Risky bets and bankroll management

A global strategy: diversify your strategies!

Betting, playing, betting and finally winning cannot be done without reflection and therefore an overall strategy. Without any particular thought or strategy, we have seen that the probabilities (calculated and used by professionals: bookmakers and other teams of data-analysts) are calculated and provided in such a way that the winnings are zero, minus the margin of the pros intermediaries precisely.

Whether it is investments in stocks on the stock market, or sports betting, the principle is ultimately the same: place risky bets, evaluating the risk/gain/bet weight.

Evaluation of gain/bet/risk weights

If you want to progress and develop a winning strategy, you cannot just talk about gain and risk: you must calculate these quantitatively in order to be able to compare bets, decide whether to bet or not, calculate correct wagers, predict bad moves (which will no longer be bad), ...
In summary two things: secure your bets and optimize your strategy.
The essential mathematical tools are These tools are statistical and probabilistic mathematical tools that allow forecasting, planning and management.

Betting taxonomie

We can still categorize investments, or bets, into And then there is the reality: you cannot play and lose forever, everyone has a not inexhaustible amount of money.

Diversify your bets, your strategies

You must use all these forms of bets, excessively limiting those in the last point of course. In finance, we talk about portfolio management and diversifying your portfolio.
A typical example of portfolio management: on the one hand very safe and very unprofitable fundamental investments, but the income from which is reinvested in riskier operations which allow significant gains. We thus have a way of investing in risky bets without taking any risk (since the money then invested comes from previous winnings and not directly from my portfolio).
This global strategy allows you to invest, to bet, without taking any risk while keeping a part of the game and a possibility of winning significant sums at times. Skills required are

You can read, on the subect, earning a living from betting: that's a job !?
In your wallet, or your bankroll for sports bettors, you must

An example of management

For example, let's say with a bankroll of 100 euros (or investment fund in finance).
We must diversify between Planning, portfolio/bankroll management helps manage risks.
On a fixed date, for example at the start of each month, we evaluate our bankroll and, if our strategy has worked well (thanks to ROC calculation), we keep it by just increasing each bet proportionally.
The longer-term goal is to find an overall winning strategy, even if only slightly, with an ROC of a few percent (even just 10% will do the trick). Then, while maintaining this return which we refine but above all which does not decrease, we increase the bets accordingly, fed by our previous winnings, until our 5%, applied to sufficiently large bets, also become sufficiently important.

We therefore have a "snowball" strategy: we implement a low-risk strategy because with small bets, then by ensuring gains (low at the beginning) we gradually increase the bets, which will give slightly larger gains, which will again feed future bets... Mathematically, this way, the bankroll increases exponentially.

All this is still a bit theoretical, of course. See then the concrete and quantified example of management to achieve a significant net gain every month and, to adapt it to your motivation, the Simulator: month after month, of the evolution of the bankroll.

Earning a living from sports betting !?

Living off your earnings: why not! but it takes time and energy: money to earn this way? it can thus also be called remuneration, a salary... and therefore, making a living from your bets: yes, it therefore becomes a job, a career...