Manage your bets and bankroll using Miller's strategy

Calculate your bets and manage your bankroll in the long term

Managing your bankroll and correctly calculating the amount of your bets is fundamental in the long term in sports betting.
The Miller method is an effective answer to this question: the Miller strategy very simply indicates both when to bet and the amount of bets to invest according to your bankroll.

What is Miller's strategy

The Miller's Method, or Miller's Betting Strategy, was invented by John R. Miller, famous American gambler and author of Professional Gambler.
This strategy is twofold, including two parts: when to bet? and how much to bet?

Which sporting events to bet on ?

First of all, Miller's system focus exclusively on events with odds a little lower than 2: odds from 1.8 to 1.9. That is on events as close to 2 as possible. These events therefore have implied probabilities close to 50/50, or one chance in two. In fact, remembering that the odds for the bettors have actually been reduced by the bookmaker in order to take a commission, an event with odds of 1.9 is an event with actual odds of around 2.
In his method, JR Miller therefore focuses only on balanced bets, absolutely excluding all others.

How much to wager ?

The Miller's method also requires you to follow a strict stacking strategy. This is a also a flat betting method.
What is flat betting ? This term refers to your stacking structure management and betting strategy: flat betting is simply a strategy where you're betting the same amount on every game. For example, with a 100 euros bankroll, a flat bet strategy could be to bet 10% on each bet, that is 10 euros on each game.

In Miller's system, you flat bet 1% of your total bankroll, and you do not change this bet amount until the overall bankroll value has increased by 25%.

For example, with an initial bankroll of 1000 euros, you begin betting 10 euros per game. Stakes remain capped at 10 euros as long as the bankroll has not varied by 25%, therefore 25%×1000 = 250 euros.
So when your bankroll reaches 1250 euros (and not before), the amount of bets will increase to 12.50 euros.
You then keep this amount of 12.50 euros as fixed bet amount as long as the bankroll did not increased by 25%, that is 25%&tims;1250 = 312.5 euros. When the bankroll therefore reaches 1562.5 euros, the amount of bets will increase to 15.62 euros.
And so on…

Miller's method advantages

By respecting this Miller's betting strategy (both on events with odds from 1.8 to 1.9 and with a flat bet of 1% of the bankroll), then you are a winner as soon as more than 50% of the predictions are correct (Miller calculates more precisely that you must hit at least 53% of your bets).
By betting on balanced events, you just have to be able to correctly predict more than 1 in 2.
This is where your knowledge, sport and bettinf, come into play: if you know the sport inside out, your personal analysis, consider home-field advantage, weather, particular conditions, history of previous events and many other factors, …, you should be able to get up to about, or more, 53%.

It is therefore ultimately necessary in this overall betting strategy to be able to determine only more than half the time what tilts the balance to one side or the other.

Finally, this overall strategy of sports betting requires you to be extremely disciplined, and almost eliminates the risk of severe losses: no risk of bankruptcy for example.

Miller's method drawbacks

The main drawback of the Miller's system is its rigidity, and this is probably the main drawback for all flat betting strategies. This strategy emphasizes avoiding bets with odds not between 1.8 and 1.9.
We therefore avoid, for example, the juicy underdog that might pay 2.1 or 2.4.

This betting system requires you to be extremely disciplined. On the surface, this can be seen as an advantage of the Miller's method.
On the other hand, many punters find it difficult to stick to such a strict regimen which ultimately takes a lot of the fun out of the game.

Improving your sports betting strategy

The Miller's System is just one of many methods for betting successfully. More generally, as in financial investments management, you can manage your portfolio/bankroll by diversifying your strategies, using some maths formulas and other methods for sports betting.

Understanding the Miller's method, how it works, its advantages and disadvantages, allows you improve your betting skills, knowledge and practices.