The importance of staking
One of the hardest things for people to get right in sports betting, is staking appropriately. Even some of the most profitable sports bettors can fall victim to over-exposing themselves on certain outcomes by staking incorrectly, leaving their bankroll and investment vulnerable.
What is staking & why is it important?
Staking is managing your bankroll such that you are only betting a calculated % of your total money on any single event or outcome. Regardless of your confidence level in a single play, the reality is there are no guarantees or sure things in sporting events. Every contest has variables that are out of a bettors’ control – things that happen in game that cannot be foreseen, such as injuries in sport or falls in racing.
Sports bettors should view each bet as a mini investment. Just like any other investment, putting all your eggs in one basket leaves you running the risk of losing everything, all in one go. Diversifying these mini investments by placing specified and calculated wagers utilising Bet With Joel’s staking advice will minimise your risk of ruin, and maximise your longevity and therefore ability to profit over the long run.
BWJ’s staking Plan
Bet With Joel sends taking advice with every tip sent. We recommend having 100 units in your bankroll at all times. For example, if your bankroll starts at $10,000, we would recommend a $100 unit value. A typical BWJ tip is 2.0 – 3.0 units, or 2% – 3% of your total bank roll. If your bankroll gets to $12,000 total, you would be utilising $120 units ($240-$360 total bets), however if your bankroll were to drop to $8,000 you would be using $80 units ($160-$240 total bets).
Variance is a natural and unavoidable part of investing in sports betting, there will be good & bad days, weeks and months. By committing to a staking plan & adjusting your bet sizes accordingly it allows you to maximise your winnings & dramatically reducing your risk of ruin.
“The Single greatest edge an investor can have is a long-term orientation” – Seth Klarman.
This game is a marathon, not a sprint. This is not a get rich quick scheme promoting big risk taking in “can’t miss” spots. It is a calculated investment plan where we exploit edges over a long period of time, we get our money in good time after time, day after day. Correct bankroll management will have you winning safely, keeping you in a solid position to exploit the edge we provide, rather than taking big swings & having to rebuild when we inevitably hit a bad beat along the way. Diligence is key, and at BWJ we treat your money like it’s our own.