An essential part of sports betting, staking plans are something that can and should be used. But what are staking plans in online sports betting? What are the different types, and should you be using one?
Let’s start with a simple explanation of just what is meant when someone refers to a staking plan.
How Much Should You Wager?
How much money you should risk on a wager can be determined, in part, through the use of a staking plan. Rather than just taking a wild shot at betting $30 on the Giants game Thursday night (example only), this is a method that will apply a level of logic, and in doing so, assist you in making a wager.
Gut instincts may still play their part, but other things figure in, depending on your plan:
- The size of your bankroll
- Your odds of winning
- Your recent track record
Be advised that plans vary.
Benefits of a Staking Plan
To help manage risk, some people use a staking plan. As it fits your needs, the plan would be devised to develop a trade-off involving risk versus reward. When it comes to risk, a huge variety of options are offered by staking plans. If it suits you, you can choose a higher risk of award, or, a lower risk and reward trade-off can be selected by those who prefer such.
Basically, there are two main types of staking plans:
- Variable Plans: This includes Proportional Betting, Fibonacci Sequence, and Martingale System.
- Fixed Plans: This includes Bet It All Every Time Staking, Bankroll Percentage Staking, and Fixed Wager Staking
For variable staking plans, your bet will vary every time you wager.
For fixed staking plans, the percentage of your bankroll that you’ll wager, or the amount you will wager, will be fixed. They don’t move.
Is a Staking Plan Necessary?
Whether or not you use a staking plan is completely up to you. Not everybody does. However, to assist in bankroll management, it’s a good idea. Otherwise, leaving you nothing to wager further with, you could quickly fly through your whole bankroll.
How Will I Know If It’s for Me?
The use of staking plans may not be particularly for you. But how will you know and how long should you wait before making that decision?
Try more than a couple of wagers, for sure. Additionally, go ahead and give it some honest-to-goodness time before you make the decision to refrain from using staking plans. So that you can give the plan a chance to work with numerous varying bets, keep your bets small at first. If you’re not pleased after a dozen or so wagers, try shifting to a different plan.
Are Staking Plans Used by Professional Sports Gamblers?
The answer to this question is an absolute, “Yes!” It helps them with bankroll management. To assist these individuals in calculating how much to bet at any given time, professional gamblers have developed propriety plans of their very own.
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