Sports betting strategies that preserve your bankroll. Money management strategies[ 11.10.16 ]
Some sports betting strategies are based on financial calculations rather than sports betting analysis. These are financial – or mathematical – sports betting strategies aimed at preserving your bankroll.
Oscar’s Grind sports betting strategy
The Oscar’s Grind financial strategy was originally developed for roulette betting on red/black. Therefore, this sports betting strategy is prefect to use for sports events featuring the odds of 2.
In Oscar’s Grind sports betting strategy, your original bet is counted as one unit. You need to determine the size of one unit by yourself. Your goal is to get a profit of one unit at the end of each sequence. If your original bet loses, you bet one unit. After each loss, your next bet amounts to your previous bet. If you win, you increase your next bet by one unit. Moreover, the Oscar’s Grind system features one important rule: if you can place a smaller bet, you should go with it.
Let’s take an example. Suppose, you lost four bets in a row, which means your loss is four units. If your 5th bet wins, your 6th bet should be 2 units. If your 6th bet wins, your 7th bet should be 3 units. According to the strategy’s main rule, your 8th bet should be 4 units.
Miller money management strategy
This strategy was developed by and named after a famous bettor Miller. According to Miller money management strategy, you need to make correct predictions for more than 52.38% events.
According to Miller, your bet should amount to 1% of your initial bankroll. Once your bankroll increases by 25%, you need to adjust the size of your bet. Once your bankroll increases by further 25%, you need to make another adjustment. With this sports betting strategy, you secure a 100% profit – on the condition that 56% of your betting predictions are correct.
Miller money management strategy is based on capital turnover. Miller places 1,000 bets a year. With each bet being 1% of bankroll, your bankroll is used 10 times (1%×1,000=1000%). Your annual profits amount to 76% of your bankroll.
Compared to the Kelly criterion and Martingale sports betting strategy, Miller’s money management strategy is the most reasonable option. The idea of increasing/reducing your bet based on your previous outcome seems to be lacking logic.
Another important advantage of Miller’s strategy is that you can’t deplete your bankroll – on the condition that 56% of your predictions are accurate. Suppose, you are placing the first 200 bets. During 17% of time, less than 50% of your bets will be successful. This means that after hitting the mark of 200 bets, you will part with 45% of your bankroll.
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