Fixed bet and proportional bet
If you are a beginner when it comes to sports betting, always betting the same amount is an easy solution to reduce the risks.
You protect yourself from errors in judgement and from the euphoria that could take over you after a series of winning predictions. You thus drastically reduce the risk of losing everything.
This risk is all the smaller as your bet represents a small amount of your betting portfolio. We advise your to choose a fixed bet that represents 1 to 5% of the amount you dedicate to sports betting. A higher amount would expose you to too important a risk.
The fixed bet systems are very simple but do not allow you to take into account your conviction on each prediction or the evolution of your sports betting portfolio.
Choosing a bet that is proportional (%) to the total amount of your portfolio allows you to resolve two drawbacks of the fixed bet system. Betting a certain percentage of your sports betting portfolio allows you to:
- Make the amount of your bets evolve proportionally to the size of your portfolio.
- Modify your bets depending on your convictions, within a determined bracket.
We advise you to place a bet ranging between 1 and 5% of the total amount of your portfolio.
As a conclusion
The main advantage of these two basic systems is that they are easy to use. Their major drawback is that they do not take into account the specific risk of each bet. As you know, you do not have the same chances of winning your bet with odds of 1.2 and with odds of 10. The probability for the predicted event to occur must be taken into account when you choose your bet.
If you want to adapt your bet to the quality of your predictions and to the odds you are betting with, the Kelly criterion is the best system.