The System in Live Sports Betting

Some Tips on Creating a System that Will Work

If you’re a sports bettor, there are various betting systems at your disposal. But there are some basic problems with most of them as betting systems are usually designed for bets that offer even odds and most live sports betting props do not carry such odds.

Betting Systems Considerations

Systems such as the Martingale, Labrouchere, D’Alembert and Fibonacci are the best known. Each of these requires bettors either increase the number of units or decrease the number of units they bet based on whether they’ve won or lost their last bet. Along with the fact that all are designed to be used with wagers that carry even odds, none have been found to be effective and mathematicians have debunked all.

The Kelly Criterion is one system that would be useful. This system was developed by American John Kelly, and it takes into consideration the size of your bankroll and the amount of risk involved in your wager. Thus, you may use it for any type of bet. But with live odds changing after every score or play and anywhere from six to more than 15 different bets to play at a time, it would be difficult to utilize the Kelly Criterion effectively.

5% Solution

One safe solution is to follow the basic 5% rule.  That is, you never risk more than 5% of your bankroll on any given wager and you often bet less than that amount. The more risky the bet, the less cash you use. This makes the most sense, especially because a lot can happen quickly with live betting. Here are the steps to take when setting your bets with this system

5% Process and Your Bankroll

First, you need to decide how much of your total bankroll you’re will to spend on an event. Let’s say you have $1,000 total. If you were going to make a regular wager on the game, our rule dictates that the most you should put down would be $50.  Is that the amount of cash you should use for the number of live sports bets you’re going to place on this game?

If it is, then our system is in jeopardy. We were going to apply the 5% rule to all of our bets, but the minimum wager online is usually between $5.00 and $10.00. A $5.00 bet represents 10% of our stake for the game. You could use more than 5% of your entire bankroll for the game, or you may decide to utilize the $50 by breaking it down into minimum wager units of $5.00 each.

The second option would give you 10 units for this one game.  This solution is safer than using more of your overall bank, since it’s preserving a major chunk of your cash reserve and you’ve limited yourself to a total of $50.00 for the entire event.

Determining Live Bets

Using your $50 on one game, you may wager in the following manner.

• Until you have doubled your $50, bet one unit at a time.
• Do not make multiple wagers.
• Wager on bets that offer the lowest or next to lowest odds.
• Once you double your bankroll, you may make one bet that uses two units.
• Once you double your bankroll you may make one wager on a high payout bet.
• If you lose both go back to single unit wagering.
• If you win either, start to apply the 5% rule to the game. You should have enough cash to do so.
• If you lose the entire $50, that’s it. You are out of the game. Stop gambling.

One other choice you may want to make, but many bettors don’t, is to automatically preserve some of your winnings. As an example, if you’re up $50, you put that cash on the side and don’t bet with it. That way the worst you can do is break even. Or if you’re ahead by $100, put that amount back into your bank. That way, no matter what happens you’re ahead of the game.

Control Your Wagering

Whenever you’re betting, it’s very important that you control your wagering. If you don’t you can lose a lot very quickly and either be out of the game or risking more by tapping into your reserve cash.  Use the 5% rule to rule over your bankroll and to bet safely.