Staking
System Of Gambling
Many people have
formulated staking
systems in an attempt to "beat the bookie", but most
still accept that no staking system can make an
unprofitable system profitable over time. Widely-used
systems include:
• Fixed stakes – a traditional system of staking the
same amount on each selection. This method suits
conservative punters if the stake remains below 5% of
the bank.
• Fixed profits – the stakes vary based on the odds to
ensure the same profit from each winning selection. This
method suits conservative punters well, although if the
profitability of one's bets varies independently of the
odds the bettor simply reduces his or her cash flow.
• Due-column betting – A variation on fixed profits
betting in which the bettor sets a target profit and
then calculates a bet size that will make this profit,
adding any losses to the target. For example, to make a
target of $100 profit a bettor would wager $50 at odds
of 2 to 1. If the bet loses, the target becomes $150. If
the next bet is also at odds of 2 to 1, the wager
therefore becomes $75. This type of wagering can prove
ruinous in the long run.
• Kelly – the optimum level to bet to maximize your
future median bank level; the punter needs to estimate
fair odds (in decimal odds) and then calculate the stake
using:
• Martingale – A system based on staking enough each
time to recover losses from previous bet(s) until one
wins. It is usually applied to even-money bets such as
red/black on roulette. The Martingale guarantees failure
in the long run - it would only work if the bettor has
an unlimited bankroll, the bookmaker has no limit on the
size of bets and neither party ever dies. However, it
can usually be used to gain a small win in the short
run, given a bankroll large enough to survive a streak
of five or six losses.
This occurs in particular when two people have opposing
but strongly-held views on truth or events. Not only do
the parties hope to gain from the bet, they place the
bet also to demonstrate their certainty about the issue.
Some means of determining the issue at stake must exist.
Sometimes the amount bet remains nominal, demonstrating
the outcome as one of principle rather than of financial
importance.
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