A conceptually different approach is the one
proposed by the American mathematician John L. Kelly, because it takes into
account the probabilities of each outcome and, at least from a theoretical point
of view, the system is consistent.
Percentage is the bet amount as% of banking which has the player, and is
calculated from the estimated probability of the event and share it. Since you
bet a fraction of the total money available, the method avoids dramatic losses
Kelly and, unlike the Martingale, tends to reduce the amount to bet when you
lose and enlarge when you win, which is equivalent to a truly economic planning
rational.
The problem of the Kelly formula is that the odds must be on the side of the
bettor, ie the player must necessarily be able to determine the mathematical
probability of an event more accurately than the bookmaker. If the player
overestimates the probability, then lose money. On the contrary, if he
underestimates the odds, win money but to get the most performance possible.
Beyond the purely mathematical, difficult in practice, Kelly's formula shows
that, ideally, you should not bet a higher percentage than the probability of
the event, irrespective of the amount of same. In short, if you choose an event
to share two, not wager a fraction of their money. For starters, the Martingale
part of the assumption that the bettor has an unlimited amount of money when
making your bets. In practice this is impossible, and the effectiveness of the
method becomes an illusion.
Sports betting certainly has a charm of its own. Betting on sports online can be seen as directionless sport to some because there are no laid down guidelines. Here we are to provide you with some tips and strategies which can help you with betting on sports online. The first and foremost tip is to bet only that much which you can afford to lose. This is extremely important. Another thing to take care is that though you need not to be an expert in the sport that you are choosing to bet over, yet you ought to know a little bit about it.