I often get questions concerning bet size - should I be betting the same on each game, or be betting more on some games than others? Lets take a look at each of the methods to determine which is best for you.
1. Flat betting
Flat betting basically means that you are betting the same on each game. A simple example would be using a 2% rule. On each bet you are risking 2% of your bankroll. So if you have $5000, you would be betting $100 per game. Feustel, in his book Conquering Risk, recommends newer players betting 1% of bankroll with constant resizing. By resizing you will never go broke, in that when your bankroll increases your 1% becomes a bigger bet, and when your bankroll decreases your 1% becomes a smaller bet.
I primarily use a 2% per bet of bankroll, with resizing on a weekly basis.
2. Kelly Criterion
The Kelly Criterion can be described as a formula to determine optimal bet size when you know what your edeg (or expected value) is.
Although it sounds confusing, it really is easy to understand
Here is a great explanation by Justin7 from Sportsbookreview.com
For most, sticking to flat betting 1-2% of bankroll with resizing is the best plan. While always trying to get the best of the number and the best price.
1. Day Trade Sports - Become a Winning Sports Trader