Fixed Bet / Staking Strategy
Unlike variable staking strategy where stake on each wager within your betting budget carries different amount with less attention to bet odds, fixed staking strategy operate using the ‘fixed’ concept to help bettors manage risk involves in stake and getting the best result in profit out of their different bets. All you need to know for fixed staking is that there is always that concept of a fixed value. The ‘fixed value’ can be in term of amount that bettor stake on each wager, or it can be in terms of percentage of bankroll.
- Each wager carries a fixed value with respect to bankroll
- Stake on each wager can be a fixed amount
- Stake on each wager can be a fixed percentage
- It helps bettors manage the risk involved in their bets
- Fixed amount wager doesn’t change regardless of different bet odds
Fixed Bet / Staking Strategy
Our assumption is that you are read our article on staking strategies: How to win in sports betting as we explained some pretty basic information about staking strategies but on a more in-depth level. Among the two major categories of staking strategies is a fixed staking strategy, which we’ll address at length in this article.
Fixed Staking Strategy definition
Let’s assume that you have already understood the very first step of sports betting money management: Knowing your budget, which is setting aside your bankroll or betting budget, now, you need more information on how to apply fixed staking strategy to your overall budget and start placing those wagers with your online sports betting sites in the smartest ways possible.
A fixed staking strategy implies that bettors place a fixed amount or fixed percentage of their overall budget uniformly for every time a wager is placed in their sports betting.
What this means is that for all the number of times you will place wager, that is, if your overall budget is splited or divided into 200 equal part, then the amount making up each part is what every wager you will ever place will be within the betting budget. 200 equal part in this example will represent the decision you’ve come up within the second stage of bankroll management, which is coming up with rules that will determine each wager quota.
Types of Fixed Staking Strategy
From the definition of fixed staking strategy, you will understand that it can be further divided into a specific pattern. There are three specific types of fixed staking strategy. They include the following:
- Fixed Wager Staking;
- Bankroll Percentage Staking;
- Bet-It-All-Every-Time Staking.
Fixed Wager Staking
The logic behind a fixed wager staking is that for every wager you will ever place within the capacity of a given betting budget, you will always wager the same amount on every game and sports event. This staking type is very direct and not very flexible. It gives no attention or consideration to how favorable or not favorable the bet odds that your bookmaker is offering are. It doesn’t factor in any other factors or input. If you decide to go with a fixed wager staking type, as far as staking strategy goes for you, for every wager you will place within the limit of your betting budget, there is a fixed amount of money that you place on wager. Some bettors often refer to fixed wager staking as level staking. It goes the ‘level’ part of the name from the fact that if you plot the graph of your wager, it’s going to be a flat, horizontal time, irrespective of time factor or anything.
Let’s illustrate with an example. Let’s assume that your betting budget for the third quarter of 2019 is $1000. After deliberating and calculating, factoring in your betting style and goals, you decided to stick to $10 per wager. Going by this, it means each wager you will ever place in the third quarter of 2019 irrespective of the bet odds offered will be $10. Now, you can decide before you start dipping into the budget at all that $10 per wager is too high and reduce it to $5 per wager. The point is that every wager you will every place with that $1000 betting budget must always be $5 (the fixed amount you agreed in the start of spending betting budget), bet odds regardless.
Bankroll Percentage Staking
As the name implies, the amount to place on each wager within a given betting budget will be a fixed percentage. With the fixed wager staking, the amount to place on wager is ALWAYS the same till that betting budget finish or till the end of the specified period, that budget is supposed to last. However, things are not configured in the same manner with bankroll percentage staking. Choosing and deciding on a fixed percentage to place on each and every wager that you will place within a given betting budget does not implies that this amount on each and every wager will be the same. Because each time you place a wager, and the bet result comes in, it’s either you win or lose, and balance increase or decrease, this means the next amount to place on next wager will a new percentage calculation of the new overall betting budget.
An example to clear things up. Let’s assume you put together a betting budget of $500 and have decided to stick to a 2% bankroll percentage staking policy. Here’s how that will look:
Your Overall Betting Budget is $500 (Fixed Percentage @ 2%)
|First bet||You staked $10||You lose||New bankroll balance is $490|
|Second bet||You staked $9.80||You lose||New bankroll balance is $480.20|
|Third bet||You staked $9.60||You lose||New bankroll balance is $470.60|
|Fourth bet||You stacked $9.41||You win||New bankroll balance is $480.01|
|Fifth bet||You stacked $9.60||You win||New bankroll balance is $489.61|
|Sixth bet||You stacked $9.79||You win||New bankroll balance is $499.40|
That is how you each wager will look like say for example you lose your first three wager but win the next three. The actual amount of each wager will fluctuate, depending on the new overall betting budget balance.
This is a rather aggressive form of fixed staking strategy. Literally, as the name implies, bettors using this type of fixed staking plan will always place their entire betting budget on one wager, all in, at once. I personally still cannot just a justifiable reason to classify this as smart. However, remember that in deciding that this staking strategy is good for this person or bad for this person, we must put into consideration their bankroll size, their betting goal, their betting style, and risk threshold. Perhaps, I’m not there yet on my risk threshold and bankroll size to use this plan of fixed staking strategy.
A perfect example of this will be a bettor with a $100 bankroll. If this bettor is using the bet-it-all-every-time staking format, then he will wager $100 on all the wager within the scope of his betting budget. That is basically his first wager but not necessarily his last, provided the first wager is a win.
All these aforementioned staking plans are way different from their counterparts in the variable staking strategy family. A very good example is Kelly strategy. Kelly has found it way into the heart of many experienced bettors as their best approach to managing the stake on bets, and different testimonies continue to prop up on how well it has been of great value to bettors and help them make an impressive profit on their different bets. Kelly also provides help in minimizing the risk that comes with a stake in every bet. Read more about Kelly strategy in our article dedicated for it.
Why You would consider Fixed Bet as a handy Staking Strategy
The benefits of having a solid staking strategy in place cannot be overemphasized. As pointed out earlier, different bettors require different staking strategy. Value, goals, styles, and a whole lot of other attributes that are different from one bettor to another exist. Thus, a good understanding of the good staking strategies that we have is of great importance. At the same time, understanding yourself will go a long way in ascertaining whether fixed staking strategy is for you. Whichever the case:
- If you know or you can deduce to a reasonable extent that you are not a big risk taker, that is, your risk threshold is not that high, then a fixed staking strategy may be best for you. A stake of 1% of your $500 betting budget is pretty within the boundaries of reasonable bets and risk management in the face of scary bet odds.
- If you are the type that doesn’t have the nose for calculating, predictive mathematics, or you are often very busy, a variable staking strategy like Kelly may be of less significance to you as you won’t have the time to do the work.
- It is also best practice to adjust your unit stake at least in not too distant apart months. The point to that you pay attention to the health of the overall betting budget.
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