Over many years of working in the Wagering and Gaming industry as well as Professional Sports Punting we have seen many approaches to Sports Betting. There are numerous 'methods' around including the 'Martingale' and 'Fibonacci' methods that can yield large returns if you're lucky enough to hit a hot streak at the right time. We love a hot streak as much as the next guy but at the end of the day, favourites lose, key players get injured and athletes can have a bad day and there goes your run. So what method do we like most? We prefer a style of 'Proportional Betting'. With this method, you are only ever betting a percentage of your bank.
Proportional Betting Strategy
For a conservative approach, you could wager around 2.5% of your bank. For example you have a Bank of $1000, you would then wager 2.5% of that being $25.
For an aggressive approach, you could wager around 5% of your bank. For example, you have a Bank of $1000, you would then wager 5% of that being $50.
Your percentage never changes. If you change your percentage then your strategy ceases to be effective.
If your bet loses you stay at the same % wager of your bank. In the first example your next wager would be 2.5% of your current bank of $975 being $24. You stay on this same system until you get in front of your initial bank of $1000.
Once you win past your original bank of $1000 you can then start to increase your wager. For example, your bank had now increased to $1200. You would still be betting 2.5% of bank, this now being $30 and so on.
This can be a very effective betting strategy when coupled with a successful picking rate and is why we prefer this somewhat slower but definitely steadier strategy.
And remember... gamble responsibly!