Bankroll Management is one of the most important things you need to learn when you have plans to indulge in cricket betting. As a beginner, you would want to get used to the frequently used terminologies and other things before starting betting on Cricket. Here we are going to talk about one of the most used terms in the betting sector and the importance of its management.
No one becomes a millionaire from a single bet placed on the game of cricket. Bettors who earn extra cash or even make a living out of cricket betting must have a bankroll based on a healthy risk or reward ratio. With a powerful bankroll management strategy in cricket, you can place more bets and your bet margins get improved over the period.
Understanding Bankroll Management in Cricket Betting
Bankroll management can be understood by dividing the entire balance into sections. Managing the bankroll is a long and slow approach, but it brings long-term benefits.
So, when you are serious about cricket betting, the first thing you need to decide upon is the betting bank, which is the amount of money you can afford to lose during the betting, also there must be ample balance left into your account for a long time. The balance must be big enough to allow bad betting runs, but you can still with other activities of your choice, and this can only happen if you can manage it effectively. Now let us understand this with the help of an example.
Let us assume you have INR 10,000 and you are getting started with cricket betting. But what is an effective way to use it? For instance, India is playing with Australia, and you can predict that India will surely win the game. So, should you bet for the entire amount on India? Is that going to be a value bet?
The answer is no! When the understanding of good bankroll management is lacking, the whole scenario can work against you, even if you have a fair idea of the game. You may have to face the worst situations when you have already predicted yourself as a winner.
If you select the betting amount without considering your betting value or your total bankroll, you may have to go through the worst. There is no 100% win-win situation in betting, you also have to contemplate the chances of losing the bet. When you are involved in the betting sector, never let the emotions come your way.
In the above example, if India loses the match, your entire betting bank will be drowned on the single bet. So, your overall goal should be to bring out the best betting strategy that carries a healthy risk and enhances your profits over a period.
What are The Different Bankroll Management Strategies?
Bankroll management is Cricket betting involving different strategies. Since cricket is different from football or any other big sport, it follows a different format. Here the minimum playing time is limited to a few hours, while the maximum time goes up to five days. The matches occur under different laws and regulations, and with numerous factors affecting the scores, it becomes very difficult to predict the match. Hence you need to follow different bankroll management strategies.
Martingale In Cricket Betting
This strategy has proven to involve very high risk. In the strategy, you will have to double your stake after every lost bet, until you come across a win. If you want to play safe and don’t want to risk your bankroll, we suggest you ignore Martingale strategy.
Fixed Staking Plan
Fixed staking plan can also be determined as flat betting, where you place the bets consisting of equal amounts, irrespective of betting value. The bettors using this strategy put a fixed percentage of their bankroll on the stake on every bet. This is a good bankroll management strategy to start with for a beginner in cricket betting, due to the low-risk factor.
Kelly Criterion
This is the most used bankroll management strategy in Cricket betting, which allows the bettors to adjust the betting amount based on bet value. Here the higher the positive expected value of an odd, the bigger the bet size will be.
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