If there’s one thing that all bettors should keep in mind, it’s to manage your funds well. Keeping a check on the money you spend on each game will help you greatly diversify your funds and keep your options open if a certain bet unexpectedly goes south.
As fun as online gambling can be, you don’t want to get ahead of yourself and lose a huge amount of money on a bet you were sure was going to land you the jackpot.
That’s where staking plans come in. Fixed and Variable stakes are determinants of how much money you should be putting into each bet. Both can provide a myriad of benefits to a bettor. If you’re looking for a surefire way to improve your overall betting experience, allow us to teach you the difference between fixed and variable bets.
Fixed Stakes
A fixed staking plan is a simple and concise way of determining how much you want to bet on each game. To decide how much you want to spend, you first have to look at your bankroll.
Experts advise never to go above 1% of your total savings when placing a bet, so if you have $500 in your bankroll, $5 per bet is the sweet spot. You can go higher, but only for bets that you’re sure about. This method of budgeting is best suited for beginner bettors who want to keep a cap on how much they’re willing to bet and not get ahead of themselves.
Variable Stakes
This form of planning is a bit more complicated. Here, you have to determine the size of your bet based on the odds in the game and your confidence in winning.
The aim here is for the bettor to do everything they can to ensure they get a certain amount of profit regardless of the outcome of their games. There’s no guarantee, but following this method can diminish your risk by a significant amount.
Depending on the odds of the game, you can bet far more or far less than the 5% rule we established in the fixed variable rule. For a game with odds of 1.20, you can bet $100 for a return of $120. Since the odds are relatively secure, you’re in a much better position to make a bet.
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