We have to ask ourselves as bettors, what is an acceptable win percentage? If our goal is to win (and I don't understand those that have any other priority other than to win) what would be a percentage that we could make money with?
And so to illustrate how we could think in that regard,...we'll have a story.......
A betting man is walking down the beach and he spies a beautiful bottle lying there....he looks around, and sees no one, so he picks it up, he looks at it and decides to pull the top off........
And a green genie pops out vaporizing so that it towers above Mister Bettor.
"Wow, it's gotten pretty stale in there", he says.....
"I've come to give you one wish in your betting life and no I won't give you Biff's Back to the Future betting results book. I'll give you 30 seconds to decide what it is you want."
"Wow, this is incredible you think....I've hit the jackpot. Hmmmm, what should I ask for?"
You then have a sudden inspiration, "Mr. Genie, I want to hit 65% of my bets for the rest of my life!!"
The big green genie rubs his chin and says, "That is a VERY high percentage, pretty unrealistic actually....let me talk to my boss, the Head Honcho Genie and I'll get back to you in one hour."
So, you go away with fantasies in your head of huge bank accounts, limousines and beautiful women dancing in your head.
"Is he really gonna grant me my wish, you wonder? I've been pretty good really, actually I deserve this!!"
So you go back to the genie at the appointed hour, and he says to you....."My boss says, 65% is totally unrealistic and even the gods can't make that happen."
"We've decided to give you a choice."
"We can give you 50,000 dollars cash up front, no questions asked, to do with what you wish......OR we'll give you 10,000 dollars and the promise that you will hit 56% of your bets for the rest of your life, no more than 50 bets/month and you can't risk more than 3% of your bankroll."
"Tell me what you wish, your wish is my command. You have one minute to decide what I will do for you."
Geez, you think, it's not 65%, but it is better than nothing....maybe if I hadn't kneed that guy deliberately when playing football, putting him into the hospital I would have gotten my first wish. Or if I hadn't cursed that guy out in a fit of road rage, he would have given me 100,000.
"Come on now!! Concentrate", you say to yourself. You don't really know what you'd best do....50,000?
I could have a lot of fun with that!
But somehow in the back of your mind you think that in the whole scheme of things you might do better with taking the 10,000 and the 56%.
You gulp hard and say to the genie who is impatiently waiting,...."Well Genie,....I'll take the 10,000 and the 56%"
"You have chosen wisely" he said....."YOUR WISH IS MY COMMAND"
He claps his hands twice and disappears.
You go home to contemplate whether you've made the right choice and you get your math nerd next-door-neighbor to figure out how you might do.
Your bookmaker charges 110 to 100 dollars. (You should be doing better than this, but for the purposes of our story, this will suffice.)
You are betting 2.2% of your stake each bet which is 220 to win 200.
50 bets/month means you win 28 bets and lose 22....for a profit of $760 or ROI of 7.6%/month. At the end of each month you calculate what 2.2% of your bankroll is and flat bet each of your 50 bets for the next month.
starting stake month stake at end of month
10,000 1 10,760
10,760 2 11,578
11,578 3 12,458
12,458 4 13,404
13,404 5 14,423
14,423 6 15,519
15,519 7 16,699
16,699 8 17,968
17,968 9 19,333
19,333 10 20,803
20,803 11 22,384
22,384 12 24,085
"In one year" your math nerd friend tells you, "you will have increased your bankroll by 2.4 times and will do so every year for the rest of your life. In two years you will have over 57,000 dollars.
The moral of the story is....don't try to hit home runs with your betting.....look for slight edges that you have perceived in the betting marketplace. Follow money management, make sure your methodology is sound...that is, you should have found an edge or +EV. If you haven't an edge then either research to find one, follow someone who has, or come to grips with the fact that you will lose.
Someone who has no edge is like someone going to a casino and sitting down to a table of black jack without memorizing the computerized cheat sheet of when to hit, double down, or stay....and without the ability to vary your bets when the deck is in your favor. If you don't do the above, you may possibly be lucky and win in the short term, but you will lose in the long-term because the house has the edge, NOT YOU.
When the house (bookmaker) has the edge you lose and he wins, which is why 96% of bettors lose. It is up to the bettor to find edges, it's his money and it's his decisions that will ultimately decide whether the bookmaker is paying him or he is paying the bookmaker.
Good fortune this week.