Sports Betting Systems: The Paroli System, Kelly Criterion & Maria Staking
The Paroli betting system has been around for quite some time now. Traditionally, casino gamblers use it primarily for online casino games like roulette. The question is. Can I use it for sports betting at online sportsbooks? Yes, you can, and it’s also the purpose of this article. We explain to you how to use the Paroli Betting System, Kelly Criterion and maria Staking Plan when you bet on sports. However, we also caution you to use them with discretion.
What Is the Paroli System?
First of all, we need to tell you how the Paroli System in sports betting works. As well as the rules you need to follow if you use it. In simple terms, you double your bets after a win until you achieve three wins in a row. You then pocket all the profits you made and you start over again.
So, if you are a recreational sports bettor that usually risks $10 on a bet. That’s the value that you should always start with. If you lose the bet, your next bet will be $10 again. Now, should you win, your next bet will double your original stake, therefore $20.
If you lose your $20 bet. You’ll return to the starting point and start all over again with a bet of $10. If you win the $20 bet, you can double your next bet to $40. You’ll return to your original bet of $10 whether you win, or lose the $40.
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Pluses and Minuses Paroli System
The one big plus of the Paroli system that sets it apart from all the other betting systems. You can increase your stakes if you are on a winning streak. Simply put, you won’t risk huge sums of money to get a small profit. The opposite is true if you use the Martingale system.
On top of that, three-bet winning streaks are not particularly rare. You can get make a nice profit when hit a streak like that. The rules of three that the Paroli system uses allows you to pocket any profit you make. Once done, you’ll return to your initial bet.
On the minus side of things. The Paroli system doesn’t work that well with odds that aren’t in the evens/2.00/+100 range. If you bet on lower odds, you’ll never make a decent profit. If you typically bet on higher odds, it’s tough to score three-bet winning streaks. Therefore, it can be a case of, damned if you do and damned if you don’t.
Can I Use The Paroli System Sports Betting?
There’s nothing wrong with giving the Paroli system a shot if you are a recreational bettor. Bettors usually bet on odds that are around evens/2.00/+100. The bottom line here the Paroli Betting System can work on small bets. As a rule of thumb, we’re not fond of sports betting systems. They’re way too risky and unpredictable for our liking.
Sports Betting Systems: The Kelly Criterion
Shrewd sportsbook bettors try different methods to get an edge in sports betting. There’s indeed a huge list of different betting systems and approaches on offer these days. There are very few sports betting systems professional sportsbook bettors use. In this section, we take a closer look at the Kelly Criterion. And, if its mathematical formula is more reliable!
What is the Kelly Criterion?
The Kelly Criterion is a betting system that aims to get the most out of the correct sports betting mathematics. It tells you how much of your bankroll you should stake. Moreover, it helps you to calculate your odds at winning. The simplified mathematical formula is: [(Winning probability x (Decimal Odds-1) – Losing Probability]: (Decimal Odds-1).
Essentially, it’s the percentage of your bankroll that you must risk. The results can be rather high sometimes. Therefore, we suggest you split your bankroll into several smaller ones to apply the formula. If you do, what next? Strictly speaking, you’ll have a mathematical recipe that gives you the edge. As well as one that helps you to get the most out of your bets. It’s also important that you bet the rights amounts given the probability of winning that you have.
Pros and Cons of the Kelly Criterion
The main pro of the Kelly Criterion is that it puts one in the best position mathematically. That’s if your calculations are rock solid. On top of that, you always have the right equation to get back to whenever you need a bit of help with the correct staking amounts. So, everything’s right there in front of you whenever you need it.
On the minus side of things. The Kelly Criterion is incredibly hard to get into and to apply correctly. The reason being, you need to be a real expert at the sport you’re betting on to be able to fine-tune everything as the Kelly Criterion requires you to. The margins are so tight, and everything is so fickle. If you are one of those bettors that can apply the Kelly Criterion correctly. You’ll be able to make a profit even without it on hand.
Should I Use The Kelly Criterion?
Now that you know more about the Kelly Criterion. It’s time for us to say a few words who should be using it regularly. Well, the answer is everyone who’s dead serious about betting. And, bettors who are confident when it comes to guessing the percentages of what’s likely to happen. Once you become a seasoned bettor or even a sharp. You can try out the Kelly Criterion. We warn you though, it requires a lot of knowledge and hard work.
What Is the Maria Staking Plan?
The Maria Staking Plan is the brainchild of online personality Maria Santonix. It embraces playing the ponies at all kinds of odds. Maria herself made a fortune using the staking plan. She applied her knowledge and perhaps even connections in the horse racing world. The plan is relatively simple to learn, and it’s mainly about the size of your stake.
Lay different amounts of your bankroll, depending on the odds you’re laying. If you’re laying odds less than or equal to 3.5. You should lay a stake of 1% of your bankroll. If you’re laying odds between 3.6 and 7.4 (those values included). You must bet at least 0.6% of your bankroll. Finally, if you’re laying odds between 7.5 and 11. Your bets should 0.4% of your bankroll. You most probably picked it up by now; it works on a sliding scale of sorts.
After a winning day. You must rework your stakes for the next day by applying rule 1 to your new bankroll. If you lost the previous day, you should stay with the stakes you were using before.
Tone down your stakes if your bankroll gets a hit of 35% or more from its highest level. When that happens; recalculate your stakes for the remaining 65% and use them as your starting point. You can adjust the staking plan to become a backing plan instead of a laying plan. There are some examples out there, but we suggest you stay true to the original.
Should You Use the Maria Staking Plan?
The Maria Staking Plan serves as an excellent guide when it comes to betting on horses. However, you cannot apply it outside the realm of horse racing events. Relying on high odds alone is not good enough especially outside that of horse racing. Many horse racing bettors do not use the Maria Staking Plan. As a consequence, the decision to use it is yours entirely. Even though we don’t recommend it. If you are a big fan of horse racing and utilize all sorts of high odds. By all means, give the Maria Staking Plan a shot.
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