Betting Stake Explained
In the gambling industry, if you want to play your favourite games or gamble on your favourite sports games, you will be required to stake a bet. Here, you need to bet with your hard-earned money, so it is important that you understand the financials of betting. You are the one at risk, not the bookies, so you should learn how to manage your betting bankroll.
Additionally, you should only bet with the money you can afford to risk. Do not place bets using money set aside for your sustenance or for paying your utility bills. We recommend that you have a different bankroll for betting purposes. By doing this, you won’t mix up your betting bankroll with the one aimed at your daily needs. Once you have developed your betting bankroll, you should adopt a strategy to manage it. This can involve setting a betting limit, which could be daily, weekly, or monthly.
Also, there are various methods that you can use to manage your betting bankroll. From your betting bankroll, you can decide to stake that same bet amount on same bets or variable bets.
Let’s look at an example. Supposing you stake a ₹100 bet each on Manchester United, Chelsea and Arsenal to win. If the odds given to Manchester United are too small that even if the club wins, it won’t cover the ₹200 bets you have placed on the other clubs, then there is no point. In this case, players are recommended to shuffle their stake, say, ₹200 on Manchester United, ₹50 on Chelsea and ₹50 on Arsenal. However, the stake for each game will depend on the market price. You can use this simple formula when calculating your bet:
Expected Profits/Odds = Resulting Stake
Let’s take a look at an example to explain the above formula. Supposing odds for Manchester United is 2.0, Chelsea is 4.0 and Arsenal is 6.0 decimal odds. You want to cash out ₹100.
- Manchester United: ₹100/2.0 = ₹50
- Chelsea FC: ₹100/4.0 = ₹25
- Arsenal: ₹100/6.0 = ₹16.6
- Add altogether ₹50 + ₹25 + ₹16.6 = ₹91.60
In the above betting combination, as long as one of the bets wins, you have assured a profit of ₹8.40. Aside from that, it will cover your bets on the other clubs.
What Is Stake in Betting?
You have been wondering what a stake in betting is. A stake is the amount of money invested or risked on the outcome of a particular game – this could be a sports match, casino game, or race. In other words, a stake can also be referred to as a wager. If you are still confused, let’s give an example for a better understanding. For instance, you stake ₹100 on the match between Manchester United and Chelsea FC. Here, your wager or stake is ₹100.
In gambling, there is a chance that you will lose your bet. However, there is a method that you can use to limit your losses. For instance, you can limit yourself to a max bet per day which can be spread over several bets and you won’t touch any winnings accumulated from it. Supposing you decide to choose to bet ₹620 in a month and your budget is ₹20 per day. Assuming you win your first bet at 2/1 to give you ₹40 for the day. You can bet with the money you earn to increase your profit. Here, you will need to stake another ₹20 on your second bet and keep the starting wager. Even if you end up winning ₹100 on that day, you can continue to bet with the money, as long as you don’t lose more than the ₹20.
Another principle that you can use to manage your betting bankroll and to limit your losses is by keeping aside your winnings. So if you are betting with ₹20 and you win, you can decide to keep your winnings and set this money aside so that you won’t be tempted to touch it. After that, you continue to bet and keep the winnings as much as possible until you lose the initial wager. In this strategy, when you lose your wager for the day, you should not take from tomorrow’s budget, neither should you take from the winnings. You just have to chill and stick to the plan. That’s what professionals do!
Don’t Bet More Than You Can Afford to Lose
Another simple but effective principle that you can adopt while gambling is that you should not bet more than you can afford to lose. Supposing you can only afford to lose ₹400 this week, don’t bet more than ₹400. On the other hand, if you can’t afford to lose anything at all the following week, then don’t bet – it’s pretty simple!
Don’t see betting as a path to riches. For some gamers, they see betting as a way to meet new challenges rather than money. It is also about being able to boast that you beat the bookies and getting more betting outcomes correctly.
On the other hand, some only see the money aspect of betting. They think that the more money they use to bet, the higher the reward they get from it will be. However, it does not work that way. Small wins over a long period are the realistic expectation when betting. It’s important that you only gamble with what you can afford to lose.
In this comprehensive article, we have discussed everything you need to know about staking in betting. Besides that, we have also discussed how you can manage your betting bankroll to limit your losses. Now that you have understood what it takes to stake a bet, you can proceed to an online casino or a sports betting site to start betting. However, remember that you should only stake what you can afford to lose.