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What is a betting strategy?

A betting strategy is a pre-planned systematic approach to betting.

If you take time to plan ahead with a betting strategy, you will make decisions according to your plan, rather than based on emotions or ‘gut feel’.

Why have a betting strategy?

Betting strategies help you:

  • Concentrate on a bigger picture approach
  • Set limits on what you’re willing to risk
  • Prepare for all eventualities
  • Plan for success
  • Look for value by seeking betting opportunities that give you better odds than probability suggests
  • Better manage exposure and limit your losses

Creating a betting strategy

Your betting strategy can be a simple one page document or a more detailed plan. Some elements to include are:

  • Your goal – to bet profitably
  • Your approach – what betting techniques you will follow
  • Your tools – your use of calculators
  • Your tracking – how you will monitor your progress
  • Your results – if you achieved your goal and how you achieved it
  • Your modification – how you will change your approach according to your results

Types of betting strategies

There are a number of betting strategies you can follow. These include:

  • Staking plans a policy that indicates how much money you’ll bet. Staking plans include:
    • Kelly Criterion identifying and exploiting discrepancies between probability and actual odds offered by bookmakers
    • Martingale system doubling your betting stake following a loss
    • Dutch betting backing a number of different outcomes
  • Arbitrage betting backing a number of different outcomes to secure a guaranteed win
  • Matched betting using bonus bets to back two different outcomes
  • Hedge betting taking advantage of fluctuations in the changing odds market