Great post! Everyone has losing runs, so it's important to stake appropriately.
Example: In the last month I've been tracking my inplay football bets, I've been betting at average odds of 2.38 (implied chance of 42%). My longest winning run has been 10 bets, but my longest losing run has been 8 bets. Based on my current strike rate of 56%, my expected LLR is just over 6. To be absolutely safe, I'm going to double this figure to give 12, and stake accordingly - if I were to lose 12 bets in a row, how much of my bank would I be comfortable with losing? For me, I'd say around a quarter, which is why I've chosen 2% of my total bank per bet (2x12 losses = -24%).
Obviously if I was talking about a longshot betting strategy, the same concept applies but the stake % would be much lower.
Check out this handy calculator to identify your expected longest losing run
I'm of the opinion that the bankroll management is the single most important thing when it comes to the sports betting.
You can half-ass in the other areas and still live to fight another day, but if you fail to run your bank properly it's not a question will you fail, but when you'll do it.
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Indeed, with bad bankroll management it doesn't even matter if your bets expect a profit. Variance will bring you down eventually
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Yet, that's the last thing that a sports bettor learns. Most of them don't learn it at all.
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