While it doesn’t matter if you’re betting at low odds or high odds, I’ve chosen to keep this experiment at low odds i.e. no bigger than 1.20.
I’ve chosen to do this as psychologically it feels much better to have a constant stream of winners (hopefully) rather than sporadic winning and losing streaks.
Obviously, as anyone more than a casual bettor would know, the odds are irrelevant as long as you’re getting value; but I’ve chosen my poison and I’m sticking to it.
The aim of this experiment is to show that with careful selection, I can pick enough winners to steadily increase my bank more than it would increase if it was stuck in standard savings or tracker account. This style of betting is painfully boring, and without a strict bank management system, unsustainable past any type of sustained losing streak. The hope is that a varied and well thought out selection of bets, will allow for steady profits over the course of a year.
If I only increase my bank by 10%, I’ve already outperformed every bank account out there, and possibly even most of the tracker accounts too.
There’s obviously the possibility of losing a large chunk of my bank, but that’s why it’s important to put money aside that one is comfortable with losing. This has the added bonus of taking emotions out of bets, that could otherwise lead to problems if anger or over confidence come into play. A disciplined approach is the only way to maximize your chance of making any consistent profits.
I’ll often repeat this, more for myself than anything else, but betting really is a marathon and not a sprint. For once, I’m happy to be the tortoise…