Optimal Betting

gambling mathsIt is absolutely true that it is hard for a player to turn a negative expectation into a positive one by using money manipulation considering there is an enforced maximum and minimum bet enforced by the casino. Even on the contrary – most efficient money management plans recommend to players not to place any bets in such situations.

In other words, players are not recommended to place bets on games that offer them a negative expectancy or at least place insignificantly low bets in order for entertainment only and to prevent large losses.

Still, if we presume that the player has managed to discover a wagering situation that is favourable to them, they are to face the problem of how best to divide their limited financial resources into shares. This is exactly what is called optimal betting and of course, it is made under certain rules.

Main Aspects of Optimal Betting

When making a bet, players should always take their own limits into account. If we have to put this in other words, casino customers should consider how much they are able to lose without this costing them too much both literally and figuratively. On the other hand, players should also calculate the expected value of any eventual winnings they may generate and if this value is too low, not to waste any time or money on making such bets.

If we consider another extreme case concerning the player’s bankroll, the expected gain on the first could be bigger than the one they bet. So, in case that the player decides to bet the entire amount they won, the expected gain would be larger than if they bet any amount of the lesser value. Casino customers should be aware of the fact that they boost the expected gain on each turn by making a wager that is of a lesser amount.

In addition, players need to remember that when placing a bet at a certain game, both the probabilities and pay-offs stay the same at each bet. This is exactly why it is completely reasonable for them to expect that the best betting strategy is to always involve placing a bet of the same fraction of the player’s bankroll at each turn. It is a 4% fraction that is considered as the best amount for a single bet over the entire gameplay. Betting 4% of the bankroll at each round is known as “optimal geometric growth portfolio” and is considered the best money management strategy for a wide range of casino games.

Why is this strategy efficient? First, it offers a reasonable bet amount to players without risking too much, especially in unfavourable series of bets. It is also a minimum size bet, which makes it easy for calculation. In addition, this money management system also provides the casino player with the chance to increase their bankroll a bit faster when compared to the one of a player using totally different betting strategy. By using this strategy, players are likely to generate a certain level of winnings in at least average time.

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Taking into account the positive and negative sides of this optimal betting system, we could say that it is relatively safe, or at least safer in comparison to a lot of other money management options. It provides casino players to implement it in a variety of games, allowing them to generate larger profit in the shortest time. In addition, it also keeps them safe from loosing too much money by placing reckless wagers.

Still, players prefer using this kind of optimal betting system primarily for the games of roulette and blackjack, as its implementation in the gameplay is most efficient and offers the best results possible.

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