We have repeatedly wrote about the bet strategies, designed to negate the bookmaker’s advantage. The effectiveness of these strategies more or less depends on the player himself and the his knowledge of the sport he’s betting on and the probability theory.
In this article we would like to give attention to the Miller’s Financial Management System, which, in a certain way, determines the betting strategy and thus, can be useful while playing against a bookie.
The author of the strategy, J. Miller, a well-known better have described his experience in his book “Professional Gambler”. There he also described the ways how bookmakers ensure their profits.
Even though Mr. Miller considers himself an expert in American Football and most of his bets he made on it, strategies that he developed can be applied for all other sports.
It’s worth noting that Miller’s system is applicable to outcomes with odds in the range 1.85-1.91, that is, to something that has 50% chance of happening. For the strategy to make sense, bettor must win in no less than 52.85% bets to eliminate profit margin, usually set by bookies and profit.
According to Miller, no more than 2% of bankroll should be allocated to a bet. With this in mind, bets could be increased only when with the 25% increase of available funds on the account. Respectively, bets’ size should be decreased if the bankroll is decreased by 25%.
If the player follows these rules, he is completely protected against the quick loss of the deposit. Besides, if the bet is made on the events with odds within the specified range, the bettor also has a reasonably high chance of success and the payout would still be considerable.
But it is still necessary to carefully choose the events to bet on, if the target is to reach the outlined percentage of winnings. It’s not that hard, especially if the stats of the teams in question are carefully analyzed.