Why South African Online Sports Betting needs a staking plan

Why do we need South African Sports Betting staking plan you may ask? In the last 6 months, South African Sports Betting has not only struggled with a global pandemic, it’s struggled with it’s own pandemic related to problem gambling. Lockdown has resulted in many casino players moving online to the fixed odds gambling websites who have rapidly expanded their offerings into casino style games and almost anything and everything you can bet on including lucky numbers and virtual games.

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These new age punters and online gamblers have flocked to the current approved websites such as Betway, Sportingbet, WSB, Supabets, Gbets, Bet.co.za, Sunbet and others. Some of these online gambling websites have seen record months for sign ups and new players however with the anxiety and depression that lockdown has caused, they have also seen a massive rise in problem gambling. While not being able to get their local casino fix, alcohol, drugs or whatever else they use to suppress their addictions and fear, these players have gambled recklessly. This article addresses the need for a South African Sports Betting staking plan.

Introducing a staking plan, helping South African Sports Betting punters enjoy the entertainment for longer

So what is a staking plan you may ask? Fear not, we have your answers below

A South African Sports Betting staking plan or online sports betting staking strategy is the method of determining how much of your current wallet balance you should be investing on a particular bet. How you stake your money and decide how much to bet on a selection is crucial to ensuring you gamble responsibly regardless of how sure you are of a bet. (Check this example of the surest bet ever, and West Ham proved nothing is ever guaranteed).

There are a range of sports betting staking methods that can be chosen from and you can choose which one works for you. The above punter uses a percentage method of 10%, 5% and 2%. Let’s go through some of the commonly known staking plans.

A Betting Wallet

Most professional sports betting players in South Africa maintain a strict Betting Wallet. For example you may have R1 000 in your wallet and then every time the wallet reaches R5 000 you withdraw the profit which has been made. Below are the strategies and staking plans to help build your wallet.

Hollywoodbets is giving away R25 free wallet for their no deposit sign up bonus. This is a great way to test your staking plan and start online sports betting

Unit Betting sports betting staking plan

Assigning units to bets can be extremely useful as it makes the online sports bettor more disciplined and less likely to over bet an event even if they are super confident of winning. Normally a maximum and minimum unit stake is used, from one unit to ten units for example. Depending on the seriousness of the punter a unit may be R1, R10, R100 or even more.

The more disciplined an online gambler the smaller band of units they will probably use such as one to five. This makes them even less likely to over or under bet on an outcome as the difference in confidence between units will be even more clearly defined in their mind.

For example : You may have stakes varying from 1 to 5 units. Each unit is worth R10. A minimum bet for you would be R10 and a maximum bet would be R50.

The Martingale System

This has been the most common over the last 6 months as casino style punters have moved into the online sports betting space. It is most often associated with Roulette however it can be applied to any sort of betting.

If the odds are even or over, the theory is that a punter can never lose as they just keep on doubling up. The problem however is that the bookies will limit stakes and also limit/block the amount you can bet eventually. This system can be very dangerous and ultimately results in losing everything thus we do not recommend it for our South African online gambling clients.

For example : You bet R1 and lose, So you bet R2 but that loses as well, So you decide to bet R4 and that loses too. You then bet R8 and that wins. You make R8 profit on your final winning bet which after the previous 3 losses of 1,2 & 4 = R7, leaves you with R1 profit.

Percentage of wallet method (our chosen staking plan)

Some punters will consistently bet the same percentage of their bank. For example, every bet placed will be 5% of the bank. This means that during bad runs the stakes will be reduced and good runs the stakes will be increased. The problem with this however is that it doesn’t take into account how confident the punter is about the bet. It can often be better to change this system slightly to take into account confidence. Three levels of confidence can be assigned, with 10% of the bank being a confident bet, 5% being an average bet and 2% being a not so confident bet. The exact percentages used are of course up to the online punter.

We use the 10,5,2 method in our betting and we often relate it to the odds as well as our confidence in the bet. Odds of 1.7 or greater and high confidence get 10%, we very rarely bet on odds lower than 1.7 unless we include them in an acca or bet builder. We then reduce the % based on our confidence in the bet.

Never chase your losses, rather take a break

The biggest mistake someone can make is to chase their losses. Chasing losses is when someone tries to win back what they have lost in a day or week by either upping their stakes or betting on selections they wouldn’t normally gamble on.

Avoid this by setting a limit to how many bets or how much money you will spend day, once reached then STOP betting! If you cannot contain yourself then seek help from South African Responsible Gambling.

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