diversification is the key to success..... in my opinion

[nattekut]

As the topic title says in my opinion is diversification the key to success in gambling in general. So I am not indicating on stake only. When I started gambling many years ago I put to many eggs into one basket. I was betting large amount on sport bet accumulators, entered high buy in poker tournaments and made insane high bets on casino games. During those years if I would have had a graph you would have seen insane peaks in the graph cause when I won it always was a couple thousand or even ten thousands of $ at once. During those years I for example won a poker tournament for 40k and I had multiple winning sport bets bringing 10k+ each..... but when at the end of the year I made a summary I still lost a huge amount of money.

So after the first 4 years and loosing about 100,000$ I quit gambling until I figured out a way to finally become a little successful with gambling. I found out diversification in a lot of smaller portions was my personal key to success and thats what I am doing for some years now. You can compare it with a crypto portfolio. If you have 1BTC and spread it over 5 alt coins will always be more risky than spreading that same 1BTC over 100+ different coins. If 1 of the coins is doing bad you still have 99 others that can cover.

So how did I used diversification in my gambling?

• In my poker I started playing much more volume. Before I entered for example 10 tournaments with a 50$ buy-in but after changing my mindset I started playing 100 tournaments with a 5.5$ buy-in. Doing bad in 1 tournament wouldn't have much effect on your bankroll. But by playing 50$ and not reaching the money would affect my bankroll already with 10% which means next one I already need to reach the money just to get break even. By changing to lower limits and diversify my bankroll over many tournaments a lowered the variance and increased my winning odds. Its easier to make a very deep run in 100 tournaments instead of trying to run deep in 10 tournaments.
• for my sport betting I did the same. Instead of placing accumulator bets of 50-100-250€ I started to use value betting software and started by placing a massive amount of 0.5€ up to 2€ bets on single games. Small example at this very moment I have over 2,000 different bets running for less than 200$ in total. I rather want to make 10-20% profits on my 2,000 bets than risking 200$ on a single bet and to loose all at once.
• For casino games like stake I changed my way of playing by regularly playing different games and not stick to the same all the time and I drastically lowered my basebet.

 

Until now I am very happy that I found my personal key to some success in gambling. Since I started to diversify my bankroll more in all different segments poker, sports and casino I managed to have 7-8 years of consecutive profits. It maybe isn't the most sensational way of gambling but it is the perfect way to turn gambling in some kind of secondary income to increase your life standard.

 

[JannibAndelo]

This is, by far, the most interesting observation about gambling in general. I learned a lot in this. Thank you, man. 😊

[barbaris]

I think that everyone has their own ways of making profit in different places. Nor am I a supporter of keeping all the eggs in one basket, because the risk of losing everything is too great. But your method seems to work.

[nattekut]

22 minutes ago, Vladv26 said:

I would say more important than diversification is bankroll management. You can play any game, try any strategy, and do whatever you want but without a good management of your bankroll you will never be able to make a constant profit. If you don't control your wagers you will always change you basebet meaning you will win and lose different amounts each time and your routine will always change.

The diversification includes a strict bankroll management. Its like I explained in my post. Rather do 100 buyins of 5$ in poker tournaments than 10 games with a 50$ buy-in. Same for sport betting. rather using small instalments in single bets than betting to high in an accumulator or bet to high in a single bet in casino games.

[williamshennie9]

I like poker, so I am on the same page as you with that one. I'm still new to sports betting, so I will need more time to get into that. When Stake adds it, I will definitely do research into it

[Kate]

I heard that you had won lots after loosing i guess your luck is just starting to grow now so i guess you would win much more than what you would loose . But impressive and also sad at same time. 

[SLFJ]

So after the first 4 years and loosing about 100,000$ I quit gambling until I figured out a way to finally become a little successful with gambling. I found out diversification in a lot of smaller portions was my personal key to success and thats what I am doing for some years now. You can compare it with a crypto portfolio. If you have 1BTC and spread it over 5 alt coins will always be more risky than spreading that same 1BTC over 100+ different coins. If 1 of the coins is doing bad you still have 99 others that can cover.

You just have to know your bankroll management and really play with it till you notice the best that you can make and not just bust because of not knowing the bankroll managing.

[nattekut]

7 minutes ago, SLFJ said:

So after the first 4 years and loosing about 100,000$ I quit gambling until I figured out a way to finally become a little successful with gambling. I found out diversification in a lot of smaller portions was my personal key to success and thats what I am doing for some years now. You can compare it with a crypto portfolio. If you have 1BTC and spread it over 5 alt coins will always be more risky than spreading that same 1BTC over 100+ different coins. If 1 of the coins is doing bad you still have 99 others that can cover.

You just have to know your bankroll management and really play with it till you notice the best that you can make and not just bust because of not knowing the bankroll managing.

thats exactly what I am doing now. like I said first 4 years I lost about 100,000$ but I was just gambling randomly without thinking about or caring about the money. But since I started learning how to become more profitable an successful with betting and after using multiple tools including good bankroll management I started to become more successful

[cryptofly]

Thanks for this important topic.  Diversification indeed the most important key to success, and when you go beyond the gambling industry, like the cryptocurrency ecosystem, then that single word means all, Diversification is a most when you talk about cryptos.  Useful topic.  Thanks. Good luck.

[wngo123]

Quote

 

So how did I used diversification in my gambling?

In my poker I started playing much more volume. Before I entered for example 10 tournaments with a 50$ buy-in but after changing my mindset I started playing 100 tournaments with a 5.5$ buy-in. Doing bad in 1 tournament wouldn't have much effect on your bankroll. But by playing 50$ and not reaching the money would affect my bankroll already with 10% which means next one I already need to reach the money just to get break even. By changing to lower limits and diversify my bankroll over many tournaments a lowered the variance and increased my winning odds. Its easier to make a very deep run in 100 tournaments instead of trying to run deep in 10 tournaments.

for my sport betting I did the same. Instead of placing accumulator bets of 50-100-250€ I started to use value betting software and started by placing a massive amount of 0.5€ up to 2€ bets on single games. Small example at this very moment I have over 2,000 different bets running for less than 200$ in total. I rather want to make 10-20% profits on my 2,000 bets than risking 200$ on a single bet and to loose all at once.

For casino games like stake I changed my way of playing by regularly playing different games and not stick to the same all the time and I drastically lowered my basebet.

 

yes of course diversification of the bet amount is the key. You have much more chance to win when placing many bets than just one or a few big bets. On sake we can observe this when we have low balance. If we proceed with high bet amount then we quickly loose but if we go with lower bets we make many of them and some of them will be successful. I even do that when I have large balance let's say 1 million satoshi I prefer to play with 1000 satoshi and making my way up. This way I can make many failed bets and still win. If I bet large then I could win huge however my balance would melt very quickly if I wasn't lucky. However on the other hand it is important not to use the same strategy all the time in gambling because none of the strategies work 100% over the certain period of time. That's why I do things that are unexpected. Often change my bet amount. Sometimes betting large, somtimes very small. I change the games frequently. If I win even small amounts I move to another game to play for a while, but if I don't succeed in that game then I'm not playing until I win , but move to another game and so on.Never stuck to one game and one bet amount. This strategy one game one bet amount was successful for me only once. At the very begining i was betting 1000 satoshi and Hilo and was able to move my way up all the way to 1 million and then I continue with the same strategy and lost. Since then I try many diffeent strategy and all I can say is just do things that are unexpected and sometimes even crazy. After all it's gambling , it's impossible to win without taking the risk. If we play risk-free then we will bust. First of all you can't play risk free in the first place, you can at least play low-risk and it really sucks because it won't get you anywhere. To win you need to play. And when you play you need to take the risk however not always just from time to time.

[nuuuitsjdragon]

So in summary, play everything with a smaller base bet, remember to withdraw often and never, ever stick to one game and be stubborn? 

Good tips. 😎

[djonox]

Really super good explanation of your point of view that I find very interesting maybe I'll do the same and follow your reasoning

[ArmedRaccoon]

Thank you for the story, it's really interesting and useful for me as a newcomer!

[Enzo]

By far the most interesting way of gambling I've heard so far. I'll have to give this a try because it sounds successful for you.

What do you do when your balance is small to start with? Diversifying too far has to be less profitable right?

[nikowin88]

Hi mate ! 

Nice post! Very useful! You did well and you story should be Inspiring for us all. 

One of the rare post I read lately that has a rational approach of gambling. 

I'm still thinking on how I could use it in my gambling strats. I don't do poker but sportsbet I do and casino games too.. And I'm recognizing my self in what you said you had : big wins but a the end of the year big losses. I will try to figure out how I could take advantage of your idea. 

Thanks for sharing 😉