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Most advice regarding Bank roll management suggests risking 1 or 2% of your bank roll per bet.
Does this also apply when laying? If not what percentage of your bank roll can you risk per lay and still guard against a big downturn in variance (i.e laying a few winners in close succession)?
Does this also apply when laying? If not what percentage of your bank roll can you risk per lay and still guard against a big downturn in variance (i.e laying a few winners in close succession)?
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It's the same calculation, a lay bet can be thought of as a "back to lose" back bet.
In response to your 1-2% per bet remark, read this for a better way of staking:
http://en.wikipedia.org/wiki/Kelly_criterion
as for laying
laying £5 at 26 is the same as backing £125 at 1.04
To convert a lay to a back:
odds: 1/(lay odds-1)+1
stake: lay stake * (lay odds-1)
so in this case:
1/25+1=1.04
5*25= £125
http://en.wikipedia.org/wiki/Kelly_criterion
as for laying
laying £5 at 26 is the same as backing £125 at 1.04
To convert a lay to a back:
odds: 1/(lay odds-1)+1
stake: lay stake * (lay odds-1)
so in this case:
1/25+1=1.04
5*25= £125
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