Friday, December 04, 2015

Dremeber's 1K challenge



I have seen many sports betting challenges on the Internet in the trend of turning amount x into 1 or 2k with a 1 bet a time or day!
My 1K challenge is based on this principle only with a banking rule addition.
Most of these challenges start with one bet and they keep on betting with the profit and original stake from the previous bet, until they ran into a loosing bet. After which they start all over again. So each bet they are risking it all. I do understand that this is maybe the fastest road to the ultimate goal, but I'm not willing to go all-in at every bet.

This is why I did introduce some kind of banking hopefully preventing me from going bankrupt.
2 kinds of banking principles could be used for this challenge.
One where you do bank some money after a number of winning bets and the other were you do bank a % of the profit after each winning bet. I do prefer the other.
Why? If you are having a bad streak your bankroll dry’s up incredibly fast and maybe you will never reach your banking point.
With banking some of the profit, each winning bet will give you some money back as return on investment; it can be compared with the pay-out of dividends on the stock exchanges.
While this does not guarantee that your initial investment will be recovered, it will slowly rebuild/increase your bankroll.

During my trial of the challenge I did manage to place 15 winning bets in a row, without banking I would have lost it all, with the banking principle I did loose my initial stake of €2 but I was capable of increasing my bankroll with 50%.

Due to the nature of the betting scheme I do place more bets that I normally do, but this also has a positive thing behind it. Unibet does show their appreciation once in a while by giving me a free bet of around €3.
So my idea is to bank a certain % of the profit made on the bet, this % increases when the ante of bet increases. I did set up following banking table. There is no mathematics behind the %s but is just something I came up with.

 Ante                  Banking
1-10                    20%
10-20                  25%
20-30                  30%
30-50                  35%
50-75                  40%
75-100                45%
> 100                  50 %

So suppose my first bet is a winning one with an ante of €2 and 1.2 odds. This would mean that the ante of my next bet is €2.32
The profit was €0.40, and 20% of this is €0,08,
As you can see in the beginning the banking is minimal.
When a bet is for instance €15 and the odds are 1,3 then I would be able to bank €1,13.

My challenge has only 4 strict rules.
Rule 1: Always at max 1 running bet.
Rule 2: After a loosing bet, the new ante for the next bet will be the maximum of €2 of 10% of the current bankroll.
Rule 3: Banking rules should be followed strictly. The banking rules will be explained below.
Rule 4: When the current betting streak reaches 1K, I will withdraw €500.

Starting bankroll is €33,05.
The preferred bookmaker is Unibet.

Based on my starting bankroll and my banking principle I do have at least 13 attempts to reach the 1K mark.
Let's see if I can do the impossible!

Cheers,
Dremeber