Understanding the Strategy
Recognized U.S. punter John R. Miller, who penned “Professional Gambler,” birthed this strategy. Originally designed for American football wagers, it later found its way into other sports.
Miller’s method focuses on events with odds ranging between 1.85 and 1.91 – essentially a near-even chance. In an ideal scenario, these odds should be 2.0, but they’re reduced due to the bookmaker’s cut.
This bookmaker’s cut or margin is their built-in profit for setting the odds. You can explore more on this topic in another piece we’ve written.
Given the bookmaker’s margin, for this method to be profitable over a sustained period, punters must accurately predict outcomes 53% of the time.
On the topic of wager amounts, Miller suggests staking a consistent 1% of your starting bankroll on each event. This continues until there’s a 25% growth in the bankroll.
In layman’s terms, if you kick off with a $1000 bank, each bet should be $10. When the bank increases to $1250 (a 25% hike), each bet would become $12.5 (1% of $1,250). If the bank later swells to $1500, each stake would be $15, and this pattern continues.
Strengths and Weaknesses
The undeniable strength of Miller’s approach is its potential profitability. But there are prerequisites for substantial gains:
On the downside, Miller’s method isn’t a surefire way to profit. If punters can’t consistently predict more than 53% of results correctly, their bankroll will deplete.
In Conclusion
We’ve dissected the widely-practiced Miller’s betting method today. While it comes with challenges, it offers distinct advantages.
A final point: some sources advocate for staking 2-3% of the initial bank instead of Miller’s recommended 1%. Our stance? Stick with the original. While betting more can increase profits during winning streaks, it can equally amplify losses during downturns.
