Hello, just recently started value betting, but haven’t quite decided on whether to use the “adjust for open bets” or not. What’s the general consensus on it? I’m aiming for 80-100+ bets a day, so naturally my bets have been decreasing quite a bit at the end of my bankroll.
Hi @akatoree, in my opinion it doesn’t make any sense to use “adjust for open bets”.
Look, what is the logic behind placing a bet you get in the morning @2.1 odds and value 10% for £50 and placing the completely same odds bet with the same value for £15 in the afternoon, just because you have some open bets? This would suggest that the bets you place at the beginning of your trading day have higher value that those later on in a day… At least, for me there is no logic behind it whatsoever.
Some argue that this will prevent you go broke, but it’s complete bullsh*t IMO, as the bets earlier in the day (at higher stakes) could be losers and winners in the afternoon. Ofc the variance will take care of it all in the end…
I think you are better off calculating how many bets you do in a day vs your bankroll and making sure that you’ll have enough money for all the bets.
Good luck mate!
1 Like
“Adjust for open bets” is protection if you hit a particularly big downswing.
If you have a smaller bankroll that is frequently used up during the day, without the possibility of adding more funds – it should definitely be enabled.
If this does not describe you, you can disable it.
Well, if one has a smaller bankroll that is frequently used up during the day, then they have a really poor money management I’d say. Because they are betting for too much. Or is there something behind this feature I don’t see?
With adjust for open bets is enabled, your stakes will decrease so you can never bet your entire bankroll, in theory.
And sure, your bankroll should optimally be higher than one day’s betting.
I completely agree with @Chachar on this. If you are at loss, or have small bankroll, then lower your Kelly % to a lower value and make sure that you update your bankroll accordingly.
I can see some benefit of enabling AFOB if a lot of your staking is on high odds bets. But at the same time the Kelly will reduce your stake on those more “improbable” bets.
1 Like
They might be hiding something. Or not 
Agreed, lowering your Kelly and also your Max bet size might be better strategies.
But this feature is mostly aimed at inexperienced beginners with small bankrolls. They won’t know how much they will turnover each day, and might not have read up on the Kelly criterion.
Yes you are right. It can help inexperienced players to manage their bankroll.
It takes some time to get the “feel” of how many bets you will be able to put down, and at what weekday and how far into the future you can tie down your bankroll/capital.
Each time I think that I have the hang of it something new comes up; for example the summer season…