One of the most commonly-encountered terms on tipping articles around the internet is ‘low-roller’ and ‘high-roller’. The term ‘roller’ itself originates from the action of rolling dice, as one might in a game of Big Wheel or Craps. However, it has since become an all-encompassing term to describe someone who places a wager – or, perhaps, ‘rolls the dice’ on something speculative.
For some people, it seems as though neither approach is without its faults. In the opinion of those who take an uncompromising approach to betting, low-rolling is the act of a coward, and yields next to nothing in terms of payout. On the flipside, most people see high-rolling as a foolhardy approach that can ruin people’s livelihoods.
There are a number of reasons that someone may stake a higher or lower wager than usual. Higher wagers (say, $20 or greater) will typically be on those with ‘favorite’ status, or one of the frontrunners in a futures market. In the latter case, the high wager may not necessarily be on the favorite, but a team with an improving overall situation that is going relatively undetected by bookmakers.
For those that play it safe and go for lower wagers (below $5, for instance), the underdog is most readily backed. Alternatively, a favorite may be backed to win in a certain way – or by a specific method – for a meaningful payout after a lower wager. Low-rollers may also consider putting several favorites into the same multiple bet, and while this seems clever at first, the obvious catch is that all must prevail in order for the bet to come through.
Ultimately, it is advisable to employ both lower and higher wagers to ensure an optimal balance between risk and reward. While this strategy may not be within the means of some people, more experienced bettors will pick a range of bets and wager amounts that lower as the odds extend.
For instance, if using the 2019/20 odds for the Premier League over in England, this is the sort of list that such a bettor might employ:
Manchester City (Odds: -173) | Wager: $20 | Potential Profit (PP): $11.56
Tottenham (+466) | Wager: $5 | PP: $23.30
Chelsea (+666) | Wager: $3 | PP: $19.98
In doing this, the bettor has done a lot more to avoid a loss. Even if odds-on favorites Manchester City win, but neither Tottenham nor Chelsea finish in the top-two, the bettor is still $3.56 in profit. Here, there is also the potential for more than one bet to come through and further boost winnings, if Manchester City win the title and either of the other two finish second.
While the $3.56 payout does not seem like much, it represents something of a ‘free hit’ on more speculative bets. For instance, the following season could see the bettor wager that $3.56 on a much more speculative outsider – such as Everton, who would perhaps be priced at +10000 each way – without incurring a loss.
Unlikely though it is to come through, the bettor would receive $356 from a very low bet, all of which would be pure profit.
Aside from potentially life-changing winnings, the good thing about a higher wager is its straightforward nature. For responsible gamblers, higher wagers will only be placed on single events occurring, and ones which carry a likelihood of no less than around 25%.
If using the standard odds format, a price of over +400 denotes a less than 25% chance of the event occurring. This is calculated simply by dividing the price shown by 100, and then dividing the value of that (in this case, 4) by 100 to get the chance of occurrence (25%). The value of the price divided by 100 is also the multiplier used to calculate payout on top of the returned stake.
In practice, however, that means a 75% chance of failure, which to most people simply isn’t worth the risk. In fact, if the price doubles (say, from +400 to +800) the likelihood of the event occurring is considered halved (from 25% to 12.5%).
Ultimately, the only way to bet is within your means. In accordance with regulations, all bookmakers listed on OddsChecker enable you to set wagering limits over a set period of time. This enables bettors with all levels of experience the opportunity to experiment and explore within their own parameters without incurring needless losses.
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