At the cornerstone of any successful betting strategy stands a solid bankroll management and this is the first lesson that beginners need to learn. Many are simply focusing on finding the best betting techniques, while ignoring this essential element, which explains their lack of success. The Jim Feist method revolves almost exclusively around bankroll management and teaches players how to divide their investment in a sensible way, to offset the risk of downswings.
If we are to sum up the Jim Feist method, then we need to start by emphasizing the importance of keeping stakes sensible. Regardless of how much money you have available for betting, it is paramount never to wager more than 5% of the entire amount. The idea is to maximize the profits, but the top priority is to avoid losses that will cripple your bankroll and make it impossible to recover. In a nutshell, before you try to beat the odds you need to make sure that you can survive the odds beating you.
An important thing to keep in mind is that the standard ratio of 5%, doesn’t mean that you can wager the same amount as calculated in regard to your initial bankroll. Those who win and have more money at their disposal, will actually place bigger wagers, while those who lose and see their bankroll shrink will have to bet less. The percentage makes it easy to calculate the ideal ratio, as you divide the total amount into 20 equal shares.
The rules that make the Jim Feist method are not written in stone and even the 5% commandment can be slightly tweaked for the sake of convenience. For example, players can use a predefined interval of one week or 10 days but not more than that, to make the adjustments upwards or downwards. This means that you recalculate your bankroll after this period of time and stick to the initial wager during this interval.
One would need to be terribly unlucky to lose all the money in less than one week and if this happens, it is not the result of failing to adjust the stakes. Losing 20 consecutive wagers is only theoretically possible, so there is a good chance to rebound before going broke. In the long run, it is recommended to make periodical assessments and reevaluate your position, to stay ahead of the curve.