Do you vary your bet stakes......

[dave nz]

Based on the track record on the sport/option you are betting on?

For example bet your sport with the best track record with the largest stakes. Sport with the worst track record the smallest stakes.

In an ideal world many of us would but sometimes it doesn't work that way.
For me I until recently had a bad habit of betting NRL and NBA with decent stakes, even though my record on those sports historically isn't amoungst my best sports.

That said though, my best sports....rugby union, MLB, NHL, golf, netball to name a few, I bet much bigger than the rest and vary my stakes based on track record.

How does it work for you?

[IrishTim]

Yes, I bet bigger when I think I have a larger edge. NFL, NBA, NCAAF are pretty tough to beat for me so I bet them smaller. With AFL, WNBA, props, I can find larger edges and bet more.

[Romanowski]

ideally if you have a good model for a particular sport you use the kelly criterion

a kelly calc, used by warren buffet among others in financial and commodities markets

says that the % of the play is relative to the edge you have, for optimal bankroll growth

problem becomes at times it will tell you to risk up to 20% of your bankroll on one play

some people employ a half kelly, which isnt as agressive