Betting unit
A betting unit is a fixed standard stake, usually 1% to 2% of the money set aside for betting. Bets are sized in units, so results compare across bankrolls.
Example
With a bankroll of 500 and a 1% unit, one unit is 5. A two-unit bet is 10, and a losing week of eight units costs 40.
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Related terms
Kelly criterionThe Kelly criterion stakes the share of a bankroll that maximises its long-run growth: the edge divided by the net odds. With no edge, it stakes nothing.Chasing lossesChasing losses is raising stakes, or betting more often, to win back money already lost. It turns a losing run into a big loss: a sign of problem gambling.VarianceVariance is how far real results stray from what the odds and the chances predict. In betting it is large: good bets can lose for weeks before the edge shows.