The Miller betting system is a popular betting system adopted by the famous bettor John Miller in America. Miller also published a book on the same called the professional gambler. Initially, Miller focused on the Miller betting system to make wagers on American football and college football games. With this perfect betting system, Miller adopted versions of the strategy for other sports betting events. Also, financial investors and risk managers use the system. For example, a punter utilizing the Miller betting system may have a bankroll of $1000. It is $1000 spread across multiple betting activities in a month or various weeks. The Miller system advocates punters to efficiently bet size based on their total bankroll. Because the Miller system is a low-risk system, punters are advised not to wager more than 1% of their bankroll on a single wager. In this example, a punter will not wager more than $10 in a single bet.
A punter will utilize a $10 wager until they can win $250 or are up by 25%. At this point, a punter’s total betting funds are $1250. At this point, the punter recalculates the 1%, which is equal to $12.5 on each wager. A punter will continue to wager 1% until they make $312.5 or up by 25%. A punter can continue to repeat this process as many times as they want. However, a punter shouldn’t attempt too many streaks at once. A long line can result in higher risk without the punter securing any profits. Taking the example above, if a punter reaches $2000, they can reset their wager to $10 and their bankroll to $1000 while securing the other $1000 as profits.
Features Of The Miller Betting System
The Miller betting system has multiple advantages and a few disadvantages rolled into the features of the betting system. Some of the Miller betting system features include a low possibility of going bankrupt, must place wagers on even odds with an equal payout, and including the house edge in the probability of winning a bet.
1. Possibility Of Going Bankrupt
A punter has a low possibility of going bankrupt when adopting a Miller betting system. If a punter has a bad run of luck, they would need to lose 100 wagers in a row to deplete their entire bankroll. Statistically, a punter will win 47 chances out of 100 more than 90% of the time. It’s impossible to lose all your funds utilizing this strategy because of the wagers in low-risk games with an equal chance of winning for the punter and the bookie.
2. Wagers On Sports With 2x Odds
Miller’s betting system is when the odds and payout on a particular wager are 2x or equal to the amount wagered. I.e., a $10 gamble pays out close to $20 (including the original stake). Even bets that pay out $19 or $21 are accepted to account for the house margin/edge. The house edge is the minimum and maximum profit the house makes on each wager. One of the disadvantages of this feature is punters have to consistently find events with actual outcomes, which can be harder to do in sporting events.
3. The House Edge
A punter doesn’t have an equal chance of winning, but 47:53 in favor of the house. This house edge becomes more apparent after several wagers are in the long run. Different bookmakers set different odds, and the odds and potential profit available to a punter vary from each betting service. Betting services have an additional edge depending on the service type, registration location, and operations.
A punter can still lose wagers and experience losses utilizing the Miller system. On average, if a punter wins anything less than 52 out of 100 predictions, the punter will end up with beatings from their starting bankroll. However, any additional losses are limited to the low stake of 1%. Some of the betting events punters adopt the Miller betting strategy include football wagers, casino games such as roulette and blackjack, Esports wagers, and other types of wagers.