Flat betting and the Miller’s betting system
Flat betting and the Miller’s betting system
Since the dawn of time, people have pitted their cognitive skills against Lady Luck. Gambling, in its many forms and guises, is as old as the hills. Over time, gamblers have devised many strategies to try and outwit the unpredictable and gain some fortune in games of chance.
Today, there are several betting systems in play. Some only apply to one or two specific games, while others have proved their mettle in a variety of games.
You may wonder how professional gamblers manage to keep on gambling and turn a profit. They implement specific betting systems or strategies. These are plans they follow on how much, how often, and when to place their bets.
Casual or inexperienced gamblers tend to bet haphazardly. Essentially, this means one bet varies from the next. Often, when people lose, they tend to chase wins and double or triple their bets to make up for losses. Statistics show that this is almost a certain way to lose one’s money.
When one follows a betting system, on the other hand, one has a set bankroll and a fixed idea of how much to spend on each bet. In this article, we’ll explore flat betting systems and take a closer look at what the Miller’s betting system has to offer.
What is a flat betting system?
Flat betting refers to your wagers. This is how much you bet per round or hand when playing table games. This strategy dictates that you place flat or fixed bets to gamble.
A flat betting system means wagering the same amount on every hand or round. So, if your bankroll is $200 and you decide to bet 1% of this budget with each bet, you’ll consistently place wagers of $2. By following this system, you’re likely to stretch your bankroll and playing time and end up with some profit in hand.
What is the Miller’s System?
Before delving into the Miller’s betting system, let’s talk about Miller. John R. Miller is a famous American gambler. He published a book titled Professional Gambler and developed – as the name suggests – the Miller’s System.
This strategy was initially intended for betting on American football, but sports punters soon adopted and adapted it for other types of sports betting. Today, gamblers also apply the Miller’s System to popular table games such as roulette, blackjack, craps, and baccarat.
Ideally, this strategy is designed for money-even bets where players have a 50/50 chance of either winning or losing. Just keep in mind that your chances are never really even due to the casino house edge.
The house edge is a term in gambling that describes a game’s advantage over players over a period of time. It’s a mathematical calculation that’s expressed as a percentage. This varies from game to game and from casino to casino. You can regard this percentage as a definite loss against your bets.
How do flat betting and the Miller’s System work?
The Miller’s System entails betting a fixed amount repeatedly until you reach a certain profit margin. To implement this system, you must set a bankroll. This is the budgeted amount you wish to gamble. According to Miller’s system, you’ll bet 1% of your initial budget or bankroll until you increased it by 25%.
Once you’ve reached the 25% cap, you’ll increase your bets to once again equal 1% of your bankroll. Miller believed and proved that this strategy keeps you in the game for longer and brings a profit within reach.
For example, if you start with a $500 bankroll, your initial bets would be $5. You’ll fix these bets for every hand or round until your bankroll has increased by 25%, which will then put it at $625. Your next succession of bets would then equal $6.25 until you reach the next 25% on your bankroll. Thus, you only increase your bets if you’re up, and essentially, you’re then betting the casino’s money and not your own.
Miller’s System forms part of the flat betting strategies because you only increase bets when your bankroll increases. As mentioned, this system was initially designed for sports betting, but gamblers found they could easily adapt it for various table games.
A flat betting system in roulette
Gambling experts feel that a flat bet roulette system is probably the safest route beginner gamblers can take. Novice players tend to quickly lose their money with progressive systems such as the Martingale.
As described, flat betting doesn’t require bet adaptations or changes. It’s simply repeating the same bet with each spin. With even the best flat betting roulette system, you’ll lose over time due to the house edge. But these losses should be minimal.
Theoretically speaking, if you’re playing European roulette – the roulette version with one green pocket or zero – and you bet on red for 37 wheel spins, you’d probably win 18 times and lose 19 times. This means you’ll gradually lose to the house edge.
Now, if you combine straight flat betting with Miller’s System, you could end up making a higher profit. By increasing your bets when you hit the 25% profit margin, you can potentially win more. However, bigger bets also mean bigger losses.
Players prefer to use a flat betting system for roulette on inside bets. The inside bets are those in the inner circle, such as betting on a specific number. This system can also be implemented with split bets, which is when you bet on two numbers in the inner circle.
A flat betting system in blackjack
Many contest that betting the same amount over and over again doesn’t constitute a true blackjack betting strategy. Others, however, firmly believe that’s the only way to get ahead in blackjack, and the notion does seem to have a sound basis.
When applying a flat betting system in blackjack, you simply establish your bankroll and bet a specific amount per hand. If you integrate your flat betting with the Miller’s System, you’ll obviously increase your bets after that 25% bankroll gain as explained above.
One of the things to keep in mind with blackjack is the side bets. You’ll get instances where you’ll have to decide to split or double down on your hand. In this case, remember that the flat bet only applies to the base hand you initially received. It’s thus important to make sure that your flat bet for base hands is not too high.
It’s also important to cash out when you’ve reached your profit goal. Remember, winners know when to stop. A blackjack flat betting system is easy and only requires some pre-planning. It also eliminates excessive losses due to risky bets.
A flat betting system in craps
Craps, the fast-paced dice game, is a solid favorite around the world. The well-known pass, don’t pass, come, and don’t come are like siren calls to most gamblers.
A craps flat betting system mainly applies to your opening bet and doesn’t account for the odds. People thus use their craps flat bets for wagers on the line. Remember, any bet on the pass line goes up against a house edge of approximately 1.4%, regardless of the odds.
This is where the beauty of a flat bet comes in. If you split your bet equally between the line and the odds, then you effectively lower the house edge to roughly 0.85%. You can decrease the house edge even further if you keep your line bets the same but increase your odds bets. For example, putting $20 on the line and $100 on odds brings the house edge down to about 0.33%.
As with any other game, a flat betting system is not a guarantee in craps. Luck is a fickle and unpredictable thing. Thus, a lowered house edge doesn’t warrant a win.
A flat betting system in baccarat
Baccarat is one of the most straightforward and enjoyable casino games. Players basically place their bets and sit back while the dealer does the work.
A flat betting baccarat system is one of the easiest ways to approach your bets. It’s gentle on the pocket and can prolong your enjoyment and game time.
By now, you should be fairly familiar with the meaning of a flat betting system. You repeatedly bet the same amounts or units on each hand. The same applies to a baccarat flat bet system. For example, if you bet $5 on a round, you just repeat the $5 bet for your other rounds.
When you bring in Miller’s approach to your baccarat flat betting system, you’ll have to keep your bankroll increases in mind as well. Remember to up your bets once your bankroll increases by 25%.
Combining flat betting and the Miller’s System provides you with a framework for your gambling endeavors. One of the chief benefits is that it establishes an actual possibility of making a profit.
However, players must be disciplined and patient. These profits may not be extreme or mind-blowing, but they are still profits and money in your pocket at the end of the day.