How We Suggest you Regulate Your Betting
Our Staking Plan comprises:
The “Betting Bank”
This is probably the most important aspect of our systematic and disciplined approach to backing and laying racehorses.
You need to set a “Betting Bank” that you are going to use. We suggest that this is an amount of money you can afford to lose in order to gamble responsibly.
It is most important that you decide upon this figure before backing or laying ANY of our selections.
The amount you shall be staking on each race is entirely dependant on this figure. Firstly, you shall decide upon what that amount shall be. Then, as your bank grows (and, from time-to-time, drops) your stakes shall change accordingly.
The Staking Plan: Betting to a percentage of your Bank
Once you have settled upon your “Betting Bank” – either through a first-time deposit in Betfair (or whatever betting exchange you decide to use); or through the amount you have in that account following the preceding days backing and/or laying – you shall have to work out a percentage of this that will be the amount to Stake on each selection we provide.
For lay betting, we suggest an initial liability of NO MORE than 5% (indeed this figure should be as low as possible) of your total “Betting Bank” for each suggested lay bet.
This means that for a bank of £500 your laying liability would not exceed £25. For example, if our suggested lay was 11.0 on Betfair (10-1 in “old fashioned” odds) you would lay that selection for £2.50 which equals a liability of £25.
If a selection exceeds the lowest figure you could lay at – Betfair has a minimum bet of £2, therefore you could not lay at more than 13.5 – you have three options:
- Lay the horse in the “Place market” – this would be at a shorter price, however, you would lose were the horse to place in a position paid out upon in that particular market. This is a good option for those who begin with lower “Betting Banks” as it allows them to play on more races initially. The prices available on Betfair are also generally favourable to layers as they often have huge “over-rounds”.
- Leave the race alone – there will always be another opportunity – you DO NOT want to get over-exposed: if the race went against us, which can and does happen occasionally, you would be losing too much of your bank.
- Use a small trick that allows you to make lay bets on Betfair to your maximum liability below the minimum £2 stake! To find out how, click here!
We also suggest that, to further reduce your liability, you reduce the percentage of your bank that you risk, as soon as you can, to avoid harming your bank substantially should an adverse result occur.
In order to make your betting profitable, we advise that you set targets that, upon reaching, you will withdraw money from your Betfair (or other betting exchange) account. E.g. say you begin by depositing £500 you could say that when you reach £1000 you shall withdraw £250. We also recommend that this target figure should rise each time you meet it in order to continually increase your “BettingBank” whilst simultaneously making regular payments into your ordinary bank account – thus making a profit from your betting!
An example of this is shown in the table below – obviously the maximum lay price and the percentage figure will fluctuate in the interim periods between each target being achieved, however, over the longer term this is how our laying Staking Plan operates. You can see that you should be at break even after just a short while. In the past, we have increased our bank by as much as 20% in one given day!
|Betting Bank||Target Figure||Amnt to Withdraw||5% of Bank||Max Lay Price|
In comparison, the stakes we suggest on our backing tips are relatively straightforward – inasmuch as you do not have to work out your liability (it IS the same as your stake!). We suggest the same 5% figure as that employed for laying, and also have the same principle of regular withdrawal upon reaching rigid targets to ensure we make money from our betting.
All suggested bets are advised to be played each-way if the price is right – e.g. if the amount available on the place exceeds 2.0 and therefore a profit can be made for a place. When this option is available, you should split your stakes.
For example, if your “Betting Bank” were £100, you would be staking NO MORE than £5 on each individual race. Were you to be able to play each-way, then you would have half on the win and half on the place – £2.50 win and £2.50 place.
The targets used for the Backing Service may look like those in the table below.
|Betting Bank||Target Figure||Amnt to Withdraw||5% of Bank||Max Stake|