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Betting Banks and staking

One of the most essential factors for any professional gambler is their betting, as I
have already mentioned, it is imperative that you separate your personal funds to your
betting funds.

Once you have your betting bank there are a number of different ways to use it. You
can’t just go placing any amount of money on a horse, football match etc…. You need
to follow an appropriate staking plan, below are a couple that I use myself.

The following section is taken from http://www.ukhorseracing.co.uk

Staking Plans

This section should really be called "What is a Staking Plan, and do I need to
bother?". We have placed this discussion in the New To Racing section of the UK
Horse Racing site because this is one of the most important cornerstones of successful
horse race betting.
A staking plan is a method of controlling how much each bet should bet. There are
simple staking plans and there are more complicated plans. But at the end of the day
all staking plans have the same purposes

1. To ensure that the possibility of going bust is kept to a minimum.
2. To try to get as high a return as possible.

Staking plans vary in their complexity; from the exceedingly simple to the
fantastically exotic and sophisticated. Feel free to select which one, or a combination,
of those which suits you the best. We recommend that you start off with the UK
Horse Racing Staking Plan which is what we use ourselves.
Do I need a Staking Plan?

Simply put; yes, you do. Human beings are notorious about being lazy, over
optimistic or fall foul of one of many of our many foibles which make up the human
condition. Without a staking plan it is so easy to see one's betting bank go under.
We have seen people go bust (when one's betting account reaches zero) because they
thought that they didn't need a staking plan. We have never seen anyone succeed
without one no matter how disciplined they are or, more accurately, how disciplined
they claim to be.

There are two aspects to successful betting; the first is to have the right selections.
Without a decent set of selections one is never going to make a profit no matter what
one does. The other aspect is the money side of things; how much does one put onto
the next bet? This is the function of the staking plan; without this one could be placing
the wrong stake onto the wrong horse. Ultimately betting without a staking plan will
negate good horse selection.

Level Stakes Staking Plan
This is the simplest staking plan of all and is somewhat flawed by its simplicity. The
principle is that the total amount of funds is divided into a number of stakes and that
amount is staked on each bet from now to eternity.
For example, if one starts off with £1,000 and one decides that this bank ought to
cover 200 bets then divide 200 into £1,000 which means that one bets £5 on ever race
for evermore.
The upside of this Staking Plan is its simplicity; one works out the amount to be
staked once. Then for the next umpteen thousand bets one places the same amount on
each one. The other major plus point is that if one has a sensible number of bets in the
bank (in this example we have 200) then the chances of going bust, which is the prime
concern for a staking plan, is negligible. However, the downside is that this plan is
restrictive and it doesn't allow for the secondary concern; namely to maximise the
returns from one's betting.
The only time we would recommend this staking plan is for newcomers to the world
of betting. Even after reading the papers and watching the racing with live money
riding on the horses there is still enough for the novice to be aware of. Therefore, for
simplicity's sake we recommend this plan for the first couple of months until the
novice has got used to the other aspects of racing then can afford to divert some brain
power to the more sophisticated staking plans.
We will say it here and will, without apology, say it again and again that one needs a
wide betting bank. By this we mean that the betting bank should contain enough
money to cover lots of bets. We suggest that a betting bank should contain 200 bets
(this is sometimes called a 200 point betting bank). We would, if pushed, admit that
100 points is suitable but there is no way in which we would go lower than this. A
200 point betting bank containing £200 at the start this would mean staking £1 bets.
Do not be discouraged by the seemingly low stakes.

If one's selections are more than half decent then the bank will grow. Remember that
the prime directive of a staking plan is to prevent the bank from going bust.
Sometimes one will see tipsters whom recommend that the subscriber follows a ten
point betting bank. Do not listen; a ten point betting bank will, as sure as day follows
night, lead to a bankrupt bank. We know a number of professional punters and it can
be no co-incidence they all have a good sized bank and that none of them have ten
point banks.
Example of an initial £2,000 bank with 200 points/bets:


Bet Stake Result Odds Bank
1 £10.00 Lost 3/1 £1,990.00
2 £10.00 Won 5/2 £2,015.00
3 £10.00 Lost 3/1 £2,005.00
4 £10.00 Lost 2/1 £1,995.00
5 £10.00 Lost 7/2 £1,985.00
6 £10.00 Lost 3/1 £1,975.00
 

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