HOW MUCH SHALL I BET?
If you are new to betting or indeed a seasoned investor, a staking plan is the method used to assist you with your bankroll management, a bankroll is a sum of money that is set aside to use solely for your betting, in order to maintain a high degree of control in the profit and loss fluctuation of your betting, taking gambling more professionally and with controlled risk rather than haphazard, in my 50 years of betting I have found that for most punters bankroll management and discipline is the largest struggle, without a staking plan it’s so easy to get carried away, chasing losses or betting to high when your winning and find yourself backing loads winners but making no money.
When looking at staking plans there are many options, however the one I would suggest using is below
FIXED STAKING PLAN
My advice is to always bet within your means, and stick to a fixed staking plan, meaning you’ll bet the same amount on each wager you place, it does not matter what the odds are on the respective horse, another name for fixed staking plan is level stakes
When using this type of staking plan, you will need to determine how much your set stake will be per bet, one of best ways to work this out is typically keep any bet at 5% or less of your bankroll….for example if you are using a £300 betting bank then each bet would be no more than (£15 win or £7.50p each way)…if you start with a bank of £200 then the maximum bet would be £10 or £5 each way etc which is (5%) if using 2.5% each bet would be half of those amounts and so forth.
THE RULE OF 5
By only using 5% of your betting bank as a maximum stake you lower the risk of losing your entire bankroll quickly, for example if you used 50% of your bank and the first 2 bets lost, then your betting bank would be gone.. by only risking 5% as a yardstick maximum, you will be able to manage through any potential ups and down, playing this way is a much safer starting point, and gradually building up your bank and higher stakes over time…remembering however, by limiting your bets to 5% or less of your bank when you do win you will collect smaller returns, I think the best policy starting off is to gain confidence and grow over time…..this is not a race to get rich quick, I am trying to help you make money of a period of time with an low risk high reward plan
BUILDING BRICKS
Long Term thinking is paramount to winning and taking an investment like approach is the professional way to bet, The fact is you will bet winners and losers, and the key is to not get to upset when you lose and not get to carried away when you win, it’s the foundations that I am trying to lay down by guiding you as a member, but as in house or a hotel or indeed a business or a relationship, one of things in common all takes time, so be sure to try and think like that, and take the rome was not built in a day approach, Boredom Betting is a subject I have wrote about when being interviewed, and that is the cause of many people losing heavily, as all the planning and patience and discipline suddenly goes out of the window. winning on horse racing and betting is one of the hardest things to do known to man and very few people make that happen,without using a very disciplined life and approach thats indeed can be classed as boring in exactly the opposite way to the punters who bet because they are bored!
WHY DO PEOPLE BET?
There are many reasons why people bet, and after 50 years in betting and working at the top echelon of the industry, I am probably more qualified than most to talk about this, so I will just let you into my mind, and see if any of these psychological traits hit home to you, some will, some won’t, but I think you will find it interesting to know my thoughts.
Gambling in general has been around for many centuries longer, but horse racing betting has been with us for over 300 years, and known as the sport of kings, because of the huge Royalty and Gentry connection, but as for the working/middle class it was and still is a way of trying to make and win extra bit of cash that the tax man cannot touch, and to have the added excitement and thrill that a win brings, indeed winning is the emotion that drives most punters, even more than the money, it’s the feel of being a winner, to be proved right, in solving the puzzle of each event, betting is a hobby for many and is part of the lifestyle for so many punters, almost like doing a crossword or reading the paper, it something interesting that is daily. In science it’s regarded somewhat as a brain chemistry, and many people bet to help negativity in their lives, and also to help relieve anxiety and worry..the overall factor is that Betting is a leisure pastime and pursuit and if regarded as that, and controlled in a adult manner can bring the gambler massive fun and wins that can help in many ways in their lives
DISCLAIMER
Please remember gambling advice on Petersracingtips.com on horses or sports betting is not regarded as an investment and does carry risks and past performances may not indicative of future results. always bet within your means if you need any help at any time…..there are professional bodies who can assist one of which is
Good Luck and enjoy your membership
Peter