This week I’m going to talk about one of the biggest fails in betting. Staking and money management is quiet simply one of the most important things when it comes to making a profit from racing. People tend to focus all of their energy in finding the winner and can actually be very good at it but at the end of the month they’ve lost their shirt. Could they have made a profit? Could they have at least broken even? Probably if they’ve found a way to find the winners but are failing to stake them properly.
Your average punter will start the month with a few hundred quid to spare and throw £20 at a horse they fancy. It goes onto win and then they’ll have £40 on the next and so on. If there’s a logical approach to finding a winning horse then the same goes to how we bet them as well!
At the end of the day a bookies margin sits anywhere between 8% up to 16% on each book. If we are betting consistently and at the same end of the market we should in a simple world only be losing up to £16 per every £100 bet. I know it doesn’t always work like that BUT here’s another example. If we only ever bet horses that are 4/1 in the market then we will over a long period of time be winning 20% of our bets (4/1 at SP that is) and being very close to break even.
So with the two examples above this means that if we were to alter the size of our stakes then we would be nowhere near to keeping up with the percentages if that makes sense. My point being is that we have a much better chance of at least breaking even or losing less if the approach we are using is consistent and we KEEP our stake sizes the same.
So whatever your betting or whatever tipster your following the answer is quiet simple really – bet no more than 2% to 5% of your betting bank and keep the stake sizes exactly the same and you stand a chance of making a profit.
I’ll be back next week but until then good luck and enjoy the racing.