I detracted from our overall mission of this year last week as I explained how Pricewise was told by the bookies in which races he was to tip in. If you missed that you can read it here.
So what was our overall mission this year? Well unless you’ve been living under a stone then you’ll know it has been my mission to help you, the reader become more profitable at your betting and hopefully make a good income from it. The first two months of the year we focused on building our portfolios and managing them and now we’re into the second phase and that is about building our banks.
Talking of which if you’re still under that rock you won’t know that it’s Cheltenham next week and the excitement at VATR towers is brewing as I prepare for one of the best weeks of the year in racing terms. So that’s the exciting bit now to the more serious but much needed betting bank bit!
We all need a betting bank and this should be kept aside from all the usual house-hold bills and other finances. Same goes when we bet at festivals. The pure volatility if festival betting means we need to keep that separate from our normal betting banks. I always put aside a set amount that I then use for my festival punting. I still take it very seriously and of course I aim to make a profit but all my bets are placed separately.
So how do we go about this. I don’t advise betting in every single race as that’s a total of 27 races to attempt and you’ll ultimately do your dough! I break each day down and look at the races I’m interested in. For example I only focus on races that have lots of stand out trends for me to analyse. For me that’s 16 races. To put it simply let’s imagine I have £1000 for the whole of the festival then that is £1000 / 16 to give me £62.50 per race. Some race will have two sometimes three selections and therefore I will dutch those but still never bet anymore than my £62.50.
So to re-iterate as we draw closer to the festival, put aside your betting bank and divide this by how ever many bets that you intend to have. That way you will have enough money to cover you to the very end and as it’s separate, if you lose it all (you would of course be gutted) you won’t have effected any of your other betting.
That’s it from me this week, I will be back next Tuesday with a look at the festival itself, what I’m up to as I’ll be attending and possibly a few insights into what I’ll be betting on and why.
After all that excitement it’ll be the following a week a look ahead to the National and then the flat season will be upon us. Of course there will be plenty of other helpful insights into betting banks and how we can protect them, increase them and use them to make some money.
Good luck with your punting this week and I’ll be back next week…..