I spoke last week about building houses and effectively our banks. If you missed it then you can read it here. It was generally about how we shouldn’t build or bet when we haven’t got the right materials/resources. This week resonates the same meaning and I’m going to harp on about betting banks. Betting banks are one of the fundamentally most important things we have against the bookie. We can bet favourites all day and everyday but the bookie makes even more in profit because of the way the general punter stakes his bets!
Staking is paramount if we want to make our betting more profitable. One of the common traits of a lot of punters is too alter their stakes depending on how they are doing. You know the score, you’ve hit a few winners, you’re on a high so you up your stakes. We need to stop this straight away and always bet to level stakes no matter what.
There is a way of accurately making sure that you have the correct bank size. If you know your strike rate of either a tipster or your own selection process you can work this out. It’s a complicated process but I have a table for you to look at below:
Strike Rate Expected Losing Runs
So you can see from the above figures that if for example you had a 50% strike rate you would could in fact expect up to 10 losers in a row. So by looking at this table we need to find our strike rate and then look at the expected losing runs. We then multiply this by 3. So with even money for example you would multiply 10 by 3 to get 30. You then simply divide this number into 100 to give you a percentage. In this case it would 3.33% or I would just round this down or up to the nearest decimal.
Let’s do another one. A 25% strike rate would mean you would need a 1.38% stake of your bank. Or I would round this up to 1.5% Have a look at your records and work out your strike rate and then you can see if you are staking safely. The idea of the above is that should you hit the expected losing runs straight away then you still two thirds of your bank left.
I’ll be back next week with more betting advice and insights. Any questions please let me know 🙂