Every successful punter I know uses a Betting Bank. It is impossible to know if we are really winning or even how much we are winning without it. Punters tend to forget their losses and over play their winnings. A betting bank is a measure of your success (or failure) at betting.
A betting bank is a sum of money we put to one side (money which we can afford to lose) and is used exclusively for our betting. It can be as big or as small as we like.
A betting bank can be used in a number of ways. A popular method is to divide it into points. So a 20 point bank at £5 a point would be a betting bank of £100. Another method is to use a percentage of our betting bank for each bet. So if we had a £100 betting bank and we were using 5% of our betting bank then each bet would simply be the amount in our betting bank times 5%.
Of the two methods I much prefer the first. With this method our stake remains constant and is sometimes known as level stake betting. We can choose to recalculate our stake at whatever point we like. Personally I tend to recalculate my stakes when the betting bank has grown by 25% or more. As an example:
|Betting Bank||Point Value||Bet Number||Win/Lose|
* Recalculate Point Value
The second method involves using a percentage of our betting bank, hence is known as the ‘Percentage’ method.
I am not a big fan of the Percentage method. Although our betting bank will last longer (as after each bet our next stake is recalculated), it takes longer to get our betting bank back into profit. As an example:
|Betting Bank||5% Stake||Bet Number||Win/Lose|
* After two losing bets we then get a 2/1 winner.
In this simplified example, even though we hit a 2/1 winner after two losing bets, our betting bank is still less than we started with.
A betting bank using a fixed number of points (level stakes) is definitely the best way to go.
Unless we have betting systems that can generate profits at level stakes do not even consider using a Staking plan. A Staking plan on a system which makes losses at level stakes will merely compound the losses, making our betting bank dwindle faster.
If you are serious about your betting then you should use a Betting bank, just like the professionals.
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