betting management plan - any ideas please

[nackers]

hi! very new to this site (and the only 'punting' site)...

i'd appreciate any positive thoughts/ideas on a betting management plan...

i only bet (e/w) one meeting a week (usually saturday melb metro) and pick and choose my races - so i end up with minimum of one bet in one race - at most 3 races for the whole meeting.

ideally,,, what i'd like to do is have a 'bank' of say $500 and spread that over 10 weeks to try out my new selection process. of course in this current economic climate that's a considerable amount - so i may just try $50 a meeting for 10 weeks. if i make a profit over that period i will know i'm on the right track.

many thanks, in anticipation.

best.

[rooburger]

welcome
well as you can see there is a lot of info around this site.
try the search option on the page and see what you come up with.
but as a common line is always stated here.
try it on paper first.
around 150 to 200 races will give you a good start.
if you are making money then go for it.
you must be sure of your system.
when losing or winning your mind must be focused .
all the best

[Equine Investor]

Welcome nackers,

Yes, rooburger is right. Before putting money down, I would suggest working out your strike rate and average dividend over a minimum of 20 winners. Also keep records of every bet on an excel spreadsheet or similar as things become clearer on "paper". You can see trends and patterns easily.

If you feel confident and want to bet straight away - then I would suggest 1% of your betting bank on each selection and only increase the bet when your starting bank doubles.

Remember staking plans or doubling up may get you out of trouble short-term, but will inevitably fail if your system doesn't show a profit at level stakes.

Good Luck.

[darkydog2002]

use the power of 10 from malcolm knowles.forget the flat stakes bsa.the betting margins on win betting are just too tight and ishould know as i have been afulltime pro for 26 years.personally i am sick of hearing these crap artists whold be flat out betting 1 dollar e/w.sorry about that.cheers.

[Equine Investor]

darkydog2002,

my advice is intended to help.

Feel free to disagree, but the intention is all good.

[Bhagwan]

Try this staking plan , betting to price .
5% of your bank.

E.G. if your bank is $500 @ 5%=$25
Selection is say $3.00=2/1
Outlay would be 25/2=$13 for the win

We are makimg the assumption that your more succesful selections will be in the shorter price range rather than the longer priced range.

[nackers]

many thanks for your responses...

i'm a firm believer of 1/4 win and 3/4 place betting - especially when betting on the tab - as if my selection only gets a place and shortens in price,,, i still make a small profit or break even at least...

:smile:

[becareful]

nackers,

Do you keep records of all your bets and if so have you analysed the profit/loss on the win and place portion of your bets? If not I would strongly recommend you do so.

In the majority of cases people who bet each way would be far better off sticking to either win only or place only (generally win only) rather than the each way option. If you have a look at the tipping competition website ( http://www.tlcbc.com.au/tipping.htm ) you will see that only 3 tipsters are showing an each way profit but 2 of the 3 would be much better off betting win only than each-way.

I know the argument for trying to cover your costs as long as the horse places but a lot of times you are just multiplying your losses when it doesn't run a place. My guess is you will find your profit to be much higher (or your losses significantly less) betting say 2 units for a win rather than 1 win/3 place

Just something to think about.