Profit

[Benny]

This sat I'm going to try something new and different (for me anyway). I'm going to set my profit level for the day and once I reach it I'll stop betting.

There will be at least 40 to 60 bets in five states covering 20 to 30 races. Now, my profit goal is going to be set at $300, so how do i work out my bets and what to place on them to achive my goal.

I'm going to be betting T/Fluc at sportingbet.

[Mr. Logic]

I suggest the first thing you need to do is know what minimum odds you need for each potential bet. It's no good taking $3.00 about a horse if you need $5.00. That's a guaranteed way to lose over time, no matter how you stake.

[partypooper]

Mr Logic, whilst I agree "Value" is the way to go, the thing that puzzles me is: ask 5 different EXPERTS to convert their ratings to prices and you end up with several different opinions???? i.e. one will have No1 rated at 2-1, whilst another will have it at 4-1, all using the same criteria to arrive at their conclusions, so if you take 3-1 have you got good value or bad? I'm not starting a fight here just curious enough to raise the point.

[crash]

There will be at least 40 to 60 bets in five states covering 20 to 30 races. Now, my profit goal is going to be set at $300, so how do i work out my bets and what to place on them to achive my goal.

I'm going to be betting T/Fluc at sportingbet.


It would help to know your bank and staking plan for the day, otherwise it's a meaningless proposition. Are you trying to turn $50 into $300 , $100 into $300, $200 into $300, $250 into $300?

[Bhagwan]

If the $300 target reprsents 5% of total bank which in this case would have to be a $6000 bank , then it is possible to make the $300 target amount.

One will find that achieving the first 5% target of any bank is a lot less difficult than it is to target say 7-10% of bank .

The other thing is that one must stop once the 5% is struck otherwise one faces the very big risk of giving it all back.

This is a patience & discipline thing, which very few punters have.

Cheers

[crash]

This is a patience & discipline thing, which very few punters have.

Cheers

Getting a $6,000 bank together is probably the biggest "patience & discipline thing" for most punters!

[Michal]

Hi,


The question is that if you are prepared to stop at 5% when winning are you prepared to stop at 5% when loosing?
The answer is most probably no and also depends on number of bets as to the 'demage' that you could do in one bad day.

This will only work if you can gurantee that you win every day.

I tried something similar and worked a treat for many many days and then I hit 3 horror days and wiped out.

Remember that at 5% you have 20 of these I went back 25 ......... and then returned back to sweet normal ................ BUT I HAD NO MORE MONEY :)

Michal

[Bhagwan]

Betting a flat 1/20th of bank is very dangerious .
1/60th flat with a 22% SR would be a stronger idea because one will hit 20 outs in a row, no matter how good the selection plan is.
Its just one of those things in punting that one has to take on board if one is going to punt sereiously.

Back to our friend & the $300 a day.
I would surgest taking 1/10th of bank for the day say $600 of a $6000 bank.

If you blow the $600
Grab another $600 the next punting day.

Bet 5% of this up & down .
1st bet would be $30
Try betting this EW if prices look OK, it is a lot safer this way.
$30 w & $30 plc = 10% of bank
Otherwise $30 win only.

Another way is to bet 2 horses a race , placing a 1/5th of total O/L insurance bet on the other horse & the remainder on your main selection, this helps protect the bank & should not affect the POT very much because of the damage contained by the saver bets if they get up.
Of course if neither get up you would have lost the same amount whether one horse one or two horses were bet , the loss is the same.

If this loses, next bet is 5% of remaining bank.
e.g. Remaining bank $570 next bet $28

If one hits a winner , add profit to the days punting bank e.g. Bank now $660
Next bet 5% of increased bank = $33

. Try & target horses in the $3.50-4.00 range or higher.
. In fields of 11 runners & less.
. Try to bet with a book maker or Betfair ,
you will find that you will usually get 1-2pts better which adds up to an increadable amount . Its the difference of breaking even with the TAB & making 10% POT with the other online services.

If one has a good day, place all the money into the main bank then take out 10% of the increased bank on the next punting day.

If its a bad day one will have not blown the lot because of the reducing of bets after a loser, so place the remainder back into the main bank then take out a flat $600 next punting day.
We never take out anything less than $600 out of the main bank.
We take out more than $600 only if our bank has increased.

Stop betting for the day once $300 in front.


Cheers.