Betting Bank

[Benny]

For the last 3 weeks I have been using a weekly betting budget which is $1000 * 8% = $80.

I bet 2 days a week for Horses Wed/Sat and 3 days a week for Greyhounds Thurs/Fri/Sat.

For Horses there is between 5 and 6 races and for Greyhounds there is between 10 and 12 races.

How should I divide up my weekly betting budget.

[darkydog2002]

I take it that the $80 is split up between all your bets for those days that you bet.

It is in my opinion far too much for the size of the bank.
i.e 12 days of no wins and your bank has gone.

Dont underestimate the length of losing runs.I,ve had them up to 16.

But as long as their only fun bets have fun with it.

Cheers

[evajb001]

DD, it would actually be 12.5 weeks of no wins to blow up that bank, or 225 straight races without winners (horses and dogs).

Benny, probably not the answer your looking for but just go flat stakes to begin with, if you can't break even or make a profit with flat stakes then its unlikely any staking plan or special money management techniques will help.

Is the horses/greyhound races you say you bet is that per day or per week?

i.e. horses 5-6 races per week or 10-12 races per week (5*2 - 6*2)

I'd just take the total races you expect to bet on per week (dogs and horses) and divide 80 by that number, bet that stake per race until you've got maybe 1 cycle of bets under your belt (i.e. 12.5 weeks) and if your above $1,000 use the betting history (POT, SR, Max Drawdown) to look at various staking plans/ideas.

^ I know thats probably not the simple or easy answer you wanted, but thats how i'd approach it if you have the patience.

[Benny]

thanks for the advice