Anyone with a good place staking plan?

[shoto]

Is there a good target or other staking system for place betting? (ie not all-up staking)

There was something around a while ago called Oscar's something - don't know what it was. Can some target approach work effectively with place divies?

[partypooper]

Shoto, my main betting is for the place (always maxi-divi) level stakes.

But I also run (in tandem) a staking plan as follows:
Start with a bank of 10 bets so if the stake is $100, then a bank of $1000 to start.

The stake is 10% of the bank NEVER REDUCING, so for instance, say after a few bets your bank is $1200 then the stake is $120 and stays there until the bank is greater than $1200.

I've doubled my bank several times over, but then got cold feet and withdrew the cash and stated again with 10 bet bank.

Of course you need a selection method or strike rate around the 80% mark and a level stakes profit to start with.

[shoto]

Thanks, PP. Sounds like it would work very well. 10% of the bank never reducing means you're only 10 bets away from bust, but with an 80% SR a run of 10 outs would be unlikely. To warm those cold feet when the bets were bigger, you could run a back-up bank as well, so you had to double both banks before moving up. Would halve your rate of progress of course but would double the safety level.

At the moment I consistently get about a SR just under 70% with av divs about $1.45, which gives me almost a break even situation. The tricky part is getting the %ages up a little further without affecting the divs.

With a SR under 70% and without a level stakes profit I don't think a set level of the bank would be the way to go. An 80% SR is harder than it might sound - that is indeed fine shooting!

[Merriguy]

This is probably what you are referring to, Shoto.

This is an 'up-as-you-win' betting system. With Oscar's Grind, you bet the same amount following a loss and increase your bet by one unit following a win. As the system progresses, the caveat is that you should never bet more than what you need to recoup prior losses plus a one unit profit. This system first appeared in Allan Wilson's classic book "The Casino Gambler's Guide".

[shoto]

Thanks Merriguy. That must be what had been lurking in the memory banks. I imagine up when you win would be safe, but slow. Perhaps that's the 'grind' part.

I have just started going 1 unit by 2 units Saturday was my first go at this it is simple but like any thing depends on quality of selection or racing luck!

[partypooper]

shoto, Sorry but I can not divulge just how to achieve 80% S/R. But I can tell you that I am getting better than that at an average divi of just under $1.50.

But, just let me say that you could start with RATINGS based selections, these could be your own or "professional" ratings.

What I am saying is that you have to be amongst the winners to start with!!!
Lets say that you subscribe to a "well known ratings service" with a Win S/R of better than 30%, and a place S/R of better than 65%, so you know from the outset that the worst you can do is 65%.

OK so now you apply your favourite filters, and through trial and error, you gradually achieve your goal (ie PROFIT)

eg.
50% place S/R
raced within 21 days
win in exposed form (last 4 runs)
no bet 2nd up IF won 1st up.

Raced within 100m of todays distance (last 3 runs) OR be a distance winner

NO BET IF RIDDEN BY A 3kg CLAIMER

NO Bet jumps or races for fillies and mares only or apprentices only.

Must be riding within 3.5 kg's of set weight last run + or -

Must have been within 3.5 lenghts of winner (last run)

the rest is up to you!!

[shoto]

Good stuff, PP. I know you were pointing me in that direction a few weeks ago - it's appreciated.