what would happen to the bet amount if the last bet lost...would you continue on with that bet amount or what?

I too am a Placebeter.
My strike rate is currently at 81%, my Average Return is $1.40
My Staking Plan is simple. I bet 10% of my Bank and review it at the start of every month.
I have been using this system for about 4 months now, I started with $100 placing $10 bets and currently have alomost $500 an I'm placing $40 bets.

As long as you are DISCIPLINED, you can make it work.
Its a long slow road, but it speeds up quicker than yoou think.

Dude

Lets say you had 3 horses you wanted to bet on, but were at different venues. You can't place an all-up bet automatically - do you place one manually by taking the winnings and placing on the next horse?

Why don't they allow all-up bets across different states?

Roadrunner - yes you would have to place the allup bets manually if they are not at the same meeting. The reason TAB's don't to all-up across different meetings is that they can't guarantee that the results for the first race will be available before 2nd race jumps (because of delays or protests etc).

Yea, good question Roadrunner.
And why cant you place them online in Vic anyway ?
I thought I was going mad when I once tried to put on a Quadie through my NSW TAB account. Why dont they offer them ?

Dude

Goldcoaster,

In my staking a loss wipes out all four series, as it appears to in Testarossa's (jump in at any time Testarossa).

It's just that the multiplier effect of reinvesting winnings well and truly compensates for the times you miss (remember these guys have 80%+ strike rates).

Okay so....
A - Win, B - Win, C - Win , D - Win, E - Lose, F - Win, G - Win

Bets on: A, B, C, D, F, G at level stakes, A*B, B*C, C*D, F*G 2 race parlays, A*B*C, B*C*D 3 race parlays all win.

E, D*E, E*F, C*D*E, D*E*F, E*F*G all lose (each bet started a new series).

So you've bet 18 units (notice that's 3 units per race plus winnings where applicable) with 12 of them collecting. On a six out of seven strike rate (86%) you are almost certainly in front (I gave up guaranteeing anything years ago) but on 5 out of seven your average dividend is going to need to be better I suspect (without doing the maths).

It's up to you now to learn how to use Excel or some other spreadsheet, fire in your historical data and see what suits your strike rate.

Placegetter

PS. Don't forget principles of protecting your capital can still apply too. Just because we are gambling/wagering/betting (as opposed to investing) doesn't mean we can't be smart and grow rich slowly.

I think his question was meant to mean if you a lose a bet, is your next bet the same size? ie $50 if your last one was? or a certain % of your bank?

Thanks chief! It took me half an hour to type and you rendered it useless in two sentences! :evil:

BTW, percentage of bank is the answer to your question in my plan.

Placegetter

I'm new to this but I gather we have a plan of simultaneous parlays and the bet size is percentage of bank each time. So its a type of win-building system. I'Ii trial it myself on paper. The prospect of $800 into $13,000 is irresistible.

But I can't claim a 80+% strike rate. It all hangs on that strike rate, doesn't it? Any advice on selection factors for placegetters? Is it just a matter of selecting as per winners but backing them to place?

I think you should probably be able to tell us a few things. If you are brand new to this and have a Loss On Tunronover of only 12% then you are a gun. What have you learnt so far? Go back over your records, they'll tell you a few stories. Keep refining, keep chiselling, the pot of gold will be yours.