"LADDER STAKING PLAN
112233445566778899 ect.
Continue up the ladder, win, loose or draw, until in profit, then start again."

I bet the people who put these sort of ideas up don't use them. In fact they probably are just trying to boost the pools they sup from by trying to convince everyone else to use these 'progressive' ideas. Especially when these threads are continually being dragged up from years ago [this one 2003] :-)

If we have a run of outs of 17 on the above ladder and say our units are $10 [for the bets to be meaningful], we would be having a $90 bet on our 18th. bet to recover [chasing our losses] $810 plus our $90 bet. We need a $9 winner just to get back to where we started from. For $20 units [more meaningful] we a into serious high risk punting. God help you if you like $100 unit bets.

The problem with these 'mild' progressions is they look safe and sensible, but their down side is the punter is quickly chasing higher and higher odds to break even let alone turn a profit. If our 18th. bet loses we are having a $100 bet to recover $1000 and now need a $10 winner to break even. It all gets out of hand very quickly, especially when you get into the 'etc' area of the above ladder. Even for a run of ten outs you have punted $300 and your next bet of $60 needs a winner paying $3.60 to break even [forget profit].

I used to believe in the 'reasoning' of progressive staking because I'm certainly no maths star [far from it], but after reading articles from real mathematicians I've jumped off the believer's ship.

At this stage proponents are saying a run of 18 outs and probably even 10 outs is impossible. Yep, sure thing :-)

A newbie would certainly believe that a run of 18 outs just couldn't happen.
Thats just doom and gloom statisticians talk :)
I used to keep track of favs while at work and have seen 2 lovely runs of 17 and 23

As I said, just doing some research into progressive staking.

I am a level staking man.... always have been.... probably always will... as my punting profile does not like to "extrapolate" my turnover based on my performance on any given day in order to turn a profit...(i can take the good with the bad).... my stomach just wouldn't be able to take a bet 5/6/7/8 times my "normal" stake on any particular race.....

As I've said I'm a novice when it comes to "staking/progression" plans and appreciate the feed back from you guys........ so I can take it all in and make up my own mind on whether another staking method is appropriate.... I'm still think that a staking plan with a good strike rate (and steely resolve) could improve a punters POT....

It works for darky using the 6 point plan, I'm just fishing for anyone else who has found it works for them.......anyone?

I've tried testing a few progression plans on my past results without much deviation at all.... which leaves me (at this stage) quite comfortable with "my" approach.....

Thanks, but keep the feed back coming.... ;)

Oh I agree Stix, look at everything people like and yes there are people who have been using a progression system and it's [so far] working fine without a big losing run striking them down.

We should also note a bit of history here. During the middle ages a lot of people were never struck down by the plague either. Luck is a double edged sword, I like to take the maths onboard before I play with it.

Crash

I like the 6 P's apporach myself, rather than relying on or benefiting from luck..... Prior Planning Prevents P*ss Poor Performance..... ;)

I will stick my hand up and say that I use a loss chasing system. I back a horse in every race on my card, usually about 30-40 per day average.

It has been argued over and over again that you cannot turn a loss at level stakes into a profit by simply using a progressive staking system. All it does is magnify the loss. But if you are profiting on level stakes, then I cannot see why this same system wouldn't now magnify your wins.

I must stress though that my system is designed personally, and is not trying to make a profit from one race (ie 10 losses in a row, then a winner to put you in front).
Mine relies on the fact that I am winning level stakes anyway, so it is just trying to increase my POT just a fraction.
I must say that doing this I have been going almost 12 months, turned over more than 1 million dollars, and have kept going through some really really bad losing streaks, and I have not looked at a form guide as of yet. In fact I only really ever know which one I backed by the number....

Not trying to suggest that I am guaranteed to keep winning, in fact it is always in the back of my mind that there is always a bigger losing streak on the way and could possibly wipe out everything.
That is why every time I increase my bank and increase my stake, I am always that little bit safer, and am betting a smaller % of the bank.

I am currently going through 1 of my worst periods since I started, so am very stressed about the whole situation, but am confident that I have set it up properly to see the other side.

It is a rollercoaster ride, both financially and emotionally, but as long as you start with a plan and a bank THAT YOU ARE PREPARED TO LOSE then it should all be good.
Expect to lose your bank, it is gambling after all. I do prepare for that every day.
If you make profits, take some money out, put it to something. Don't blow it like you have a never ending supply. Use it....

BJ

Appreciate your view.

When you say 30-40 bets a day - You obviously subscribe to the "there is more than one winner" on any given day philosphy rather than the once you make a profit for the day you stop and start again tomorrow philosphy? Am I right?

Good Luck....

I believe that if I have an advantage, then the more bets I place, the more money I turnover, hence the more money I make.
On the other hand, if I don't have an advantage, then I would prefer to get it over with as quickly as possible so I could move on to my next venture. Which hopefully will never happen.

I also find that my selections win and lose in runs. I seem to have more days where I win a considerable amount or lose a considerable amount as opposed to breaking even. Either a good or bad day...
Therefore by quitting early on a winning day, I would think that I am prematurely cutting my run short.

Probably just a pschological thing. I don't like missing races whilst my bet is above the base. But I also know that regardless of the races I miss out on, they will even out as good days and bad days.
I am not the kind of person that if I happen to miss a race or a day, to check the results to see what might have been. I prefer to think that if I didn't bet on a race, then it never really happened. (Just like after a night out, if I don't remember doing something, then it never really happened.... :) )...

I only bet on races that BF has a market on, and at this stage have limited myself to Australian gallops races... So that is my 30-40 races per day.

Because I use such a non aggressive staking system, it takes a long time to recoup my losses. Therefore I see a day as more a short series of races as opposed to a start and end. It might take my system 3 months to get back to base, therefore I will never stop my day short when I am in front.

That's a quick turn-around BJ. 30-40 bets a day!!
What happened to looking for 'value' bets? You must have great eye-sight to find that much value in 30-40 bets a day. Who's your optometrist? I wouldn't mind that sort of eyesight:-)

I am trying to get value another way.

Doesn't mean that I don't know that value is the way to go for people able to rate a race.
Obviously there are extremes, and if you are on the right end of the extreme with your ability to rate a race then you are laughing all the way to the bank.
I don't have that luxury. I use the average of all ratings, and go from there..