More on staking
 

While many viewers are serious punters, and successful in their enterprises, many more are in the game as an enjoyable pastime, hoping to make a little, but definitely not getting into trouble because of gambling, as many seem to with pokies.
The forum gives a wealth of information, and in the matter of staking, it seems some experts prefer flat stakes with a low percentage of the bank, and changes probably made at the end of each day.
Criticism of the following would be welcome, but I hope nobody suggests I donate the cash to the barman. Decide on the size of the stake, and then wait till there is a profit of 50 units before doubling stake, or possibly increasing by half. After increasing, continue until there is a further increase, or a loss of 20 units , when you revert to the next lower stake.
Admittedly. backing favourites might take a long time to win 50 units, but at least the increases are coming from profits. Should the success come from horses at higher odds, increases will be more frequent.

Profit is not profit in any type of gambling unless it is spent elsewhere.

My humble suggestion would be to stay on flat stakes and when you reach a designated profit [say 50 units] remove it and keep betting the same flat stake. Too many punters increase their bets after a profit and end up giving it back to the TAB or Bookie!

You are right Crash, re. profit.

I hope I'm not offending anyone here but I know a few people who make a living off the punt, including me, and none of them feel the need to do anything but level betting.

If you have to grasp for straws, something is wrong with your method, (or could be greed?) either way, it's the wrong solution.

Sorry, no offence meant, just an observation, if the shoe doesn't fit etc.
(Jeez one has to put in so many disclaimers these days)

Your right about that mate. Maybe it's the reason why practically nobody posts here anymore except for a few old soldiers. I'll probably be 'moderated' for that comment, but hey, who cares? Blowed if I can work out the economics as to why this site has been turned into an interest that is equivalent to watching paint dry.

I agree with completely with your comment but when us newbies start, our banks can be fairly small. So betting a small % of our bank gives small returns.
So we must double our bank several times before our "designated profit" is a decent size.

I wonder where they went?
A bit of controversy is always fun.
And educational.

I been searching for them, but I think they have joined one of those "You have to pay to be a member" Forum.

very true Mike, so starting with a small bank betting .5% to 1% recalculating daily, weekly whatever cannot get you into to trouble & if your good enough to make a profit (& yes spend it) starting off in such a way lays a sound foundation

Mike, you can start with a bank of $100, bet the minimum TAB amount and if you have a winning selection system-rating call it what you will, you will build up your bank so quick it will frighten you.

On the other hand, if you have a losing selection system-rating, it will provide you with something frightening too.

By winning I mean at least over a couple of weeks!!!
Losing any longer and there is something wrong. I would even say one week is too long if you are betting every day.
Forget all the cr.... "if you show profit over a few months year etc."
That is just that cr...!

Yes there can be some exceptional circumstances lasting a few days,
but racing has not changed in nature all that much during the centuries.
It is still horses carrying weights and a jock, running around in circles.
Sure training methods have changed, riding styles and track layouts have changed but it's the same for all horses so there is no advantage for any.

Keep in mind the killer for all punters, the desire to cash in on a winning streak, or to chase losses.
Just steady as she goes! Combined with a winning selection, you can't go wrong.

Good luck

Some good sentiments there Lomaca.

Throw into the mix the possibility of: alcohol, credit cards, peer groups, wishful thinking and human nature ... "danger, danger Will Robinson"!

In the real world rather than the theoretical, what often happens when a win is made, many punters scold themselves for not having had a much larger amount on the bet and often do just that on their next bet. A good way to lose, not win.

Most punters don't have punting banks except for % of pocket. When I was single I had a punting bank and bet % of bank. I certainly don't have one nowadays and if I did my wife would have it in 2 min.!
I allow myself so much a week for my punting account if the account needs it. I bet level stakes and any money I have over after a winning week, I don't increase my bets, I skim the profit and I've been doing OK with that approach for quite awhile now. Anyway, it keeps me out of trouble.

Staking continued
 

Great to have intelligent replies. Seems strange that no one has mentioned SR (Strike Rate) or POT (Profit on turnover;;for the sake of newcomers I think those are the meanings). I feel that the profit is the main concern, whether from a series of 5 bets or 10