We all want to protect our bank,so i have an idea about staking your bets to the odds.
Lets say im targeting 6/1 or higher and i want to get my bank back when i strike a winner at 5/1. If a 6/1 winner happens we're in front, if a 5/1 winner comes along we are even, start out again. This is just an idea as it could be used for any priced selection with out the staking running away to much.
example;
-1-1-1-1-1-1.5=6.5 winner at 5/1 *1.5 =7.5 your in front by one

Any ideas

Been there, dun it , don't work, because the dreaded run of outs happens.
Cheers

I like it.
Like all staking plans , they all work if you can pick the right winners in the right order, thats the tricky bit.

You might like to try backing each way, E.G Target $100 O/L Divisor 6= 17wn + 17plc it does mean double the outlay with not so many runs of outs.

I like the idea of reducing your outlay but any staking plan that increases stakes is doomed to failure because the dreaded run of outs will come and of course the next bet after you stop after your last large outlay will nark you and win! It has happened to me and that is why I have rethought the whole staking situation.

Actually any staking plan that requires increasing stakes is really several level staking plans running concurrently. So why not just stick to level staking.

I posted a level staking plan not so long ago called Chasing Losses with Level Stakes and the only response I got was that I might miss some shorter priced winners. So what? My plan suggested increasing the odds you need get to place a bet rather than increasing your stake - a very sound approach I think. Obviously even in this situation you would have to cut your losses on a long run of outs but your last bet would be the same size as your first, only the required odds would be getting longer. My suggestion is to restart when the required odds reach $31.

I think this approach needs some research by those who have the wherewithall. I would like to try it on top win or place %.

John

good 4th,
i have post somewhere on a 9/4 staking plan.
they are good if your strike fairs to, as bahgwan already mentioned.
Have you compiled a plan for 3 selections, or has anyone for that matter? Is it possible?
just interested, i have tried, but decided to stick to one horse now and improve selection method instead of staking plans.
2 horse bet per race is a rare bet,depends though. But a staking plan for 3 horses per race ....has anyone ?

On 2003-10-27 21:47, gunny72 wrote:
I like the idea of reducing your outlay but any staking plan that increases stakes is doomed to failure because the dreaded run of outs will come

Hi Gunny,

I don't believe that any staking plan is automatically *DOOMED* to failure as long as you setup your punting bank correctly. Bhagwan posted in another thread a very sensible rule of thumb that is pretty spot on in my limited experience...

The guide was to setup a bank 3.5 times the theoretical worst run of outs, and there was a table of those as well.

For a staking plan, this would need to be modified by the maximum bet size as well. For instance, if you had a staking plan that called for a maximum bet 5 times that of your initial bet, then I would suggest you'd have to setup a bank 17.5 times the expected worse run of outs.

I posted a level staking plan not so long ago called Chasing Losses with Level Stakes and the only response I got was that I might miss some shorter priced winners....My plan suggested increasing the odds you need get to place a bet rather than increasing your stake - a very sound approach I think.

I'm not setup to test this sort of approach at the moment, but I might be able to set it up at some stage. My initial reaction is that such an approach could very easily prolong your losing streak.

Let's assume for the moment that you start to increase your minimum odds required... If we take as a general rule that the longer odds winners are less likely to come home, then the effect of only betting on longer and longer odds horses is that your selections will become less likely to win.

Another side effect of this is that you will have less and less bets, until you get to the stage where you might be waiting weeks for one of your selections to be at the odds you require.

Cheers,
Chris.

Hi Chis,
The biggest problem with increases in bets is no matter how much research you do you CANNOT factor in the human element, as I said earlier been there dun it, and the human element will always let down.
The other problem I have found is that the starting bet is usually small so you cant get the advantage of the magic days we all have now and again.

Cheers

kenchar,
can you define what you mean by human element in this case ?

Great response as i believe this is so important if one is to continue in this game. I have tried so many different staking ideas and still have yet to find one that will work with out the dreaded run outs, Some days your on top but it just takes one long run out to wipe out the bank, it is so fragil !!!!!
If you new that your selections were to get up at sometime increased stakes would'nt matter but as we all know this dos'nt allways happen so we have to protect the bank.
How do we do this and still make some cash along the way, I try every day......
There's gotta be something out here?????

Hi PUNTZ,
The human element I'm referring to is the one where the bet gets that large,and the sacks that contain the tadpoles that makes babies are not large enough and one loses them.

Cheers :oops: