Start your bets at no more that $1. When your good enough to make a consistent profit increase your bet. It's simple and sage advise that that a non-gambling child who understand that 2+2=4 would agree with.

However, punters are a peculiar fish who have an amazing ability to find ways around believing the above maths apply to THEM [even write essays in forums about the advantages of progressive staking plans to feel more secure in their denial]. They often spend their whole punting lives in a state of perpetual maths denial and make the bookies and TAB shareholders rich, because their in love with long term [creative] financial waste production.

If you fantasize about a loss chasing plan to turn you from a losing punter to a winning punter, get stuck into a progressive staking plan [any one will do, they all lose in the end], and thank you for all your $$$ contributions to the large race pools you are going to contribute too for many, many years, that the 5% of winning punters joyously scoop from!