Sounds fine to me because of the bet limitation.

Adjusting up & down sounds reasonable also because you are able to bet with confidence within percentage to bank exposure.

When punting its an idea to have some idea as to..
Max No. of bets.
Max no. of losers
Max No. of winners.
Max % of bank.
( personally I have found 5% profit to bank works fairly consistently any more & things change).

Not necessarily all of these, but at least some.
e.g. 8 bets max.

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Cheers.