Staking plans vary in their difficulty; from the exceedingly easy to the very exotic and sophisticated, and staking plan methodology can be modified to any form of betting or speculation, for example, horse racing, stock market investments, casino table games, etc. Remember bookmakers ultimately want a bettor to chase losses with some blind hope, often depending on pure luck, and this is what will happen without the use of a disciplined staking plan. And please remember staking plans can also be risky as they can never turn a simply bad gambler into a professional gambler alone.
Betting exchanges are a captivating new development in risk markets which have turned traditional bookmaking and the gambling industry on its head. Betting exchanges have a vast turnover and many billions of pounds are matched each month on these markets. Whether your betting on the exchanges consists of backing or lay betting there is always a staking plan that can be found that will suit you. Percentage (bank) staking, like level staking, standardizes the amount of the stake, but as a percentage of the size of the current betting bank at the time the bet is placed, rather than as a fixed number of points proportional to the initial bankroll. The first variable which you need to specify is simply your opening betting bank and this is just the sum of money you will put aside for your betting.
Bookmakers are in the business to make money and they too gamble as they adjust there betting odds. Remember bookmakers always have to gamble at every race meeting, but the gambler has the choice to bet or not to bet on any given race. Bookmakers and top level professional gamblers use little known formulas for this form of calculated betting, where pro's make calculated risks over days, weeks or even months and bookmakers make counter bets to limit their exposure from incoming bets.
The simple fact of the matter is that Bookmakers always come out in front, although a minority of smart well-informed gamblers do make a regular profit and luck has nothing to do with it. Unfortunately gamblers many do not and this fact is probably the most significant weapon in the bookmaker’s arsenal.
Staking plans vary in their difficulty; from the exceedingly simple to the fantastically exotic and sophisticated.
Staking a set amount on each selection, depending on their chance in a race is an example of a simple plan. If you currently do not use a staking plan you could be losing money. When talking about staking plans, I am referring to plans that require you to change the size of your bet (up or down) based on the result of your previous bet.
Proper money management may mean different things to different people, but common elements include:
- The application of a bankroll of fixed size set aside for the purposes of betting, which if lost would not be detrimental to everyday living.
- The identification of a suitable staking plan.
- The maximization of returns and the reduction and control of bankruptcy risk to acceptable levels.
And level staking always forms the benchmark staking strategy against which all others should be compared for profitability and risk assessment.
Without a staking plan it is so easy to see one's betting bank go under. We have seen many people go bust (because they thought that they didn't need a staking plan. Remember without the correct staking plan you could be placing the incorrect stake onto the wrong horse and ultimately betting without a staking plan you will always be negating any good horse selection you make.
About the author: Staking plans, betting system and bank management are an essential part of gambling. For more information and software visit www.win2win.co.uk/red_staking/ the Staking Machine.