1MillionChallengeMan

Hello again,

How about that Royal Wedding - a fantastic spectacle wasn't it? I will update the blog with my progress on Monday. Today I just wanted to share my philosophy about betting in proportion to resources. To be honest I think that most people just don't do this. For a start you must have a 'dedicated resource' to manage. When you have this you then need a definite strategic approach to betting, plus willpower to stick to it, and sometimes the patience of a Saint.

I could have started this challenge with a £10,000 bank as it would have shaved the best part of a year off my progress but starting with £1,000 has certainly made it difficult because it is slow to gather momentum in the early months. Nevertheless I have my 'Mathematical Route Map' to follow and so long as I keep faith and the bank keeps growing then success is inevitable!

My maximum bet is 5% of the bank, which is 1/20th in points terms. Some people advise a maximum stake of 8% (a 12 point bank) or even 10% (a 10 point bank) but these are dangerously high levels of staking, as when you factor in a possible losing sequence of six in a row your bank could be quickly decimated. So my 'normal' stakes of 2.5% with a maximum of 5% should be sufficient to see me through any difficult times.

Today I have staked 5% on FRANKEL in the 2,000 Guineas at NEWMARKET (3.10) as he has all the credentials of a solid favourite. Some months ago I signed up to the services of a Tipster and racehorse owner - who shall be nameless - who advised 'maximum stakes' on one of his horses which 'couldn't lose'. On that basis I lumped on a sizeable sum - way beyond the parameters I have shared with you today. Guess what? Yep the horse lost! And then there were all the excuses from the owner of course. So I lost a packet and learned my lesson and that's why it's 5% maximum for me from now on.

In racing there is no such thing as a 'certainty' - just 'good things' which should 'probably' win!

Right, now where's that betting slip?
T.T.F.N.