Staking

LarsT, 5% of your bank maximum i.e. £ 10.

Any time your balance is above 240, withdraw.

Any time your balance is below £ 160, stop and evaluate what you have done wrong.

roger makes good points there especially if you go down to 160 and re evaluate.

I wouldn't withdraw profits over 240 as then your bank will never really grow. Maybe something along the lines of - if you get to 300 withdraw 50% of profits and then keep going until you hit 325 say and withdraw 50% again and so on

Thanks guys!

Do you recommend flat betting?

How about betting to return £20?
So if 1.6 bet £12.50, if 4.0 bet £5.
You'll lose your bank on average after 818 bets of which 348 will be winners.
Of course if you're only slightly better than average you'll increase your bank.
If you get to £400 you can double the stakes.

Yes, I like that idea! Will give it a go!

You'll lose your bank on average after 818 bets of which 348 will be winners.

sorry getting better, how did you come up with these figures? thanks

so you're sorting ya staking out to prolong your bank until you eventually lose it......... hmm

now call me old fashioned, BUT reading above you know nowt about flat racing, have expressed no edge - have no concept of value etc ............ because you need to address these issues BEFORE worrying about staking

imho

^ forget all that read flat racing when its flat betting


wot a numpty you are Delta


:^0

whats worse - havent even had a drink :(

I totally agree with you Delta.


You are a numpty.

bit embarassing that!!

Stick to level stakes, easier to track, easier to manage. Doesn't allow screwing up by being over-optimistic about edge.

It also helps keep your mind aware when you're on tilt because you'll find yourself either finding things to bet on that you normally don't or break rules by increasing your supposedly 'level' stakes, both of which are easy to spot as warning signs so you can get out and stop yourself.

So use level stakes, to help prevent it ever becoming a problem (because gambling is addictive) and to help manage your bank better.

As for how big your level bets should be, first figure out the kind of odds you bet on. (Do you bet typically 1.6 shots, evens, 4-5 shots, 20+?), then assume a very small edge, then calculate how big your bank will need to be so there's a good chance your bank will survive.

For example if you bet all evens shots, you could start with level stakes at 5% of your bank, because with a small edge and betting level stakes it's unlikely you'll lose it all. If you often back 10+ shots, you'll probably want a bank that can support 1000 losing bets. If you back 1.1 shots most the time then you can afford to have a bank that'll cope with only 3-4 losing shots.