A betting bank
On every betting advert these days there is a warning about only betting what you can afford to lose. The best way of doing this is to set yourself aside a betting bank and making sure you dont exceed it.
There are lots of things to consider when .
Nothing is a sure thing, so never go "all in"
All betting will have wins and losses and it is important both to be able to ride out the bad times, and also to not blow the good times by betting all the profits too quickly. There is no such things as a sure thing in betting, so you should never go all in. If you do then you have no chance to recover. If you lose a few times then there .
Dont chase your losses
Every gambler should always remember the most golden of rules in probability. The result of one bet has no impact on the likely outcome of another. For this reason, staking systems that are based on doubling up, or chasing losses are doomed to failure. IT is possible to have a statistically winning system but to fail because you are using a system of chasing losses. If you only ever bet a % of your betting bank, then a statistically winning system will always make a profit in the long run.
To explain this, consider a classic example of tossing a coin. Suppose I was to offer you odds of 2/1 on the coin being heads. You would (and should) bite my arm off to take that bet. However, suppose I was to say that the only condition was that you had to take the bet 20 times and you had to double your stake every time you lost. Only after a win could you go back to the beginning stake. Would you be so keen now?
Hopefully not, and here's why.
Lets imagine we have a betting bank of £20 and our minimum stake is £1. Remember that if we lose we need to double your stake. First toss we bet £1, if we win, we win £2, if we lose, we lose £1 but have to double next time. To begin with, if we were to get 4 in a row wrong we would be wiped out, The odds of that happening are 1/16. So 1 time in 16, we would lose everything. If however, we were always allowed to bet only £1, we would require to lose 20 times in a row in order to be wiped out. And on average, our profit will be slowly growing. Although we will make a slower profit, we will be less likely to be wiped out.
Streaks are more common than you think
It may seem really unlikley to get a long losing streak but they happen a lot more often than you think. The laws of probability do not lie. If you dont understand them then you should download the probability generator and learn by watching what happens when you experiment.
In fact, any staking system which involves increasing your bets when you lose will fail in the long run. It is a certainty of a way to lose everything.
Bet a percentage of your bank
The best staking system should be in some way tied to the size of your betting bank. The purest way is to bet a percentage of your bank, based on how confident you are of success. As a rule of thumb you should never bet more than 10% of your bank, although there is no hard and fast reason for picking this figure, and depends on the probability of the bets you are betting on.
The Sports Alchemy Percentage of bank Staking Plan (£2.99)
The Sports Alchemy Percentage of bank Staking Plan is a very simple to use tool which calculates the amount you should stake based on a percentage of your staking plan. You set the parameters and the system will make the calculations for you. This is a very powerful staking plan, that allows you to control the confidence of your selection and the amount that you aim to grow your bank per bet.
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The Sports Alchemy Stepped Stakes Staking Plan (£2.99)
The aim of this plan is to grow your bank in stages. Rather than making a straightforward calculation connecting the size of your bank to the size of your stake, the stepped stakes plan suggests making a certain size of bet based on the level that your bank is at. You set the size of the stages and the stakes per stage, and the staking plan will calculate for you the amount you should be staking based on the size of your bank.
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The Sports Alchemy Level Wins Staking Plan (£2.99)
The aim of this staking plan is to allow you to base your stakes based on the amount that you wish to win, rather than the amount you wish to risk. This automatically calculates that bets which have high odds should be to lower stakes than bets that are heavily odds on for instance. In this plan, you can adjust the confidence and the amount that you wish to win.
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The Sports Alchemy Staking Plan Set (£5.99)
The Sports Alchemy Staking Plan set brings together all the staking plans in a single excel file, so that you can try out the different staking plans and choose the most appropriate for you. Each plan is very simple to use and will automatically calculate the amount you should stake based on a percentage of your staking plan. You set the parameters and the system will make the calculations for you.
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We believe these staking plans will help you to get a good control over your betting and to ensure that your betting bank will stay intact throughout your betting.