Using a Betting Bank – Part Two
Step 3 – Pounds to Points
We mentioned earlier that the size of your bank is not important. The reason for this is we convert your pounds into points. You’ll find many things are based on percentages in gambling so it can be handy to represent your bank as 100 points, then 1% equals 1 point. If you are using a £10 bank each pound is worth 10 points, or looking at it the other way, each point is worth 10p.
Step 4 – Placing a Bet
Once you have created your betting bank, converted your pounds to points & highlighted a selection that represents a good bet, now you have to get your cash on. In the early days we recommend you stick with a straight forward level stakes betting strategy. This is straight forward and does not add excessive risk. Considering the discussion on risk previously, determine how much of your bank you are prepared to stake, this will lead us to how much each of your stakes will be until we re-assess.
A conservative gambler would perhaps place bets that represent 2% of their bank, this gives good protection from losing runs, although the bank will increase only slowly. A more aggressive gambler may stake 5%, this will allow the bank roll to grow more quickly, but the chance of being wiped out by a losing run is higher.
Let’s assume you are a conservative gambler, with 100 points in your bank you should stake 2 points on all selections, remember that to begin with we suggest using a level stakes strategy. If you placed £10 in your bank you’ll be staking 20p per selection, with a £100 bank you’ll be staking £2 per selection. Note that you won’t recalculate after every bet using this strategy, if you lose, you will still stake 2 points on the next bet. If you win you will still stake 2 points on the next bet. However, you may choose to recalculate say once a month.