After yesterday’s debacle, I’m feeling much more relaxed today, and want to talk about staking.
Staking is a large part of why most punters fail to make a profit.
If you don’t have a bankroll of the right size, then you’ll eventually lose it.
That’s not a possibility, or a ‘could’ happen. It’s a 100% guaranteed eventuality. And here’s why…
If you’re placing bets on horses to win, then you’ll always lose more bets than you win.
Heck, most people will lose between 70% and 80% of the bets they place!
That represents a winning strike rate of between 20% and 30%.
Let that sink in for a moment, it’s very important.
Being a successful bettor means coming to terms with the fact that you’ll always lose more bets than you win (unless you’re lay betting).
With that knowledge, we can also assume, correctly, that we’ll have far more downswings than upswings!
It goes without saying that if we’re are losing more bets than we win, then most of our time will be spent in a downswing, with the occasional upswing.
None of this is to bring doom and gloom onto you. It doesn’t mean we can’t make profits. I just want to clarify that while we make profits in the long-term, the majority of our time is spent in a downswing and losing bets.
When we win, we win more than we’ve lost, and it brings us to a new high point in our bankroll. Then we begin the downward spiral again until the next series of wins, which bring us to a new high point, etc…
As you can see, this makes your bankroll extremely important in being able to last the repetitive downswings you’ll be facing.
If you don’t want to do anything difficult, then stick to betting 1% of your bankroll.
It’s simple, effective, and although not the most efficient at maximising your profits, it still does a very good job.
Tomorrow, I’m going to share the basics of a staking strategy that was taught to me by John Jackson, one of the writers in the SmartSigger magazine.
With a little bit of effort, his method will enable you to maximise your profits and minimise the bankroll required to make them.
See you tomorrow,
Michael and the Race Advisor team
P.P.S. When you join, you’ll also get access to all 38 of the back issues. I’m seriously considering removing this availability shortly.