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Category Archives: Money

Money Management is a key skill of the serious bettor and a topic that we cover regularly

Million Challenge Update

I’ve had a bad week with my challenge to build my £100 bank by 2.56% per day.

My method has been to lay greyhounds in either the win market or in the forecast market. And I’ve been using the Bagsbeater software to find me dogs that will be behind at the first bend.

As mentioned last week I’ve not been laying bitches or puppies.

At this early stage of the challenge the daily targets are in the £2 to £3 range and a quick half hour at minimum stakes has seen me easily exceed the target every day.

Every day except one that is, on Tuesday I layed three winners, including one at 11.5, ouch.

At one point I was £53.55 down using £2 and £4 stakes, but I rallied and finished the day down £39.63.

Yesterday I only had 20 minutes to spare and had some catching up to do and managed £11.59 profit.

The current situation is that I am £28.93 behind my target and just £3.13 in profit since I started 11 days ago.

If I’m just £28.93 behind my target at the end of the year I’ll be happy :-)

Today’s Selection

15:45 Hamilton Polarisation – win bet 6/4 Totesport

 

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8th Wonder of the World

Albert Einstein once said…

“Compound interest is the eighth wonder of the world. He who understands it, earns it … he who doesn’t … pays it.”

I was looking through some old documents at the weekend and came across a plan to make a million pounds from £100 using compounding.

Basically the plan said that if you start with £100 and increase that by 1% per day, then in two years you will have £900,000 and shortly after you will have a million.

So I thought lets have a go :)

My first step was to check the math and make sure the figures worked out.

What I found was that if you increase by 2.6% per day then the million comes within a year.

So I’m trying to increase £100 to £1,000,000 in a year.

I’m on day 4.Continue Reading

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£36,000 Yankee

I’ve just read an interview with Gary Poole of Bookies Enemy No1 where he tells readers about the system that kick started his pro betting career and how a £36,000 win was the trigger to go full time betting.

Here’s an excerpt from the interview…

It felt like I’d found the Promised Land and that I would never have to work again and I was right! After about a month of watching the pc screen and clicking through each race every day on Oddschecker from about 8.00am till 12.00am backing horses that were turning blue before the prices decreased I had built up enough money to confirm that I had found a “new job” and that Aircraft Fitting was no longer for me. I had made about 4 times more from horse racing than I would from contracting and I carried on doing that for about the next 10 years!

The best example I can give you which is by far my biggest ever win in one bet was one I will never forget.

I used the method highlighted above and permed 4 horses (can’t remember their names) all of which were getting backed and turning blue on Oddschecker and they were 20/1 16/1 14/1 and 8/1 and to my amazement they all won! It paid a whopping £36,000 from William Hill and would have been even more had there not been three big rule 4’s!

The full interview can be read in this months On Course Profits magazine which is free on iPhones, iPads and Android devices.

http://oncourseprofits.com

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Recovery staking a TABOO subject?

Today we have our regular Wednesday wisdom from Malcolm Pett, we also have selections for both the Headgear and Tongue Tie systems. Here’s Malcolm…

Recovery staking for me has always been a taboo subject.

I have tried it in the past and lost a lot of money doing so.

When you mention recovery staking most people think about putting all your losses on the next bet and that’s the one to be AVOIDED at all costs.

Obviously a conversation about any form of staking needs a disclaimer…

Don’t do it unless you are fully aware of the cost!!!

Also there isn’t a staking system ever thought up that will allow you to make money from a system that doesn’t consistently make profit.

But I use one I actually call “Help recovery”.

It doesn’t usually recover all your losses but it seems to help.

I call it “1234..etc” staking and it works simply by…

“Increasing your stake by your ORGINAL stake every time you lose”

There are a few of things to clarify here…

It’s not doubling your stake (although bet 2 makes it look that way).

It won’t work with systems that don’t have a high strike rate.

The further you go into the sequence the less likely you are to recover your losses.

You need a stop loss setting.

Here is how it works.

1 is your original stake.

If you lose you go to 2 which is your original stake multiplied by 2.

If you lose again you go to 3 which is your original stake multiplied by 3.

And so on.

If you lose on 7 then you would have lost 28 points of your bank.

And you will need a 4/1 winner just to break even.

Which will be unlikely when used with a high strike system that this idea works best with.

So why use a staking system that won’t recover your losses?

With high strike systems you tend to get a mixture of very low prices and odds on prices.

You don’t tend to have long losing runs and so when this system does kick in it can often be for only 1 or 2 selections and the odd higher priced winner just seems to help boost up the profits.

I find with some systems this can be an extra 10 or more points a month.

A couple of tests we have been doing over at the Grey Horse Bot website have results sheets showing how this works.

Click here for an example.


Again please be warned that staking isn’t for everyone and you need to be aware of the risks.

I tend to use 7 as my maximum with this system and realise that if I hit that…

…then it is a month’s (or more) profit down the drain.

Also when using staking select a stake lower than you normal would.

1% or less of your bank.

Thanks
Malcolm

http://greyhorsebot.com

System Selections

With both of these systems I’m still paper trading, but I wanted to post the selections so you can follow along with the live test.

Tongue Tie System

14:55 Chepstow – Nervous Nineties – 150/1 Coral

First Time Headgear

14:35:00 Down Royal – Reality Dose – 16/1 Bet Victor

Today’s Selection

14:20:00 Chepstow Champagne Express – win bet – 3/1 Bet 365

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