by Dave French

December 20, 2011

Betting BankToday Kieran Ward shares some good advice…

A Key Weapon in the Punters Armoury

Don’t let anybody tell you it is impossible to gain a betting edge in this day and age.

With the internet as our friend, we have a vast array of data instantly available.

You only need cast your eye down the tipster tables at the various monitoring sites to see that there are lots of people finding and exploiting bookmaker mistakes day in and day out.

There are a myriad ways (and a myriad of sports) in which it is possible to make money by finding and exploiting a betting edge over the bookmakers

In fact, finding an edge is perhaps the easiest part of the puzzle! In horse racing alone it is possible through employing any of the following methods:

Market analysis

Trends

Jockey/Trainer Stats

Form Study

Tipsters

Stable Information

And many, many more.

So, if it is relatively easy to find an edge, why isn’t everbody making a living from their betting?

Where most punters fail is in their money management. I have seen people (friends even) take the selections of very profitable tipsters and fail to make profits with them simply through poor money management.

And that brings me on to one of the most important tool in a punters armoury – the betting bank.

Without a properly funded and managed betting bank, you can have a massive edge over the bookmaker and still fail to make money.

Believe me, it’s no fun sitting on the sidelines watching for a few months rebuilding a bank while selections you would have bet romp home left, right and centre.

It is the ability to master this aspect of the game that can make the difference between success and failure.

Below, I have identified a couple of key rules for betting bank management:

1)    Keep your betting bank entirely separate from your own funds.

Place it into an entirely separate bank account which you use solely for betting purposes – do not repeat one of my early mistakes.

When I first started getting serious about my betting, I kept a dedicated betting bank but stupidly kept the funds in my personal bank account. It got very messy and had an adverse effect on my betting psychology.

When you encounter a long losing run it really is best not to see this impacting upon the funds in your everyday account.

It becomes very much more stressful than it would be if you were losing the money from an account solely dedicated to your betting activities.

Furthermore, when you have had a good win, there is a temptation to up your general spending as you are feeling flush.

2)    Make sure you have enough points in the bank.

The number of betting points you need in your bank will be dictated by the betting systems and methods you are using.

If you are using a method which has a long term win strike rate of 40% you will need to break your bank down into far fewer points than if you were using a method with a 15% win strike rate.

Always be cautious when deciding this and split your bank into considerably more points than you ever feel you will need. The example below should help you when making this crucial decision:

You are following a selection process which has shown itself to have a long term win strike rate of 30%.

Your bank should be broken down into a sufficient number of points to weather your longest statistically likely losing run.

There is a formula for calculating the longest losing run you are likely to encounter but for ease I will I will put the results in a table:

Percentage Win Strike Rate Maximum Losing Run Likely over 1000 bets
10.00% 66
20.00% 31
30.00% 19
40.00% 14
50.00% 10
60.00% 8
70.00% 6
80.00% 4

From these figures you should be able to get a good idea of the size of bank required. With a 30% win strike rate statistically you are likely at some point to encounter a losing run of 19 bets.

Now say you were to allocate a 20 point bank for use with this particular selection method – you can see that you could rapidly get into huge trouble with such a small bank if you were to have your 19 bet losing run.

This is where caution must be exercised. I would suggest a betting bank of at least 100 points for a method showing a strike rate of 30%. A safe rule of thumb to apply – your betting bank points should be 5 x your maximum expected losing run.

Have a look at the expanded table below:

Percentage Win Strike Rate Maximum Losing Run Likely over 1000 bets Number of Points Bank
10.00% 66 350
20.00% 31 160
30.00% 19 100
40.00% 14 80
50.00% 10 50
60.00% 8 40
70.00% 6 30
80.00% 4 20

These rules may seem over cautious but better that than face the demoralising possibility of blowing your entire bank and spending months rebuilding.

Kieran Ward has been a gambler for nearly 30 years and full time professional for the last 9. He posts
his thoughts on horse racing and betting in general over at:

www.makeyourbettingpay.co.uk 

Todays Selection

Taunton 1.30 Falcon Island – Win Bet

Disclaimer: All views and opinions expressed in this article are those of the author and do not necessarily reflect the official policy or position of TGH Trading Ltd or it's employees.

About the author 

Dave French

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  1. This is just what i needed to read. I can pick winning bets and make a few quid here and there but always wondered why i didn’t do better. And this is the answer. I had random amounts coming in and out to bookies along with bills and purchases so it was up and down constantly and i had no control in the exact same ways as in the article.

    This is far more valuable than any system or strategy i bought in the past. It’s a relief to know there was nothing wrong with my selections and can’t wait to get started with a betting bank!

    Many thanks!

    1. Hi Kenny

      A revelation just in time for a New Years resolution.

      I think we all learn the hard way that money management and mindset are the key factors in betting success.

      Good luck
      Dave

  2. Exactly Dave,

    Since i wrote that i’ve thought of nothing else, and i’ve got it all planned out.

    I’ll have 100 points in the bank to begin. I’ll wait as long as it takes to double that. Then i’ll go back to having 100 points but my points will double in value. And so on and on and on, hopefully!

    I think this will make me try harder as well as it’s really serious now, no messing. That stray punt might not happen now.

    Here’s hoping for good times 🙂

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