Staking Plans – A Beginner’s Guide

| October 13, 2010 | Reply

In a nutshell

Your stake is the amount of money you place on a bet. In order to consistently make money from betting, you should always adhere to a staking plan, as selecting a stake on a whim results in inconsistency and decreases your chances of long term success.

Why staking plans are important

By placing random amounts on each bet you place, you are letting luck play too big a part in the process. There is every chance that you could have a 60% or 70% success rate but if you are not betting enough on the winners and betting too much on the losers, you will still emerge with a loss overall.

In addition, a staking plan will help you to cut out all the silly little bets that do nothing but reduce your bankroll.

If, for example, you see a bet that you like the look of but are unconvinced by and you don’t have a plan, you may back it with a few pounds here and there. However, if you have a staking plan that deems that those odds justify a much larger stake, you will be forced to think twice about your actions.

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Examples

There are three main types of staking plan. They are as follows:

Example one:

You back every bet with the same amount of money, whether it’s 1/100 or 100/1.

This works for some people and undoubtedly cuts out the silly bets but it may also prevent you from backing some lucrative long shots.

Example two:

You use a points system and attribute a cash value to each point e.g. 1 point = £20. You then assign a number of points to each bet, depending on the odds. So you could, for example, set two points for a 20/1 shot and five points for an evens shot.

The majority of the time, it’s the shorter price bets that come in, so this system works well as it weighs your stake accordingly.

Example three:

You use a percentage system, where a certain percentage of your bankroll is assigned to each bet, depending on the odds e.g. 1% for a 50/1 shot and 7.5% for an odds on shot.

This means that as your bankroll increases, your stakes will increase. As such, any profits accelerate quickly but so do any losses.

Summary

Most people who make money from betting don’t do it by winning one or two massive bets, they do it by approaching betting in a disciplined and professional manner. Selecting and sticking to a staking plan is the very foundation of that process and can often be the difference between a profit and a loss.

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