A betting bank is a set amount of cash you set aside to use for a unique system, or method, and is an amount you are prepared to lose. So if you begin with �100, and your betting bank reaches �10,000, and you then lose it all, you have only lost �100. It is difficult to acknowledge this at first, but it is factual. It would also confirm that whatever you were doing to begin with was correct, and you need to do some work to ensure the failure doesn't take place again, and a catastrophe like that would be due to bad bank and staking management.
How large must your betting bank be? Whatever you can afford to lose. Also, think of it being a bank account, there is nothing to obstruct you making deposits into it, this can speed up profitability in the long term.
Although the way the betting bank works will depend on the staking plan, it's basically worth keeping to the uncomplicated rule that as soon as the bank trebles, the stake doubles. This means that the additional cash you make, the better the safety net.
If you utilize more than 1 system/method, ensure you have different betting banks, or you will likely fail, as you will have no concept of the profits of each one.
You need to remember that when a failure does occur, in the majority of cases it is not the system/method that has failed, it is the betting bank size, or stake that causes it, and those two things are set by yourself. Many folk consider a failure is not their fault, and choose to blame something else, but no one else determined the opening bank/stake.
I've known a lot of folk see a betting bank go into negative equity, and they give up on it. As mentioned above, this can happen in the first year, and does not mean a failure. They are just impatient, and crave instant profit, which doesn't exist in this business. If it was that simple professional gamblers and bookies would just need to be in business for a couple of months then we could all clear off to the Bahamas!
+Staking Plans+
This topic can be argued among most punters till the Martians land, but apart from selecting winners, it is 50% of the dilemma for making a profit.
There are a lot of staking plans on hand, with several mentioned on my racing free site.
Different staking plans, suit various systems/methods, so if one doesn't work, try an alternative. It is feasible to have ten systems, all with assorted staking plans to make the best of them.
Mostly though it comes down to preference, and I'd suggest level staking for a newbie. Once you're used to handling the betting bank, listing all bets, etc, and have made a few quid, you can then try using a staking plan.
One detail gamblers never seem to realise is that the BB (base bet) on a BB+SR plan may be 50, and if they switch to a stepping plan, to use that BB is suicide, as it is more likely to require a BB of 50p-1, even this tiny amount can result in a bet of �200+ at some point in a losing run, which means a bank of 500 would be in danger.
This is where mathematics comes into betting. If you would like to use something other than level stakes, you need to work out the above before you've even put money on. I have published the optimum plans for the members systems on the forum to save you the effort, but it will help you in the future to work it out yourself, as I won't be about forever.
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