Understanding the Benefits of a Betting Bank

If you are an enthusiastic gambler and enjoy horse betting, you should probably think about setting up a betting bank. This is a ‘pot’ of cash that is intended for use as betting money. The amount of cash it contains is up to you, but it is important to keep a note of how much moves in and out of the pot. The value of the pot will represent how successful your bets have been.

You are advised to set up a dedicated bank account for your betting pot. This keeps everything organised and makes it easy to monitor income and expenditure. If all of the gambling that you do is confined to one bank account, there should be no confusion over whether or not you are making a profit. You will be able to tell by checking your financial statements.

It is essential that you keep a close eye on transactions, because a prolonged losing streak could end up consuming all of your funds. If you spot the problem early, you can switch up your technique and try something new, so that you don’t risk losing everything.

The following problems represent some of the most common reasons why betting banks fail.

– Your bets were too big for the size and scale of your bank.

– Your bank was not strong enough to tolerate prolonged losing streaks (possibly, because you backed too many big prices).

– Your horse betting and other gambling strategies are just not skilled enough. This is a very common issue and it is a tricky one to solve. It takes time to learn how to gamble like a pro. If you are just starting out, you may need to be patient and put in plenty of practice. This is why inexperienced gamblers shouldn’t dive in too fast and place too much money on their bets, too soon.

How to Utilise a Bank System

You can solve all of the issues outlined above by simply being careful with your bets. Think about what you want to achieve. There are some people who don’t want to take the process so seriously. They’re looking to have fun, spend some cash, and try their luck. And this is fine, as long as they can refill the bank again. If you are looking to make long term gains, however, you need to be a little smarter.

Stage One – Bank Value

Work out how big you can afford to make your betting bank. It doesn’t really matter how large your maximum limit is, as long as you keep the end goal in mind. You are supposed to be expanding the pot. You can always change the size of the pot at a later date, but to begin with, just pick a number that you can afford to lose.

Stage Two – Review the Risk

The size of your bets should reflect a fairly modest proportion of your betting bank. You don’t want to place the entire bank on one big bet, because you could lose it all. The same rules apply to losing two consecutive bets; it could cripple your betting bank and your finances. This is why you need to determine how long the worst kind of losing streak could last.

Imagine a person who backs multiple favourites at even money. To begin with, it is important to acknowledge that bookies feel confident about these choices. They believe that they have a good shot at winning. At even money, it is reasonable to assume that here is around a 50% likelihood of a win.

While these might seem like great odds and entice you into handing over 25% of your betting bank, think carefully about this arrangement. With a 50/50 result, you should expect to lose four consecutive times, at just over 6% of the time. In other words, if you gamble a lot, it is bound to happen. And, when it does, you’ll lose your 25% share.

Stage Three – Converting Pounds to Points

As already discussed, the size of your bank isn’t of too much significance. This is because we transform your pounds into points. As so many different aspects of gambling are reflected in point form, it is useful to think of a betting bank as being worth 100 points. If this were the case, 1% would be equivalent to one point.

If your bank were worth £10, every pound would represent ten points. Or, to put it another way, every point would represent ten pence. If you need some more help, use the table below for simple, quick fire calculations.

Stage Four – Selecting the Right Bet

Once your betting bank is ready to go and your money has been changed into points, you need to identify an appealing and valuable bet. Then, stump up the cash. If you are still fairly new to betting, you might want to experiment with basic level stakes betting techniques to begin with. They don’t carry too much risk.

Determine how large a proportion of your betting bank you are can afford to put up. This is how you find out how much each of the stakes will be. For casual gamblers, a reasonable figure is around 2% of the bank. This figure allows for a decent amount of protection from losing streaks, but it will cause the bank to grow at a sluggish rate.

For more experienced gamblers, a 5% stage is suitable. This enables the betting bank to expand quickly, but it also means that the risk of being cleared out by a losing streak is increased.

If you are interested in finding out more about how to bet successfully, or you are looking for high quality horse racing tips, visit Betting for Winners today. We can give you smart information, advice, hints, and tips on where to start, how to bet, and what techniques to use for guaranteed success.

Online Sports Betting – Everything You Need to Know

Online Sports Betting has been gaining popularity these last few years. The advancements in technology and the internet have contributed greatly in the development and improvement of sports betting. From the classic on the spot betting and televised betting, people of the right ages will also be able to enjoy sports betting through the internet. It is as simple as having your own computer or renting one, just make it a point to be sure that the computer has internet connection and in seconds you are on your way into enjoying the sports that you wish to place your bets on.

Sports betting online can feature different kinds and varieties of sports. From the famous horse racing, to tennis matches, football matches, baseball matches, motor racing, basketball and even cricket matches, you name it these online sports betting websites are sure to have it. Thousands of people in the United States as well as in Europe and some parts of Asia have already begun to get hooked with this kind of sports betting. Day by day there are hundreds of sports enthusiasts willing to test their luck while betting on their favorite sport through these numerous Online Sports Betting websites available as of today.

Truly this kind of sports betting can be a lot of fun. You can surely enjoy betting via these online betting websites by trying your luck but there are several things to consider before getting addicted into this kind of betting. First, make it a point to keep in mind that you cannot bet what you cannot afford. In fact, do not bet even a dollar if you do not have it. The one and only period that can be said to be safe in betting money in this kind of sports betting is when you can afford to lose it. Otherwise, you will be sacrificing money intended for other useful purposes such as food and clothing. Sports betting are full of fun and enjoyment, but getting addicted to it is gambling addiction that is a very serious problem that needs to be addressed as soon as possible.

Second, remember that you will be losing in this kind of betting. Since betting is a form of gambling, you should keep in mind that there are winners and there are losers. The ratio of winners against losers is about 1:10, so expect that you will be losing a lot, especially during your first try. If you win in your first try then you are extremely lucky as the other persons that betted with you lost there money. Try to learn through the first couple of losses that you experience as having experience will be a lot of help to you in knowing how to play against the odds.

Third, make sure that you know the sport that you are betting on. A basic knowledge will suffice, but a thorough knowledge will be a big help to you in making the right bets. You should know the basics as well as the advanced rules regarding your favorite sport that you wish to bet upon in order for you to assess on who or what to bet against other betting fanatics. By having this basic knowledge you will be on your way into making good and fruitful bets in no time at all.