Betting bank and why it is essential

Betting bank and why it is essential

If you are looking to get serious about your betting then you need a betting bank - simply put it is money set aside solely for the use of betting.

Why do you need a betting Bank? 

To keep control of your finances - start a betting bank and keep good records, it is very easy to let things get out of control when you are betting and these two simple ideas will mean you will always know your precise financial situation.

Personal finances will never be at risk in this way. If you do lose your bank, stop, look at where things went wrong and build up a betting bank again before resuming betting.

A betting bank and a staking plan will reduce your risk. Instead of betting random amounts where you bet £50 here and then £10 there you stick to your betting strategy so that you have the same level of risk with every bet you place

How to start a betting bank?

Size: No more than you can comfortably afford to lose. Worth repeating: No more than you can comfortably afford to lose.

Staking plan: If your betting bank is £250.00 and you decide to place £2 bets then you

 have a betting bank of 125 points. Tipsters will generally recommend how many points to bet on their selections. So if you got a recommendation “Dead Cert 2:30 Nagsville 2pts” then you would bet £4 on the selection. 

Recommended: 1 point equals no more than 1% of your total betting bank.

Keep accurate records on a spreadsheet or good old fashioned pen and paper.

How to increase your betting bank

Reinvest your winnings and you will see the pot grow

Set a target for your bank and only withdraw after you have reached that target

Reassess your staking plan. If your bank is growing you might want to change from £2 = 1 point to £3 = 1 point depending on the level of success you have had. (Equally, if your bank is shrinking then lower the value of your point to say £1 = 1 point)

Stick to these steps and you are on your way to being a successful bettor. 


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