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Staking Correctly When Betting
Incorrect staking is a common mistake
If you have used any betting system, be it for horses, greyhounds or sports, it is important to use it correctly and have the right attitude. If you’re going for horses that pay around 10/1 you have to realize you need a win out of 11 just to break even, if you can beat that win ratio then you’re in the money , but many bettors will use a system and then after a single loss will announce “The system does not work”.
The real reason the system didn’t work for them is that they never gave it a chance to work. Some bettors will follow a system for a little while then give up after a losing streak to miss out on winners who recouped their losses; you need to have a big enough bank to back you up on a bad run.
Winners will not come in an orderly fashion; they will come in droves, and the losers too. If you have a winning percentage of 25%, you will not get 1 winner for 4 bets. It is quite possible to get 9 losers in a row and then 3 winners in a row. You may have hit a bad streak, but still hit your 25% win ratio in that particular streak of 12 bets.
For most bettors, lack of money is not the problem. It’s their lack of confidence in the system during a bad pass. As a system bettor, you have to be mentally strong to withstand this.
Another cause of betting system failure is incorrect betting.
I know a few punters who started with sports betting during the cricket world cup; they bet on New Zealand, and everything was fine when they won, but then they lost three games in a row, which wiped out their profits plus their original stake.
Their problem was incorrect staking; they bet too much compared to what they have in their betting account.
In other words; they put too many eggs in one basket.
You have to do the math; if you decide to bet on teams paying a minimum of $1.50 (1/2), that means you’ll need a 66% win rate just to break even.
As you take on more risky types of bets, you need a higher bank roll to tide you over during longer losing streaks that will occur when betting on trebles, jackpots, etc
There are all types of betting systems, but the most dangerous is to increase the size of your bets with each loss. It’s all too easy to step out of your depth with this type of stay and lose more than you can afford.
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