I mentioned in our WhatsApp group I wanted to have a chat about staking etc so here we go.
I’ll quickly give you my story – I’ve flirted with rugby betting over the last few years but without really doing it properly, but like most of us, I reckon I have got a good feel for the game and how it works. I deposited £1K into my Skrill account on the 1st January and decided to have a really good go at betting properly for the second half of last season with the idea that if it worked I would continue doing it properly and if I lost the money I wasn’t good enough to make it pay long term and I was better off knowing it so I could leave it all alone.
Anyway, fast-forward to now, I have withdrawn the original £1K (plus a few hundred quid extra) and have got a nice round sum of £4k of the bookies money in my Skrill account ready to start this season with.
Obviously I am delighted with how the last 7 months have gone, BUT I am conscious that I probably overstaked on occasion and want to get some thoughts and reflections from how you all manage your money.
I basically kept it reasonably simple last time around – 5% of the bank as the basic stake for each bet (£50) and gradually increased as time went on, staying as close to 5% as possible. I am going to keep proper records this season as well, as I don’t have accurate ones for the last 7 months, but I mainly bet in doubles/trebles. I did start off just doing singles but found I often hit 4/5/6 winners in a row and the extra profit that doubles/trebles etc bring when I hit runs like that is in my mind worth the added risk. I will do some analysis in January to see how my actual profit compares to what it would have been had I just done each bet in a win single.
My plan for this season is to reduce the staking % by half, down to 2.5% of the bank (£100 bets) to help protect the bank long-term, and to be fair I think psychologically a bet of that size produces a minimum£70 profit from a single, which makes me more likely to choose singles if I can’t find a double/treble rather than searching for a bet I don’t fancy hugely just to make the return bigger.
I’m under no illusions that things will be trickier, and I unlikely to increase my bank by 5x again, but even if I doubled it over the season that puts me in a great position moving forwards.
Getting big bets on is much harder now. I used to do what I call manual doubles/trebles i.e. roll bets onto one another e.g. £50 to £90, £90 to £162, £162 to £291 etc BUT I struggle to get bets of more than £100 on in the same place now. I have lost my Bet365 acct, I’m limited to £100 at Betfair, about £40 Coral and Will Hill and about £70 at Ladbrokes. My Paddy Power acct is limited but they still let me have a couple of hundred on. I am going to try and spread things out, so £50 doubles in a couple of places etc.
Anyway I’ve rambled quite a lot there – I’m just after people’s thoughts really – how much of your bank do you place on each selection, how do you manage your bank etc?
- This topic was modified 8 months, 1 week ago by Wazza.
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