If you are a keen player and enjoy horse betting, you should probably consider setting up a betting bank. This is a ‘jackpot’ of cash that is intended to be used as gambling money. How much cash is in it is up to you, but it’s important to keep track of how much goes in and out of the pot. The value of the pot will represent the success of your bets.

It is recommended that you set up a bank account dedicated to your betting pool. This keeps everything organized and makes it easy to track income and expenses. If all the gambling you do is limited to one bank account, there should be no confusion about whether or not you are making a profit. You can find out by reviewing your financial statements.

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

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

– Your bets were too large for the size and scale of your bank.
– Your bank was not strong enough to tolerate long losing streaks (possibly because it supported too many high prices).
– Your horse betting and other game strategies just aren’t skillful enough. This is a very common problem and is difficult to solve. It takes time to learn to bet like a pro. If you are just starting out, you may need to be patient and practice a lot. This is why inexperienced players shouldn’t dive in too quickly and put too much money into their bets too soon.

How to use a banking system

You can solve all the problems described above simply by being careful about your bets. Think about what you want to achieve. There are some people who do not want to take the process so seriously. They are looking to have fun, spend some money and try their luck. And this is fine, as long as they can refill the bank. However, if you’re looking to make a long-term profit, you need to be a little smarter.

Stage One: Bank Value

Calculate how big your betting bank can afford to get. It doesn’t really matter how big your hard cap is, as long as you keep the end goal in mind. You’re supposed to expand 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 Risk

The size of your bets should reflect a fairly modest proportion of your betting bank. You don’t want to put the whole 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 losing streak could last.

Imagine a person backing multiple favorites at par for the money. To begin with, it is important to recognize that bookmakers rely on these options. They think they have a good chance of winning. At even money, it’s reasonable to assume there’s about a 50% chance of winning here.

While these may seem like great odds and entice you to hand over 25% of your betting bank, think carefully about this arrangement. With a score of 50/50, you should expect to lose four times in a row, just over 6% of the time. In other words, if you play a lot, it’s bound to happen. And, when you do, you will lose your 25% stake.

Stage Three – Converting Pounds to Points

As already mentioned, the size of your bank does not matter too much. This is because we transform your pounds into points. Since so many different aspects of the game are reflected in the form of points, it’s helpful to think of a betting bank as worth 100 points. If this were the case, 1% would equal one point.

If your bank was worth 10 pounds sterling, each pound would represent ten points. Or, put another way, each dot would represent ten pence. If you need more help, use the table below for quick and easy calculations.

Stage four: select the right bet

Once your betting bank is ready and your money has been converted into points, you need to identify an attractive and worthwhile bet. Then accumulate the cash. If you are still fairly new to betting, you may want to experiment with basic level betting techniques to get started. They don’t carry too much risk.

Determine what proportion of your betting bank you can pay. This is how you find out how much each of the bets will be. For casual players, a reasonable figure is around 2% of the bank. This figure allows a decent amount of protection against losing streaks, but will make the bank grow at a slow rate.

For more experienced players, a 5% stage is adequate. This allows the betting bank to expand rapidly, but also means that the risk of being eliminated for a losing streak increases.

If you are interested in learning more about how to bet successfully, or are looking for high-quality horse racing advice, visit Betting for Winners today. We can provide you with smart information, advice, tips and suggestions on where to start, how to bet and what techniques to use to ensure success.