The Importance Of Your Betting Bank
Published on 14/07/15
With new members signing up to Betting Gods every day – we’d like to stress the importance of having the correct size Betting Bank to start with, and continuing to manage it correctly.
Many amateur gamblers make the same mistake – they start betting on a new system or following a tipster without having the suggested Betting Bank. So hands up who has started following someone’s tips, or a new system, with just a few times the average stake, lost that money on a few losing bets, then had to watch in disgust as the next few tips have won.
It’s a mistake I made on several occasions – it’s one you should never make again!
Recommended Betting Bank
Any good tipping service comes with a recommended betting bank. Using my own Big Race Bookie Busters as an example – the recommended betting bank is 100 points. Or at £10 per point – £1,000.
The reason for this is no matter how good any system proves in the long run – it will definitely experience periods of downturn. If you’re unlucky enough to join a service at a downturn rather than a profitable period – your betting bank is there to see you through the bad period and leave you with enough money to get through the other side.
Using Big Race Bookie Busters as an example again, members who joined in April experienced quick profits that boosted their bank very quickly. However, those who joined in July had to watch their bank fall by 34 points in a 10-day period, before it recovered to show a 19 point profit just a few days later.
Anyone who had started with a third of the recommended bank would have been down and out, but having the correct bank allowed them to ride that rough patch and come out of it smiling.
These swings and roundabouts are inevitable – so just remember that you’re in it for the long-term.
Managing Your Bank
- Start by setting a reasonable goal. If you want to make a £2,000 in a year (say to pay for Christmas or a holiday) – then set your stake per point according to the average revenue of your chosen tipster.
- Keep your betting bank separate from all other money, and never be tempted to dip into it for something that you fancy on a whim.
- Leave all money in the betting bank until your goal has been achieved, and then reassess the situation.
- Never be tempted to use the same betting bank for two different tipsters – just in case they hit a losing streak at the same time.
Growing Your Bank
If you’re someone who wants to bet in bigger amounts in the future then you may wish to use your betting bank slightly differently. If you start with a betting bank of £1,000 to bet at £10 a point, you may wish to increase your stake as your betting bank grows. E.g. after 3 months, if you’ve made £500 profit, you will have a bank of £1,500, and may wish to increase your average stake to £15 per point, and so on – but that choice is yours to make.
Either way, if you want to bet like a Betting God – Bet with the correct betting Bank!