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Staking Correctly When Betting

Incorrect bidding is a common mistake

If you’ve used any betting system, whether it’s for horses, greyhounds or sports, it’s important to use it correctly and have the right mindset. If you’re going to chase horses that pay around 10/1 you need to understand that you need one win out of 11 to break even, if you can beat that odds you’re in the money, but a lot of players will use the system, then after one loss to announce: “The system is not working”.

The real reason why the system didn’t work for them is because they never gave it a chance to work. Some players will stick with the system for a while and then abandon it after a losing streak only to produce winners to make up for their losses; you should have a big enough pot to support you during a failed startup.

The winners will not come in an orderly fashion; they will come in groups, as will the losers. If you have a winning percentage of 25%, you will not get 1 winner for every 4 bets. It is entirely possible to get 9 losers in a row followed by 3 winners in a row. You may have hit a bad streak, but still hit a 25% win rate during that particular 12-bet streak.

For most players, the problem is not a lack of money. It is their lack of faith in the system during a bad period. As a system player, you have to be mentally strong to withstand this.

Another reason for failures in the betting system is incorrect staking.

I know a couple of players who started betting on the Cricket World Cup; they bet on New Zealand and things were going well when they were winning but then they lost three games in a row which wiped out their profit plus the original bet.

Their problem was the wrong rate; they bet too much compared to how much they had in their betting account.

In other words; they put too many eggs in one basket.

You have to do the math; if you choose to bet on teams that pay at least $1.50 (1/2), that means you’ll need a 66% win ratio to break even.

If you take higher risk bet types, you will need a bigger pot to see you through the longer losing streaks that occur when you bet on triples, jackpots, etc.

There are different types of betting systems, but the most dangerous is to increase the size of the bets with each loss. With this type of living, it’s all too easy to get out of your depth and lose more than you can afford.

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