A staking plan is a method of controlling how much each bet should bet. There are simple staking plans and there are more complicated plans. But at the end of the day all staking plans have the same purposes: To ensure that the possibility of going bust is kept to a minimum and to try to get as high a return as possible!
Human beings are notorious about being lazy, over optimistic or fall foul of one of many of our many foibles which make up the human condition. Without a staking plan it is so easy to see one's betting bank go under.
I have seen people go bust (when one's betting account reaches zero) because they thought that they didn't need a staking plan. I have never seen anyone succeed without one no matter how disciplined they are or, more accurately, how disciplined they claim to be.
There are two aspects to successful betting; the first is to have the right selections. Without a decent set of selections one is never going to make a profit no matter what one does. The other aspect is the money side of things; how much does one put onto the next bet? This is the function of the staking plan; without this one could be placing the wrong stake onto the wrong horse.
Ultimately betting without a staking plan will negate good horse selection. My advice is that your stake must be a maximum of 0.5% to 1% of your bank.
No matter if you lose or win your stake will be always 0.5% to 1% of you last bank.

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