2) Failure to Stake Correctly
It is vital that you consider your betting bank as capped in amount. You do not have an endless pool of resources to dip into. Betting by its nature carries inherent risks. These risks include periods of low strike rates and long losing runs. Your betting bank and staking should be adapted for the method you use. You must in advance, prepare yourself for the possibility of a worse than average sequence of losers through adoption of a sufficient number of units in your betting bank. Correct methodical staking in addition to the mathematical advantage, can also help overcome the risk of emotional reaction to a sequence of unusually positive or negative results. Take the Pricewise column in the racing post as an example. Long term if you could get on at the advised prices, it would have returned a decent profit overall. During this time however followers would have to have endured runs of up to 40 losers in a row! Despite the overall long term profit I suspect the vast majority of Pricewise followers would have been terminated either by a failure to set aside a sufficient amount of points or through failure to cope with the emotion of the losing run. We have long since established here a strike rate of about 35% on our Best Bet selections and at an average S.P. of over 5/2 for each winning bet. We feel able to protect clients banks as long losing runs haven't happened and the strike rate and odds have been more than enough to ensure long steady and safe growth for your betting profits. That is in essence the key to winning money. Manage your accounts in a way that protects them as far as possible from the element of risk that the game presents you.
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