What Is Level-Stakes Betting?
Many Professional Gamblers say you should never place a bet unless you’re happy to have your maximum-bet on it. This basically means you’ll always bet the same stake on every horse you bet-on, regardless of the price, and this is the basic concept behind level-stakes betting. If you prove to be a good judge of a horse’s merits, then adopting a level-stakes approach will be the perfect way to highlight your talents.
Therefore, if your maximum bet is £10, £100 or £1,000, or £5 Each-Way, £50 Each-Way or £500 Each-Way, you will have this bet on every horse you consider worth betting on.
The Betting Bank
The biggest-mistake that all amateur gamblers make is that they never start with a betting bank, or at least not a big-enough betting bank. If you adopt a level-stakes betting method, it is advisable to start gambling with at least 100-times your maximum bet in your bank. The reason for this is that all gamblers, no matter how successful they are in the long-term, will have short-term losing runs. It’s not uncommon for losing-runs to average between 10 and 20 bets, maybe more on rare occasions, so it’s important that you have plenty in the bank so you never need to worry about them – and, more importantly, never miss a winning bet after one of these runs.
When gambling professionally, it’s always advisable to set yourself a target regarding winnings, and what you want to do with them. You may have something you want to buy with your winnings, so simply keep doing what you’re doing until you win the required amount.
However, many professional gamblers set a target at which they will choose to increase the size of their maximum bet.
For example, a professional gambler who bets £100 per bet should have started with a betting bank of £10,000. They then may set their first target at growing their betting bank to £15,000. When they've done this, whilst I’m sure they could find plenty of things to spend that extra £5,000 on, the professional gambler usually chooses to increase the size of their maximum-bet to £150 at this point; increasing their winnings exponentially if they continues to gamble with similar success. They then also set themselves their next target.
Always Be Patient
Whilst not starting with the correct betting bank is the first mistake amateur gamblers make, the second is chasing losses. Some people choose to increase their stakes if they have a loser, looking to win back the money they initially lost, plus win on their next bet. However, you only need one lengthy losing-spell with this method to end-up in the poorhouse. Imagine doubling your stake on each-bet. You’d start with £10, then £20, then £40, then £80, then £160, then £320 and, after just 6-bets, you wouldn’t have enough left in your £1,000 betting bank to cover the next bet of £640 – so stick to a Level-Stakes Betting Method if you want to make long-term profits.