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Wanderers Ways. Neil Thompson 1961-2021

Bankroll Management


richbwfc
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I know a few guys on here take their gambling quite seriously so I was after a bit of advice if possible.

 

I have managed to build up a pretty decent bank over the last week or so. Well decent in my eyes anyway...

 

I was wondering if, by choosing sensible "low risk" bets and good bankroll management, would it be possible to win say 5% of your bank each day in order to withdraw this. I know its a very open ended question but thought I would put it out there.

 

What would be the best way of going about managing a bankroll in order to attempt doing this. Should I never bet more than 10% of the bank? Is this too much? Stop once I have reached 5% of the bank for the day? Stop if I have lost too much of the bank in 1 day? Only choose bets of a certain odds range?

 

Any help at all would be helpful if folk are willing to share.

 

If anyone knows how to attach a rubber to a cricket bat handle that would be helpful too...!

 

Cheers.

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Rich,

 

I have been punting for many years (first bet way before I was 16 through my grandfather who was a massive fan of Lester Piggott). Been through the pain like most (if not all) of us and had a significantly lower amount of exceptionally profitable days which is the thing which hooks us all.

 

In the early 80's, I was fortunate enough to have contact with someone who changed the way I approach the punt including what has turned out to be a cast iron staking system. A professional gambler who was 'horses only' and quite wealthy from his operations. The lad had been through the mill - lost wife, home, business, everything with his addiction/obsession. After all of this turmoil, he took a sabbatical in the US and met an American Pro at Aquanita who put him straight.

 

Staking system is quite simple - most of the best things are. Decide how much you want to win. Set your bank at that level. Then, without exception, bet 10% of your bank to win (no EW, place etc.) on each selection. Once your bank breaks through the doubling barrier, draw your premium and return to the original bank level. Simple genius. When you are on a losing run, your bets decrease in value. Winning and they are increasing. With 'normal' staking, this is very often the other way around (many increase stakes if they are falling behind to 'get it back' and consequently lose more than they ever intended).

 

There is also a method of arriving at the list of horses to back but that's a whole other story.

 

I know this system does not give you precisely what you were looking for but I do hope it provides food for thought.

Edited by bolty58
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This mon's fooked off for the next semester and has his bonce buried in Professor Emmet K. Fokkweasels 'Calculus for the Incontinent'.

 

Otherwise, he'd have been on here and said words to the effect of 'thanks,chaps'.

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Sorry, I've been up in Bolton for the weekend without access to proper internet.

Thanks for the input guys.

I'm not sure I would want to stake 10% of my bank as that seems like a lot and more than I have bet before in one bet (bar the odd occasion). Maybe going 5% would be the way to go and then the principle of withdrawing once the bank has doubled. Or halving my original bank and then using the 10% stake.

I've made a lot of improvements to the way I bet recently, notably not going for big wins with Lucky 15s or Patents etc. but sticking to Singles or in some exceptions the odd double. I also like making use of the place market in racing rather than going E/W to find some "value".

I do need to start cutting out the volume of bets though and hopeing this staking strategy/bankroll management could help with that.

Why does this "system" say Win only Bolty and never E/W or Place?

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Rich, at least it seems we may have you thinking sensibly about your staking plan - whatever the amount you decide on.

 

I could proceed to type out loads of hypotheticals about EW bets v. Win bets but I ain't going there. Just trust me that the win bet scenario produces higher profits and gets you to the bank doubling target much more quickly.

 

Up to you though mate - you must decide on the size of your stakes. Einstein not required to deduce that if you go 5%, it is likely to take you twice as long to cross the doubling line.

 

The man from who I learned this ended up adjusting to one seventh of his bank as the stake and reckoned it was better. I have stuck with 10%.

 

If you are interested in Mr. Shack (Dennis Shackleton), I see by Googling 'It Only Hurts A Minute Dennis Shackleton' that his booklet is still available from Browzers in Wythenshawe. 3 quid. His strategy changed the way I think about punting in a very positive manner and I would recommend it to anyone.

Edited by bolty58
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