Staking plans vary in their complexity; from the very simple to the very exotic and complicated. Staking Plan methodology can be modified to any form of betting or speculation, for example, stock market investments, casino table games, etc. Bookmakers want a bettor to pursue losses with blind hope, often counting on luck, and this is what will happen without the use of a disciplined Staking Plan. Staking plans can be risky; they cannot turn a terrible gambler into a professional.

Betting

Betting exchanges are a captivating new development in risk markets which has turned the long-established bookmaking and gambling industry on its head. Betting exchanges have huge turnover now and many billions of dollars are matched each month on these markets. Whether your sports betting consists of back or lay betting there is a staking plan that will suit you. Percentage (bank) staking, like level staking, standardises the amount of the stake, but as a percentage of the size of the current betting bank at the time the bet is placed, rather than as a fixed number of points proportional to the initial bankroll. The first variable you need to specify is your initial betting bank. This is the sum of money you will put aside for your betting.

Bookmaker

Bookmakers are in the business to make money and they too gamble as they adjust the odds. Bookmakers have to gamble at every race meeting, but the gambler has the choice to bet or not to bet on any given race. Bookmakers and top level professional gamblers use little known formulas for this form of calculated betting, where pro's make calculated risks over days, weeks or even months and bookmakers make counter bets to limit their exposure from incoming bets.

The fact of the matter is that Bookmakers constantly come out in front, although a minority of smart well-informed gamblers do make a regular profit and luck has nothing to do with it. Unfortunately, many do not and this fact is probably the most important weapon in the bookmaker’s arsenal.

Staking

Staking plans vary in their complexity; from the exceedingly simple to the fantastically exotic and complicated. Staking a fixed amount on each selection, depending on their chance in a race is an example of a simple plan. If you currently do not use a staking plan you could be losing money. When talking about staking plans, I am referring to those that require you to change the size of your bet (up or down) based on the result of your previous bet.

Proper money management may mean different things to different people, but common elements include: the application of a bankroll of fixed size, set aside for the purposes of betting, which if lost would not be detrimental to everyday living; the identification of a suitable staking plan; the enhancement of returns; the reduction and control of bankruptcy risk to acceptable levels. Level staking forms the benchmark staking strategy against which all others should be compared for profitability and risk assessment.

Conclusion

Without a staking plan it is so easy to see one's betting bank vanish. We have seen people go bust (when one's betting account reaches zero) because they thought that they didn't need a staking plan. This is the function of a 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.