firstly i would like to appologize to any experienced gamblers who may think i am stating the obvious but this thread is really for any member who may have a limited knowledge of horseracing and a dream of making a living from it.
Those of you that have read my post will know that i have been gambling for a living for a number of years now and, i thought i could pass on my own experiences with others in the hope that they can learn from my mistakes and make the game pay.
I am not very good on the key board so if i appear blunt then it is only to minimize the content shall endevour to show selection method /skaking/betting bank and i will also eventually put up my own actual selections so anyone who wants to either read along or actually bet will know exactly how i stand financially at any point .
95% of my betting involes dutching (more than 1 horse to a race) and i belive this is the road to go down to consistanitly make a profit.
Unfortunatly with cheltenham only a day or two away i have picked a very busy time for me to start this thread but as i speciaize in flat racing sprints in particular i think that by the time the flat starts we can have gone over the basics and be ready to make some money anyway lets start with the betting bank.
Just how much do you want to win in any particular week ?i personaly work to a 7.5%of my bank size .
I start on a monday and finish as soon as my target has been reached.It doesnt matter how many days it takes to reach your weekly target in the summer you can find enough suitable races in a day or two but during the winter it may take all week with my target of £750p/w i work with a bank of 10k ,this enables me to bet to a decent amount but also gives me the security of any losing runs .
At anytime no matter what the price of the horse we will always bet 2%of current bank .As bank goes up and down with winners and losers obviously stake size changes but always 2% so if for example your target weekly amount is £100 i suggest that you start with a bank of £1500, with a bank of this size your first bet would obviously be £30 (2%) this stake would then be broken down again to cover either 2 or 3 selections in a race .
Normally we would be looking for a return around ev-4/5 and expect to collect 8/10 .
If am not able to post on a daily basis then please bear with me i will try to post up by 10.00am most mornings.
Thats about it for this time if anyone is not familiar with my filter then i suggest you read through "prw system filter".
This will save me going over it again on this thread .
It is important to have at least a basic understanding of this because it will be an invaluable tool for taking the bookies money when we start betting
back tomorrow ,max.

Hi MAX

Look forward to your postings on this subject, and learning.

Kis

Excellent Max, thanks, we`re gratefull.

Q, Good eh

Hi Max
Very generous of you to start this thread,
I look forward to Learning and hopefully Earning
from your thoughts and ideas.
Regards Del

MAX it is very decent of you to show us amateurs the way forward,that is a new one for me (ie)stop betting for the week as soon as tou have reached the target figure,
the dutching, do you have to do the dutching with the live shows or can you dutch well before the race
best regards

Great stuff Max,will you be taking us through your race/horse selection filters or do we use our own and apply your previously posted filters plus your dutching betting method.
Thanks again.
Q.

Max

I Think whatever level youre at you can always learn something that can be put to good use- so will look forward to your posts with interest.

On another note I did know of one advisor who would give no more bets for that week once he had made an lsp. A very interesting concept - he was successful too

Max;Well you certainly kept your promise.thanks for that.Your method is essentially very high strike rate(80%) with low profit as opposed to bigger prices with higher profit.Your protection for losing runs is bet 2% of bank every time.I will certainly read thoroughly your prw filters and hopefully your success will spread to others.You are to be admired for sharing your information because I generally feel that to some knowledge is power so I`m not going to tell you.You obviously do not come into that category.Cheers.

Hi Max,
It is a very nice gesture for you to do this and I for one am going to follow it with great interest as will others, your imput, knowledge and opinions are much valued by me.
Could I please ask a question, sorry I know its an early stage but Im sure their will be lots to follow.....probably by me ....lol
What happens if you dont make your quota one week either due to bad luck or no racing ie foot and mouth.....Do you add it to next weeks target or do you right it off?
Good Luck...
Regards.......

BRICK

just caught your post as i was logging off.two weeks ago i was about £240 short of target,proir to that it was about five months ago and yes i do write it off,its not like i am chasing loses,just means we have to tighten our belts that week at home.
back later,max.

Cheers for that Max,
One more question......Would you prefer us to ask quetions as we go or would you prefer to finnish posting the thread first?
Regards.....

BRICK

Max,
I re-read your opening post and it seems you will be showing us your selection method,so I shall pay more attention in future,shut up and learn.
Cheers Max.
Quinelle.

i use a 2% increaseing/decreasing stake on all bets,some people prefer to bet to level stakes and there is nothing wrong with this but i find that when things are going right and i am in form so to speak a run of 3 or 4 consecutive winners is common and it makes sense to increase after a win on the other hand if i hit a 3 or 4 losing run (which is rare) then decreasing stake is appropriate.you are never going to get wiped out and any loses are quickly recovered without risky retrieval putting you under any pressure.
i was going to go into a long winded explanation of staking management but trying to put it into words on the screen is not easy.
you have two choices when dutching either split stake equally on all selections,but with varying odds you will obviously have differing returns,ok when your longer priced runner wins then it will pay off but more often than not your first fancy will do the business and you will wish that you had arranged your stakes accordingly.
basically a staking management plan tells you what proportion of the total stake should be bet on each selection to give a base return,the same ammount whatever the result.
here is a selection of common odds with the respective ammount of the book they take up.
11/10=47.6-6/5=45.5-5/4=44.4-11/8=42.1-6/4=40.0-13/8=38.0-7/4=36.0-15/8=35.0-7/4=36.0-15/8=35.0-2/1=33.0-9/4=31.0-5/2=29.0-11/4=27.0-3/1=25.0-10/3=23.0-7/2=22.0-4/1=20.0-9/2=19.0-5/1=17.0-11/2=15.4-6/1=14.3-13/2=13.2-7/1=12.5-15/2=11.8-8/1=11.1-9/1=10.1-10/1=9.1.
the decimal figure(odds points) next to the odds represents how much you would need to stake to win £100.because very rarely will you be working to £100 units you will need to convert the odds points to the unit stake as follows-say your total stake is £30 and you have two horses at 2/1 and 3/1 that you want to back,you will first add up the total odds points 33+25=58,so the total odds points are 58 you now have to divide the total stake 30 by the total odds points 58(30 divided by 58)which gives our single unit value as 54p,next multiply this by each individual odds point (54p multiply by 33=£18 stake horse odds 2/1 and 54p multiply by 25=£13.50 horse odds 3/1)whichever horse wins returns approx £54 to a £30 stake at combined odds to return of 4/5 approx.
remember when staking the more your total odds points the less profit to be made.try to keep your total odds points to below 60 (returns 6/4 on)of course this is not at all practical if you are standing in a betting shop with fluctuating odds but with a little practice it will become second nature and a rough estimation in your head will be sufficiant.
in the above example i have assumed that available odds were taken.
thats about it for tonight sorry to drag on,i am sure that it is plainly obvious to the more experienced among you but like i said earlier i am hoping to help out the members who may not be familiar with basic strategy.
good luck,back soon max.

you ask away mate,whatever and whenever you like.
max.

Cheers Max,
Sorry to ask the questions but as Ive decided to make a more serious effort to transfer to a sole income, I'm open to ideas and suggestions like the advice you are posting so perhaps am more inquisitive than others.
1: You say you set a target of £750 per week does this mean you set a target to win on each race you invest in or do you increase decrease as to the type of race?
2:How does the stake increase decrease with the size of bank if you are setting a target amount to win..or do you increase your target if the bank increases ?
3:If as I think it works that your first bet is £200 to win whatever the amount does it mean that if the bet goes down your new target for the week is £950 and you will reduce your stake to £196 or would you keep it to £200 for a few races?
Sorry to be a pain
Regards......

BRICK

this is becoming a habit,you catching me just as i am going.
right i think i understand what you are asking,if i do not make any sense then sorry it has been a long day(just getting over the shock of backing sullys hope and having the f/c with indian venture)

yes £200 first bet monday-working to 4/5 so about £180 profit if wins.if loses then new target £950,i keep going until i hit £750 profit for the week(not £750 each race)everything goes well then i will usually do it within 2 days in the summer.if things go pear shaped then i will still be plugging away on the saturday.if on the rare occasion i fail to achieve target then hey forget about it and start over next week.
thats what i mean about bank size i am never going to get wiped out,with a bit of luck i will still be at it when a.p's grandson rides his first national winner.
hope thats cleared that up,got to get my beauty sleep and be bright and fresh for tomorrow.
bye for now,max.

Cheers Max,
Good Luck for tommorow.
Regards...

BRICK

Hi MAX

With regards spliting the stake on the selections and not being able to be in the bookies because of work, in your experience would it not be a good idea to work out the stakes using the FP.

Also not trying to be picky and i was never any good at maths, but i make 30 divided by 58 = 51, just trying to clear this up as to get a very clear picture.

Cheer's Kis

nothing gets past you mate,yes you are perfectly correct it is 51.72(rounded up)sorry.
if you can get accurate forcast prices then there is nothing wrong with your suggestion,even better would be to take early prices.
like i said before it is not vitally important for precise staking and it may be easier and more convienient to do a quick mental multiplication and divide stakes as required.
back tonight,max.

Thanks Max, so far so good.

Could you give us a ball park figure please of how many "lessons" we can look forward to?

I do hope you realise just how much we all appreciate this. Well done.

Yours, as always

111
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