I'm a complete novice at staking plans. Never used them. Always bet level stakes. There are some interesting plans posted on this forum, and I'm checking them out, - some big claims are made - but as usual I think there's merit in going through the process of designing my own from the ground up. That way I get to understand the principles involved, even if I decide, as usually happens, that its all been done before and I'd be better off listening to the experts.

Seems to me there are two types of approach: you can build on your wins or you can chase your losses. I lack the intestinal fortitude for loss chasing, so I'm looking to build on wins. Here's my first up idea:


The base bet is 10 units.
On a win take the rounded off return price and multiply by two.
Then distribute this figure over the next two races on top of the base bet.

$1 win = extra 2 units on next race.
$2 win = extra 3 units on next race and extra 1 unit on following race.
$3 win = extra 4 units on next race and extra 2 units on following race
$4 win = extra 5 units on next race and extra 3 units on following race
$5 win = extra 6 units on next race and extra 4 units on following race
and so on.

For every out subtract a unit from the next race. Three outs in a row return to base.

Example:

First bet = wins for $2.70 ($3)

The next bet (Bet 2) becomes $14 and the one after that (Bet 3) $12.

If Bet 2 loses then Bet 3 drops to $11. If that loses you're back to base.

If Bet 2 wins at say $3.20 ($3) then Bet 3 becomes $15 and bet 4 becomes $12. And so on.

In effect you are taking a portion of your winnings and reinvesting it. Or rather you are betting a portion of it that you can select two in a row and a smaller portion that you can select three in a row. If you hit outs you pull your head in and retreat.

It is very conservative and doesn't promise to multiply profits fantastically but it seems to me an alright reinvest strategy. As with any win building strategy it depends upon getting strikes back to back.

Appreciate any feedback, even hostile. :smile: In general my question is: how do you tailor a staking scheme to your selection system?

Hermes

Hermes,

If you have read through my past posts (particularly the one that compared staking plans to level stakes) you would probably realise I am not a big fan of staking plans! As plans go, however, what you have proposed is not too bad - if I am reading it right you are only risking a portion of your winnings to try to accelerate your bank growth and you have a definite stop plan there to fall back to your base bet.

The question really becomes does it suit your strike rate, etc (this is probably your point about tailoring it to your selection system). What you need to do is work out what your realistic strike rate is and how often you are going to benefit from the additional stakes versus how often are you just going to waste that money. If you are looking at using this on win betting with a 20% strike rate then it may not be a good plan - but on place bets with 50% strike rate then it may make sense. For example with a 20% strike rate the chances of getting that second win on the next bet (after you have a win) is only 20% - so 4 out of 5 times you are going to miss. Maybe in this case you could look at spreading the extra bet in smaller amounts over a longer sequence (say the next 4 or 5 bets) to improve your chances of getting a hit with the elevated bet.

Basically I think you have to match your staking plan to the strike rate - high strike rates can support a more aggressive plan (eg. Placegetters all-up approach works really well if you have very high-strike rate place bets but will not work with 20% win bets) whilst for lower strike rate/higher div betting you need a much more conservative option. At this stage, because I have about a 12% strike rate, I have taken the ultimate conservative approach and just bet a percentage of my bank - that way the bet size increases when you win (quite slowly) and decreases with a run of outs (also quite slowly) but my bank is always protected.

__________________
"Computers can do that????" - Homer Simpson

Hermes, as always becareful has provided some great advice. The first things to consider are your strike rate and average dividend.
A suggestion would be to have say three banks.
First bank - level stakes.

Second bank - percentage of bank.

Third bank - All-up investment.

The amounts and proportions are up to you, but this method ensures that you don't put all your eggs in one basket and are still turning a profit whilst waiting for two or three wins in a row which can be just cream on the cake.

Hope this helps.

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