Hi Michaelg, Party, Bhags, Wesmip et al.

Just wondering, what type of staking approach (level stakes or % of bank or % of bank non reducing or other) is best that you've found for a place betting method? Not keen on progressive/chasing staking.

Currently, I've got a selection method, not a system as such although; it uses quality ratings as a base and a couple of filters over the top (max 4 additional rules).

It's currently hitting at 85% and returned 16.1 units over 100 bets (obviously equates to 16% POT), longest run of outs has been 2 and has hit 4 No Third Dividend results. The 100 bets are after being screened from 550 initial contenders....over almost two months.

So at level stakes, it really is showing promise, and the win is also in profit of 30 units for the win, with a couple of $9 winners and 44% Strike rate.....so tempting as a win method.

I must be getting a bit older as I'm finding the regular small wins on the place more enticing, and to a point, stress free as you have 3 chances and not one

There is enough action for me, being usually 1-2 selections a day and 3-4 on a Saturday and the best thing is it takes around 5 mins per meeting - which includes entering in the database and running the macros to apply the filters...

I do have a place staking plan from PPM and I think it was Alan Jacobs where they reinvest/parlay 25% of the profit from the prior winners on to the next selection - so you could have a fair bet riding on a selection after a run of 5 or 6 successes...it's seems a great way to build the bank, but very involved and hard to do unless you’re watching each race, which I would prefer not to....

Anyway, any help would be appreciated as currently betting level stakes of 1 unit (equates to 1% of beginning bank).

If I get time to post, I'll see if the forum curse can take it's best shot at the selections

Thanks In Advance

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Stix
.......Giddy Up..... !!

Stix,

I don't use staking plans, but I am currently testing a Place system both here and in the U.K. Because the system has a high strike rate and an acceptable POT I have been considering using a staking plan instead of level stakes if the success continues.

My intended staking plan is the one Maria so successfully used. It happens to also be one of your suggested plans, i.e. non-reducing percentage of bank. This (like many other staking plans) increases the profit on almost any successful system, but maybe just as importantly, it also increases the interest so that each day's betting can be more exciting than the previous.

Of course, it just comes down to a matter of prefence.

STIX, I'll ditto Michaels post, I was an out and out gambler for many years, always betting from the gut, but when I look back I was in fact making those gut judgements from "in-race " observations. Needless to say I had some spectacular wins and some soul destroying losses, (usually involving photo finishes)

Anyway, I got smart a few years ago, and have been place betting (mainly) ever since)

As you say Michael, it can be a bit boring, and almost any staking plan will not go astray IF the plan is in profit at level stakes. The problem is not the losing run as such its the succession of losing runs punctuated by a few skinny dividends.

eg. 9 losers then $1.10c, $1.30c, 6 losers, then $1.20c, $1.20c 5 losers, you get the idea, this sort of horror run happens even with a great plan that shows an overall POT.

So the bottom line is 1% of bank non reducing, just to spice things up again.

The +25% after a winner is not bad, but I would have a stop gap at say 5 hits, then back to 1 unit regardless.

Hi Party
did you notice the late mail at POL r1
not mentioned in the tips?
Won at more than $8.00.

Good luck

Ditto
SEY R3 No 8 placed at $2.00

Thanks Party, Michaelg

Going to re run the selections with 1.5% NR.... let you know the difference.

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Stix
.......Giddy Up..... !!

Stix, I don't know if you bet with Betfair, but their Place prices are quite generous.

My Oz Place system is currently showing a POT of 16% with NSW TAB but 25% with Betfair. If I can't bet on Betfair, then I record the Betfair divvy as the same as the TAB. So if I had been able bet every race on Betfair I would not be surprised if the POT with Betfair had been even higher. Over my latest 12 Place successes, 11 of my Betfair prices have exceeded the TAB divvy, and the other was more or less identical, even with Betfair's 5% takeout.

Some Oz Saturday races now have the SP facility on Place betting. I contacted Betfair to see if this will be extended to all races. They replied it would not be in the forseeable future, and could not give an answer if it will ever happen. Fortunately it is available on the U.K. races which is very convenient for me.

Lomaca, mmmmm, definitly looks like another angle, I'd noticed it when the 100 pointer wasn't in their (Radio Tips) top 3 , but had missed that 1.

PS. When I say "I got smart" I wasn't trying to imply that place betting is the only way to go, I merely mean that for ME, its what suits.

PPS, Love the banter guys, keep it coming!!

PS. When I say "I got smart" I wasn't trying to imply that place betting is the only way to go,

Yes you were, I read it with my very own eye balls..so there.

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Cheers.

Stix
I like the idea of target betting, mine is 3% of bank. But you need to now what it is going to pay. If you lose two in a row then target what you are down.
Works with high S/R.

Cheers