Question. What is the most important part of betting?
Now, I’m sure most of you are screaming at your phone, laptop, or ipad, saying “picking winners of course!” Well, you’d be wrong. Yes, of course, every once in a while you’re going to need to back some winners, but put simply, poor money management will leave exactly that, poor!
Let’s start with the basics. First thing to do is assign yourself a bankroll. A bankroll is simply an amount of money that you set aside to bet with. The important thing is to make sure that this bankroll does not impact your life in any significant way. You should never bet with money that is needed for rent, bills, your mortgage, etc.
As I know everyone has a slightly different approach when it comes to bankrolls, you will see that each of my selections has 3 different staking methods next to it. Which are a percentage, an amount in actual £, and points. Whichever one you choose to use is entirely up to you, it’s simply which one you find easier to follow and calculate. Below is an example of a selection I send to my clients:
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Gary Woodland
The US Open champ continued where he left off prior to lockdown, finishing inside the top 10. His game looked in great shape, as well as his physical shape, after losing 20/25lbs in lockdown. Whilst he hasn’t tee’d it up at Harbour Town since 2013, I feel that the golf course may suit his new ‘stinger style tee shot which has taken him from 7th in Apex Height in 2019, to 61st in 2019. It won’t be long until he’s back in the winner’s circle, and with odds around 40/1 I’m happy to take a chance that it’ll be this Sunday.
Each-Way Winner
Best Available Odds: 45/1 with Will Hill – Stake 0.80% (0.40% each-way) or £40 (£20 each-way) or 4 points (2 points each-way)
Lowest Acceptable Odds: 40/1
Top 10 Finish
Best Available Odds: 6/1 with Several – Stake 0.80% or £40 or 4 points
Lowest Acceptable Odds: 5/1
Top 20 Finish
Best Available Odds: 11/4 with Several – Stake 0.80% or £40 or 4 points
Lowest Acceptable Odds: 5/2
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Percentage Staking
Pretty simple, whatever bankroll you choose, divide it by the advised percentages. So let’s say your bankroll is £1000, you would place £8 on Woodland to win (£4 each-way), as 1% of £1000 is £10, making 0.80% the equivalent to £8.You may want to use this way of staking if you’re more mathematically minded.
Advised Stakes (£)
These stakes are based upon a starting bankroll of £5,000, so please adjust where necessary if you using a higher or lower amount for your own bankroll.
Points Staking
Some people prefer to use points instead of percentages, so I have also accommodated that format. The points are based upon a starting bankroll of 500 points if choosing to follow all 3 markets (win/each-way, top 10, and top 20). If you wish to follow just the win/each-way then I advise 250 points, just the top 10’s I advise 150 points, and just the top 20’s I advise 100 points.
These staking plans allow you to sail through the inevitable ups and downs that are part and parcel of betting on golf. Unlike most sports you are not going to land a winner every week (in fact 11.8% of the time over the past 2 years), so you need a plan in place that can deal with the losing runs. However, when that winner comes you know it’s going to be HUGE.
On top of that, the additional Top 10, and Top 20 finishes, provide a more consistent return, with the Top 10’s landing a winner 21.5% of the time, and Top 20’s winning 38% of the time.
The alternatively to the advised staking plan, is to use level stakes, whilst level stakes brings slightly more risks, the rewards, or in this case returns, can be even greater.
By all means feel free to use any staking plan you wish, this is just the one I have used for several years, and will continue to use in the future.
If you have any questions regarding the above, do not hesitate in contacting me via email or twitter.
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