When looking to build up a betting bank for horse race betting, its essential that you protect, with all of your might your existing capital, no matter what it is.
One way to increase your bank very steadily is to use the Steady Drip staking strategy. This involves betting 5% of your bank or lower on each bet, in an effort to make a daily 1% of your bank. So for instance if your starting bank is £50, your target for your first bet is to make 50p. This doesn’t sound a lot, and it isn’t. But if you bet with the recommended 5% of the bank you would only have to place £2.50 on a 1/5 shot to hit the profit target. Doesn’t that sound easy? It might not seem as though this method will bring a lot of profit, but if you are able to hit your 1% of the bank target, everyday for a year, your £50 bank will have turned into £1,870.47 after 365 bets.
The problem that you may encounter is thinking that tiny profits dont matter. If I ever have to bet in small amounts,I can quite easily do it by mentally adding a nought to all my bets. This switches my thoughts away from the size of the bet and on to the long term view.
Starting with a big pot of money is great if you can do it, but go into battle on the exchanges or bookies without the proper attitude and your large starting bank will become a small one very quickly. The old chestnut of how do you make a small fortune by betting on horses? start with a large one! is mostly true, but not always.
Starting with a small bank can be preferable, especially when it come to learning and self discipline. In the past I have used a very small bank indeed and bet using tiny amounts. These days it is much easier to do this with online bookies and betting exchanges. It was a different story in years gone by. Walking into the bookies with a fist full of slips, with loads of bets, that totalled a pound didn’t always get me the best reception.
If you can get used to controlling your betting urges when you are dealing with very small bets, then it will be much easier to control them when you are dealing with bigger sums. The flip side of this is that it is so easy to think that it doesn’t matter if you lose a £1 here or 50p there. But it does, always remember that a steady drip will always fill the bucket.
