Advice

Structuring Your Betting

(Last Updated On: January 13, 2014)

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Finding your selections and placing your  bets is only one part of betting successfully. You also need to have a structure for your betting that takes into account next week, next month and even next year!

This is your business plan.

It’s this planning that separates those who enjoy betting as a hobby and those who want to make serious profits from it. If you’re the latter type of person then you must make a business plan.

After all, if you’re going to be making serious profit then it is a business. With the added benefit that you don’t have to pay tax on those profits 😉

Today I’m going to outline a betting structure for you. Think of this as your blueprint to becoming a full time pro.

I’m going to assume that you have a selection method. If you haven’t then there are a ton of them in other posts on this site.

We’re going to start with our final goal. This may be to make £2000 profit per month. Of course we know that it will take some time to get to this level but we want to have a focus.

GOAL: Make a monthly profit of £2000

That’s great, we have our first goal and it’s written down in black and white. Now we can chart our progress properly.

Next we want to break down how we’re going to get to this goal. You will need to make changes to the calculations below based on your bankroll, ROI and number of strategies you’re running.

The first thing we need to do then, is to write down this information.

Bankroll: £1000

ROI: 10%

Selections per month: 35

Average Size Unit per Bet: £25

With this information we can start to work out how we’re going to reach our goal of £2000 per month.

At the moment we are betting and average of £25 over thirty five bets per month. This means we are betting £875 per month.

We make a return on investment of 10%, so this betting results in an average profit of £87.50 per month.

For the first three months we are going to reinvest this money into our bankroll. So at the end of the first month our bankroll will be £1087.50 and our stakes will now be an average of £27.

This makes our second months turnover £945 and our profit £94.50. Reinvested into the third month our bankroll is £1182 and the average stake is £29.

Our turnover in month three is £1015 and we are making a profit of £101.

While initially those figures don’t look high, let’s look at exactly what we’ve done.

  • We’ve increased our profit from £87.50 to £101. That’s a 15% increase in monthly profit.
  • We’ve increased our bankroll from £1000 to £1283 which is a growth of 28.3%!

So far we’re looking good.

At this point I suggest taking some of your bankroll out. How much is dependent on how quickly you want it to grow but it’s important that you take something out so you can feel that your work and progress has been for something.

With all betting there’s also always going to be some months when you don’t make a profit and there will always be a possibility that you may lose your bankroll.

This is why it’s very important to spend some of the profit regularly, otherwise it can feel like the goal is unachievable. Let’s say we take out the £83 to get a nice meal with your family.

During these first three months, we aren’t just placing bets on our selections for the first strategy. We are also developing and paper trading our second strategy which we are planning on launching in our fourth month.

This means that we now have a new strategy which has:

Bankroll: £500

ROI: 5%

Selections per month: 95

Average Size Unit per Bet: £5

In our fourth month we are now betting both strategies. This means that we get:

First Strategy Second Strategy
Bankroll  £1,200.00 Bankroll  £500.00
Bets 35 Bets 35
ROI 10% ROI 5%
Avg. Stake  £30.00 Avg. Stake  £5.00
Staked  £1,050.00 Staked  £175.00
Profit  £105.00 Profit  £17.50

 

In our fourth month we made a profit of £129.76 and we reinvest this into our bankrolls. We then see:

Fifth Month

First Strategy Second Strategy
Bankroll  £1,395.26 Bankroll  £517.50
Bets 35 Bets 35
ROI 10% ROI 5%
Avg. Stake  £34.88 Avg. Stake  £5.18
Staked  £1,220.85 Staked  £181.13
Profit  £122.09 Profit  £18.11

Six Month

First Strategy Second Strategy
Bankroll  £1,419.19 Bankroll  £535.61
Bets 35 Bets 35
ROI 10% ROI 5%
Avg. Stake  £35.48 Avg. Stake  £5.36
Staked  £1,241.79 Staked  £187.46
Profit  £124.18 Profit  £18.75

 

Our total bankrolls now stand at…

STRATEGY 1: £1543.37

STRATEGY 2: £554.36

After six months our first bankroll has increased by 54% and after three months our second bankroll has increased by 10.80%. We have also increased our monthly profit from £87.50 per month to £142.93, a 63% increase!

We have invested a total of £1500 and we’ve now got £1954.80 that’s a 30% increase after our nice meal last time.

But of course, we haven’t been standing still during months four, five and six. We’ve been developing another niche strategy which we’re going to add in month seven.

And after month nine you…

…rinse and repeat!

Keep following this method and you will find that you’re hitting your goal within two years (dependent on the bankroll, number of selections and ROI).

Most importantly, what you have is a business plan. A goal for your business and an outline of how you’re going to develop it. There’s no more guessing, no more doing what feels right. There is a single, well-planned path ahead and all you need to do is follow it.

Michael Wilding

Michael started the Race Advisor in 2009 to help bettors become long-term profitable. After writing hundreds of articles I started to build software that contained my personal ratings. The Race Advisor has more factors for UK horse racing than any other site, and we pride ourselves on creating tools and strategies that are unique, and allow you to make a long-term profit without the need for tipsters. You can also check out my personal blog or my personal Instagram account.

2 Comments

  1. I Have implemented this strategy since the start of this year and it has worked very well, the only addition to it was when you say the ROI should be 10% or 5% of Stake if my profit is above that figure I withdraw the extra funds as profit if it is below that figure I withdraw 0, and reinvest the 10%/5% ROI so my bank increases each month but still have a withdrawal, for example lets say my take is 100 my ROI would be 10, my actual ROI is 17 so i withdraw 7 and invest 10 bank into the bank.

    Thanks again Michael great words of wisdom

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