What size bank do you need.
Good Morning It’s Friday.
I am going to see Cesar Millan (the dog whisperer) on Sunday at Wembley which should be interesting. I have actually found that Cesar is a bit like marmite..people either love him or seem to dislike him…think he is great but on the other hand I hate marmite!!
I want to ask a question and if you like you can reply on my blog.
http://www.horseracingsystemsuk.com/newblog/
What size bank do you think you need in order to make a steady income from betting if you only had one selection a day and it was a lay with an average price of say 20.00?
Now I know it this is a bit of an open ended question and there are a lot of variables involved which include things like…
How much of your bank you are going to risk?
How often do you get a loser?
Are you betting to liability or stake?
So lets just say for this experiment that there are no loses but you have to be sensible with your risk just in case there is a loss!
I am just interested in people opinion of how much they think they can make and what size bank they will need to make that amount.
It’s only a bit of fun so please post what you think here..
http://www.horseracingsystemsuk.com/newblog/
I have my own ideas on this and you may already know what they are but I it would be really interesting to get your view.
I know this is not about horse racing but I wanted to let you know that you may want to keep an eye on these selections if you are interested in football.
http://www.cyobs.co.uk/go_ps.htm
Although the site says it is about to open I know that it is not yet and so there is still chance to get the selections as a trial.
http://www.cyobs.co.uk/go_ps.htm
I will have some other news about this service before they go live so it is worth looking out for my emails.
http://www.cyobs.co.uk/go_ps.htm
Thanks for reading and have a great weekend.
Malcolm
P.S. http://www.magicsys.co.uk/index-lc.asp still hasn’t lost!
I am an amateur because I don;t have time to do the work myself. My view of what you ask is that laying seems to me to be about winning more often than loosing but to make enough profit you have to bet latge, this also means loosing big. As opposed to normal backing where your stake dosn’t need to be so large but your losses are small and known but the wins are less often. Or have I got it all wrong? I wouldn’t want to go the laying route and could only see myself doing so if I had money I didn’t need…!
1Interesting thoughts Malcolm. If have had a quick look and estimated that if you had a 2% edge on your bets then you would be winning 97% of your lays if every horse was layed at odds of 20. Over the course of a year you would expect to lose 10 bets (if having 1 bet per day) and you would achieve a profit of 127.30 units after commission. The longest expected losing streak would be 2 but you could have multiple streaks close together. You could go down by 100 units laying like this if you hit a bad patch and so I would want to bet with a 200 unit bank and betting 1 unit to stake.
2Lets say you want to make £200 a day – and you are prepared to risk 10% of your bank as a liability…
At an average lay price of 20.0, you’d need a bank around £40,000.
Sounds a lot – but if you’re getting an income of £1200 a week tax free, sounds reasonable enough to me!
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