The Importance of a Staking Plan and “The Pot”

When you’re involved in gambling or considering placing a bet, it’s crucial to ask yourself, “Can I afford to bet this?” If the answer is no, then step away from the bookmakers or put your phone away. Discipline is the key to successful betting, and I cannot emphasise this enough.

If your aim is to profit from betting, the key is to manage the amount you stake. You should establish a separate betting fund – The Pot. The Pot must not impact your essential expenses like bills, food, or housing. The Pot can then be divided into percentages, and it’s imperative to adhere to this plan. Keep in mind that we all come from diverse backgrounds and face unique daily financial challenges, where gambling rarely provides a solution.

The size of your Pot can vary greatly, whether it’s £50, £100 or £1,000 and to ensure responsible betting and safeguard your funds, we’ll outline a staking plan below. Here’s a hypothetical breakdown based on a £1,000 pot:

For each bet you’ll see that I write about a points system. So…

* For a 1pt Bet: Wager £5, equivalent to 0.5% of your total fund.

* For a 2pt Bet: Place £10, which is 1% of your fund.

* A 3pt Bet: Stake £15, accounting for 1.5% of your fund.

This pattern continues until a 5-Star Bet, which involves a maximum wager of £25, representing 2.5% of your fund.

Let’s talk more about the Staking Plan and how it is vitally important to effectively manage your finances, that’s essentially what it boils down to. Let’s revisit the scenario of having £200 in your account. If you were to bet without a plan, here’s what could happen:

You place a £50 bet on a selection and lose, reducing your balance to £150. Then, you wager £30 on another selection and lose again, your down to £120.

In an attempt to recoup your losses, you make an impulsive £100 bet, but unfortunately, you lose once more, bringing your balance down to £20. Desperate to recover, you chuck the £20 and experience yet another loss, ultimately depleting your balance to zero.

This sequence of events highlights how easily your balance can vanish when chasing losses without a clear plan in place. Follow the plan and you’ll never go down to zero even if we did the incredible feat of losing 10, 20 or 30 bets in a row, which of course can happen.

If you have any questions, feel free to reach out to us through the social media links provided below. Your feedback and inquiries are always welcome.

Please gamble responsibly. BeGambleAware.org

WILL BURNS

Share this:

Related