This is a detailed explanation of how to handle and manage your bank.
1) Choose the size of your initial bank
This is entirely up to you, and depends on how much money you have to spare.
2) Work out how much you will be betting each time
Betting is a risky subject no matter how good your information is. There will still be days when everything can go wrong. As such, we suggest that your bank is a minimum of 10x the amount you are going to bet. 20x is better as it offers a nice safety margin.
For example, you can set up a bank of £100, and bet £10 each time. Having an initial bank of £200 gives you a better safety net in case something goes wrong.
3) Never deviate from the amount you have selected to bet!
This is level betting. It is often tempting to bet higher on a horse that you have a strong belief is going to lose, but varying your bets damages the system.
4) Get your selections daily from Horse Laying Network and lay them
Horse Laying Network currently supplies selections in different groups. The Orange Plan, and the Blue Plan. Each plan has up to 4 horses per day. Both plans are selected in the same way, the Blue Plan horses are those who are being offered on the betting exchanges at less than 3.25. The Orange Plan horses are those who are being offered at between 3.25 and 7.25. The midday price on the major betting exchanges is supplied with each horse.
We suggest, until you know what you are doing, that you only back the BLUE PLAN horses. We supply a maximum of 4 horses every day. We suggest you back them all, or choose to only back 1,2 or 3 every day. Check the betting exchanges before you bet to make sure that the odds haven't drifted above 3.25, if they do then DO NOT LAY that horse.
Check the horse just prior to the race. Sometimes the price of the horse may drift and trade higher than 3.25. If this is the case we suggest you back the horse to remove any loss on the race. If it drifts severely it may be possible to create an arbitrage on the horse. A bet of half your stake to back the horse can ensure you get a profit whether the horse wins or loses.
5) Stand by your bank
You will have up days, and you will have down days. We have had users who's banks have exploded from £100 to several thousand within a month, and others who's banks have struggled at first.
When your bank explodes into the £ thousands you may be tempted to alter the amount you bet each time.
Don't just do this for no reason
If you feel like you want to up your stake every time, end your current bank experiment and start a new one. Take some money out to treat yourself if you like, draw up the new rules for how much you will stake with your new bank and start afresh.
We wish you all the luck in the world. Here's hoping 2008 will be full of success for all our members