Whether you are new to betting or have been doing it a long time, there is always time to implement a staking plan into your betting strategy. A staking plan will help protect your bank balance if you have a bad run and will also stop you constantly depositing money. Whether your betting balance is £10, £100 or £1000 a staking plan, if correctly stuck too, will help you out in knowing how successful you are being when you bet. I advise betting no more than 3% of your bank, (£3 if your balance is £100) but I rarely bet this, you see, you dont have to bet big to have fun, I normally use 1% and 2% stakes. You have to imagine this, you put 5 bets on, you put £5 on each one and they all lose, thats £25 gone straight away, which is 25% of your betting bank roll, this is a huge percentage to lose, however, if you put just £1 on those bets, its only £5 lost which is a lot easier to win back on another day then £25. You can change your staking plan according to your betting balance, if you start off with £10, then your 1% would be 10p, and this would take 100 bets to wipe out your balance, the same with a bank roll of £100 and a £1 stake, it may not bring back huge returns, but its better than losing a lot of money. This method is also reassuring that you have something to fall back on, if you lose a bet, you shouldnt be bothered about what you have lost, that means you are betting too much! Only bet what you can afford to lose and not your rent money etc.
The previous comment brings me on to my next point, DO NOT chase your bets. You have lost £20, so you deposit and put another £20 bet on just to try and claw it back, yes, it may work a few times but its no way to go about your betting because mentally, you are going to feel like its an okay approach to lose £20 and then lump another £20 on something @ 2 odds just because it may put you back level or in profit. However, this is not the way to go, especially if you are not in the right mind frame and are betting on anything, this is quickest way to losing a lot of money. Like previously mentioned, keep it small stakes and keep it fun, because I cant imagine putting £10 on every bet is fun, yes you may win £30, but thats after you’ve lost £80 because of 200+ odds accumulators or other bets that you may have just been unlucky with.
My next point, we are using low stakes anyway, but the higher the risk of the bet, then the lower stake. This should seem pretty obvious. If you have a double of BTTS in both halves which offer massive odds then you could see yourself with a 300/1 double, then it would be wise to only put a 0.5% of your betting balance on it (50p) or if you have a low risk bet such as a 1.50 odds or 1/2, then this may be a bet that you can put 2% or 3% on. Of course, even with the low odds you never want to be betting blind, do your research to try and improve your success rate.
Finally, my staking plan, you may have figured it out:
1pt stake = £1
2pt stake = £2
3pt Stake =£3
I hope this helped you understand how important a staking plan is, it keeps betting fun and also protects your bank balance.