Splitting your bank.

Roy1969 (a forum member and owner of my Lay Betting System) made an interesting post in the protected part of forum this morning, about having seperate banks for each of the tips he follows.

I have always thought this is a good idea and even said so on many occasions, although I understand for some people because of the size of their banks it is not always possible, but it is a good habbit to get into whenever possible.

You could just do it on paper by taking your start bank and splitting it in to the appropriate size banks for each type of tip you cover.

So say you had a start bank of £1000 and you followed 3 types of tips, for arguments sake lets take 3 of my own systems that you get with the Lay Betting System

V4 AW
V4 Jump
V3 Jump

So we could write 3 columns on a sheet of paper or in a spreadsheet and give £333.00 for each (I know it's not exactly a 1000, but it is close enough!).

If you have a look at the example table below.

You can see that I have taken the bank and split it into 3 columns along with 3 others showing your stake. This is a simple table but I think it should give you an idea of what I mean but I am sure you can do better.

Note on the V3 Jump how I recorded a loss and then increased the stake the next day (using my prefered staking plan).

I would say though that you really should wait until you have a bank of at least £500 gained from one tip before splitting it up to cover another.

There are problems using one bank or betting account for several tips and the most obvious is that one tip on a losing run could effect the value of the overal bank, to the extent of actually taken funds from your other banks.

So it is important that if one tip does start to put pressure on the others, then it is dropped or at least stoped until you can refund that part of the bank.

You may also find there are periods where because one tips lost and then another that your overal bank may start to go down' but this should be tempory and is why you should keep good records so you can see that overal, each seperate bank is doing what you expect it to. The value of your bank will rise as each selection gets back into profit.

Roy1969 post in the forum also mentioned that he was going to go further and split each bank for each system into further banks to cover the scoring system for each tip.

Let me explain this a little further.

The V4 Jump and V3 jump use a scoring system to work out the best lay from each a day. V4 flat/AW will also have one soon.

Roy wants to still bet on each selection but wants to know how each score level effects his bank and staking plan.

If we take the V4 Jump.

We don't normally use a score of 1 or even 2 because the loss rate is above average, in fact we are starting to look at betting on a score of 1 instead of laying!

So we will start with a score of 3

6 is a little weird although we havent had that many selections.
http://www.makeyourhorseracingpay.co.uk/

So Roy1969 will split his bank it a further 5 sections (it must be big) to see how each performs. I suppose you could call this micro banking!

I would say that Roy1969 idea is extreme but he is serious out making money from the selections so maybe it isn't, he certainly feels it is worth the time and I wouldn't argue with him.

Roy1969 is also keen on using different staking plans so doing it this way he can test different ones for each tip depending on it's success rate.