Dedicated Betting Bank - Where Do you Start?

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So, you’ve decided that you want to have a serious go at making money with Football betting?

Perhaps you have had a bad run and are fed up with long losing runs? You no longer want to lose money, but where do you start?

Your priority should be to sort out a betting bank. One effective strategy to build your betting bank without financial risk is matched betting, which many bettors use to maximize their profits through various offers. If you have a dedicated betting bank already, great, you can already move forward. If not, or you don’t even properly understand what a betting bank is, read on.

What is a Dedicated Betting Bank?

A betting bank is a pot of money used solely for sports betting or football betting. You can start one with any amount of money as long as you can afford to lose it. Whether you start with a tenner or a grand, make sure that if you lose it, you won’t suffer financially.

Money for rent, mortgage, food, bills, children, etc., is off-limits; be sensible. It should always be disposable income. No exceptions or you will have the wrong attitude, and it will nearly always inevitably end in ruin. Additionally, managing betting stakes is crucial to ensure you do not risk more than you can afford, helping to prevent significant losses while aiming for consistent profits over time.

Benefits of a dedicated betting bank

Simplified Financial Management

A dedicated betting bank simplifies financial management by keeping your betting funds separate from your everyday expenses. This separation helps you track your betting performance more accurately and ensures that your essential finances remain untouched.

Definition of a betting bank

A betting bank is a dedicated fund set aside exclusively for betting and/or trading. It is a crucial aspect of bank management, allowing individuals to separate their betting activities from their personal finances. A betting bank should never be more than one can afford to lose, and it is essential to keep track of it separately to avoid mixing it with other funds.

Benefits of a dedicated betting bank

Having a dedicated betting bank offers several benefits, including:

Simplified Financial Management: A separate betting bank helps to keep track of betting activities and profits, making it easier to manage finances.
Reduced Risk of Account Closure: By keeping betting activities separate from personal finances, individuals can reduce the risk of account closure due to betting-related transactions.
Improved Tax and Accounting: A dedicated betting bank makes it easier to track and report betting profits, simplifying tax and accounting processes.
Enhanced Discipline: A separate betting bank helps individuals to stick to their betting strategy and avoid making impulsive decisions based on emotions.

Importance of a Separate Bank Account for Betting

Having a separate bank account for betting is essential for several reasons:

Keeping personal and betting finances separate

Keeping personal and betting finances separate is crucial for maintaining a clear overview of betting activities and profits. A separate bank account for betting helps to avoid mixing betting transactions with other finances, making it easier to manage finances and track profits.

Simplifying tax and accounting

A separate bank account for betting makes it easier to track and report betting profits, simplifying tax and accounting processes. This helps individuals to stay compliant with tax regulations and avoid any potential issues.

So How Do You Go About Building A Betting Bank?

1. Use funds already set aside

As discussed above, you should now understand how much disposable income you can afford to bet. Do you have £10 or £100 of disposable income every month? Whatever amount, this is perfect as a starting bank. When selecting a bank for Betting, consider choosing accounts that offer free banking services to make managing your funds more cost-effective.

2. Build the bank as you bet

The smart approach is to build up your betting bank slowly over time, following a few basic sensible rules.

· Don’t add money that you can’t afford to your betting bank, which we’ve already discussed.

· Have a staking plan and stick to it (see the example below). Using a debit card linked to your betting bank account can simplify financial management, allowing you to keep your betting funds separate and track your profits more effectively.

Another effective method to build your betting bank is through matched betting. This strategy involves taking advantage of free bet offers from bookmakers to guarantee a profit, regardless of the outcome of the event. Many bettors have successfully used matched betting to grow their betting banks without financial risk.

Example Betting Stakes Plan

Month 1 – A popular method the 100 point bank (dividing your betting bank by 100). e.g. If you started betting with £100 bank, then your stake size should be £1 per bet. Sounds low and frustrating, but this will protect you when you are inevitably losing bets sometimes.

Say, for example in the first month you have a decent win rate and your initial £100 is now £160. Then at the end of the month, you add the additional £100 you’ve already decided you can afford to take from your disposable income. You now have a betting bank of £260. It is also advisable to use a separate dedicated bank account for managing your betting stakes to keep your finances distinct and organised.

Month 2 – You start the month with your betting bank at £260, so you can increase your stakes proportionately to this figure, so £2.60 stake on each bet.

During the 2nd month, you make smaller gains but still see your bank increase to £300. Again you add £100 at the end of the month.

Follow this pattern until you are happy with your bank size. Apply the same principle even if you make a loss in a month too (this is perfectly normal).

IMPORTANT: You MUST continue to stake according to the bank you have, not the bank size you want. It’s dangerous to think “I plan to have a £1000 bank, so I will stake £10 now” even though you only have a few hundred pounds now. Be patient; this is a long term betting strategy.

3. Build a betting bank using a betting system seed money

Here we’ll talk about using bank building systems from a relatively small amount of money (seed money); a simplified system many of you will want to adopt.

First, this doesn’t mean twenty quid on a 100/1 accumulator and hope for the best. It could win, but realistically, highly unlikely. Neither are we talking about one of those crazy rolling bets with 1.5 odds selections that inevitably fail. Most neglect to bank anything along the way due to greed and impatience.

There are many bank building systems, but here are two that we use consistently and successfully.

The first question you need to ask yourself is, do you want slow and steady progress or a slightly (but not overly) volatile method?

Slow & Steady: 5 Rounds Then Reset Method

It would be best if you determined how much seed money you can comfortably afford (again, from disposable income).

Don’t feel pressured by social media punters placing huge bets. If you can only realistically afford £10 to start the process off, that’s fine; responsibility and common sense have to come foremost.

Using a high street bank account for managing betting activities can be highly beneficial. It offers ease of setup, accessibility, and helps in tracking profits and mitigating potential issues with deposits and identification checks.

Your initial stake for the system should be 10% of your seed money. So, for example, let’s assume you have £50 seed money, your first stake would be £5. You have ten chances before the seed money has gone.

Look for odds of about 2.5 for this system to be efficient and an excellent way to find this information, is to use our Betting Engine.

You can also make a decent selection of statistically reliable picks to make a small accumulator to reach those odds. In-play bets would allow you to get much better odds than you would pre-match, meaning you would need fewer selections to achieve the aim of 2.5.

If the first bet wins, bank your initial starting stake and roll just the profit onto bet 2. As you now have your initial stake deposited back into your betting bank, this is like free betting.

Continue to bank the stake after every win without fail as this allows you to build your pot, even if bets lose further down the line. See the table below for how much to bank after each bet.

If you win all 5 Bets in a row (and yes, it is possible), you stop, reset your stake to 10% of the new bank total, and hit bet cycle 2. Continue this until a bet fails.

If a bet loses, you start again with your initial stake and go from bet 1 again. (If you are into cycle 2 or beyond, restart at the beginning of that cycle).

Bank Builder System 1

Bigger Rewards: 15 Round Jackpot Roller

Like the previous system, you need to determine a comfortable amount of seed money to start.

All the principals of this system are identical, but instead of resetting at Bet 5, you try to get to Bet 15.

Realistically it will be tough to reach the last bet; you will need patience and an enormous slice of luck. Choose your bets sensibly and don't rush.

This system offers much higher potential rewards, but it can be a tad frustrating if you continue only to reach bet 2 or 3.

However, there is no more risk involved, as long as you bank your initial stake after each winning bet. See the table below.

Bank Builder System 2

Whichever system you use, remember stick to the system, have patience and pick your bets sensibly; don't take shortcuts by betting big or not banking the initial stake.

Happy Betting and Good Luck!