Any gambling system will increase the profit potential if used in conjunction with a betting plan. I’m sure there are gamblers out there who will tell you they have a very reliable system that allows you to bet ‘bet levels’, which are the same amount each time, but very few make a profit this way. Inevitably, you will face some losing bets and any profits will be written off. This is even worse in a ‘laying’ system where you act as the bookie and offer odds on outcomes that don’t happen, for example a football team loses a game.

The worst betting plan is the famous Martindale system! According to the story, Martindale was a gambler who devised a ‘very easy’ system to win at roulette. He started betting $5 on black to win. If red appears, he doubles this to $10. This continues until he reaches a winner. Sounds pretty simple and even ‘safe’ until you crunch some numbers! Immediately you bet $320, $640 to win just $2. Without a big bet bank, you are bound to lose and who has the desire to continue when the stakes get so big!

If you place a bet, for example using the system at Betfair, a good option is to place on a fixed liability rather than a bet. For example, if you have a bank of $500, you can place each bet with a 10% liability, or $50. In theory, you could have ten losing bets in a row without losing your bank. Of course you need to have a reliable and consistent winning system – and believe that it exists! – to make a profit.

Using the Fibonacci sequence for staking is another option that can be used. This is really for lower liability lay systems or for support systems. In this case, you would be betting the Fibonacci system on a ‘stop at a winner’ basis. For example, we bet $1 on the first horse in a race. If you lose, we bet $2 next, $3 if you lose. The Fibonacci sequences are 1, 1, 2, 3, 5, 8, 13, 21… This gives us a relative safety net and is a betting plan I often use to make a profit at Betfair.

Protecting your betting bank is key and any betting plan needs to take several things into account. Winning consistency is key, it’s your overall strike rate. The size of the bank is of course another major consideration. Your own attitude to risk is another major factor. If when the bet reaches $50, $100, do you dare to continue?

Know that before you start or you will inevitably lose!