What Is A Betting Bank?

A betting bank is a set amount of money that a punter puts aside to exclusively use for gambling. There are no set rules as to how much you should start with, except that it should only bet what you can afford to lose. If you can only afford to lose £100 a month, start with that and see how you go. Don’t compare your betting bank size to others as it’s not a competition and should never be so.

A lot of punters, especially those who aren’t looking to take their betting too seriously, will simply use dip into their overall finances to fund any gambling they do. This might work for the average punter who places the odd bet for fun but that’s not the case for anyone looking to take their betting to the next level or those who are following a tipster.

Having a betting bank is vital for any serious gambler and it is recommended that every Betting Gods member should have one.

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How to Setup a Betting Bank

Setting up a betting bank is easy, but there are a few factors to take into account:

First of all, you need to decide how much to have in your gambling fund. It should be a figure that doesn’t affect your overall finances, meaning that you will still be able to pay the bills at the end of the month.

Once you have decided how much is in your betting bank, you need to work out a proper strategy. If you don’t follow a tipster then you need to decide what risk factor to apply to your betting bank. How much of your bank do you want to risk per point that you bet? Let’s assume you have £2,500 and you only want to risk a maximum of £25.00 on each bet (assuming 1pt level bets). You need to take your £2,500 and divide by £25.00 From this, you’ll get 100pts which is the size of your bank.

At Betting Gods, and with most tipsters, the tipster will recommend a starting bank value based on their betting strategy, the risk, the losing runs and more. These starting banks can range from 50pts through to 500pts. When following a tipster, it is vital that you follow their betting bank advice as they know their service better than anyone.

Using £25/pt as an example these betting banks would be:

50pt bank = £1,250
100pt bank = £2,500
250pts bank = £6,250

You can of course as already discussed start with any size of betting bank.
A £10/pt would give you a 50pt bank worth £500, a 100pt bank worth £1,000 and a 250pt bank worth £2,500.

If you follow multiple tipsters then it is a good idea to get a spreadsheet set up with multiple betting banks. This is so that you can carefully track the progress each individual tipster is making for you.

How to Grow Your Betting Bank

One of the best ways to grow your betting bank is to increase your stakes as your profits begin to accumulate. This comes down to personal preference but we recommend recalculating the value of 1pt in your betting bank every 3 or 6 months.

Let’s assume you’re following The Bookies Enemy and after 3 months you have grown your 300pt starting bank of £3,000 to £4,000. After the first 3 months, we would recommend dividing your new betting bank balance by the same 300pt to get the new value of 1pt, in this case, an increase from £10.00 to £13.33 per point.

An alternative strategy is to withdraw 50% of the profit made, and then re-adjust your bank.
Using the same £4,000 (a £1,000 profit on your initial £3,000) this would be a withdrawal of £500 and your new bank is £3,500. The pt value would then become £11.66 and you’ve withdrawn a tidy sum of profit to reward your investments and work to date.

The reverse process can be applied when you’re losing to further protect your bank. If after 3 months your bank has decreased then recalculate the value of 1pt and continue from there.

This does come down to personal preference with some punters preferring to recalculate monthly while others adjust quarterly, bi-annual, or even annual.

How to Withdraw from Your Betting Bank

Ultimately, you’re betting to make money, right? Well, there’s no point in growing your betting bank if you’re never going to reap the rewards so you should always try and withdraw a little from your bank every so often.

We recommend setting a target in mind: Do you want to double your bank? Do you want to see it increase by £300? Whatever the target, set it and wait for it to happen.

When it does, we recommend withdrawing a set % of your bank. Again, this comes down to personal preference. But remember when you withdraw anything from your betting bank you need to always recalculate the value of 1pt based on the new, lower value of your betting bank.

So Why Do You Need a Betting Bank?

There are several advantages to having a betting bank:

• Control Over Your Betting Finances – It’s surprising how many punters don’t know how much they bet last week, last month or this year. This is a huge worry and just goes to show how easy it is for things to get out of hand financially when betting. By implementing a betting bank and recording it carefully in a spreadsheet, you will always know how much profit/loss each of your strategies or tipsters are generating.

• Protection of Your Personal Finances – By keeping your betting money separate, you don’t run the risk of ‘accidentally’ spending money you need to pay the bills. Unfortunately, too many people rely on their betting to recoup any money they take out of their personal bank account which leads to an emotional spiral.

• Reduced Risk – With a betting bank, you have far more control over what percentage of your bank you’re putting at risk with each bet. Many casual punters will stick £10 on here, £20 on there but ultimately have no consistency. With a betting bank, you become more consistent in the amount of money you’re risking per bet and therefore reduce your risk of things getting out of hand.

Frequently Asked Questions

Based on the insights gathered, here are suggested FAQs that incorporate the requested keywords naturally and contextually, tailored for the British audience and spelling conventions used on your site:

Frequently Asked Questions (FAQs)

What is a Betting Bank?

A Betting Bank is an allocated sum of money set aside by a punter exclusively for betting purposes. It helps in managing finances, protecting personal finances from impulsive betting, and implementing a disciplined betting strategy. Adjusting the betting bank based on wins and losses, while essential, boils down to personal preference—monthly, quarterly, bi-annual, or annual adjustments can be made.

Why Do I Need a Betting Bank?

Having a Betting Bank offers several benefits including control over your betting finances, protection of your personal finances, and reduced risk through consistent betting amounts. It fosters a more methodical approach to betting, making it easier to track profit/loss and ensuring money used for betting is not required for daily expenses.

How Should I Adjust My Betting Bank Over Time?

Adjusting your bank bet is vital for maintaining a healthy betting strategy. It is recommended to withdraw a percentage of profits occasionally and to recalculate the value of 1pt based on the new total of your bet bank. This helps in rewarding your successful betting efforts and also in managing your bank during losing periods.

What Does 1pt Mean in Betting?

In the context of betting, “1pt” refers to one point and represents a unit of your betting bank. For instance, if your betting bank is £300 and you’re working with a 100pt system, 1pt would equal £3. This system helps in managing stakes and keeping betting amounts proportional to the size of your betting bank.

Can I Use a Credit Card to Fund My Betting Bank?

In the UK, using credit cards for funding betting accounts is not permitted. The UK Gambling Commission banned the use of credit cards for gambling transactions from April 14, 2020, to promote responsible gambling and prevent financial harm. However, debit cards remain an acceptable method of funding betting accounts.

How Do Odds Affect My Betting Bank’s Performance?

The odds you bet on directly impact your required strike rate (the percentage of bets you need to win to break even or make a profit). Betting at higher odds means you can maintain profitability with a lower strike rate, whereas betting at lower odds requires a higher strike rate. Understanding the balance between odds, strike rate, and bank management is key to a successful betting strategy.

How Can I Find Value in Betting Odds?

Finding value involves betting on odds that you believe represent a greater chance of winning than the implied probability. It’s about assessing the probability of an event occurring as higher than what the odds suggest. Consistently identifying value bets is crucial for long-term profitability in betting.

How Do I Choose a Good Tipster?

When looking for a tipster, consider their strike rate and the types of bets they suggest. A high strike rate, especially with higher odds, can lead to a good return on investment (ROI). However, it’s also important to consider the tipster’s consistency, the size of the sample of bets, and their performance in specific betting markets.

20 thoughts on “What Is A Betting Bank?”

  1. Just recently I started betting on line and deposited a betting bank with a bookie, mainly due to medical issues and unable to get out. I only wish I had done it years ago. I let my profits increase then I can raise or decrease my stakes when required and recently withdrew £1000 profit over 3 month period leaving £300 in my betting bank to start again. My inital betting bank was £50, 2x£25 bets with on line bookie, both won, that’s how I started and long may it continue and the plus side is I occasionly get £15 £10 £5 free bets and also get the best SP. Yes a betting bank is a must sound advice from you.

    • A betting bank is something you setup and manage yourself, it isn’t an actual account with anyone.

    • Hi Jeff,

      The best approach is to use a bank for each tipster, or at least combine each bank to one of equivalent value.

      eg. Tipster A – 100pts, Tipster B – 50pts, Tipster C – 100pts
      If using the same bank we’d still recommend a total 250pts.

      Hope this helps.

      • Personally Jeff with multiple tipsters, I decided that a 200 pt bank for all services might work.

        While it may be best to do what they advise.
        If you have forty tipsters for example, you’re going to need a lot more money than any customer will have.

  2. Excellent method, but you must withdraw any profit from your set aside bank on the day it is made using your bookmaker’s account records, staying honest with yourself!

  3. Just recently I blew up an amount made within a week of my betting being a newbie in the car.
    How can one get a good free tipster minding the fact that not everyone can afford to pay for their service at this early stage.
    Thank you

  4. hi i am new so slightly confused on the meanings of 1pts and 2pts also can you also tell me what the suitable betting stake is such as with a account that has 300£ to start with

  5. I love the honest straight-forward
    advice on Betting Gods .
    Even myself – a very experienced
    punter can learn new things.
    For instance – to treat it as a
    Long- term project and not just
    week-to-week ( usually losing )
    Thank you Darren for being
    the Punters friend – and not just
    helping us to gamble ! ( and lose ! )
    If I was to run my own Betting
    Service I would do it this way!
    Happy Days to Everyone


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