Betting Myth Busting is back to dispel, yet another, common betting myth.
Today’s myth is: “Progressive staking will help you win more money and eliminate losses.”
Progressive staking is the act of increasing your stake after a loss, usually in order to recover the loss made on the previous losing bet when the second bet wins.
If the second bet loses, a progressive staker would simply increase their bet on the next again bet and hope that one wins.
Progressive staking comes in a variety of different forms with fancy names such as the infamous martingale staking plan.
Martingale staking involves doubling your stake after a loss in order to cover your previous losses and make the profit you would have made if your first bet would have won.
Another popular progressive staking plan is Fibonacci staking.
The Fibonacci sequence works by adding the last two numbers in the sequence to get the next following number.
1, 1, 2, 3, 5, 8, 13 …etc.
By following this staking plan you will recover your losses on the previous bet you placed, but not the losses before that bet.
This is a slightly more sensible staking plan than the martingale, but, you would still have to be crazy to bet using that sort of staking plan.
The problem with progressive staking plans is that they are based on the assumption that long losing runs won’t occur.
This assumption obviously isn’t true and whilst progressive staking can work great in the short term, when you get on a losing run it can be a complete disaster.
Because progressive staking plans require you to increase your stake after a loss, after just a few losses you can be staking huge amounts of money just to cover your losses.
It can quickly get to the point where you are risking the rest of your entire bankroll on a bet, and if that bet loses you are bust.
There is absolutely no advantage to using any kind of weird staking plan if you are serious about making long term profits from your betting.
Just stick to placing value bets at level stakes at you will make a profit in the long run.
If you’re wondering how you can go about finding value bets, here’s some great tipsters who will send their selections straight to your inbox:
http://winnersodds.com/tipster-portfolio
Until next time,
Kenny Turnbull
