Bet a Percentage of a Profit Target Staking Plan

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Description

If you are familiar with Betting a Percentage of a Bank, the banking arrangement for this method is the reverse of that.
If we bet a % of a bank, as we hit winners, winnings are added to our bank so our bank increases, and our bet stakes increase.
Hit losers, and losses are deducted from the bank, so our bank goes down and bet stakes decease.

If we do the opposite of that and deduct winnings but add losses, our bank no longer matches the cash that we are winning or losing, but it becomes a Profit Target.
We set a profit target in the spreadsheet – – an amount that we would like to win from our betting.
We stake to win a percentage of that profit target with every bet.
If we hit a winner, we deduct those winnings from our profit target, as we now need to win a smaller amount to get to our profit.
The next bet is the same percentage of what remains to be won to reach our profit, but as the remaining target is now smaller, the bet is smaller.
If we hit a loser, we add that loss to our profit target.
What we still need to win to get to our profit is now bigger.
Our next bet after hitting that loser will be bigger as it is a percentage of a that bigger profit target.

Advantages of this method over the Bet a Percentage of a Bank method :-

  • After hitting a winner or winners, a losing bet should cause less financial damage as the bet stake will have gone down after the winnings were deducted from the profit target.

  • Recovery from a loss should be better than the Bet a % of a Bank method.
    After hitting a loser, the next bet stake will be bigger than the previous losing bet stake.

Disadvantages of this method compared with the Bet a Percentage of a Bank method :-

  • Losses may escalate if we hit a series of losers.

  • Profit from a series of winners will be less than the % of bank method, since our bet stakes will be reducing.

The spreadsheet allows us to reset the Profit Target at any time.
Resetting our profit target allows us to increase our bet stakes again if we get into profit and our bet stakes are reducing.