Good Stakes For A Bet
- in Betting by Lucy
This means betting with a set percentage of your bank, in such a way that your stakes grow gradually as your bank balance rises. For a low-risk system (e.g. Betting at short prices), 5% is an acceptable figure. For higher risk methods, you may wish to consider 3%, or even 2%.
Welcome to lesson 4 in my Back to Basics Betting Class!
- I spent a good part of my early betting days making across-the-board bets, especially when I landed on a longshot, and there is something to be said for being rewarded when a bomb clunks up or hangs on for a minor spot, but in general I’ve come around to betting almost exclusively straight win bets when I’m not playing exotic bets.
- Losing the bet is the punishment for losing the bet. When the bet is made, the stakes are agreed on - whether its money changing hands, or sexual stakes between a couple, or doing a chore for siblings. It can be different for each person (If I win you do this, if you win I do that). The bet is then in effect when both have agreed to the stakes.
- In fixed-limit games, the size of bets and raises is determined by the specified stakes. For example, in $3/$6 fixed limit Hold 'em, during the first two betting rounds (preflop and flop) the big blind is $3, the opening bet after the flop must be for $3 and all raises must be for $3.
- I think that the best strategy in betting is to be very good informed about a game, place a single bet on your bet slip with a good stake. For example betting 1000 euros on a good game you can make 300-400 euros, it is kinda risky but if you can image that you can bet.
If there is one simple thing you can do to get better at betting, it’s to use a robust staking plan. There is no glamour to it, and very few systems providers explain it properly (except occasionally to go a bit mystical about Fibonacci or something similar!). But in my experience, good staking is the bedrock of successful betting. Do it right, and you’re already halfway there. Do it wrong, and you are almost certain to haemorrhage money.
Here then are the rules that I personally follow. There are other approaches but I don’t believe you can go far wrong with these four ideas.
1. When you’re trying out a new system, please use level staking only. Any decent system can benefit from a good staking plan, but until you’ve proven it’s a decent system, you should be using level stakes. Otherwise the staking plan will distort your results (for better or worse), and cloud the issue (which should simply be – ‘is this system any good?’).
2. There is one exception to rule 1. I will allow myself to adopt a level liability approach for laying systems that permit high prices (i.e. laying to SP), but only as a risk mitigation strategy (which is a fancy way of admitting to cowardice).
Like the bookies, I’m scared to death of the Foinavon effect (i.e. getting torched by some runaway longshot), but unlike them, I am unable to persuade mug punters to take lousy odds from me on rank outsiders. So SP laying it sometimes has to be. But even then, you should keep records of what would have happened if you’d used level stakes.
I have switched to using Chris’s wonderful new spreadsheet to test ZeroHype’s Laying service, precisely because it allows us to track to both fixed liabilities and fixed stakes.
3. Once you have a great system, use ratcheted staking. This means betting with a set percentage of your bank, in such a way that your stakes grow gradually as your bank balance rises. For a low-risk system (e.g. betting at short prices), 5% is an acceptable figure. For higher risk methods, you may wish to consider 3%, or even 2%.
The most important points though are that the chosen percentage should:
- “feel right” – i.e. you don’t get too down if you lose, because you know you have a winning system that will come right in the end
- be a figure you decide on in the morning then stick to all day. Don’t try working it out on the fly as you’ll only get confused.
Ratcheted staking also protects your bank balance if you start to lose, by making it last longer. A 5% ratcheted stake might sound a lot, but it lasts a lot longer than the 20 bets that first come to mind. In fact, after 50 straight losing bets on a £100 bank, you would still have a little money left (£7.69, assuming 1 bet per day). Such is the joy of exponential mathematics! (do I need to get out more!?)
You may be tempted, during a dry spell, to keep on going with the same stakes (a flat £5, in my example) in order to accelerate a recovery, but this is seriously flawed thinking. Be professional and stick to your percentage. If you have a sound system, then it will only be a matter of time before things improve, and your bank starts to climb again.
And of course when you do start to make progress, ratcheting benefits from the miracle of exponential mathematics when going upwards too, so that the results can be extraordinary. I digress slightly, but I love the old ‘wheat on the chessboard problem’, which, paraphrasing Wikipedia, illustrates this point quite wonderfully:
- When the creator of the game of chess showed his invention to the ruler of the country, the ruler was so pleased that he gave the inventor the right to name his prize for the invention. The man, who was very wise, asked the king this: that for the first square of the chess board, he would receive one grain of wheat, two for the second one, four on the third one, and so forth, doubling the amount each time. The ruler, arithmetically unaware, quickly accepted the inventor’s offer, even getting offended by his perceived notion that the inventor was asking for such a low price, and ordered the treasurer to count and hand over the wheat to the inventor. However, when the treasurer took more than a week to calculate the amount of wheat, the ruler asked him for a reason for his tardiness. The treasurer then gave him the result of the calculation, and explained that it would be impossible to give the inventor the reward. The ruler then, to get back at the inventor who tried to outsmart him, cut off the inventor’s head to discourage such trickery!
- On the entire chessboard there would be 264 − 1 = 18,446,744,073,709,551,615 grains of rice, weighing 461,168,602,000 metric tons, which would be a heap of rice larger than Mount Everest. This is around 1,000 times the global production of rice in 2010 (464,000,000 metric tons).
Nowadays of course, you are more likely to find that your account is simply closed by your bookie without the need for decapitation, but it is still a problem that a sensible staking plan can easily leave you with… so do look at my article on eight ways to stop your bookie from closing you down.
4. Never chase losses. It really is the fastest way to the poor house. Everyone knows this deep down, but somehow it’s easy to forget when things are going against you.
Why do so many people do it? Because they keep losing, and they want a quick way out, that’s why. Hence the popularity of systems like Fancy Fillies, which has a cute name, but is little more than a well-packaged, loss-chasing plan.
I ditched the Fancy Fillies system after a handful of bets on account of its suicidal approach to staking. This sort of stuff should be avoided at all costs.
And of course, if you really want to play Russian roulette, there’s always Martingale…
And that’s all there is to it!
Lucy x
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Ladies and gentlemen, place your bets!
Are you looking for fun punishment ideas to wager for losing a challenge with your sweetheart? Let’s place a bet!
This guide will give you lots of cute and fun ways to break a tie with your sweetheart.
We will use the word “date” to refer to any kind of significant other like your spouse, boyfriend/girlfriend, or even a first date.
These suggestions are the seed of an idea and the rest is up to you. Use these activities to strengthen your relationship and help you get to know your date on a much deeper level.
Ready? Let’s go!
22. Let’s cash in the quarter jar
Make a conscious effort to throw quarters in the piggy bank. It’s a great way to save loose change.
Now, who gets to raid the quarter jar? You do!
As the winner, you get to put some money back into your wallet for the day or week. Swap your change for dollar bills at the bank to make life easier.
21. Who makes dinner tonight?
Get out the cookbook and online recipes. The winner of this bet gets to sit back and relax while the loser plans and cooks all meals for the day or week. Spice it up by trying dishes new to you or your date.
As the winner, you’ll enjoy your favorite foods made by your date. Pique interest by suggesting a quirky or unusual food item.
20. Wear a team jersey/cap for a day
The loser of the bet wears their date’s favorite team jersey or cap around town for a day. This gets even more interesting if your favorite teams are rivals!
Not really into sports? No problem. The winner gets their favorite t-shirt from an activity or club they belong to.
19. Sit back, relax your shoulders or feet for a massage
At the end of a long day, a gentle shoulder massage or foot rub is just what you need
If you lose the bet, warm up your magic hands and help your date relax. Add quiet music and dim the lights for a calming effect.
Don’t forget to make your date feel great too. They won the bet after all.
18. Chauffeur service for a day
Ah, errand day. Your date, who just lost the bet, has the pleasure of driving you around town as you take care of your to-do list.
And what do you get to do? You sit back, relax, and enjoy the scenery. You could get some coffee. Let them handle traffic and you take over the Aux cord in the car. Be the DJ and entertain.
17. Go to a local sporting event of your choice
The winner chooses everything, and the loser of the bet gets to be the fan for a day.
This is fun, even if both of you aren’t very much into sports. Figure out the rules, say “Hi,” to the mascot, and cheer for the home team.
16. Get a cheap, funny gift to make them laugh
They say laughter is the best medicine. The loser of the bet buys or makes a funny gift or a goofy little prize for their date.
Dig into your date’s sense of humor. Think of a joke they’ve made, their hobbies, or other ideas to tickle their funny bone. Be creative here.
15. Choose the vacation destination
Couples often disagree on where to take the next vacation. The winner gets to settle this argument by getting the first pick of the destination.
So will you choose a favorite place you’ve been to before, or try somewhere new?
Read next: 14 Game Changing Bucket List Ideas for Couples
14. Donate something to charity
Regardless of the winner, the outcome of this bet is an act of generosity.
The couple chooses an amount of money to donate, either jointly or separately. The winner gets to choose the charity or a cause their money goes to.
It can be clothes too. Donate clothes and shoes you no longer wear.
13. Remote control
The winner has the remote control all night! Yeah!
Fun Bets Stakes
Put the remote control up-for-grabs for a night or even up to a week. Romantic comedies, reality TV, and sporting events are all on the table.
Could you or your date find a new favorite show to binge-watch together? Let’s find out! Stay curious and open-minded. Allow yourself to have fun every step of the way. Make it a bonding process.
12. Make breakfast
When you’re not a morning person, making breakfast can take forever. Winning this bet means you’re off the hook for a little while.
Have your date make or bring you breakfast in bed for a few days. Sleep in a few more minutes.
11. Splurge on dessert
The loser of the bet buys or makes the winner some delicious dessert. The winner can make the presentation part of the fun with fancy table decorations, a little candlelight, and music.
Ask for what you would like to have. Anything is possible. Keep dreaming big. Get lost in the fantasy of it all.
10. Mystery date
The winner gets to go on a mystery date and he or she has no say in the destination. The loser plans and leads the date from beginning to end.
Creativity and adventure can make this date a memorable experience.
9. Swap hobbies
The winner teaches their date one of their favorite hobbies. No judging, you never know, you might discover something new and interesting. Besides, having shared hobbies that you can do together can make your relationship stronger.
Your date may also surprise you with the things they know. Having shared hobbies that you can to
8. Attend a live event together
You and your date each choose a live event you’d love to attend. The winner gets the first choice and both of you go together.
Even if the loser of the bet doesn’t like the event choice, it’s an opportunity for laughs and making sweet memories that will last a lifetime.
7. Sing karaoke
The winner will enjoy a fabulous night of karaoke starring their date.
Yup, you heard that right. The loser of the bet gets to choose a good karaoke tune and have an awesome time. Double the fun, select your favorite all-time playlist, and get up there.
Dance all night, loosen up, and have fun.
6. Make their favorite beverage
What can I offer you?
The winner will enjoy a special favorite beverage, either made or bought by the loser of the bet. Crack out a drink recipe book for added fun, and don’t forget about non-alcoholic options.
5. Workout of choice
Ever done yoga, spinning, or maybe kickboxing?
If you lose the bet, your date will teach you how to do their workout of choice. Embrace the student role and let your date lead the way. Enjoy every moment.
4. Your pick the movie on movie night
Do you feel you spend as much time choosing the movie as you do watching it? If you win the bet, the choice is all yours.
That rom-com or war movie is first on the list tonight. Or maybe it’s a chick-flick type of night.
3. Do the coffee run
Whoever loses the bet is the coffee runner for the day.
If you lost the bet, make it special by adding a surprise to the order. Ask the barista what they’d recommend. Ask about your date’s favorite drink.
2. Pick the restaurant
This bet is a simple but fun way to solve the age-old disagreement; where are we going to eat? Winner has their choice of restaurants with no protests allowed from their partner.
Good Stakes For A Bet Belmont Stakes
As the winner, be adventurous and try a brand new restaurant instead of the same place you always go.
1. Get or make a meal-to-go
Make a meal-to-go for your date. Grab a quick bite from a food truck or carry-out restaurant. Schedule an impromptu lunch date.
Even if you lose the bet, you win an amazing time together.
Fun Bet Ideas – Where Do You Take Them?
It’s true – couples who laugh together stay together.
The wagers described above are all done for fun. They’re not meant to humiliate or trash anyone. Every idea here is meant to be a fun and positive experience. So breathe and stay open-minded.
Many of these bet ideas are better suited to long-term couples, the couple who know some things about each other, especially those that live together.
Getting your competitive streak going can add a spark to any ordinary activity. Just set a financial goal. Explore and observe.
This is also fun for couples who are just starting to get to know each other. Each idea can be expanded or turned into a manifestation. Imagine life with your spouse as you’d dream for it to be.
Keep in mind, being the loser of the bet is not a loss. It’s fun. Trust the process and dream big.
By focusing on fun and big goals (don’t forget your hard-earned pennies), both individuals are winners. This draws you both together. Look at the bigger picture. Observe everything; ask yourself, where could I improve my relationship?
Good Stakes For A Bet Winning
Ok, now you know some cute and funny ways to break a tie or end a silly argument. Let your creativity lead the way. And your curiosity, too. What other bets will you both try? Add to the list by commenting below more fun bet ideas.