Hi,
I have an example of a split stake bet using the Platinum Plan in the FIC Workbook.
Let’s look at it step by step:
- You enter your total bank figure for the day (this should move upward each day, unless there is a recovery afoot)
- You enter the point split (100pts recommended for beginning)
- You enter your target (2.5% of capital recommended)
- Fill in the date, race time, selection name etc.
- Establish the odds of the selection and if the Place odds are around 1.9 you will split the stake.
- The split stake is with 4pts and you place 1pt on the Win element and 3pts on the Place element of the bet (separate bets on Betfair)
- Enter the amount of stake in the two columns
- Enter the odds for the Win or the Place
- When the result is known, calculate the returns
- Your profit is the return minus the stake
Now in the example here, we have a £250 start bank split into 100pts of £2.50 value.
Our target is 2.5% of start capital or £6.25
The first bet has Place odds of 2.75 so we are looking to make a split stake bet.
Enter the value of 1pt into the Win column and the value of 3pts into the Place column.
In this instance the selection did not win the race but did Place.
Therefore our return is the odds (2.75) x the stake (7.50) and equals £20.55
Our Total Stake was £10 (4pts).
Therefore our return was £10.55 or about 4% and nicely over target.
Any questions, do let me know.
