There are dozens of different methods to choose from.  A warning; the novice punter will often have a lot of confidence in their selection methods and will adopt a cumulative Betting Strategy.  By cumulative, I mean he will “Double Up” after a losing bet in an attempt to recoup any losses to date.  This is a sure road to financial ruin as a long series of “outs” (which will happen with any selection method) will break the bank.  For example, $10 bet that is doubled to $20 after a loss, then to $40 after another loss and so on, will require a $5,120 bet on the 10^th selection (i.e. after nine successive losses).  This is a simply unrealistic scenario.

Here is a very simple Betting Strategy “Level Stakes Betting":

Again, this is a method that pays homage to the KISS principle.  The rules are as follows:

• Establish an initial bank.
• Bet 5% of the bank on each of your selections (for example if your initial bank was $100, you would bet $5, if your bank was $1,000, you would bet $50).
• As your bank increases in size, maintain the 5% rule (e.g if your bank started at $1,000  and has now grown to $1,200, your bet would be $60).
• Once your bank has doubled, take 50% of the gain and “pay yourself” (e.g, you bank has doubled to $2,000, take 50% of the gain being $500, leaving $1,500 as your new starting bank.  Keep repeating this exercise into the future).  These withdrawals represent clear profits that will never again be risked.
  
  

The beauty of this very simple strategy is that it will withstand a long series of outs.  Having said that, if you have a selection method that only pops up the occasional winner, then clearly you run the risk of losing your bank.  Hence the writers overall view that a solid, soundly based selection strategy COMBINED with a sound, sensible Betting Strategy holds the key.