Recording Bets with The Staking Machine

In the last 3 articles we have been laying the foundation for ongoing betting success and we are now at the point where we can start to get ourselves up and running with The Staking Machine.

I have produced a video showing how easy it is to record your bets using The Staking Machine – I have used the Web App to demonstrate this in the video, but there is also a software version available for free trial download you can use to familiarise yourself with.

Both the Web App and the TSM software have a very similar interface.

I have included some screenshots at the end of the article for you to take a look at as well if you can’t view the video for whatever reason.

In the video you can see me inputting bets from the BVSystemBets tipster account. The starting bank was £100 and the stake is set at 2%, or £2.00.

Note on the left hand side of the video the list of staking plans for backing. I am using the Bookie Bank staking plan in the example – but also flick to Level Stakes to show you how easy it is.

If you can show a profit at level stakes, then the Bookie Bank staking plan is a more profitable one to use. Stakes are marginally higher as you can see, but never get very large – however 1 good winner and it goes back to the default £2.00 and starts again.

I guess you could say this is ‘loss recovery’ using the Bookies Bank staking plan to an extent, but only very minutely as I have demonstrated in the video that the stakes are only a few pence higher with each losing bet.

There is a more comprehensive video coming next week. In that we will be looking at a lot of the features included in TSM. The graphing, the different staking plans, the reporting, and the vital betting statistics we need to now.

By next week I will have all the BVSystemBets in TSM and we will be working with a full and current data set.

Note however, that already we are starting to see some interesting information come through. So far I have input 144 bets from the record, recording 28 winners for a strike rate of 19.4%.

Average bet odds are 8.65 and average win odds are 7.05, so around 6/1 at this point (and I haven’t finished inputting the data yet).

At this odds so far it is reporting I need to achieve a 14.2% strike rate to break even, which is an interesting stat.

It’s also predicting an ELS (estimated losing streak) of 23 at this point, which makes planning my betting bank easier knowing that. The longest losing sequence at this point is showing as 22 bets in a row, and the longest winning sequence is showing as 2 bets in a row.

Remember, we are only working with half a data set right now, but the insights being gained after 144 bets is indeed interesting and we can start to use this information to form knowledgeable conclusions about the future trend and performance.

Note the mini graph in the video, to the right of the screen. This is showing us the betting bank growth to date and is a useful visual clue. It also provides information regarding whether or not you are bankrupt, and at what bet number this occurred.

Note the betting plans to the left. Switching between plans to perform ‘what-if’ analysis is easy to do, and provides a great insight into what staking plan is more profitable. There is an analysis section in TSM we will be looking at in a later video which provides more useful information regarding this aspect also.

Using TSM to manage your bets, and gain insights into your betting, is a major step towards becoming more professional in your approach. Over the course of a year the subscription for the web app is just £40, that’s 77 pence a week!

I have yet to find a better way to manage and report on betting activities. There are plenty of spreadsheets around that handle some of the recording aspects, but very few with the level of reporting that The Staking Machine has to offer. In fact, I would venture to say that TSM is the best software of its type available.

It just adds a whole new dimension to your betting. It takes the guesswork out of it, and provides real and true insights – if you’re doing well, then you can see the progress you’ve made. If you are underperforming on your selections, then you can see to what degree and what you need to do to rectify it.

TSM also helps to take the compulsion out of betting. You are viewing your bets as an investment that should hopefully yield a return over time. To see it in black and white makes it all more real – unless of course you don’t want to see reality, in which case even this software won’t help you there if your selection system is at fault, but it will point that out to you hopefully in time to do something positive to rectify that.

Next week we will do a deep dive into more of the TSM features and how they can help to make you a better, more informed punter.

However, and I will stress this again, TSM will not help you make better selections, but it will tell you if the selections you are making are rubbish basically and provide you with an opportunity to realise that quickly before too much damage is done to your betting bank.

Parting words of wisdom… There’s no such thing as luck! Luck is simply what happens as a result of opportunity meeting preparedness!

Until next week…. BV.