Introducing the lazy punters guide to sound money management

Good money management is something I bring ^up again and again. And now there’s a package on the market called the Ultimate Betting System which could help you to maximise your betting bank.

At first glimpse this is a professionally put together package, with all angles covered, and with the novice bettor very much at heart. The focus is predominantly on the staking plan rather than the selection systems, although a selection method, albeit simple to follow and with favourable results is included.

The package consists of a comprehensive user guide, video tutorials and the actual software package. Does it provide good value for money and a workable system? Does it live up to the promises and are the testimonials believable?

Personally, I get a good vibe from the creator, Phil Moulds. He claims to know nothing about horse racing, but plenty about profiting from it! I believe he is a man of integrity who really has covered all of the angles

As to the software – once uploaded, the software is very effective and comprises of:

•    The staking plan – chose from a profit target per day (% of betting bank), straight profit target per day, profit target per race, and profit target per cycle. (We came across this term cycle when looking at progressive staking). It also includes a stop loss where you can enter the amount you are willing to lose on any particular day – again discipline!

•    Bookies list – provides a list of bookmakers and current concessions

•    Balance sheet – keep a profit/loss – good record keeping

•   Odds calculator – converts decimals (betting exchange norm prices) into industry standard fractionals (e.g. 6/4)

•    Live page which automatically brings up the racing post website

•    Results page which is automatically linked into www.sportinglife.com

•    Tipsters -I have been unable to verify the efficacy of these tipsters, and suspect they are there to earn the system creator some additional affiliate income

•    Systems – again see above, some selected systems to earn the creator some more money. I wouldn’t recommend The Football Cash Generator. The Professional Gambling System package is good and

I have some favourable reports from a reader trialing the BOSS Soccer Strategy.

•   All of the other aspects of the software can be lumped together under the heading “resource/help”

It is the staking plan, “cycle” aspect of the software that is its key, and is something close to my own thinking: money management is the key to success – even more than the selection strategy, because if you can at least get the occasional winner and protect your betting bank against the losers, then you will be ‘in play’ for another day.

Profit Target Per Day: The software allows you to set a predetermined profit target per day, depending on your betting bank size and selection criteria. This method instills discipline and a ‘stop at a winner’ approach. If you don’t reach your intended target for that day, the software will carry it over to the next.

Profit Target Per Day (% of betting bank): This is where we can look for our 2%, or higher, compounded profits, by setting this as our target for the day. Once reached we have the discipline to stop. The HTB system selections I have made, as well as my use of dutching, has enabled me to set a target profit to earn, and stop once it is earned. Please don’t lose sight if you use this method of the relative small daily gains. As long as they are consistently produced, compounding will take hold, and it’ll be like pushing a small snowball down a long hill.

Profit Target Per Race: This is an interesting alternative if you’re able to follow the live racing. Set a profit target per race and carry on through your preselected races. There is an element of progression to this particular strategy, so those of you familiar with previous articles will know that progressive staking is highly aggressive and very much a risk/reward plan.

Profit Target Per Cycle: I sense the system creator has included this element in for completeness sake. It is the standard progressive staking (or loss chasing!) strategy. It’s the most aggressive plan and most likely to result in huge stakes if you are unable to match up with a consistent selection strategy.

Do you need this software? Well, in a word no – I’ll qualify this by saying that you can do all of the calculations yourself with a calculator. You can keep records yourself with a tool such as excel or the low tech version (pen and paper). You can access the Sporting Life and Racing Post websites for free – 2 of the sections of the Ultimate Betting System are devoted solely to flogging you other systems and creating a further income stream for the system creator.

The software package falls short in the selection systems. Marry good selection with good money management and you will win. Only one selection system is covered in the package. It is a simple system to use and incorporates elements of my HTB points system. You can tell that the author is a relative novice to racing but he doesn’t claim to be a “Paul Howell svengali” promising you squillions a day, or your money back!

This truly would have been a superb product with a few more coherent and useable betting systems to compliment the money management aspect. That said, I believe that the Ultimate Betting System software offers the convenience of doing all calculations for you, has all resources in the one place and above all, it will make you money because it actually incorporates the DISCIPLINE and PATIENCE required to make horse racing work for you.

If you have a good foundation of selection systems (and remember these need not be solely for horse racing), then use the software’s money management plans. Pick the one which is most suitable for you and your financial goals. The % of betting bank is my weapon of choice as it utilises the power of compound interest to the max and you will succeed – and if you set a predetermined stop loss, you can leave a bad day as just that, a bad day without turning it into a “ call the Samaritans I’ve just blown my betting bank” day!

For more information go to www.ultimatebettingsystem.com/wrw . Normal price £97.

The good news is there’s a 25% discount for WRWM readers but only between 1st May and 31st May 2006.