In some quarters it is widely accepted that fixed profit betting is better value than level stakes betting. Again this is a matter of personal opinion. With level stakes betting, you are keeping your accounting on the ‘spend’ side of your book ‘fixed’ by sticking to one bet size to suit all. The upside here is that you can control your expenditure and can easily analyse your bank. The down side on the other hand, is that you are limiting the ‘income’ side of your book in direct proportion to the odds available on the bet ie, a 2/1 (3.00) shot will return far less than say a 7/2 (4.50) shot using the same stake amount.
With fixed profit betting, you basically work in the opposite way, in that the ‘spend’ side of your book becomes ‘flexible’ whilst the ‘income’ side of your book will be ‘fixed’. In other words, your bet size will change in direct proportion to the odds on offer, with the aim of achieving a pre-determined profit. A consequence of this type of betting is that the longer the odds become, the smaller the stake becomes conversely, the shorter the odds become the larger the stake becomes. Using this system therefore, it is advisable not to bet odds on.
With fixed profit betting, you are aiming to achieve a pre-determined profit target with each bet. It means that long odds require small stakes however; very short odds can require very large stakes. It is therefore advised especially in this system not to bet when odds are less than 6/4 (2.50).
• say you set your profit target per race at £40
• odds given for the horse are 4/1 (5.00)
• your stake would be £40 divided by 4 = £10
• therefore, £10 x 5 = £50
• Minus your stake = £40.
However if you had odds say 1.7
• 40 divided by 0.7 = £57
• your stake would have to be £57 to return £40 (not a good idea for odds on betting)
In TSM there are several options. The Fixed Staking Plan allows you to set a target relative to your start bank. It also allows for this to change relative to your cumulative start bank by way of telling TSM when the last bet of the day is by using the last bet filter. See help manual for details.