May 29, 2004 at 13:59 #1451zilzalParticipant
- Total Posts 669
I read about this staking plan in David Duncan’s rather slim betting book. When I applied the system to my placepot selections, I came out quite well as Ãƒâ€šÃ‚Â winners and losers seem to come in clusters. Does anyone know if serious pros use this system to their advantage Ãƒâ€šÃ‚Â ?May 30, 2004 at 11:52 #53549MrEParticipant
- Total Posts 2149
Hi Zil….. I think that from the response we must assume that nobody knows of this staking plan…. I know I’ve never heard of it…. that doesn’t mean much though, Matron and Urby have only just let me out of solitary…. Jeeeez, I dont mind the dark but I wasn’t to pleased with Matron and old Urby taking turns to slap me with that soft floppy rubber truncheon…… mmmmm….. I think it was rubber…. but definitely something small and soft…. I’ll ask ’em to switch the lights on next time….. yeah, very queer….. Ãƒâ€šÃ‚Â :biggrin: :biggrin: :biggrin: <br>OK, tell us what this staking plan is then Zil, then we can give you our opinions…… hehehe……
MrE<br>May 30, 2004 at 22:57 #53553Urban DaveMember
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Here’s an explanation I found copied pretty much word for word from some Vegas gambling website I found:
"The Labouchere begins with a series of numbers – any you want to use, with each number representing the chip amount you’re going to risk. Let’s say you start with 1-2-3-4-5-6. The size of your wager will always be the sum of two outside numbers. When a bet is won, the two outside numbers are cancelled out, thus making their neighbors the outside numbers.
Using the above example, your first wager would be Ãƒâ€šÃ‚Â£7 (the sum of 1 and 6). If that wager wins, those numbers are crossed out so your next wager would be Ãƒâ€šÃ‚Â£7 (the sume of 2 and 5). If you should lose at any time, the amount of your loss is placed at the end of your numbers so it becomes an outside number. In the previous example, say you won your first wager (6+1) but lost your second wager (5+2). You would now have a sequence that looks like this X-X-3-4-X-X-7. Your next wager would be 3+7 or Ãƒâ€šÃ‚Â£10. When all the numbers are crossed (cancelled) off, the sequence is over.
An unlucky streak of losses could send your add-on numbers soaring and, if you don’t reach the house limit first, you’ll probably reach you’re wallet’s limit.
Naturally, somebody would think of this – and when they did, they called it the Reverse Labouchere. Here, instead of adding the amount of your lost wager to the series, you add the amount of your winning series and cross off the two outside number each time you lose.
Wouldn’t it be nice to reach the house limit on a winning streak? The problem is, you’ll need those higher limits to offset some of the losses accumulated along the way."May 31, 2004 at 11:18 #53554dave jayMember
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It’ a load of rubbish. If you tie it into a total points bank it works the same way as a Stakes Stepper where your stakes increase when you lose and reduce as you win and then start again when you have achieved a level stakes profit. As Urban pointed, the stakes will get out of control and unrecoverable after a few losing bets.<br>May 31, 2004 at 13:15 #53555MrEParticipant
- Total Posts 2149
Cheers Urby and Dave…. I’m rather pleased you said it was crap, I would hate using a staking plan that I couldn’t even pronounce……. Ãƒâ€šÃ‚Â :biggrin: :biggrin:
MrEMay 31, 2004 at 15:21 #53558zilzalParticipant
- Total Posts 669
Apologies MrE for not getting back as I’ve been busy. Don’t close your mind to this staking plan. Have a good look at it in Duncan’s Ãƒâ€šÃ‚Â "Winning Horse Racing Formulae" in your book store and apply it to your past bets. If the quality of your bets value-wise is good, the winning streaks can easily outweigh your losing runs. It is a fairly conservative staking plan.May 31, 2004 at 19:09 #53559JARMember
- Total Posts 188
I prefer to keep it simple and safe and just bet 4% of my current bank on each wager. However I often change my mind. :biggrin:
If I remember correctly, with this plan after a run of consecutive wins profit builds up rapidly but equally rapidly it will evaporate on a run of losing bets. So you have to have a predetermined point at which the plan stops and then you take your profit.
I don’t like a plan where at some undetermined point you have to decide when to pull up stakes. No brainer 4% or 5% of the bank staking is easier and then I can just concentrate on the selections. :)
(Edited by JAR at 8:23 pm on May 31, 2004)
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