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Snake’s Eye Safety Betting Strategy

Even with the best tips, gambling on horse racing has the potential to send you broke. That’s why Snake’s Eye developed a betting formula that reduces the risk of losing your money while maximising your potential returns. We call it Snake’s Eye Safety Betting Strategy. Here’s how it works.

We start setting a deposit limit with the betting company we are using. It’s very important to make this limit the same amount that you are happy to lose. After all, betting companies don’t make money out of you making money. And they make a lot of money. So you should be prepared to lose whatever you deposit.

For this example, let’s say our limit is $100.

Once we have deposited our money we use it to calculate our stake on each tip you receive from Snake’s Eye. In this strategy, our stake will be 10% of our kitty. So for our first bet, our stake will be $10 (100 x 10%). After each bet, we adjust our stake accordingly. If our first bet lost, our next stake would decrease to $9 ((100-10) x 10%). If we won, we would increase our stake.

This ensures we won’t burn through our kitty if we hit a rough patch, but also makes the most of our hot streaks.

Playing with house money

Although we are prepared to lose our initial deposit, it’s not what we want to do. Ideally, we can withdraw those funds, which will prevent us from losing any money, and continue to play with the house’s money, ie our winnings minus our deposit. We make this happen by withdrawing our initial deposit once we have doubled it. Using the example above, we would withdraw $100, once our kitty reached $200.

If we are able to do this, even if we eventually bet away all of our remaining kitty, we still haven’t lost anything, and we still have funds ready for our next deposit.

Example

Initial Deposit $100

Bet #VenueRace #Horse NamePlaceTT+KittyStake
Bet #1Bowen6Rothero Essgee5th0 $  100.00 $    10.00
Bet #2Northam1Big Break5th $           –   $    90.00 $       9.00
Bet #3Northam5Cosmopolitan Girl1st $       4.80 $    81.00 $       8.10
Bet #4Belmont4Probity2nd $           –   $  111.78 $    11.18
Bet #5Gold Coast2Island Magic1st $       1.40 $  100.60 $    10.06
Bet #6Grafton1Orbital Speed4th $           –   $  104.63 $    10.46
Bet #7Hawkesbury6Highly Ambitious1st $       8.70 $    94.16 $       9.42
Bet #8Mildura1Bond Street Beau1st $       1.30 $  166.67 $    16.67
Bet #9Mildura4Only Need Time1st $       5.30 $  171.67 $    17.17
Bet #10Morphettville7Nana Dulce1st $       4.60 $  245.49 $    14.55
(adjusted after withdrawal)

Kitty has doubled, so withdraw the initial deposit ($100).

Bet #VenueRace #Horse NamePlaceTT+KittyStake
Bet #11Randwick4Toomuchtobear7th $           –  $  197.86
(house money)
 $    19.79
Bet #12Randwick9Arbitration4th $           –   $  178.08 $    17.81
Bet #13Toowoomba5Ravaged Award1st $       1.40 $  160.27 $    16.03
Bet #14Birdsville2Protostar1st $       1.50 $  166.68 $    16.67
Bet #15Devonport1Maarkle1st $       8.90 $  175.01 $    17.50
Bet #16Geelong1Mafiore1st $       3.00 $  313.27 $    31.33