Welcome to the User Guide for Shorties Staking Plan.
Whether you have the cloud version or the excel version you will find both are almost identical to use.
The workings of the staking plan are at the end of this PDF, it is important that you understand how it works.
Excel Version.
And Online Version further down the page.
On opening the excel you arrive at the Intro Page which has a little intro on the macro, and the spreadsheet.
Along the bottom is 6 Work Tabs, labelled ShortiesStaking 1 through to 6.
These work tabs are all identical and present you with a worksheet to run the staking plan.
This is the excel sheet on opening, you need to input only 3 things to start using the spreadsheet.
- Initial Bank: This is the amount you will use for the spreadsheet; default is 200, I suggest you use 50.00 to start to see how the staking works. 50.00 will give you are starting stake of 2.50.
- Commission: If you are using an exchange then put in the commission rate average you are charged. If using Australian Horses, I suggest using 8%
- Rounding By: This rounds the staking up to either .10, .50, 1.00 or if you are using an exchange, you can choose No Rounding, and you will get the exact staking.
Example for Australian Racing. Using Betfair. You will need a bot if using these settings as the bets will generally be under $5.00 minimum required using the betfair website. See our bot here: http://www.easybetbot.com
We are now ready to start our first bet.
Once we put in the odds, we can get for our selection the staking will appear.
You are advised to fill in the Horse/Dog/Team and Venue details so you can see what maybe working well and what is not, plus it important if you place bets on several spreadsheets and come back later to record the results.
First Bet:
In the betting section, one only compulsory input is the Price (odds) cell (Green), once you input that the stake will automatically appear.
This is the amount you bet on the horse/dog/event. Don’t worry you can always change the price it will not affect the staking. If after the race the odds, your input has changed simple change the price.
The columns Bet Profit/Loss, Square Off, Running P/L Operating Bank and Special Bank are all autofill. We will talk on this shortly.
Once the result is known you will in the Win/Lose column use the dropdown Menu to enter W or L in our example we will put W.
Now you can see the result and the summary stats in the Brown boxes.
No. Bets: Records how many bets have been made.
Total Bet Amount: How much money has been staked (bet).
Win Rate: This is our success strike rate.
Overall Profit: This is profit after commission.
ROI: Return on Investment as a percentage, in the above we have spent 2.50 to make 3.80, that is 152% return on our 2.50 out lay.
Let’s talk about the Blue Row.
Bet No. Each bet is numbered.
Horse/Dog/Event: Whilst not compulsory it is recommended you put the details is so you can recognise the bet when coming back to record the result, especially if you are running several different series, especially in sports betting.
Venue: Once again not compulsory but advisable same reasons as above.
Price (odds): You must enter a price in here to get the staking you need to bet on the selection. You can always change the price should you secure different odds that you first entered. Do this before entering the Result or W or L.
Win/Loss: Dropdown menu, simply put choose W or L was the bet a success yes then it is W anything else is L.
Bet Profit/Loss: This is the result of this bet, in our example it is a 3.80 Profit.
Square Off: If we make a profit over the bank (50.00) then the series will be squared off. And the square off amount is added to our Special Bank. In our example the square off is 3.80.
Running P/L: This is how much the work tab is winning or losing.
Operating Bank: This is the bank that the staking is worked from, it never goes above the Initial Bank in our example 50.00.
Special Bank: This is where our profits go, every time the profit passes the Initial Bank amount that profit is transferred to the Special Bank, it is never used in the staking it is locked in return to you. So, if the Special bank is at say 29.97 you are guaranteed that back.
Even if you lose the initial bank 50.00 you will get 29.97 saved, meaning your loss is 30.03 (50.00-29.97) = 30.03 lost.
The other Buttons.
The spreadsheet opens with 10 rows to start.
Add 10 Rows: Once you reach the end of 10 rows, you hit the Add 10 Rows button, to get another 10 rows.
Help: Takes you to the online help guide (this guide.)
Reset: Once you are finished with the work tab and want to start a fresh hit Reset. Caution all data in the work tab will be lost.
When leaving the spreadsheet at the end of the betting day.
Go to the X in the top right-hand corner of the excel sheet and hit that, you will get a pop up.
Click Yes and the spreadsheet will be saved.
You only need to reopen it the next time you want to use it and the previous activity is all there as you left it.
Before you do anything we strongly suggest you make a back up copy on the PC of the excel, as you can make multiple copies on the same PC the spreadsheet is licenced to.
There are protected cells and if you get a pop up saying you need a password, you don’t it is just that you have hit a protected cell.
Please watch the Tutorial Video for Excel.
The Cloud Version.
OK, if you read the excel version you will be 90% up to speed.
The online (cloud) version can be used on phone, iPad, PC and Mac.
You will need a login username and password. Which will be sent within 12 hours of payment usually a lot faster.
And the location of the Online software, included in the email with your login details.
OK, so you have now got them put the cloud location into your web browser:
And you get to this screen.
Then the home page appears.
To start you need to fill in:
- Name this will identify the session so make the name relevant like UK 29-11-2022 horses.
- Initial Bank: This is the amount set for use, we suggest 50.00.
- Commission: If using an exchange you will need to put this in so the results are more accurate. If using bookies or TAB leave as zero.
- If you can not bet odd amounts like 2.68, then use rounding to the unit like .10cent/pence, or .50 or 1.00
- Once set hit submit and you will be taken to the new session.
Once open you go to Bet 1. And fill in the Home/Dog/Event with your selection, move to Venue and enter those details.
And then the price (odds) you can get in this case we have 2.65 (you can change it later, it does not affect the stake you need to place.)
In the Blue box is Stake this is the amount you place on the selection. In this case it is 2.50 so we are putting 2.50 on Phar Lap at 2.65.
Once the result is known we put Win or Lose and the columns on the right will auto fill with the results.
Bet Profit/Loss: This is the result of this bet, in our example it is a 3.80 Profit.
Square Off: If we make a profit over the bank (50.00) then the series will be squared off. And the square off amount is added to our Special Bank. In our example the square off is 3.80
Running P/L: This is how much the work tab is winning or losing.
Operating Bank: This is the bank that the staking is worked from, it never goes above the Initial Bank in our example 50.00.
Special Bank: This is where our profits go, every time the profit passes the Initial Bank amount that profit is transferred to the Special Bank, it is never used in the staking it is locked in return to you. So, if the Special bank is at say 29.97 you are guaranteed that back. Even if you lose the initial bank 50.00 you will get 29.97 saved, meaning your loss is 30.03 (50.00-29.97) = 30.03 lost.
Now you can see the result and the summary stats in the Brown boxes.
No. Bets: Records how many bets have been made.
Total Bet Amount: How much money has been staked (bet).
Win Rate: This is our success strike rate.
Overall Profit: This is profit after commission.
ROI: Return on Investment as a percentage, in the above we have spent 2.50 to make 3.80, that is 152% return on our 2.50 out lay.
Bet 1 is finished and we can go to the next bet and repeat the process.
When we are finished with a session, we have two choices, we can reset, to clear all bets, you get the below warning.
Or we can hit the Home Button.
And you will see all the saved sessions we have plus the option to start a new one.
You can also export the session with the Export to csv button.
You can see we have 3 active sessions we can resume any of them at any time, or we can delete them.
At the top we have two buttons.
Sign Out: We can close the web page.
How it Works: Takes you to the user guide and video tutorials
The link to the Cloud Tutorial is below.
If you have not got a Betfair betting bot that will allow you to bet under the Betfair minimum odds have a look at our Easy Bet Bot and Easy Bet Bot Deluxe.
Click Here or cut and paste www.easybetbot.com (both are there.)
It is very handy for sorting the odds order on horses in the place market.
See below.
How the Staking Plan Works.
It is important that you understand the principle of the Shorties Staking Plan.
Why?
Because of the structure, there are times when you may want to take the profit and leave, and restart.
Shorties Staking Plan.
This method was originally set up for place betting, however it is very successful in all short odds selection methods that has a reasonable strike rate.
There are Two sections to the staking plan.
If you like the Action Part that is over 7 bets, this is reduced if squared on a profit and money transferred to Special Bank. If so then it restarts the 7 bets Action Part.
And the Recovery Part, this only happens after 7 bets in the action part have failed to climb above the initial bank.
The only purpose of the Recovery part is to get the initial bank back up to starting amount, then this occurs, the square off occurs and the Action Part of the staking plan restarts.
The 7 bets of Action Part may occur by one or two selections per race day or meeting, you don’t have to do all in one day, as you can continue when you wish. Same is also true for the recovery part.
How it works.
1. To find the bet divide race divisor into the bank at hand, if the bet wins, that is, the bank is in front on the initial bank, we square off. And transfer surplus funds to the Special bank.
2. If the bet is a loser, deduct the losing bet from the bank and divide by the next divisor (chart below). This action is used in both the Action Part and Recovery Part, with the that in the Recovery part the recovery of the full bank is the only reason that we square off.
Action Part (The workings).
Recovery Part (The workings.)
After 7 bets where we have not squared off.
3. Wins (profit) from each run is NOT added to the operating bank, profits are set aside in a special bank to be able to start again should the original operating bank be wiped out.
Let’s see it in action.
The Purple is where the Recovery Part kicked in, and that is when you really need to say at some point, do I stay or walk away and take the money that is there. Stopping at bet 11 would have still given you 17.70 profit.
Or Bet 12 would have given you 55.57 profit.
As we have designed this for short odds, we don’t see you going into recovery mode very often.
Your selections drive this and it is designed to return better returns than level staking.
Below shows how poorly the selections we in the last Series that needed the recover.
The cloud or spreadsheet does all the staking for you, but now you make the judgement of if you should stay in the sequence or cut with a small profit or loss.
If you have this pdf and don’t have Shorties Staking Plan Click Here
Download the User Guide PDF Click Here
Thanks for your support.
Steve and Michael
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