{"id":16051,"date":"2023-10-13T16:43:52","date_gmt":"2023-10-13T05:43:52","guid":{"rendered":"https:\/\/www.betfair.com.au\/hub\/?p=16051"},"modified":"2024-11-15T16:25:42","modified_gmt":"2024-11-15T05:25:42","slug":"setting-a-deposit-limit","status":"publish","type":"post","link":"https:\/\/www.betfair.com.au\/hub\/education\/setting-a-deposit-limit\/","title":{"rendered":"SETTING A DEPOSIT LIMIT"},"content":{"rendered":"
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Deposit Limits <\/h2>\n <\/div>\n <\/div>\n \n \n \n \n \n
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Deposit limits allow you to limit the amount of money you can deposit into your Betfair account daily, weekly or monthly. The limit restricts the amount of money entering your account before you start gambling, stopping you from losing more than planned. An effective use of this is to budget a set percentage of your disposable income for entertainment purposes.<\/p>\n\n <\/div>\n <\/div>\n \n \n \n

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Set a Deposit Limit <\/h2>\n <\/div>\n <\/div>\n \n \n \n \n \n
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Setting a deposit limit is easy. If you are creating an account for the first time with Betfair, you can select a limit on the new account registration form. For current accounts, head to the \u2018My Account\u2019 section, click \u2018Player Protection\u2019 then \u2018Deposit Limits\u2019, and set your limit.\u00a0<\/span><\/p>\n\n <\/div>\n <\/div>\n \n \n \n

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Stake According to Deposit Limit <\/h2>\n <\/div>\n <\/div>\n \n \n \n \n \n
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Setting a staking plan that suits your deposit limit is important. If you have a $100 limit for the week, develop a plan and stake it accordingly. If you are more confident in two horses winning over the weekend and think four other horses in other races have good chances or are over the odds, stake like so: $40 on the two horses we are confident will win and then $5 each on the other four horses we think have a good shot or are good value. This way, we have a plan to stick to the limit that we set earlier and invest our money in the horses we rate most highly.<\/p>\n

For those wanting to do more research on developing a staking strategy, it\u2019s worth reading about \u2018unit betting\u2019 and the \u2018Kelly criterion\u2019.<\/p>\n\n <\/div>\n <\/div>\n \n \n \n

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Have a Plan (Avoid Emotions of wins\/ losses affecting your staking) <\/h2>\n <\/div>\n <\/div>\n \n \n \n \n \n
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It is human nature for emotions to influence actions. After we have set a limit and staked accordingly, we \u00a0might be susceptible to bet based on our emotions rather than initially planned approaches; \u00a0whether that\u2019s chasing losses or upping our stake with our winnings. It can be helpful to devise a plan for the bets you will place in a set period to limit the opportunity for impulsive or emotional betting, which detracts from your \u00a0original strategy. An example of this can be a simple spreadsheet to set out daily wagering activity:<\/p>\n\n\n\n\n\n
Moonee Valley <\/strong><\/td>\nR6<\/strong><\/td>\nCharm Stone<\/strong><\/td>\n$25<\/strong><\/td>\n<\/tr>\n
Moonee Valley<\/strong><\/td>\nR8<\/strong><\/td>\nMr Brightside<\/strong><\/td>\n$50<\/strong><\/td>\n<\/tr>\n
Moonee Valley<\/strong><\/td>\nR9<\/strong><\/td>\nBella Nipotina<\/strong><\/td>\n$25<\/strong><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

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Or you can stake what you want to spend on each race if you\u2019re gambling for entertainment purposes:<\/p>\n

 <\/p>\n\n\n\n\n\n\n\n
Moonee Valley <\/strong><\/td>\nR1<\/strong><\/td>\n$10<\/strong><\/td>\nMoonee Valley<\/strong><\/td>\nR2<\/strong><\/td>\n$10<\/strong><\/td>\n<\/tr>\n
Moonee Valley <\/strong><\/td>\nR3<\/strong><\/td>\n$10<\/strong><\/td>\nMoonee Valley<\/strong><\/td>\nR4<\/strong><\/td>\n$10<\/strong><\/td>\n<\/tr>\n
Moonee Valley<\/strong><\/td>\nR5<\/strong><\/td>\n$10<\/strong><\/td>\nMoonee Valley<\/strong><\/td>\nR6<\/strong><\/td>\n$10<\/strong><\/td>\n<\/tr>\n
Moonee Valley<\/strong><\/td>\nR7<\/strong><\/td>\n$20<\/strong><\/td>\nMoonee Valley<\/strong><\/td>\nR8<\/strong><\/td>\n\u00a0$10<\/strong><\/td>\n<\/tr>\n
Moonee Valley<\/strong><\/td>\nR9<\/strong><\/td>\n$10<\/strong><\/td>\n\u00a0<\/strong><\/td>\n\u00a0<\/strong><\/td>\n\u00a0<\/strong><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

Ensuring a plan is in place when wagering, such as staking, promotes a proactive approach to gambling within your means.<\/p>\n\n <\/div>\n <\/div>\n \n \n \n

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Other tools <\/h2>\n <\/div>\n <\/div>\n \n \n \n \n \n
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Loss Limits – allow you to limit the amount of money you can lose over a given period. The nominated limit can be set for a daily, weekly, monthly or yearly period.<\/p>\n

Time Out \u2013 allows you to take a short break from gambling. This enables you to temporarily block your account for a period of 24 hours, 48 hours, 72 hours, 7 days, or 30 days<\/p>\n

Self-Exclusion \u2013 Self-Exclusion allows you to close your account for a specified period of 6 months, 1 year, 2 years, 3 years, 4 years, 5 years or permanently. This prevents you from accessing your Betfair account for your selected period.<\/p>\n

For more information visit: https:\/\/www.betfair.com.au\/info\/responsible-gambling\/<\/a><\/p>\n\n <\/div>\n <\/div>\n \n \n \n <\/div>\n","protected":false},"excerpt":{"rendered":"

Establishing a deposit limit is a crucial aspect of responsible gambling. A deposit limits allow you to set a cap on the amount of money you can deposit into your betting account on a daily, weekly, or monthly basis. This precautionary measure ensures that you remain within your predetermined budget, preventing impulsive and excessive losses. <\/p>\n

Whether you’re a new user or an existing account holder, the process of setting a deposit limit is straightforward and can be done during account registration or in your account settings. By adhering to your defined deposit limit, you’ll be able to maintain control over your gambling. <\/p>\n","protected":false},"author":33,"featured_media":36232,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"tipster_notification_checkbox":false,"send_notification":false,"footnotes":""},"categories":[22],"tags":[],"brand":[],"class_list":["post-16051","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-education"],"acf":[],"yoast_head":"\nSetting Deposit Limits | Bet With Care | Betfair Hub<\/title>\n<meta name=\"description\" content=\"Deposit limits are a crucial aspect of responsible gambling. 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