The argument over level stake betting versus progression betting has raged for many decades and will probably continue in the same vein into perpetuity. For those that do like progression betting, here is a plan designed to put you in to a profit situation after a series of losses. "Warning Will Robinson, warning, warning!" Calculate the possible bank you will need after a long series of outs and you may not wish to proceed.

RULE ONE:
DON'T BET ODDS ON UNDER ANY CIRCUMSTANCES

RULE 2:
If the horse you like is odds on e.g. showing less than $2.00 for the win, either pick something else or pass the race altogether

RULE 3:
Invest one unit ($1, $2, $5, $10 - whatever you are comfortable losing) on the first race you bet in. That amount stays the same unless you strike a loser.

RULE 4:
After you strike the first loser, all subsequent bets are calculated as follows:

If the next selection is priced between $2.00 and $2.30, your next bet is an amount equal to double the amount of your total losses
If the next selection is priced between $2.50 and $3.30, your next bet is an amount equal to the amount of your total losses
If the next selection is priced between $3.50 and $4.50, your next bet is an amount equal to half your total losses
If the next selection is priced at more than $5.00, your next bet is an amount equal to one quarter of your total losses