For many punters betting is deemed to be a bit of fun, a hobby that many are all to well aware can be a very volatile experience. As an experienced Professional I have learnt many different aspects on how to gain an edge when it comes to backing racehorses for long term profit.
Statistically only 2% of the betting public actually manage to show an annual profit leaving the other 98% out of pocket, there are many different reasons why the vast majority of punters fail in their attempts to win.
I have outlined below 4 different types of male punters that most definitely exist in the betting world today.
THE FUN PUNTER
Usually does his own thing and doesn't take his betting seriously. Backs horses on sentiment ie. family names, favourite jockeys and trainers. Keeps no record of his betting activities and tends to adjust his stakes in accordance with gut feeling. Overall Chances of Long Term Profits: NON EXISTENT
THE AMATEUR PUNTER
Tries to back horses he believes will win usually from a form point of view. May have a decent run from time to time although he doesn't entirely understand the mathematics of a betting market thus leaving himself vulnerable when things go wrong. He has a tendancy to chase losses and bet blind hoping that his luck will turn, he lacks patience and inevitably will most likely be showing an annual deficit. Overall Chances of Long Term Profits: VERY LOW
THE SERIOUS PUNTER
Understands betting and the concept of value and keeps an overall record of all his betting activities. He will certainly have a much better chance of financial success than a Fun Punter or an Amateur Punter. His achilles heel points down to one missing ingredient which will find him out long term and that vital ingredient is Genuine Information. This is without doubt the key to an unprecedented edge in betting. It goes without saying that having access to Genuine Information gives any punter a huge edge over those that are guessing. Overall Chances of Long Term Profits: LOW
THE PROFESSIONAL PUNTER
Understands all the aspects of betting on racehorses, valuating a betting market, assessing overturn, calculating long term ROI, betting turnover, employing a sound strategy and of
course is in reciept of Genuine Information. The Professional will make his betting pay long term (annually) employing an edge to his betting and never changing his strategy even when he hits a rough patch. Knowing that his plan works long term he will stick to it never changing his methods even when under pressure. Overall Chances of Long Term Profits: VERY HIGH
Only 2% of the betting public are considered Professionals, those that make money from backing racehorses on an annual basis. As a Professional myself two of the questions I am often asked is 'How do I stake' and 'Do I believe in staking plans' The mathematics of any staking plan has it's strengths and weaknesses, long term staking plans do not work well as they tend to encrypt punters minds on what might of been. If a punter can't make a profit using level stakes he simply would not make a profit using a complex staking plan. I back horses to level stakes, this has worked for myself year in year out. I do not suffer from chasing losses or increasing stakes in accordance to a staking plan. After each successful year I do increase level stakes by 10%, my betting turnover goes up each year due to the 10% increase. Notice that I do not get carried away after a successful year and treat it like a business, that's exactly what it is to me a business which I profit from by using a professional approach.
8 TIPS ON HOW TO BET
1. Keep a precise record of all bets.
2. Calculate approximately how many bets you intend on having each month.
3. Bet only to level stakes using 5% of your total starting bank.
4. Open up as many betting accounts as possible including betting exchanges.
5. Do not use betting exchanges when backing strongly fancied horses. (There is a good reason for this that I only explain to my existing members)
6. Never ever change your betting strategy no matter how much pressure you are under.
7. Trust only valid genuine information from reliable sources not someone who has a dubious overall record.
8. Increase your level stakes by 10% after each profitable year.
© McCallum Racing 2013