bill gates

As we’ve shown a few times, there’s plenty of lessons from unlikely sources that can be applied to the punt. The “world’s biggest nerd” may not be a punter, but some favourite sayings from of Bill Gates are actually quite relevant to the betting world.

Bill Gates: Famous quotes applied to the punt…

“At Microsoft we were always saying to ourselves… we have to innovate. We’ve got to come up with that breakthrough. In fact, the way software works… so long as you are using your existing software… you don’t pay us anything at all. So we’re only paid for breakthroughs.”

Just like Microsoft, punters are also only paid for breakthroughs. 

You can do the form the same way as everyone else. But you won’t have an edge and therefore won’t be getting ‘paid’. To be a successful punter you need to beat the market. This can only be achieved by analysing the form and betting market in a way that’s different to the masses.

“Intellectual property has the shelf life of a banana.”

And so do betting edges. You may have worked hard enough and been talented enough to develop an approach that currently beats the market. But that edge is certain to disappear over time. That may be weeks, months or years, but no edge lasts forever.

“If GM had kept up with technology like the computer industry has, we would all be driving $25 cars that got 1000 miles per gallon.”

If the TAB had embraced technology earlier, they wouldn’t be experiencing anything like their current difficulties.

The tote takeout makes it close to impossible to be a long-term winner. Yet the TAB has made no attempt to use IT advancements to reduce their commission and make their product more competitive. Their takeout remains close to double that of Hong Kong racing. Locals are voting with their betting dollars by seeking more competitive punting alternatives.

“The internet will help achieve “friction free capitalism” by putting buyer and seller in direct contact and providing more information to both about each other.”

Without the internet there would be no such thing as a betting exchange or corporate bookmaker. Betfair has used modern technology to cut out the bookmaker or TAB ‘middleman’ and put backers and layers in direct contact. Betfair’s continued growth can help attract the younger demographic, a market that the racing industry craves and desperately needs.

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