Happy New Year to all our readers and wishing you all the best for 2018. As they say around this time of year, it’s out with the old and in with the new.
No matter if you’re a recreational punter or someone looking to take a more professional approach to your gambling, there are a few simple yet highly effective approaches to make 2018 your most profitable year yet.
It’s simple in theory, yet always proves to be the hardest thing to instil into any punter.
With well over 10,000 races per year around Australia there is ample opportunity to bet, so why not bet when you feel you have found value in your selections.
Secondly, you must have the discipline to not chase your losses. Its stings when a bet gets pipped right on the post and you may feel the urge to want to get that money back as fast as possible. However sticking to your initial approach of seeking value in your selections will serve you best in the long term.
Structured bets and strict management of your bank roll will hold you in very good stead to return a profit. I have outlined in previous articles about the effective use of the Kelly Criterion and wanting to expose no more than 1% of your betting bank on a single race and no more than 2%-3% on a sporting event. This keeps you in control and in the game for as long as possible.
We have all seen that good form student who has poor bankroll management go bust. However, we have also seen the person who couldn’t tell one end of a horse to the other become a successful punter due to shrewd money management. This will play a huge part in you returning a profit in 2018 and one of the keys to successful punting.
If you don’t do this already I would highly recommend starting it now. Record as much information as possible about the bet you have just placed into a spreadsheet then evaluate those results every 3-6 months to see what you are doing well and not so well.
After going through your results you might be able to eliminate certain things. For example, it may be no betting on wet tracks or a certain venue. I know of very successful players who don’t bet at a certain venue or over a particular distance range because it has proven to not be profitable for them. Find out what you do well and hone in on that area to make that your edge.
Don’t Spread Yourself Thin
Regardless of whether it’s racing or sports, there are urges to form a market on every race or event. Why not just specialise in one or two states and/or a couple of sports?
Get to know all the ins and outs of that area and the patterns that form with particular horses, trainers, jockeys & tracks. The majority of very successful punters are specialists in one area and use there intimate knowledge to form an edge over the market place.
Implementing the above will hold you in good stead to make 2018 your best year yet on the punt. It all may seem very easy to do, and in theory it is, but many fall off the wagon as their emotions take over. You don’t want to let a moment of madness wipe out all your good work creating a healthy profit. Be cold, be disciplined and be smart to make this year a success!