Everyone wants to become a better punter, or at least we all should, because it ultimately results in more cash in your back pocket. With that in mind, I’ve come up my top tips to take your game to the next level.
1. Accurate Record
It takes time to upkeep an accurate record but it’s important. Accurate records let you analyse how your tips are performing, compare your record to the official record, and provide motivation knowing how much you’ve made each day, week or month.
2. It’s All About Price
The two best sayings in punting are “love a price, not a tip” and “it’s all about price”. Always try to get the best price you can because small differences in price have a significant effect on your bottom line.
If you miss a price, you can back it down to the break-even price, but after that you just have to leave it. That’s hard to do because we want to bet and hate a missed winner but bets on bad prices are as good as handing your money over to the bookies. Most bets lose and you’ll probably save your money in any case.
3. Long-Term vs Short-Term
Most punters are very attached to individual results and place too much emphasis on them. We all love a winner (and hate a loser) but the experienced punter ultimately knows that individual results, meetings, weeks and even months don’t really matter.
Successful punting is about the long-term and as long as you continue to make good bets, the winners will come and you will make a profit.
Discipline means always trying to make good decisions. Losing runs, bad luck, missed winners, taking a bad price and costly mistakes all suck, but it happens to everyone. The difference between a pro and Average Joe is not that pros don’t feel that emotion, but that it doesn’t affect their next bet. Good discipline usually means not betting after a bad result. Recognise when you’ve made a good decision (despite temptation) and give yourself a pat on the back for it!
5. Understand Your Psychology
Related to discipline is your psychology. Gambling is a mental, emotional game. We bet for the thrill of a win, but good punting depends on clinical, objective decision-making. Learn about cognitive biases and how they affect your punting. Understanding your psychology when you punt will help you recognise when you’re about to fall for a punting trap and prevent yourself from losing more than you should.
6. Knowledge and Experience
Read, read and read. Watch videos. Attend seminars. Ask questions. The more you learn about punting, the better the punter you will become. When you read or hear some expert advice you respect, incorporate it into your process, rather than learning it the hard way later on.
Sometimes though, there is no substitute for experience and the truth is most lessons in punting are learnt the hard way – with losses. Everyone makes mistakes but after the dust settles, look back and ask yourself, “what could I have done better?”. Most of the time there is something new to learn and incorporate into your process. Incorporate that new knowledge into your very next bet.
7. Don't Overbet
The recommended bank on Champion Bets is a 100-unit bank. That’s a sensible strategy. Betting 1-3% of your bank on each bet feels like a tiny amount, and it is when your bets are winning. However, the worst run you’ll ever experience could start on your very next bet and that is why such low bank percentages are used. You can’t make money without a betting bank.
8. Profitable Punting Is Not About Winners
When some people sign up to a tipping service, they expect winners on every tip and think a losing tip is a poor tip, but that’s not how profitable punting works. A successful horse racing analyst may have a 30% strike rate, which is 7 losers in every 10 bets!
Profitable punting is not about backing winners. It’s about identifying when the markets odds are better than what they should be based on winning chance of the team/horse/whatever. A tip doesn’t mean that horse or team will win. It means their chance of winning is better than what the odds say. Professional punting is all about chance.
Rod is the brain behind our High Low membership, focusing on the best specials across sport and racing to ensure maximum profits for members. If you enjoy watching both sports and racing, and making money along the way, then click below to join the High-Low now.