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Want to learn to bet? Betting 101 is the place to start.

< Previous Profitable Betting 101: Introduction

Index: Profitable Betting 101

Betting Myths

Not all people are punters… but you’ll often find they have an opinion on it anyway!

There’s plenty of myths – or “supposed truths” – about the punt that you’ve probably heard. So let’s start by addressing some of them.

“It’s all luck”

Some forms of gambling, such as many casino games, are definitely all about luck or probability.

Betting on racing or sport is not. If you’ve ever played or followed any sort of sport, you’ll know it’s not luck that decides the outcome: it’s a multitude of factors such as skill, strength, fitness, preparation, mental application and stamina.

Luck can play a part at times, but over the long run the better players, teams and horses win. If you can read the form effectively, you can more accurately predict who will come out of top.

“It’s a mug’s game”

“Nobody wins”

“You can’t beat the bookies”

Many people have never met a winning punter, but that’s only because there’s not many of them. As we said earlier, by most estimates 97% of punters are losers.

But there absolutely are punters who consistently beat the bookmakers and win over the long run. What’s absolutely critical to understand, however, is the point we made above: it’s not luck.

Long-term successful punters have a variety of approaches, but they all win because of one basic factor: they work harder and smarter than others. They’re disciplined and don’t let their emotions cloud what their hard work has told them.

It’s not the easy life that many might imagine, but winning on the punt is a realistic and achievable aim… if you’re willing to put in the work.

“You’ll never go broke backing winners”

Actually, it’s very possible to back a lot of winners, and lose money doing it. Successful punting isn’t about backing as many winners as possible. It’s about backing the right winners at the right price. We’ll show you why.

Backing winners and making money aren’t directly aligned. Send two punters to the track for a day: Punter A might back four winners, while Punter B might only back one. Who made more money? It could be either, and it could quite possibly be Punter B.

Such is the reality of betting markets.

Once again, welcome aboard and congratulations on taking the first steps toward profitable punting. Next, we’ll take a look at odds.

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Index: Profitable Betting 101