Profitable punting can be boiled down to a two-step process: a) determine the true chance of a selection winning; and b) getting the best odds you can. I want to talk about the second part and share the tips and tricks I use to get a good price.
Price is one of the most under-rated aspects of punting. Small differences in price can have a large effect on your bottom line and the better the price you back, the more profit you’ll make in the long run.
The question is, how exactly do you get a good price? In part 1 of this series, I’ll cover the basics on getting a top price.
Firstly, it’s good to acknowledge that you’re not going to get the best price every time – no-one does. Secondly, like most aspects of punting, it’s about the long term. You’ll often get a good price and lose (the overs god is a cruel god), or win when a better price was available – that’s punting. But the better your practices are, the more often you’ll get a good price and the more profit you’ll make in the long term.
The more accounts you have, the more prices you’ll have available on your selection and the more likely you’ll find a better price. Open accounts with corporate bookmakers and on-track bookies (if you bet on the races).
Keep in mind that Betfair takes a commission from winning bets, so the actual price you receive there (assuming a 5% commission, which varies) is as follows:
Betfair Price – [ (Betfair Price – 1) * Commission ]
$3 – [ ($3 – 1) * 0.05 ]
$3 – [ $2 * 0.05 ]
$3 – $0.10
Odds comparison software and websites make it easier to compare prices across multiple bookies on popular markets. The industry leader by far is Dynamic Odds (which is highly recommended), but there are websites such as odds.com.au and odds.aussportsbetting.com that are useful as well.
Sometimes the markets you want to bet on are not available on odds comparison tools, or you have bookie accounts that are not available on odds comparison tools. In that case, I manually open each website and navigate to the market I want to bet on. It’s a slower process but it’s worth the effort, especially when it reveals hidden gems that lazier punters never find.
Take some time getting to know your bookie.
Explore their site and know the markets they offer on the sports you bet on. Sometimes those markets will become available later in the week or closer to match start time. The more markets you know your bookie offers, the more prices you’ll have to choose from and more likely you’ll find a good price.
Knowing your bookie extends to knowing the promotions they offer to everyone and how these compare to standard markets on other bookies. TopSport, for example, offer $2 lines (max $200 bet) on AFL and NRL matches once final teams are announced. That’s considerably better value that the standard $1.90 lines available.
Also, know the promotions that are available to you. Promotions have maximum bet limits but can add considerable value to a bet, as members of the High Low membership know well. Promotions such as Bonus Bet 2nd or 3rd and price “boosts” at the right time can turn a good price into a great one.
For racing punters, it’s also good to know the price types your bookie offers. There’s a clear hierarchy:
(1) BOB (Best of the Best)
(2) Top Fluc
(3) Best Tote + SP
(4) Best Tote
(5) Mid Tote
When it comes to horse racing, VicBet offers BOB on every Australian horse race (except Tasmania) every day of the week and different bookies such as Sportsbetting, Ladbrokes, Neds and David Dwyer offer BOB on various metro meetings throughout the week. So, there’s really no excuse to be backing anything less than BOB!