Any Full-Time Punters out there?

One thing to remember:
Las Vegas was NOT built on winners !!

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...if punters win more than losing, they'd be taking more money out of the system than putting in.........so you've got to beat the odds.

After nice wins we all believe somewhere deep inside that the big win is around the corner. Confidence generally spikes after a good win and thoughts of going pro surface. This is generallyfollowed by a serious hiding as the bets get bigger after a good win.

I play R5 multiples on the bookies - I generally look for the ones with the large limits. Will pick up the R100K one of these days.

Just missed R4k for R5 this afternoon in England Black Dahlia ran 3rd:


12-Oct-2009 189879 HORSE RACING KEMPTON HCP 6 THIN RED LINE Win 5/1 25.00 5.00 4051.00 - Win
12-Oct-2009 189879 HORSE RACING WINDSOR Race 7 RAINBOW DESERT Win 16/10 48.00 30.00 4051.00 - Win
12-Oct-2009 189879 HORSE RACING KEMPTON HCP 7 BLACK DAHLIA Win 11/2 429.00 78.00 4051.00 - Lose
12-Oct-2009 189879 HORSE RACING KEMPTON HCP 8 DVINSKY Win 7/1 3549.00 507.00 4051.00 - Pending

This way you pay the school fees slowly without taking to much of a smack in the wallet. Discipline is NB as a win normally follows with increased staking. Big mistake

Dvinsky won by the way

Alcaponee, run that R5 multiples by me again...... this time slowly

Look at the fixed odds example above:

Thin Red Line 5/1
Rainbow Desert 16/10
Black Dahlia 11/2
Dvinsky 7/1

The bet is a four way multiple - the accumulated odds are calculated as follows

1. add 1 to your price 5/1 becomes 6/1, 16/10 or 1.6/1 becomes 2.6/1 etc etc
2. multiply you new odds 6 x 2.6 x 6.5 x 8
3 subtract 1
4 Multplied by your stake

6 x 2.6 x 6.5 x 8 = 811.2
811.2 - 1 = 810.2
810.2 x R5.00 = R4051.00

Therefore accumulated odds = 810.2/1

There are some excellent points in this post. I would like to add a few :

1.) Most of us started punting 'for fun'. So for many years I found it extremely difficult not to 'chase' when I am behind; as my betting strategy was never founded on a business like approach.

2.) About 10 years ago I actually sat down and analysed my performance. I discovered that I (probably) made money on sport and gave it all back and (then some) on racing.

3.) I have been reducing horse punting ever since and the results are startling. In my favour. Hopefully I have had my last horse punt but you never know - that juicy 12/1 shot may be just around the corner. Interestingly - I found making the decision NEVER to punt my own horses lifted the scales from my eyes. I never catch my own horses right so why should I be better on others'?

4.) I have been gradually reducing the sports I bet on. Football, for example, is particularly dangerous unless you can trade ( Betfair). For the conservative punter cricket developes sufficiently slowly for you to hone your skills without doing major damage.

5.) Rugby is my preferred sport - probably because I am reasonably expert. I have played and watched it for over 50 years. ( ref - you have to pay your dues ). I limit myself to tournaments ONLY. I take as big a strike as I can afford ( or get! ) and then trade out as the 'runner' progresses. If it progresses!!! Tournaments are great in that they offer a margin of error ( your side may lose the odd game along the way ) yet you will probably have covered your stake 100% by the time you reach the final rounds. Your side may even deliver a profit without actually winning. So Super 14, Tri-Nations & Currie Cup are big for me. If you clear R100,000 from each you have boosted your income by R 300,000 pa or R25,000 pm. Not huge but a fun way to spend your Saturday afternoons!

And you will know precisely where and how you spent your money. Unlike racing - where I did my tom and could not even remember the horses I backed.

I could probably do this professionally by simply increasing the size of my action. But, to be frank, it would leave me with Mon - Fri with nothing to do. And having work that I enjoy as well is critically important to me.

Garrick wrote

If you clear R100,000 from each you have boosted your income by R 300,000 pa orR25,000 pm. Not huge but a fun way to spend your Saturday afternoons!


Wow, dont you think that millions upon millions of people would love to earn that yet you put it down as fun. Unbelievable.

Garrick

very well put and once agian shows why people like us stopped "working" the system.

I often say to mate that i dont play the lotto cause i reckon if i win it i want to be 100% sure i DONT share it with anyone. My resons for this are simple, it would break my heart knowing that i was in lying in bed as a lottry winner yet because i shared it with 5 others i was now only £700k richer my point being i will be a lottery winner that cannot retire.....whats the point. And similar to working any system betting. If its NOT returning substansial ammounts what do i do with the rest of my time. Whats the point of being a full time punter and not eanring enough to do nothing....

Find a job you love and you'll never work a day in your life. - Confucius

Thanks Alcoponee, I take it you have caught quite a few

Turfontein Marble Arch.

Most of the guys that hang out there are full time punters.
They have a different style of life, hence to understand their financial model, one needs to walk their shoes.

At most casino's we find full time punters, making a living off the casino floor, and again they have a diffrent style of life.

Reading your view and question, I perceive that you ask this question from a typical working man's "frame of reference".

A working man does have certain boundaries, which forces him to think in a certain way. This prevents the man to make living as a gambler, or rather making a living from the industry of skill or chance.

A working man, has ordered his mind in 12 equal sections per year, expecting a certain amount fo money in each of the 12 section periods or monthends, to reset the meters to zero, meters, which drives his existance.

Failing in one of these 12 sections or monthends, suddenly forces the working man to revert to fear. When the debit orders are retured, the credit limit at the bank is suddenly affected, the thinking process is seriously affected.

The guys at Turfontein Marble Arch, never ventured the route most working men do, hence they have none of these preconceived ideas that prevents the working man from making a living in the industry of skill and chance.


The day a working man can make a living on 2 payments per years, without living in fear, is the time a working man can make the transition to the industry of skill and chance. Until then, the working man must rather see it as a game, and spend the saturdays wasting his money on the races, instead of fishing, golf etc.

That does not imply that the man, making a living in the industry of skill and chance, does not live by boundaries and structures. Perhaps, this man, has to adhere much more to boundaries and structures than the working man.

It's fairly simple to make a living in the industry of skill or chance.
Need to follow some processes or adhere to some models, such as:

Selection Model...days..weeks can pass and no bets are taken..
which race course
which races
which stables
which jockeys
which draws
what price
which bet structure


Financial model...
ie..win bets only...
10% of pool..
if you start with R10,000 in the pool at the start of the year,and take 50 bets,
ie 1 per week at >15/10,,3 win and 1 looses from every 4 bets..
then you should have >R1,5m at the end of the year..


Process model..
every person must have two divisions
1. maintenance division which is about 10% of your life..
this division must put a roof over your head..
transport
medical aid
insurance
schooling for the children..
and the normal expenses..
the rich call it a family trust...
the problems we have..most people..the maintenace division has gone banckrupt...
or..the maintenace division is not a sustainable division..the expenses are more than the income..because we live in too a fancy house..drive too a fancy car..etc..

2. new projects divions which is about 90% of our life..
its from this division that the above selection model and financial model must be started.

ie..99% of punters should not be punting...

getting back to the fulltime punters..at the Marble Arch and the Casino floors...they have maintenace division that we find impossible to live in..

the differnce is..they life a full live..while the workingman lives a lie...???

the retired chief justice Honourable Mr Justice Pius Nkonzo LANGA said the other day on TV show...
asked by the interviewer..what he was going to do...
.........everything HE WANTED to do HIS ENTIRE LIFE...

every working man has that dream..when I retire..
well....full time punters never followed the working mans route..and end up doing what they want to do every day..?????

guess as an educated guy, that spend 24 years in the corporate business, I am telling you..it is the most foolish thing to do...go an work for a boss..to perceive that I have a career..and one day when i retire...I will do the things I always wanted to do my entire life..


If you want to be a full time punter..and dont have any responsibilities such as a wife and children..do it 100%..