New to punting

Howzit guys.

Im new to horse punting. Well I have been following horses on and off since last years Met. Been betting on the horses a bit, mostly playing Pa's and Pick 6. Needless to say I havent been very succesfull.

What I would like to know from you guys is what kind of bankroll management you use for the punting. I come from a poker backgroud, been playing serious poker for about 3 years now, and with that BRM is very important. So how do you guys go about on a daily basis? I have taken a subscription from the Whisperer as well but that didnt work out very well for me. He was way off form those 2 weeks.

How much would i need to seriously give punting a go or can i start with any amount?

Hope to get some great advice from you guys.

Cheers

My advice to you is stop now while you can. If you read through these pages and pages of other racing web sites you will find that most of us lose day in and day out (yes we do win big on occassion) Dont get into the trap as its like a drug and is very difficult to overcome because as they say "there is always the next race to get out of it".

Welcome to the forum and a good first post,im the wrong person to ask about bankroll controll.

I too have a poker background and understand the bankroll requirments but found it difficult to implement,even though i was a winning player i soon got bored and played above my bankroll..which is fatal

Wouldn`t recomend that anyone get serious about punting horses or sports, statistics in Punting horses are similar to Poker that there is only about 5% of us make profit on the long run.

In poker you can easily improve yourself and turn your self into a winner,some will say you can do that in Racing,i say its too hard to be a winner at the horses..

Play for fun...

My advice to you would be

1. Stick to sports betting with finite foreseeable outcomes
2. Price the market up yourself
3. If the odds available are better than your opinion consider habing a bet otherwise leave it alone.

Betting horses, especially in SA where the %'s bet to are often excesive, is the quickest route to the poor house.

Get the grooms from the stables to give you tips. They know whats going on.

Ok I might have come across wrong in my opening post. When I said serious I just meant be more calculated with my bets. Im not exactly gona quit my day job or take a massive loan to put on the horsies. From the sound of it too many of you guys on here are not doing very well.

Charles,you have one of the basic ingredients already...knowledge of a staking plan...how much is each his own but should be large enough to give you fair spread and take the odd "bad beat"
The whisperer has very good knowledge but over time you will find that it is partly ingredients but mainly recipe..ie bet structure is vital....have fun!

Research Kelly's staking plan. Best advice out there.

Hi Charles

I'm not a pro punter and very seldom have a bet, even though I've been In the betting industry For about 12 years. I've seen many punters come and go. I can give you tips on things you should and shouldn't do.

The things you should do.

Punt on value. You could much easier find value at a smaller meeting than big meetings. Remember a 1/1 money shot pays the same at Flamingo park on a Monday as a Saturday July meeting. Finding value is very hard to do in SA cos of book percentages.

Punt to win an amount eg 500/35 a 14/1 shot or 500/250 a 2/1 shot.

Things you shouldn't do.

Punt on sentimental Reasons.
Don't get caught up in every tip you get, Just remember that every jockey or trainer thinks he can win a race. ( especially big races)
And the Biggest advice is don't ever chase your money , It will make you do irrational things. I've seen people start the day putting R50 on horse and ending up putting thousands on an Obscure tennis match that evening trying to chase their money.

Good luck!

Hello Charles and welcome sorry for late reply, I have been at the bank trying to arrange money for the bookie.

To try and answer your question:

punt what you can afford to lose

don't punt on credit

select "your" fancies for the day and "only" punt them

don't punt race to race

don't pay for tips

spotsbetting is easier than horseracing to find a winner (smaller fields lol)

and remember the 3 D s

Discipline/discipline/discipline

Two other posters have already mentioned the most important aspects involved in punting :

DISCIPLINE and DON'T CHASE YOUR MONEY

They may appear to be the same but they are not. 'Discipline' is more about what you back and when whereas 'chasing' is about the ability to button when your play of the day has just gone missing.

I have this theory about 'chasing':

In property they refer to something called the 100 year flood line. This is the level to which, apparently, a river might rise every 100 years or so. It is a very rare event but it does happen.

Using this theory explains why punters who could otherwise be labelled professional and highly disciplined can also fall victim to a successive stream of hiroshimic results only likely to occur every 100 years. The damage sustained is potentially career threatening.

Looking back - if I could have just saved all the money I needlessly wasted on no hopers in the act of 'chasing' I might have turned a small profit in my racing career to date. But I didn't and I haven't.

So I changed to sport where I can confidently state that I have earned. Not a fortune but probably about R250k+ per annum when averaged out over the last 5 years. ( Happily its not enough to make my bookmaker gag and still big enough to bankroll me when I pick the occasional loser ).

Ive been playing some sports as well. Really fancy NBA betting as I follow that very closely. If it wasnt for the horsies I would have been up a nice amount from NBA .

Guess I answered myself there as to whether I should be betting on the horses.

Do any of you guys play the PA/P6 on a daily basis? I really like multiple bets like that. Not sure if it is bad luck but I will do a small PA tonight and post here for some comments .