Not having a go at you Nathaniel, but I’ve always disliked the term ‘mug punter’.
Unless one believes in the maxim ‘never give a sucker an even break’ I believe that bookmakers shouldn’t fleece what I prefer to call ‘recreational punters’ or ‘fun punters’ by stacking the cards heavily against them; be that by offering the probability-unaware superficially tempting offers or by ramping up the over-round on events like the Grand National.
Without the recreational/fun/mug punter those of us who take betting seriously wouldn’t have any markets to ‘invest’ in to borrow a Gingertipsterism.