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Best advice you've had

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  • #1296
    • Total Posts 1008

    What is the best betting advice that you have rec’d? This is mine – <br>A guy told me that most of the best punters are the ones that lose the least amount of money when they are not winning.<br>He meant that even moderate punters such as myself have winning runs occasionally but it’s how the punters deal with the losing runs that often matters the most. Too many develop the wrong mindset and start bad habits such as <br>1.betting more often instead of less.<br>2.increasing their stakes instead of reducing them. <br>3.betting on horse races/events that they normally avoid etc. <br>He was really saying ‘ don’t chase losses’ but he worded it in such a way that I took more notice than I normally would have. <br>Anybody got any other advice?<br>

    (Edited by SwallowCottage at 8:32 pm on April 3, 2007)

    • Total Posts 4491

    Best thing I ever did was set up a completely seperate bank account for betting about 4 years ago. Starting with a set amount, you should be able to keep it growing bit by bet and you don’t have to worry about losing runs ever affecting day-to-day living like rent payments etc etc.

    • Total Posts 1593

    Only bet horses that you fancy.

    That sounds very simple, but it’s more in reference to picking out the winner in, say, a selling hurdle. If you find yourself ready to back a horse just because it’s ever so slightly less of a monkey than the rest, leave the race alone. The best punters I come across are those that pick one or two a day at the most and back them with all the money that they would have spent backing several half-fancied nags. This way they are exercising the best chance of being a good tipster, as backing just one winner a day puts you in profit.

    Although the advice of never chasing one’s losses is a close second.

    • Total Posts 5112

    Bet the odds not the horse


    No bet is a good bet; there’s always tomorrow

    • Total Posts 144

    You are playing a game that never ends – copyright AP if I remember correctly!

    • Total Posts 455

    "Lose small, win big" – though I haven’t quite figured out the mechanics behind it.

    • Total Posts 419

    Apart from the obvious “don’t chase losses,…  never bet more than you can afford to …. etc … etcâ€ÂÂ

    • Total Posts 199

    Learn to lose graciously and effectively, only then will you win long term.

    • Total Posts 8783

    Best single piece of advice I ever acted on was to record each and every bet, in writing.

    • Total Posts 2924

    There is no compulsion to have a bet.

    Find the winner, check its price, if it suits have a bet, if it doesn’t, walk away.


    • Total Posts 2663

    1. Study Form

    2. Specialise

    3. Don’t spend hours chasing around for a fraction higher price.  Use that time to study even more form and bet at SP.  Most people can’t buck the market.

    4. Exchanges are not a panacea.  Backing winners is.

    5. Ignore the mantra ‘never bet more than you can reasonably afford to lose’.  Always bet more than you can reasonably afford to lose – it concentrates the mind wonderfully.

    6. If you lose, blame yourself.


    • Total Posts 1008

    Excellent replies so far and I bet in accordance with most of the advice that has been mentioned so maybe I am doing something right. I don’t have a seperate bank account for betting as mentioned by DJ but this sounds like a good idea.

    Quote: from betlarge on 9:42 pm on April 3, 2007[br]<br>3. Don’t spend hours chasing around for a fraction higher price.  Use that time to study even more form and bet at SP.  Most people can’t buck the market.

    Agree with most of your comments Mike but I’m unsure about the one regarding betting at SP. I follow the form book and specialise and always take early prices – the reason for this is because my selections get backed more often than not but I don’t know why – only reason I can think of is that other form book punters are backing the horse. My experience has shown that taking early prices often beats the SP but you obviously don’t consider it to be worthwhile.

    (Edited by SwallowCottage at 10:25 pm on April 3, 2007)

    • Total Posts 25

    Look closely at the form, check out previous meetings between the horses involved, the place your bet.

    I followed this religiously one day and put on MORE than I could afford.

    The 2005 Coral Eclipse was the race in question – the wife left me.

    • Total Posts 2778

    Couldn´t disagree more with the last post-specifically that getting a price is not important. I reckon that the price you get determines whether you win or lose in the end. Let´s face it, none of us are arrogant enough to think that we have anything but a small edge, at times, on the average punter. With the advent of betting exchanges, the markets are more efficient than ever and winning means getting the best price possible about your selections. I have always had accounts with as many firms as take a decent bet as well as UK and Irish  Tote and Betfair and will freely admit to spending a considerable time shopping around and trying to anticipate the market in order to decide whether to take an early price, show, exchange price or Tote (when the pool is big enough to take a decent bet) This is one skill I think improves over the years- I now have a good gut instinct for the horse that will be punted from its morning price or for the one that may drift to a backable price near the off (find the exchanges the best medium for these). Nothing annoys me more than taking a bad price, whether the horse wins or loses. I can´t remember the last bet I had at S.P., unless it was a "guaranteed price" with an Irish bookie.I also disagree with betting more than you can afford- I do much better when the fate of each bet, each day or even each month is not life or death- as long as my confidence in winning long term is intact. Within reason, the fate of each bet doesn´t bother me too much if I think that it had a valid reason behind it.<br>I too think that writing down all bets and a separate betting account are essential.

    • Total Posts 4809

    have a contrarian personality

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