I thought I would put up a blog running through 20 Top Tips that you should all follow to be a better punter and to succeed at Racing.
1 - Discipline
Discipline is the absolute number one rule. Be happy to lose an amount you can afford to lose, never deviate off it. There will always be another good opportunity another day. As they say in poker do not lose your discipline and go Full Tilt or chasing your loss, because you will lose, horses are not machines. Work on a weekly or monthly cycle until you have enough of a betting bank to maintain a longer cycle of betting and keep that cycle in line with your Betting Bank (2) & your Staking Plan (3).
2 - Betting Bank
This is for me the next biggest factor in being successful. Be absolutely ruthless with your Bank. Let's say you have £100 to start off with and that you're happy to lose that before your next cycle kicks in.
You should be betting £1 or £2 for a normal bet, If you have done all the hard work and you really fancy one, you can increase this to £5. £10 would be the absolute maximum bet you should contemplate before utilising a big % of your bank and this takes us to number 3.
3 - Staking Plan
This follows in from your Betting Bank (2). Your staking plan should look something like this
a) 0.5Points - In With A Chance Horse (50% Confidence)
b) 1.0 Points - Normal/Standard Bet (65% Confidence)
c) 2.0/3.0 Points - NAP Bet (80% Confidence)
d) 5.0 Points - Banker (90%+ Confidence)
You can never be 100% because that little bit is left to luck, yes luck, because there are factors we cannot control.
Your staking plan can also be split or dutch if you like 2 in a race and you know if one wins or places you will come out ahead. Here is a link to a free dutching calculator as an example.
Finally, when you win a bet, on your next bet do not increase your stake! STICK TO THE STAKING PLAN.
4 - Think like a Business or Professional
I cannot emphasise this enough, track your Profit & Loss, record your bets. If anyone wants a template I can easily create one and add it to the member's area (leave a comment below).
Betting is not a get rich quick scheme, to succeed you need to treat it as a business.
The real key thing here is knowing when NOT to bet (this comes from discipline), you may look at a race and think I like this horse, how confident are you! If you're 50% on a 4/6 chance then holy shit, leave it alone!
What you can do is use your betting history to see where you do well and where you don't. You will be amazed how not betting on certain races will actually increase your Betting Bank.
5 - Multiples (stay away as much as you can)
Multiples are a bookies dream - I very rarely do Doubles or Trebles or Accumulators. For the Horse Race Ratings Betting Syndicate I run (membership available soon for newcomers), the only time we do a Lucky 15 etc is for Cheltenham and Royal Ascot, occasionally I say put them in a multi-bet, but it's not often, we have had some success doing that notably at Meydan and a few times following a card on the ratings.
They will kill your bank as well, they look great when they come in, but that may happen once in every 50 to 100 bets and by the time you factor that in, you are running a loss!
6 - Specialise
Specialise in an area, for example, I much prefer betting on Non-Handicap Races more than I do handicaps, so I will spend more time studying for those, in time you can expand your research and knowledge. I have been creating ratings for 9 years now and before that studying horses properly for 6 years, the years before that was a steep learning curve getting over failures. Take time to watch as many races as you can, you will learn a lot about races and race riding.
7 - Blame Game
We are all guilty of this and I can be a Jockeys/Trainers worse critic even when I've not had a bet, especially if I felt they've got something wrong, but I will not blame a Jockey or Trainer for me losing a bet. A good example today was Narak ridden by James Doyle, I felt the horse should've won, it was beaten close home, but the winner ridden by Hollie Doyle, had the rail to help and that was the difference, this wasn't James' fault as his horse was drawn away from the rail. Some of the abuse trainers & jockeys get is horrific.
We can be disappointed but never let that disappointment turn to anger, that will result in loss of discipline.
8 - Alcohol & Betting
Do not get pissed when betting, even when you are on a day out, yes have a couple, but save the proper drinking for later. Betting and drinking do not mix!
9 - Patience
This really should be higher up the list. Patience is a bit different to Discipline, patience is about learning not to look for a bet but to wait for the right bet. If a race looks hard to unravel, even with all the stats, form & ratings on hand and you can't get over that 50% Minimum Confidence level then walk on to the next race!
10 - Impulse
Do not bet on impulse or bet without having studied the race, impulse betting is a major no-no and you will always kick yourself afterwards for doing it as you will likely lose 9 out of 10 times.
11 - Exchange Betting
Learn about this as a priority, you can make better gains and 90% of the time get far better returns on your bets. Yes, there is a commission and sometimes a premium charge but on the long term you will come out a lot better off. Unless of course, you have a magic crystal ball and know every horse that is going to backed off the boards and also win. I, 9 times out 10 take the Betfair SP, because I know I only need 1 or 2 bigger price winners to outweigh early prices offered by bookies in a course of a month to come out with more profit.
12 - Outside the Box Betting
We all love a winner, who doesn't, but the place markets both on the exchange and with some bookies offer an exceptional opportunity to bolster that Betting Bank. If I can get 1.7+ on standard or 4 places and I fancy a horse to win outright, I'm taking those places prices all day on. It can cover your win bet and sometimes return you a solid profit.
13 - Enhanced Odds Offers
Generally, stay away from these, they are enhanced for a reason, it is basically a bookies NAP to lose!
14 - Affiliates to Bookmakers
I can name a whole bunch of sites here affiliated to bookmakers the likes of GYTO, myracingtips (myracing) even OLBG to a degree are all affiliated sites, they make money from you losing! You use their links and they are quids in on your losses.
These guys do not want you to win! If you look through their website, you will find these to be owned by Marketing/Ecommerce businesses and they can turnover big numbers, all from people losing their bets.
Avoid these like the plague!
15 - Enjoying the ups
I've said for years to members, when they have had a great win, do something with the winnings, buy something new, go to a great restaurant, book a weekend away, because you have then reaped rewards and have gotten something to show for it.
Even moving a portion of profit in your bank to shove in savings. Do something positive with it!
16 - Time Off
Racing can be demanding as it is almost 7 days a week 52 days a year. Make sure you you take time off, just like you would in any Business, take your holidays!! Even just having a break during the day for a few hours! Especially in these crazy times.
This is the one area I struggle with because I'm providing a great service to all of you and I want to protect that, but I sometimes even say - I'm having a night off - Ratings will be updated in the morning!
17 - Sentiment
You love a horse because he won you a few quid on a bet, do not think you have to be sentimental and have a few quid on him again. Study the race for it's own merits, you will succeed more by doing this!
18 - Odds on Shots
Never be afraid to back them, just make sure you are in the 80% plus confidence bracket as you're going to need them to win more often than not, so be selective on when you do!
19 - Certs & Gossip
These 2 go hand in hand, avoid any "Inside" gossip & any info saying this is a Cert, there is no such thing in Horse Racing, and gossip will generally be a load of bollocks. We saw it this week with Stone Mason and that got stuffed out of site, but every Wally seemed to be backing it. Unless you are 100% in the know then leave ”this is a cert" or "inside info" nonsense.
20 - Horse Race Ratings
Watch the Tutorials, understand the data, ask me questions and the Ratings/Stats will make you a better punter!!