This week, in conjunction with Beth.bet I am looking at 10 ways you can learn how to punt like a professional.
Whether you already eke out a living punting or are new to the game, there are a number of strategies you can employ to improve betting habits and turn your efforts into a more profitable pursuit. So, whether you are a seasoned professional or are a recreational punter who likes placing a range of bets such as an accumulator, a yankee or a lucky 15, thinking like a professional can make a huge difference and help you get ahead of the game.
Here is our top 10 guide on how to Punt like a Pro:
#1 Keep your household and punting funds separate – it is vitally important that you treat your betting as a business rather than purely recreational punting. Keeping your betting funds completely separate from the day-to-day is the smart way to go. Simplicity is key, and it means you can keep an eye on your overall profit and loss by tracking every related transaction and it won’t get blurred by your household accounting.
#2 Record all of your bets – Keep a detailed record of bets and use the Beth.bet dashboard to help you analyse your win/lose statistics. This insight is valuable because it gives you a one-stop overview of your punting performance and you can use the data to see where you are making mistakes so you can fine tune your punting strategy. Record this over time and periodically look back, measure and identify what went well and understand how you can improve like a professional.
#3 Make sure you have a full range of betting accounts and use of a betting exchange – It is important to make sure you obtain the best prices possible taking full advantage of all the bookmaker offers available including moneyback, cashback if you are placed second, returned money if you fall at the last, beaten a short head, best odds guaranteed (BoG) all these things can add a vital few percentage points to your overall profitability and benefit a novice punter.
#4 Specialise in a certain area – However good you are at betting; you can’t know everything about everything. It is far better to find a niche where you are an expert and might know more about the market, than it is to take a scattergun approach and place multiple bets across a broad range of sports. This is something Beth.bet can really help with by helping you focus on horse racing in particular and identifying the value horses that you should be backing.
#5 Never chase your losses – this is a golden rule of betting and an area where punters frequently get things wrong. Stay level-headed and play in first or second gear never getting hotted up chasing what has gone before. Stay measured keeping stakes consistent and within your means.
#6 Use your eyes and forget the hype. One of the most dangerous things as a punter is listening to gossip from other people, bad tips, red hot selections from an owner or supposed inside information. It does exist, but over time you are far better building on your own knowledge, studying the stats, the form books and what you have seen with your own eyes.
#7 Manage your time and know when to take a break – there are almost 360 racing days a year, but it is important not to get trapped into punting 24/7. Take regular breaks and as with all professional activities, know when to take time out. It will enable you to come back with a fresh perspective and prevent burnout and making bad betting decisions.
#8 Cut out recreational ‘fun bets’ – While you might want to have a bet on football or rugby that is covered live on television, this is not something you are going to have an edge over the market and over time you will lose money. So, keep it professional. Play in areas where you understand the market and can see clearly defined value in your bets.
#9 Price sensitivity – This is the most important aspect of all punting and one of the things that Beth.bet can help with (whether you are a seasoned trader or new to the game). Make sure you achieve bets at the best price possible at the top of the market and be sure to shop around, being acutely sensitive to finding the best value. This can make a vital percentage point difference and determine overall profit and loss at the end of the year.
#10 Use Beth.bet to help pinpoint all the value horse racing selections that you can find (especially in the mornings when the market is fast moving, and speed is of the essence) All the informed market movers – horses that are being backed in the right places usually using their unique algorithm that has been carefully honed over the last two years.
Horse racing is an exhilarating sport and trainers, and jockeys are extremely disciplined professionals. Whether you are a top-notch trainer from a revered stable or a jockey looking to get the best performance from their mount, hard work, ruthless determination and dedication to the sport is essential. There are no shortcuts. It is the same for punters, you need to be prepared to work hard, use all the tools and analysis available, study the key trends, make smart punting choices and know your limits. Following a professional punting mindset will pay dividends and guide you to a successful return on investment.