When do we stop betting for the day? Do we stop when we get our first winner? How much can we afford to lose before we give up on the day as a lost cause?
These are just a few of the questions I get asked by punters almost every week. The answers aren't simple but it does seem that a bad day is usually a day that stays bad all day and nothing you can do will change it. On the other hand those rare good days when you can win backing anything are quite rare.
So where do we stop? It depends on what you're looking for. A number of Winform Racing Club Members have clubbed together to form a syndicate. The strategy is simple. Bet from Race one and keep going until the Syndicate is in front , no matter how small the amount. If the syndicate is losing then betting ceases if the losses exceed a preset amount.
So how much is that preset amount? My suggestion is that ten times your "target" is a good stopping point. To reach this point you have to have had ten more losing races than winning ones and that shouldn't happen too often.
To see a day in practice let's look at the syndicate's betting books for the 15th of April.
The syndicate follows the Winform Ratings which are available on the Winline GT-W computer program or as selected on the Internet or by phone on 1900 123 082. In the Hurdle at Mornington there are three selections. The third rated horse is paying only $2.50 but the dividends for the top two horses are quite good. They backed the top two and put just enough money on the third rated horse to get square. The third rated horse won.
Race one at Randwick and the top rated horse stands alone. A win and place bet looks a good option as it is paying nearly 20/1. Unfortunately, Stately Rhythm is not sighted and we lose our first race.
In Adelaide Race one the three horses are all at short prices and so a trifecta is taken as the best option. The three horses are stood out from all the horses paying $11 or less. The trifecta is won but the return is less than the outlay. This is the chance you have to take when placing trifectas.
Brisbane race one, and there is only one horse to bet because of the short price. This horse finishes fourth so we have now lost three races straight but no need for panic yet.
Melbourne Race one is another disaster and the syndicate is now well behind. Randwick race two is a race where the odds are too tight to make a decent profit, nevertheless the top rated horse wins without us. Adelaide race two is more promising but once again we miss out as our selection is just beaten in a photo. As we bet win and place, we do get our money back.
Brisbane two is another close result but we back our standout horse for a good win and we are now only little behind.
Then follows a run of three losing races and we are back to where we started before our Brisbane horse won. Back in Brisbane race three we see that there are five horses all rated close in a wide betting race. The best option is a five horse box trifecta at a cost of just $30 for a 50c unit. No worries. They come in like Brown's cows but they come in in the right order for a $233 collect. We are getting closer to a profit but we're not quite there yet.
Melbourne race 4 is a loss with the two selections running second and third. In Sydney race four there is a stand alone selection at $14, so an each way bet is the right option. Top Shot runs a good third and the gap narrows again.
Then follows another frustrating run of seven losing races. Frustrating because we only needed one more winning race to quit for the day. Look at Melbourne race six. Instead of backing our top three horses we decide on a quinella as the best option. Our third rated selection wins the race but our other selections runs third. A win only strategy on this race would have once again put us in sight of victory.
Randwick race six arrives and there are just two horses standing out from the rest in the Winform Ratings. Both horses are at good odds and we backed both win and place as even one of the horses running a place will pay for our bets. We also took a trifecta with our two horses to win and all the shorter priced horses to run second and third. This time it all happens at once. Our top rated selection Clarinda wins at $19 on the TAB and we also get the $685 trifecta. Not only did all the accumulated losses come in but we also made a handsome profit on the day.
It has taken just over three hours , but we have made more money tax free than most average workers can make in a whole day. On other days the syndicate has scored in the first race. April the 14th was one of those and one $50 outlay on the very first race returned $250 profit. We lent the TAB our money for just over one minute. Now that's not a bad rate of interest.