THE PSYCHOLOGY OF PUNTING
By Garry Robinson
My daughter's fiancée is a psychologist. He works for a major charity that deals with all types of addicts. People who take Drugs, are addicted to Alcohol and who are addicted to Gambling. These three evils are the major cause of what ails our society.
I am fortunate in that the vast majority of our customers and readers see their Gambling as more of an investment. In fact, you will see that we don't encourage gambling at all except in special circumstances. An example of this is when you take a Trifecta or some other Exotic bet. It is difficult to make an investment out of Exotic bets. You can win a lot for a little but you have to have substantial sums of money behind you if you intend to make these bets a large part of your betting action.
By and large, win betting, even betting two, three or more horses in a race, is a much more intelligent form of betting and far more likely to yield a profit. Your strike rate is likely to be from 30% to as high as 60% and your own feelings will be better. Quite often, punters get beaten by long losing runs, even if they are accepted as a normal part of punting.
In my new book (to be released in October/November) I detail three plans that work quite well but in April this year, they all failed to produce a profit. Using the Money Factory staking plan (available in print form in Make Racing Pay) all three plans eventually caught up on the loss and made profits during May and June. One plan which made $4,000 profit for the months of May, June and July, actually made over $8,000 when bet through the Money Factory.
Here is the question? Can you accept the losing run while waiting for the winning run to begin or will you give up half way through? And don't believe for one minute that we shouldn't use Staking plans. Even betting level stakes i.e. betting the same amount on each race, is a Staking Plan in itself. The majority fail when they suddenly decide after a few losers "there must be a winner soon" and then go out and double or even triple their bet. It takes great patience and strong discipline to utilize a Staking Plan and it has to be accepted that you won't be there for every possible bet.
This means that you have to look at Racing in terms of numbers. You might be betting a plan that gets 40 winners in a hundred but one group of 100 bets may yield 30 winners and another 50 or 60 but eventually it will even out. For you to win you have to look at the big picture.
I recall watching our Success Express selections bobbing up and down in the one spot for months. Some months it was winning and others it was losing. Betting level stakes was making no money at all in spite of a healthy 40% strike rate. The answer was to use my Money Factory Staking Plan. Using this plan meant that when the strike rate and dividend was normal, I bet relatively small bets which were profitable. When the strike rate and or dividends faltered, I was betting larger bets but at a predetermined bet level based on how the selections were performing. Eventually I would hit the front again and resume normal betting. Each time there was a lower level of winners I was losing and each time the win rate picked up, the losses were recouped and the winnings came in even though on level stakes I would have made a lot of bets but collected no profit.
It is more work to do and this is why so many fail. There are actually very few plans where you can simply "bet and forget". The Money Factory Plan is available in a software program that allows you to set all bets at once but to do this properly, requires that you operate several Banks or reduce your bets to levels that allow you to cover the new style of outlay. You also need more patience.
If you are the sort of person that loses control easily, you simply should not punt unless you have spare money to bet for fun. On the other hand if you have money and patience as well as a sound selection plan with a known history, you can safely operate a quality Staking Plan such as Money Factory. For more information on Money Factory, click here.