As a punter, the odds are heavily stacked against you winning – mainly because of the bookie’s overround and the commission payable on all winning bets to the betting exchanges. As such, there is little latitude for error. You must remain disciplined at all times if you are to profit long term.
Before betting for the day begins, it is worth spending a little time preparing for the day’s betting exploits. As the saying goes ‘If you fail to prepare then be prepared to fail.’ or words to that effect. In other words, a plan or strategy for the day should be created. All that is then needed is to follow the plan. In this way, there are no decisions to make in the heat of the moment.
Once upon a time, in order to place a bet, it was necessary to pay a visit to the offices of a bookmaker. Today, this has all changed and bets can now additionally be placed over the phone and via the Internet. However, with this convenience and new technology, there are also associated risks that could have strong financial implications if things go wrong. This article looks at how to prepare for possible technology failure.
Before anyone starts betting on horses, or anything else, for that matter, here is a cautionary (true) tale. When I first started betting on horses, I used to transfer funds back and forth, from my then only current account, into the betting accounts that I held with bookmakers and betting exchanges. What a fool I was!
A number of people who bet on horses set themselves a daily profit target. When the target is reached, they cease betting for the day. The theory behind this is that the more bets that are placed, the more likely it is that a loss will be incurred. So, in order to retain the profit made on a given day, once the target is reached, betting for the day ceases.
The strike rate of a horse, in general, is reflected in its odds. While there are exceptions to the rule, statistics indicate that horses whose odds movement shows a downward trend in the last five minutes of betting before the start of the race win more frequently than those whose odds increase in the last five minutes of betting.