Part 2

Okay, so you are ready to rock and roll now. You have a bank, you have a staking plan prepared and you have a book or a spreadsheet to record everything ( and I do mean everything) you do.

The next step is to understand the mental side of punting which traps the majority into becoming consistently losing punters.

The single biggest mistake a punter makes is having too many bets. Whether it be through the thrill and excitement of of the punt, whether it be through over exuberance after a couple of good wins, or whether it be chasing losses. The first major rule to over come is to keep the number of bets you have to an absolute minimum. This will take patience, discipline & plenty of practice.

The worst thing that can happen to a punter is to have a large win very early on in their punting career. It makes the punter cocky, makes him falsely believe this is an easy game, one the punter can conquer at any time. This is especially true if the punter snags a big exotic dividend from a trifecta, a quaddie or a Big 6. Unless discipline is shown, the winning profit will be given back very swiftly. This punter will start losing very quickly, then chase  his losses because he blindly believes another big win is just around the corner. Don't fall into this trap, keep your mind focussed at all times on the job ahead and never, ever assume a winner is "just around the corner".

So, don't think it is easy to win. If you have a nice win, then withdraw the profits from your bank leaving your original starting bank in place. Give the wife or your girlfriend something material to show for the win, then get back to the hard work of finding another winner.

The second most important feeling to over come is the punter's need to have a bet. All punters have it, and this feeling encourages the punter to have more bets to get that adrenalin rush happening more often. Forget it, get it completely out of your system, show will power and discipline. This is a business, punters must treat it as such. If you continuously have the urge to bet for the rush, then you will not make the grade as a serious profitable punter. If the need to have a bet is an issue for you, the the best way to overcome it is simply to earn money doing other things and forget about punting. Serious winning punters, can go weeks without having a bet. Can you?

The third most important feeling to overcome is when you've had a bad day on the punt. We all have them, quite regularly in fact and don't think you won't. You've done your cash, your ego has completely vanished and you desperately want to prove to the world you are a good punter and you can get the money back instantaneously. Forget it, you can't. You've already made your final decisions for the day, nothing more to it. You can't reverse them, you can't make up more bets when there  are none. Go away from where you. Leave the race course, leave the pub, leave the home for a few hours, go and do something else with your time. Just stay away from bookies or TABs. Punters have to instil in themselves a hatred of losing, once you have this hatred, you won't chase your losses because you know you will only lose more. Discipline yourself to only have the bets you originally set out to have at the start of the day. If you have to, then place the bets early in the day, ensure you have no more cash on you, and can't access your punting accounts. Win, lose or draw, walk away after the last bet, and bet no more.

Punting is as much a mental game as it is finding good priced winners to show an overall profit. Control the mind, then the punter is half way to becoming a consistent winner. Don't think this will only take a nanno second to achieve, this will take many weeks, months or possibly years to master. Nevertheless, don't give up on it, once mastered, it is very much worth your while.

Now, you are not only set up to start, you have the discipline & resolve required to get serious about winning on the punt.

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Part 3

If you thought this was going to be easy, then think again. This is the beginning of the third article in the series and we haven't had a serious bet as yet. However, we have touched on a few of the basic but most critical aspects, so you are well armed to take the next step.

There are several important factors in punting, and being successful at the game. We mentioned in the previous article that punters should reduce the number of bets they have. This is probably the biggest issue most punters face.

Firstly, check out some on line form guides (see our road test on form guides here) and ready yourself with one that you feel comfortable with.

Then, let's go through some simple rules that will not only reduce the number of bets you have, they will save you plenty of money over the next few years. To do this we first need to look at a couple of basic facts in regards to what horses win races.

*    Over 60% of all winners have raced within 21 days of the race
*    Over 60% of all winners ran either 1st, 2nd, 3rd or 4th at their most recent run
*    Over 75% of all winners are either 2, 3, 4 or 5yos

Therefore, the first three rules you should base your form study on are:-

1    Only back horses that have raced within the last 21 days
2    Only back horses that finished in the first 4 at their most recent run
3    Don't back horses older than 5yos

Those three rules in themselves should stop you from having plenty of bets. And there is good sound, logical reasoning for them.

Punters want to back the winner of a race. The winner of most races is generally the best horse in the race, that is fit, in form, has a decent barrier, obtains the best run in the race, has a good jockey & track conditions to suit.

Now, to the first three rules add the following:-

4    Don't bet on tracks rated worse than dead (5)
5    Don't back horses drawn wide barriers, back barriers 1-7 only

Both of these rules are self explanatory. Horses perform differently on wet tracks in comparison to how they perform on dry tracks. If a horses is racing in peak form on dry track, it is an expectation that horse will continue to perform well on another dry track. However, if a horse is performing badly on rain affected tracks, and then strikes a dry track, then a form reversal is possible.

Barriers are critical at most starting points at most tracks. There is only one decent barrier, number 1, and they progressively get worse so iconic Queensland broadcaster of the 60s & 70s Keith Noud used to tell us. And not a truer word has been spoken. Some start points at some tracks are diabolical, like the 1200m start at Rosehill, or the 1550m start at Canterbury Park. At those starting points, horses in barriers 1-5 are the only considerations. In fact, from the 1550m start at Canterbury, it is easy for a horse drawn barrier 3 to be trapped wide all the way.

Make up a list of jockeys who are above average, and only back those jockeys on your list. Do the same with trainers. However, be flexible, make changes to both lists as often as necessary. When you see a young apprentice like Tim Bell rising through the ranks, add him to your jockey list. When you see a young trainer getting plenty of winners, like Matty Dale, add him to your trainers list. Alternatively, when good jockeys or trainers start reducing their numbers, then it is time to remove them from your list.

Look for horses that race well at particular tracks. Some horses run their best on their home track, others don't travel too well. Look for horses that like a certain distance range. Always remember, horses are creatures of habit, they will perform in a similar fashion when all the variables are to their liking.

And most importantly, when doing form, don't rush. If you don't have time to complete the form study properly, then either concentrate on one meeting, or even one or two races at a meeting, or forget about having a bet at all. To become successful takes time, discipline and patience, if you don't have the time to prepare, then don't have a bet. Like every job, preparation is everything.

Basically, keep your percentages up. Employ a winning strategy, and simply stick to it. Back horses that are fit, in form, from decent barriers, on good racing surfaces, that prefer the distance range & prevailing track conditions, with a good jockey and a good trainer. Don't try to predict form reversals, it is the hardest thing to do consistently in punting, and a quick way to go broke.

Okay, so log in to your favourite form guide and get started. Just don't forget the one rule that must be employed every day of your punting career. Record every bet, no matter how big, how small, don't lie, as you will only be fooling yourself. Think about the the bloke down the pub who always lets you know when he backs a winner, however he is quiet as a church mouse when he backs a loser. Don't be like him, be honest and open, tell all about every bet, win or lose or draw. Brag as loudly about every losing bet, as you would about a winning bet. In fact, be humble, take every bet in your stride.

Punters will have winning streaks, and they will have losing streaks. If punters accept this fact from the outset, learn to cope with all the ups and downs by controlling your mind thoughts, without altering an overall winning strategy, then they can be successful. This will not only assist in making you a better punter, it will assist in making you a better all round person.

Good luck & profitable punting to all readers.

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Part 4

In this article we will point a few of the basic flaws that turn most punters into losing punters.

The first of these gems of wisdom is quite simple. Never mix punting & socialising. Either go to the races to be a serious winning punter, or go for a social day out. You can't do both, not even the most experienced hardened professional is able to achieve this, so don't try it. And most importantly, never mix drinking alcohol with punting. It will turn your disciplined well oiled decision making process into one of a pure chaotic gambler.

The second thing a serious punter should never do is listen to someone else. Make your decision, stick by it no matter what. In this way, you can blame no one else if the horse loses, and congratulate no one else when it wins.

It never ceases to amaze us when we see mature well educated people sitting with their ear glued to a radio listening with baited breath to an interview with a jockey, a trainer, or heaven forbid an owner. What would an owner know about how their horse is going? When has a trainer ever been up front to the bloke paying the bills? And even if a trainer did tell the owner all, does the owner really understand what he ahs been told, after all, he is not qualified with horses, that is why he pays the trainer.

We all listen to trainers like Gai Waterhouse interviewed, spruking all who care to listen that her horse is a good thing and will win. Now Gai is a great trainer and does get her horses fit enough to win on most occasions, however she has no idea how the other horses in the race are going. There might be a horse having their first start in the race that has shown the opposition trainer he is as good as Lonhro on the track. How would Gai know this? There could have been a hard luck story for an opposition horse, a horse may have improved lengths since their last start. There are plenty of scenarios that trainers simply don't know. However, the astute punter should already have these facts at hand. And to be perfectly frank, as Gai over plays her horses chances, most other trainers will downplay them to the media in an attempt to divert attention from their horse, especially if they think it has ability and want to back the horse themselves and secure good odds.

And similarly, why would you listen to a jockey. He is never going to say, "Oh, I didn't want to ride this horse, I wanted to ride Gai's horse but Nash got on him first, so I had to settle for this ride." Of course he's not. Most of the time the jockey doesn't even ride the horse in track work, so how would they know how the horse is going? Jockeys want to be interviewed to promote themselves and their career. They will never be negative about a horse they are riding, they will only put forward the positives.

Okay, so don't listen to owners because they simply do not know how the horse is really going. Don't listen to jockeys for the same reason, and don't listen to trainers.

In fact, don't listen to the radio, read newspapers or watch TV tipsters. Make up your own mind. Punters must live and die by their own decisions, not the decisions of someone else.

The other people a serious punter should never listen to are other punters, especially losing ones. Make up your own mind, if they knew what they were talking about, they'd be living in Majorca on a million dollar yacht.

Don't ever get involved in get rich quick schemes on the punt. They are all doomed to failure, in fact they will cost the punter plenty. If they are so profitable, why are the people trying to sell it to you? Because they make money from you, not from the punt.

A punter should never study form or punt when they are tired, drunk, or when their mind is on other things. If you are not fully concentrating on the job at hand, then stop immediately, go watch some television or mow the lawn. A serious punter has t have 100% of his faculties to find that elusive winner. Maintain your focus at all times, and success will follow.

We have discussed in a previous part about reducing the number of bets you have. A few expansions on this are do not be in every race. No one, not even a pro who ahs been making a living off the punt for 50 years can back the winner of every race every day. And don't believe you can. Sure you may have a good day now and then, however the percentages are completely against you doing this on a regular basis. Be selective, pick and choose your bettable races carefully. Aim to have around 30 bets per month. If this amount is not enough for your adrenalin charged appetite, then go and take up macrami.

Finally, one rule that should be in every punters bag of tricks is never ever take odds on about a horse. No matter how good a thing you think the horse may be, do not ever outlay more money than you can expect to win on one bet. We all know the story of Ajax being beaten at 1/40. We all saw Octagonal & Lonhro beaten at their final race starts. There is no such thing as a certainty in horse racing, or in sports for that matter. And those who dabble in sports betting will be looking at odds on pops in almost every option offered by bookies. If you utilise this rule early in your punting career, it will stay with you for life and save you plenty.

Think about how many odds on favourites actually win. It's about 39%, so the simple mathematics tells us if you backed them you you must lose. To make odds on winners profitable, a punter would require a winning strike rate of over 70%, a percentage far too high for any punter to consistently achieve. History is littered with alleged mammoth punters who went broke backing odds on favourites. Don't follow their path, leave them alone.

Okay, so we don't mix punting with socialising. We make up our own minds about which horse to back, and we don't listen to anyone else. We reduce the number of bets we have and we don't take odds on. These are all an extremely good basis for any punter from which to launch their career.

Good luck and profitable punting to all . . . . .