...before you bet always, always, always check the odds of the races you plan to bet on. To be honest it's something that has never crossed my mind, until today when after placing my first bet - which resulted in a loser - I found that the following bets had ridiculous odds of 30/100. This meant I would have had to bet the best part of £50.00 to recoup my loss and make my daily profit. Thankfully I left well alone as the 'dead certs' didn't come in, but instead of walking away for the evening with a small loss I decided to have a go on the American tracks - which surprise, surprise all lost. As a result i'm £35.50 down, which I suppose serves me right for not sticking to my rules. So I guess there are 2 things I can learn from this:
1. Always check the odds of the races you plan to bet before committing any money...especially if there are only a few races running.
2. Do not bet on the American tracks.
On the bright side, i'm so pleased that I didn't stake £50.00 on the dead cert.
Daily profit: - £35.50
Total profit: +£39.00
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2 comments:
Don't lose confidence in your plan that's an important part of success. Eventually you will work out the problems that occur with a string of four or more losing bets as the wager amounts escalate.
Like I said before you may want to research and use a second favorite or a favorite with slightly longer starting prices which will enable you to have less of your betting bank at risk.
I follow your blog on a daily basis and it is a pleasure to see such a businesslike approach to turf speculation. Believe me you have the patience and discipline to carry out your plan for 2008.
I wish you nothing but the best of luck. I don't think you are going to need it though.
sincerely zappi
P.S. since I live in the United States I wager win and place ( place betting in the usa means the horse running second in the race show betting means the horse runs third).
When I have a losing wager I use a progressive wager on the second qualifier of the day. And so on. I do not have the benefit of the starting prices to guide my wagers but my goal as of 1 February is to achieve a consistent daily profit in similar fashion to your premise.
Take care Zappi
Hi Zappi, thank you for your kind words. What I was most annoyed about yesterday was that I deviated from my plan, if i'd have stuck to it and carried on betting on the Wolverhampton races (although missing out the 30/100 horses) i'd have been up for the night as usual. I think that the success of the previous nights must have gone to my head.
Thanks ever so much for your second favourite advice, i'm currently researching how profitable it would be. I'll need at least a solid months worth of research before i'm able to put any plans into action. I'm also looking into the profitability in betting on a horse to be placed - either come 1st, 2nd or 3rd, it will mean less of a daily profit but possibly also fewer long losing runs.
I'm also in the process of researching a system for the American tracks. I'm thinking that I might start to trial it in the next month or so.
Once again thanks ever so much for your words of support and best of luck with your betting - if you decide to start a blog let me know and i'll add it to my bloglist.
Take care.
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