HELLO, good afternoon & welcome to my latest instalment of punting advice. You'll notice that I've not been blogging as much lately. This is largely due to Grouse Season being in full swing and my penchant for getting out in the cold and doing a bit of shooting. I do of course love a bit of roast grouse in the autumn too, served with bacon, blackberries and roast pumpkin in a rich garlic suace. Fills the belly and keeps the vampires away at a stroke. What's not to like?
P is for points
All betting banks are composed of points, which are effectively a substitute for money, but simplified into 1-100, regardless of how much or little your bets are. Betting bank points are, therefore, percentage points and when a tipster recommends you place one point on a particular bet he means that you should stake one per cent of your betting bank i.e. the total amount of money you’re prepared to risk at any given time.
For example, you decide to put away £50 for a spot of betting fun and you read in a paper that one of the experts believes Manchester United will definitely win at Inter Milan. This coincides with your thoughts on the coming match and his reasoning mirrors yours. He reckons you should risk two points on United. This translates into £1 of your hard-earned (i.e. each of your ‘points’ is worth 50p).
If you had put away a betting bank of £200, for example, then a two-pointer would be worth £4. Obviously, if the bet wins, say it was quoted at 2/1 (3.0 decimal) then your return would be £12 including your original £4 stake, thus increasing your betting bank to £208. Your next bet would be a proportion of your £208 betting bank, so a one-pointer would be £2.08, a two-pointer £4.16 and so on. It's a breeze, as John Kettley might have once said.
P is also for Paper trading
One of the greatest weapons in any better’s armoury is the paper trade. What this means is that rather going in head-first, all guns blazing and throwing your hard-earned away on stuff you know little or nothing about, you decide upon what you would have bet on, then sit back and wait for the results. Note down on a spreadsheet who or what you placed your bet on and why, then see how much you would have won and lost. Note down how the events panned out and make references to anything you may not have taken account of, such as a star player being missing from one of the teams, a particular tactic one of the teams applied or factors such as historical form, disciplinary records and the like.
It is only after a successful run of paper trading that you should start putting the same techniques into action in real life. By paper trading a system first you’re guaranteed to not only save money but also make more when you’ve honed your system, ready to put it into action in the real world. Paper trading can actually be almost as much fun as the real thing. Don’t, whatever you do, paper trade with Her Majesty’s bank notes. That’s strictly the domain of a mug punter. Use Monopoly money. See how quickly you win or lose, then have a quick game of Monopoly. You don’t have to spend all your life betting. In fact, if you bet better you could quite conceivably give up after a few years and enjoy your winnings.
P is also for Professional Punting
You don’t have to be a professional punter to make a steady income out of betting, however, just a good one who knows his sure things from his no-hopers. Another old adage which applies beautifully to betting is “The steady drip fills the bucket.”
Greedy, unsuccessful mug punters will back long-shots and multiples time and time again in the hope they can win a large amount of money quickly. As you can see by the faces and the fashion sense of punters who frequent bookmakers, this isn’t a technique that ever works.
See you all soon - I'm off for a shoot.
Good luck and happy punting!