With Red Belly’s betting year now into its second week, our form expert Ed Kennett is offering punters an insight into how to take your betting to the next level in 2014.
Below are Ed’s top five practical tips for improving your betting:
1. Keep Precise Records
If you run any business you need to keep records and receipts.
They enable you to analyse income, expenses and profitability. So why should it be different with your betting?
Unless of course you are ashamed of your results or you are dishonest with yourself, in which case you have a problem.
I record every bet I have (Red Belly provides its members with a personalised spreadsheet on request), and you need to as well.
2. Keep Your Betting Bank Separate
Make betting a business and treat it with the same respect.
I see so many blokes fail, and hear the most concerning reasons why they missed a good day ranging from:
• I didn’t have a bank and lost yesterday and had no money left to bet with today
• Couldn’t bet because the rent or rego was due
• My pay wasn’t due till tomorrow
Seriously, no businessman would ever say that.
While Red Belly members have reported buying boats, holidays and all sorts of toys with their profits, they don’t dip into the bank through the year to fund them.
Make sure however, that after a good year, you reward your effort and pay yourself a dividend before the next year commences.
If you are not making a profit, please tell me, why the hell are you doing it?
3. Plan Properly
Formulate your opinion before the actual mechanics of betting or trading begins.
Trying to study form between races on the run is not possible, and leads to quick irrational speculative betting that will not finish anywhere near profitability, or break even.
Listening to the television interviews or radio will play with your mind.
Ratings or opinion needs to be ready before race one; all you should be doing is making investment or trading decisions from that point on.
4. Be Realistic
Everyone I talk to wants to quit work and be a pro punter, but they wouldn’t even consider it if they spent a week with me.
They would be asleep on the floor of my office or asking “when can we go and eat?” or “I need some sleep”.
The hours are long and some tasks are menial and tedious, so you’ve gotta love it!
So why is it that everyone thinks they can do what I do, no problem at all?
I certainly do not suggest the same to my doctor, builder, plumber etc.
Seriously, do you believe that I could just walk into your career and do what you have been doing for the past 14 years and be an instant success?
If you think you can do it, great, but do an apprenticeship period and learn while you are working.
Ask questions, keep records, analyse them and start small and see if you have what it takes.
There is no shame in working and being a recreational punter, but my point is, why not get real good at it and prove to yourself that you can show a consistent profit for a few years, before you give it a try.
5. Follow A Winner
The following is not a plug for Red Belly Sports, it’s a fact – Winning consistently on the punt requires at the very least as much time and effort as any full time job.
If you work full-time (without even factoring in a wife and kids), it’s unlikely you will be able to devote enough time to form analysis to be successful.
That’s where we come in.
A Red Belly Sports membership makes it possible to make substantial yearly profits on horse racing, simply by following our highly successful SMS selections and staking strategy.
We make profits for members every year, and there are plenty who will happily attest to this fact.
Red Belly Platinum Members won 263 units in 2013.
For a $100 per unit punter, 263 units equates to a profit of $26,300.
Anyone interested in coming on board with Red Belly can do so for as little as $45 for a One Day Ratings package.