Most punters will say they bet to win money, but the reality is often different.
In our experience talking to punters over the years, many punters bet because they like betting, more then they want to win.
If you think that is a harsh or misguided comment, consider this:
Do you believe that you possess so much knowledge over and above the general market, that you could possibly bet into every race on a Saturday, into a 115-120% market and turn a profit?
Of course that’s not possible, but that, unfortunately is what plenty of punters do each week.
The adrenaline rush and the desire to be involved in races often overrides the desire to win money. The big wins are always remembered but the accrued losses over time are often forgotten.
At Red Belly, there is one objective only …PROFIT.
We will bet if we can find what we believe is an edge. An overlay does NOT always mean an edge.
We require certain other attributes to bet (i.e.) Fits in with the speed map & predicted tempo, is elevating and is fit (or close to full fitness) and is racing at preferred distance range and in most cases must possess a change of speed.
If those attributes are not there, we are happy not to bet and that could even mean leaving an entire meeting without a bet. We are loathe to take short odds and red odds in particular for non-mathematical reasons.
We have in the past made decisions not to bet at a meeting, which is difficult to do especially after having put upwards of 7 hours into the form.
Punting is 90% attitude – all the knowledge in the world counts for nothing if you don’t have discipline.
It’s easy to read this and say you are going to become better disciplined, but saying and doing are miles apart.
We believe the best way is to record ALL your bets and get yourself used to wanting to grow your investment whilst protecting the accrued capital, just as you do with any other worthy investment.
Of course , If you are betting on credit, chances are you are already entangled in the spider’s web.