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Gambling Styles Winning and Losing

There are major differences in the way people choose to gamble on horse racing. Broadly speaking, there are two real types of "punters" - recreational and serious.

Recreational punters make up about 90% of those playing - serious punters account for the other ten percent but I would suggest make up about 95% of those that could be said to be even or slightly in front at the end of the year (whenever you may decide that year actually ends). Really there isn't any "middle ground" - you either win or lose.

So what are the differences and what aspects of your day to day betting behaviour do you need to change to join the "other" group?

Serious punters start every day knowing exactly how many bets they are going to have, how much they're going to punt on them and when the day is "over".

Recreational punters on the other hand bet haphazardly throughout the day, have bets in a few races one day and every race the next day and don't know when their betting day is going to be "over" as this depends on "how they're going" at any given time. They bet with no "time plan" and no definitive "end bet".

Serious punters mostly bet the same amount and in the same proportions to chance day after day, week after week, give or take 10% totally regardless of whether they are winning or losing at any point in the process.

Recreational punters adjust their bets according to how they're feeling at the time, hunches and whether they are in front or behind at the time of the next bet.

Serious punters don't bet randomly. It is all according to the "plan" they have decided upon and they won't be swayed by any hot tips, coat tuggers, radio tipsters or the bloke next door.

Recreational punters bet when they are bored, have bets just for the sake of "having an interest" and chase those inevitably losing bets for the rest of the afternoon and evening trying to recover the $$$ lost on those "interest" bets.

Serious punters ALL bet to a "system" of some sort - based on historical data and statistical formulas that indicate why some runners may have a better chance than others - BUT always in virtually the same amounts bet after bet after bet if they believe that analysis will see them in front over the long term.

Recreational punters will generally rely on just one factor out of the ten that the serious punter relies on and unless you base your decisions on more than one factor, like who won last time out, you may as well just toss a coin. Tragically, a lot of recreational punters do that. Tragically for them but advantageous for the serious punter because they get their money from the recreational punter - that's just the way it is.

Serious punters NEVER get emotionally involved with their bets. One is the same as the next. In the long run they are confident they'll end up in front.

Recreational punters get emotionally involved with every bet - get angry, depressed and often become abusive to those around them.

Serious punters understand the percentages. They know that over a year if they can win 10% profit on turnover they're on a one-off, never to be repeated, good year.
5% profit on turnover is sensational. 1% is acceptable.

Recreational punters think they can win on every bet they place. No one does. Ever. EVER.

Serious punters know what they are best at - gallops, trots or greyhounds and rarely wander in to any area they know they are not BEST at.

Recreational punters will "have a go at anything" - trots, dogs, horses, football, American Grid Iron, hockey, AFL, first scorer in a rugby league game - you name it - let 'em on.

Serious punters have a defined bankroll they can afford to lose - they don't want to - but they know it can happen and IT DOES. They typically wager no more than 2% of their bank roll on ANYTHING - even the Black Caviars of this world - 2% pulls them up as they regard anything else as financial suicide.

Recreational punters OFTEN bet with money they need for other "stuff". Often if they are losing 50% of their bankroll, they'll have the remaining 50% on whatever is up next so they can "get square" in a hurry.

So which group do you fit comfortably in to? Which group do you want to belong to? Your choice.

© 2012