7 Basic Tips for Better Punting

Betting on the ponies still involves a degree of chance, but you can better your odds of winning and, dare I say it, make a profit if you follow some guidelines that put the odds more in your favour.

So let’s look at some top tips to help achieve this result.

#1 – It Takes Money To Make Money

It’s highly unlikely that you’ll make any decent cash placing only minimum $1 bets all the time, not unless you get lucky on a long shot, or a far fetched trifecta pays off.

Like most things in the world we live in, you need to invest a bit of money to stand a chance of making a good return. The flipside of that is the risks are also greater. We’ve all heard the saying “with great risk comes great reward”, but only ever wager an amount of money you can realistically afford to lose, just in case things don’t go your way.

That being said, you’ll still need to be willing to take a chance and place a bit more money down if you hope to win handsomely.

#2 – Don’t Follow Your Gut

Instincts are real and they do come in handy. However, when it comes to betting on horse racing, form is likely to be a far more reliable guide than your gut feeling.

If you’re getting that nagging feeling that an unfancied horse is going to romp home and that illogical sensation just won’t go away, maybe take a chance and toss a few dollars on that particular horse, but it’s not a good strategy to continually place bets based on gut feelings.

#3 – Don’t Always Back Favourites and/or Long Shots

Favourites only win about 30% of the time, and the long shot very rarely wins a race. That’s why it’s got such high odds in the first place.

Always backing favourites or always punting on the hope of a long shot getting up is a sure fire way to lose your funds. Even the race favourite in the Melbourne Cup has only ever won 23% of the time over the history of the race.

#4 – Study Recent Form

Form guides exist for a reason and regular punters go through these form guides for a reason.

They help you place smarter wagers.

If the goal is to try an actually make a profit from the race track, then it only makes sense to study the form guides and get a better idea of which horses and jockeys are currently doing well over certain race distances and on certain track conditions.

#5 – Live the Lifestyle

To become a true master at horse race punting you’ll want to immerse yourself in the lifestyle as much as possible.

That doesn’t mean racing out and buying your own racehorse or becoming a trainer. I mean, go to the race track and watch live races. Watch the racing on TV when you can. Study form guides. Read up on punting and all things horse racing on the internet. Talk to and get to know some punting veterans. You’ll be surprised what you can learn from them, saving you time and likely money as well.

#6 – Adopt Risk Management

This basically means never betting more than you’ve allocated to spend each time you wager on the ponies.

Let’s say you want to place some bets every Saturday and you allow yourself a betting budget of $100. Stick to that figure. Even if you lose the $100 on the day, don’t throw in more money trying to make up for the losses. Save it for next week, starting again with your $100 pool.

#7 – Become a Master of Certain Bets

Instead of just randomly tossing your money on a variety of betting options, aim to master just 2 or 3. For example, if Trifectas and Quinellas appeal to you, then learn all you can about these two types of bets and devise strategies for winning consistently on Trifecta and Quinella betting.

Don’t hop around all over the place like you’re walking on hot coals and place bets willy nilly. Be cool, calm, methodical and become a master of your craft. You’ll have far more satisfying results that way.

Category: Betting