The psychology of a punter is determined by whether he (or she) wins or loses.
After years of observing the horse racing industry one would say that punters come and go. They all have their great days and their bad days, and to stay in the game long term is down to good management and the right psychology.
A special brand of courage is what makes a good punter: dedication and self belief is a necessity to survive. Those who have this know when to bet and when not to bet, and this edge means the difference between winning and losing. The mind set should always be: “I EXPECT TO WIN”. After all, that’s why punters place a bet in the first place.
To have the overwhelming feeling that they are going to lose is the reason that punters pick winners but never back them. Most of us have been punting for a good part of our lives, and it is a lonely business. Many people are so absorbed in the process when they are on the track and with trying to do the work between races and then losing, their heads turn into pumpkins. And in the process they lose both their money and their way.
Every punter needs to practice positive thinking. Believing in their selection process, system and staking plan and that it is right for them. They should always be saying to themselves: “I am going to be a successful punter”. That’s why they punt – to enjoy the fruits of their success. And not letting the losing spells affect their thoughts of doubts, depression and pessimism.
A positive attitude can make the difference between winning and losing. What else? Personal input. Many hours studying the form and replays can make an enormous difference. And strict discipline regarding staking can be the crucial pivot that means the difference between loss and profit.
And what is the very first goal a punter should have? A good bank. And keeping records is the only way to see if you are winning or losing, however, most punters don’t write anything down. It is extremely important to see what patterns are costing you money and what are making you money. Best Bets has had a ledger in the back page for many years, and it is very rare to see anyone using it. Probably one of the most fundamental mistakes a punter can make. And the reasons that most punters don’t seem to keep records seem to range from laziness, and expecting to lose and not win. They budget to lose before they even start. How stupid is that? It’s like going to work and not getting paid!
Most punters would consider themselves “small” investors, but if they kept records they would find that they bet an enormous amount of money in a year. Here’s an example. Say a punter goes to the races on a Saturday and finds that there are four major meets with an average of eight races each. A total of thirty two races. Placing bets of $10 on each race and a boxed trifecta, that’s a total outlay of $16 per race. And for the day $512. If this is done for say 48 weeks of the year, that comes to $24,576. And to outlay that sort of money from your hard earned cash why would you not put some time and effort into making it a winning feeling more times than not?
From my perspective, for the average punter its like lotto – the big win is just around the corner. The reality is that only a few win the big one but punters can become part of the few. Only a skillful minority of professional punters can win steadily and it is the average losing punter who provides the pools they draw from. And, as a punter, you should do everything in your power to join this minority. Hard work pays dividends and detailed work is required to beat the percentages stacked against the average punter.
The aim is to make the percentages swing in your favour. Anyone can do it with a winning approach to punting. Make a change and join the “minority” and be the successful punter everyone aspires to be!
Happy Punting!
Contact the team at RaceBiz today on 1300 RACEBIZ for all your punting advice and use the information and tips to be a minority punter with a big bank.