by Dave French

August 5, 2013

Well it's week two of tent life for me and although you are reading this in August, I am writing it in late July. Let's hope the weather has held up.

This week I'm going to share some words of wisdom on the skills you need to actually make money from betting.

I'm not talking about systems or form reading but instead the mindset and management skills.

I'm sure you will have read somewhere at some time the staggering statistic of the percentage of people that actually make a profit from horse race betting each year.

The figure that I see bandied about is that only 2% of all bettors are consistently profitable.

I have no idea if that's a true representation of the situation and because I get to hang out with a lot of people who make their betting pay I don't really have an idea about what percentage of the total betting public these people make up.

Assuming the numbers are correct then they should really be a wake-up call for anybody that either wants to take up betting or is involved in betting.

As with most things, there's good news and bad news about those statistics. The good news is that if 2% of those people are able to make a profit, it means that it is not impossible. The bad news is that if only 2% can make a profit, it's not going to be that easy.

Now we've all done it, we see those figures, and we let it drift over our head and think “I'm different, that won’t happens to me, I'll be one of those 2% people”. We have a go at betting and low and behold we realise that in fact we are not in the 2% but are actually one of the 98%.

This week I'm going to share what I consider the golden rules for making your betting pay.

Starting today with – Determine Your Betting Goals

In life, those that have vision, and map out the process of how they want to get from point A to point B stand more of chance of getting there successfully than those that don’t map out this process.

With betting, if you wander aimlessly trying this trying that, then you are sure to end up with a losing bank.

To operate betting without a vision will ensure that you remain one of those 98% of bettors that are not profitable.

Here is an example of a realistic betting vision: –

1 – I will research and find five systems or tipsters that have a good long-term historical strike rate.

2 – I will set aside a £1000 bank, and will set up and implement staking and strategy to protect that bank.

3 – I will implement sensible staking, and operate non-aggressive staking plans to maximise my profits potential.

4 – I plan to increase my bank by 100% in the first 12 months, and this will be achieved by following my profit strategy.

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My thanks go to the Betting Insiders Club who inspired this weeks posts – Find out more about the Betting Insiders Club at http://bettinginsiders.com

Todays Selection courtesy of the Betting Insiders Club

Saturday’s selection Slip Of The Tongue (adv EW 11/2) thankfully read the script and having made the running went clear with the jockey looking round over 1f out, winning unchallenged after being backed into 9/4!

For today we are taking a punt on a juvenile making its debut in Nursery Handicaps after 3 runs in maiden races. The trainer Ed Mahon has a 21% winning SR in these types of races over the last 5 years and also there are reasons on breeding that Kopkap may have more to offer now switching to handicaps off a mark of 55.

Kopkap (1430 Wolv) 10/1 EW – PaddyPower/Stan James/Ladbrokes

Disclaimer: All views and opinions expressed in this article are those of the author and do not necessarily reflect the official policy or position of TGH Trading Ltd or it's employees.

About the author 

Dave French

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  1. its no use just finding 5 systems or tipsters which have a good strike rate (backing odds-on favourites gives a good strike rate). They must make a decent profit as well – so ROI and maximum expected Draw-Down are also very important. Also of psychological importance is the maximum expected consecutive loss sequence.

  2. I once read that 33% of all favorites win. Therefore if you reduce the fields to say 8 and the price to 6/4 or shorter then wouldnt that improve the strike rate dramatically and ianf spot on with his comment above ?

  3. This piece is very relevant for me right now as its exactly what im looking at doing.Im currently searching for tipsters/systems to use for this.I have an amount im going to use and have a separate bank for each.
    I look forward to more comments and articles about this and especially any advise on good roi tipsters / systems.

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