Are You A Mug?

| June 27, 2018 | Reply

Today is the second instalment of a brand new series called ‘The life of a racehorse owner’ which, would you believe, is about the life of a racehorse owner!

The owner in question is Mel Gee, who you may well know from his successful Nags to Riches service.

This is a series that I am personally really looking forward to as it will contains some fantastic behind the scenes insights into the racing world that could really help aid our betting.

I hope you enjoy it and, if you’d like to contact Mel, you can do so by emailing bettingrant@agorapub.co.uk

Matt Houghton

P.S. Mel’s tipping service offers a fantastic 12 month money back guarantee if his selections fail to make a profit. If you’d like to give it a try you can do so by clicking this link.


Having started right at the beginning in my first article, I thought I would move on a little further to advise/suggest what you need to do to become more professional, more successful, and more likely to make your betting profitable, long term.

How many times have you heard the phrase, “It’s a mugs game”? A lot of times I suggest? And that phrase is almost always associated with horse racing, betting, and getting out on the favourite in the last race. And, do you know what? I agree.

It is a mugs game more often than not. Why is this?

It is quite simple really. The average punter is not a disciplined punter. He has a pocket full of money and heads off to the High Street bookmaker or funds his online bookmaker account and bets a small stake on the first horse…

It wins!! Great, he is in profit. Does he stop betting? Take the profit and run? Of course not! He is on a winning streak!

So, the next bet is placed with a larger stake. Often the next stake is part the winnings from the first bet plus the original stake, because the next horse selected is better than the first one so this surely wins; but the bet loses.

Got to have another bet now because that loser was a little unlucky in running, or the jockey waited too long before mounting a challenge or any other reason that can be taken from an endless list of reasons…

And so the day goes on, and, as with most punters, there is  no discipline, no betting bank, no money management, no proven method of picking out horses with reasonable chances to win, no staking plan and so they end up betting on the favourite in the last race to “get them out” of losses made.

Absolutely crazy! But this scenario, or very close to it, happens daily to punter after punter. That is why you don’t see a poor bookmaker! It’s a well-worn cliché but often so very true.

Bettors do not know how to bet, it is as simple and as straightforward as that. How do I know this to be true? I used to be that punter, that’s how.

I was alongside 98% of bettors who lose on a regular basis. What a statistic! Just 2% of Bettors, long term, show a profit.

Do you recognise yourself in this scenario? Read the above again and be honest with yourself. Do you see yourself now, or close to it? Yes? I thought so!

Thankfully, believe it or not, I got lucky.

My passion has been all things horse racing for more than 45 years, and I eventually got tired of losing. I had a wealth of knowledge, but I couldn’t piece it together. I had discovered these “nuggets” but I didn’t trust them! I was still making the same mistakes…

For example, a horse’s form was on good ground, today was soft ground, and I still backed it! Madness! I knew the likelihood of it winning was reduced, but still I paid to find out!

I needed to learn discipline. I had finally lost enough money to make the changes I knew I needed to make if I was going to continue in this sport.

It was like owning a 1000 piece jigsaw all jumbled up in the box. I needed to step back and make this jigsaw into a masterpiece!

It took some time, a lot of discipline and courage, but I did it. I can now say, honestly, that I am in the 2% of bettors who make a profit, long term. And I was back enjoying the sport that I had loved for so many years.

The changes I made then are with me today. The “nuggets” became rules, set in stone, sacrosanct…

I feel I must add here that how I approach a race is different from most. Most look to find the winner of a race, I don’t. Surprised? I think you might be.

I look to see if there is a horse I am going to bet on, in line with my rules. If the horse fails just one rule, then it is no bet. I don’t argue with myself to make it a bet, not now.

My approach, though, is not 100% correct in selection, of course not, but the exceptions continue to prove the rule. Basically, by applying these rules, it reduced considerably the number of losers.

But that was not all that needed changing…

I had to change my mind set with this new found discipline.

I needed to learn to wait for the opportunity to present itself, and opportunity wasn’t there every day.

I needed patience.

Next up was a betting bank, a bankroll. I needed a sum of money completely devoid from any other commitments. This money was for betting purposes only with no other pressures added to it.

I started to use a point based bank:

One Point = £xx (my choice) multiplied by 25 Points = £xx Bankroll.

I felt armed and extremely dangerous. An approach I knew would win long term. I had discipline and the patience to wait for the right time. I had a bankroll. I was ready to win.

I ought to write a book!

Good luck to us both,

Mel Gee
Creator of Nags to Riches
The Betting Rant

Email

Tags: , , , ,

Category: Betting Advice, Free E-Letters

Leave a Reply

You must be logged in to post a comment.

Not yet a member? Join Betting Rant free and get access to all the members only content including free betting systems!

Already a member but haven't registered yet? Please follow the links to the registration page in any email issue of Betting Rant from 12th July 2012 onwards.

Discover five proven ways to beat the bookies for FREE

Sign up here and I'll immediately email you Five ways to get a mathematical edge on the bookies, worth £40, COMPLETELY FREE of charge… what's more you'll also receive my e-letter, The Betting Rant… and again, it's COMPLETELY FREE.

I respect your privacy and will never pass
on your email address to anyone else.

X
© 2019 Betting Rant. All rights reserved. | Agora Lifestyles Ltd, Registered office: Curzon House, 24 High St, Banstead SM7 2LJ | Registered in England No. 3303666. VAT No. GB 629 7287 94

Gambling is high risk, never bet with money you cannot afford to lose. Please gamble responsibly, for information and advice visit the gambleaware website at: www.begambleaware.org. This content is not intended for audiences under the age of 18 years of age.