first to retire & go professional (punting)

[bayman]

mal already 'retired' (due to illness) & semi professional so he is out of the equation

mt 5/1
punk 6/1
bayman 7/2
scd 4/1
dutchy 1/2
a.g. 5/2
quote others (sounds like johnny !!!!)

[mighty_tiger_79]

DISS would be there at about 6/4 his record with Dutchy isnt too bad on the american stuff.

im taking it all serious from the january 1st

[Dutchy]

its a tough ask to become professional, need a bank of around $100k to start with!...Ive read plenty of stories, info etc about successful punting and follow these rules -

- Keep records, Ive started this earlier this year, it makes you more accountable and not flitter away the dollars
- Patience, dont force bet, wait for the right one, if unsure its a no bet
- If you have the chance to lock in a profit, do it
- Study, Research and find experts that you believe in
- Aim for a ROI of 15-20% of 12 months, thats what the Pro's do...
- if betting even money lines, a WL record of 65% is very good
- You'll make mistakes, learn from them
- Amateurs work until they get it right...Professionals work until they can't get it wrong...
- Dont chase losses, punting is a marathon not a sprint

Its just some basics that has improved my punting out of sight over the past 12 months...hope it may help others

[RustyCage]

Whats ROI?

[ORDoubleBlues]

Whats ROI?

Think Dutchy means Return on Investment.

Interesting points there too Dutchy.

Apparently Robert De Niro's character in the movie "Casino" was really that good at gambling in real life and he was fastidious about collecting information about what he was betting on.

[another grub]

Yes its a dream we all have.... study the punt and make a living out of it..... the sooner that day comnes the better!!!

[Wedgie]

I'd be backing the bloke who won the Spring Racing Carnival comp, if he can do that with a sport he knows nothing about imagine how he'd go with a bit of study or gambling on things he does know about!

[another grub]

he wouldnt go by the theory 'odds on -look on' .... thats for sure

[Dutchy]

Whats ROI?

Think Dutchy means Return on Investment.

Interesting points there too Dutchy.

Apparently Robert De Niro's character in the movie "Casino" was really that good at gambling in real life and he was fastidious about collecting information about what he was betting on.

spot on ORD - if you get 20% return on your money over a prolonged period, tax free mind you, you are doing well...if anyone thinks you can do better your kidding yourself

[mighty_tiger_79]

ive heard a system from a semi-pro (not one from hanson rd) that you aim to win around $70 a day which = $490 per week tax free!!! It shouldnt be that hard to do, put $70 on something at $2 and theres your profit!!!!!!!!!

but what happens when your first bet lobs and you are $70 or more up?

do you keep going trying to maximise it or do you walk?

thats where DISCIPLINE is required, and more often then not us MUG PUNTERS keep on going and more often then not after a few hours we are wishing that we walked!!!!

I know a bloke who regularly goes to casino and he wins in the first hour that he's there, but because he's driven 45 minutes or so to get there, he doesnt want to go home and will spend hours in there!!!!!! usually losing the profits plus the bank.

I agree with DUTCHY that you must keep records and you must be honest, no creative accounting and you must keep doing it regardless of the outcome, because when the winning streak is happening we cant wait to get the book out to update the figures, but when its losing, its like ill do it tomorrow!!!!!!!

ive done that a few times and after a while the figures dont look too good and you dont want to face reality so you ditch it and promise to start again!!!!!

im coming up with all different types of systems both in finding the selections and then staking plans as well.

ill get them all sorted by x-mas and will run them on paper for next year and see what the outcomes are.

with all the tips we get from BAYMAN, DUTCHY, MAL, DISS we should easily be making a second income!!!!!!!!!!!

[our_longreach]

how do professional punters get around tax implications?

[mighty_tiger_79]

interesting question, i think because its their employment they pay tax on their earnings and can claim tax on all sorts of stuff.

I know a bloke who was thinking of going professional, went to the tax office and they told him that if you are winning less then $60,000 a year we dont care!!!!!!!!!!!!

[Booney]

What are the odds on one of you blokes becoming a bookie

[Punk Rooster]

What are the odds on one of you blokes becoming a bookie

London/brick

[mighty_tiger_79]

What are the odds on one of you blokes becoming a bookie

GIVE IT A NAME!!!!!!!!!!!!!!!!!!!!!!!!!

[Dissident]

ive heard a system from a semi-pro (not one from hanson rd) that you aim to win around $70 a day which = $490 per week tax free!!! It shouldnt be that hard to do, put $70 on something at $2 and theres your profit!!!!!!!!!

but what happens when your first bet lobs and you are $70 or more up?

do you keep going trying to maximise it or do you walk?

thats where DISCIPLINE is required, and more often then not us MUG PUNTERS keep on going and more often then not after a few hours we are wishing that we walked!!!!

I know a bloke who regularly goes to casino and he wins in the first hour that he's there, but because he's driven 45 minutes or so to get there, he doesnt want to go home and will spend hours in there!!!!!! usually losing the profits plus the bank.

I agree with DUTCHY that you must keep records and you must be honest, no creative accounting and you must keep doing it regardless of the outcome, because when the winning streak is happening we cant wait to get the book out to update the figures, but when its losing, its like ill do it tomorrow!!!!!!!

ive done that a few times and after a while the figures dont look too good and you dont want to face reality so you ditch it and promise to start again!!!!!

im coming up with all different types of systems both in finding the selections and then staking plans as well.

ill get them all sorted by x-mas and will run them on paper for next year and see what the outcomes are.

with all the tips we get from BAYMAN, DUTCHY, MAL, DISS we should easily be making a second income!!!!!!!!!!!

Just out of curiosity, where does he drive 45 minutes from ?

Here's some information : http://www.smartbetonline.com.au/interviews.php

[mighty_tiger_79]

noarlunga, but he includes time to park car and get into the building etc.........

[Dutchy]

Yes MT79 the 2 biggest traps for gamblers are GREED and DISCIPLINE, very hard though!!!

if everyone who was $20- up at the casino walked out they would go broke, its greed that makes the casinos the winners, how many times have you been up $200 but walked out with less/nothing?

Ive tried to breakit down into daily punting and if I get ahead I make sure I stay ahead for the day and set myself a portion of my winnings to "play" with...if you get a profit every day you will never lose!!! tyr to think long term not short term is part of the discipline thing.

As mentioned in the other thread Im following a couple of systems in the NBA and NHL which have proven to be successful over the past few seasons if you have the patience to wait for the right games....they are both showing a profit so far but will be interesting to follow them as the season progresses. Ive got a spreadsheet from a guy on another forum with all these different systems and tracking sheets telling you what and when to bet etc, havent had the time to have a good look at them yet but could be interesting.

Im following an interesting "double up" system on a US forum at the moment and may give that a crack shortly...seems to work well, need a good bank though.

[mighty_tiger_79]

in one staking plan they tell you to always pocket half of any profit, no matter how big or small and i dont mind that idea.

Say you are punting to a target and you get a result eg - target $100 but collect $140 you put $100 into the kitty plus $20 and just play with the extra $20 and see what that can turn into.

i like the idea of breaking it up into a daily process, basically one step at a time..........

[bayman]

What are the odds on one of you blokes becoming a bookie

booney, our friends dutchy & ag among others have a betfair account where you can be both punter & bookie