Education of a Punter / Gambler via Pro-Punter

[Barny]

I've read all the posts here (or near enough) and I've learned the difference between going to the races and looking to back a 5/1 winner as opposed to a long term investment strategy (albeit a changing scenario) concentrating on a Return On Investment.

Psychology it's a 180 degree shift for me from an "experienced" punter to a more informed punter. I'm now certain I can do OK following a decent system, and I'm confident I have the knowledge to eliminate those horses that have the odds against them. Having said that, I'm 100% certain I couldn't be in this position if I hadn't done the hard yards early days (or years / decades), and also learned from my experiences, I wouldn't appreciate what this site (posters) had to offer.

It's my perception that the information on this site is pertinent only if you have the experience to "understand" the message.

The knowledge I've gleaned here has been enlightening, and in a lot of cases confirmation ..... but without doubt of immense significance for me going forward.

A grateful Barny, who will contribute where I can, and who will access and purchase systems from our host.

On a side note: I believe this site is suited to those who enjoy the punt and racing. I doubt you'd get the problem gambler here as there's just too much to discuss and digect !

[wesmip1]

It's my perception that the information on this site is pertinent only if you have the experience to "understand" the message.
Very true. If you haven't done the hard yards you don't know what advice to listen to and what to throw away. There is as much junk knowlege out there as there is good stuff. Experience will give you a gut feel for what is good. From what I have read you are taking the first step to being a better punter. There are many more steps ahead and if you apply yourself to it you will make a profit each year. I find most people go through the following stages:

1. Novice punter . Just backs favs, doesn't do any form study. Might follow tips or whats on the board at the TAB.
2. Beginner punter - Learns about form and trys to find systems. Moves from one system to another but never really gets anywhere.
3. Intermidiate punter - Almost breaking even or pushing a small profit and these guys usually look to staking plans to get that extra profit. The biges tproblem here is bank and bet size and not understanding money management properly. They may be using bought tips or ratings.
4. Advanced punter - Consistently making a profit but still has the occsional bad period due to not understading and monitoring their edge. They usually understand money management and know how/when to bet.
5. Evolved punter - Understands money management and risk management (very different to money management). Analyses their results using advanced maths to ensure they constantly have an edge. Consistenly making a profit.

I reckon there are 75% novice punters, 25 % beginner punters and about 5% intermidiate punters. There are then 4% in the advanced punter and 1% in the evolved punter categories.

[garyf]

Hi barny.

And on the journey between 1-5 is also handling the psycological aspect as you progress each step of the way my hardest fight was the one i had to fight in my mind.

Money lost nothing lost.
Confidence lost everything lost.

[darkydog2002]

All of the above and keeping a sense of humour.