Originally Posted by jfc

Assume for argument's sake that TheEasyRun is genuine and might actually have something of interest to contribute.

Why on earth would he want to continue now?

He has clearly been welcomed with prejudicial hostility which is obviously set to continue.

Not just from Chrome Prince.

Now apparently his crimes are "saying nothing new" and "saying very little". There are very few here and everywhere that could pass those tests.

And the so-called challenges are far bigger offences than anything he might be likely to say. But don't get me started...

This joint will continue to remain in its prolonged rut while antics like this prevail.

Originally Posted by TheEasyRun

Hi guys.

This is not a post intending to upset anyone, as punting is a game full of memorable moments that I would never wish to take from anyone. It is however a small collection of what I have learnt in the game over the past twenty seven years, posted up to give food for thought to those who would like to take their punting activities to a higher plane......... those who would clearly like to punt horses for a living, or very close to it.

First up, a few basic misconceptions.

1. So called big money "professonal punters" really are not. They are men propped up by money from their buisnesses, inheritence or high incomes, or from stake money hits from horses they own.
In essence they are big money gamblers, not pro punters.
They all have one major thing in common.....they did not get their money from the punt, and if they had to start from scratch and punt up a liveable betting bank they would soon starve!

2. It is a falacy that a massive turnover is needed to show profit over time.
This is for men who have that poor of a selection and staking method, that a very large turnover of money is needed to capitalize on a very skinny profit margin. In reality these type of punters last only as long as other money (or imagination) is proping it up.

3. It's quite false that a very high starting bank of $10,000 to $30,000 or more is needed to start a betting bank off. And false also is the thinking that the bank must be turned over and over like it was inside a washing machine.
The fact is a betting bank must be protected from heavy turnover!

Here is another fact, if the average man clears $30,000 a year in his regular employment, then to match that in punting earnings, he can start off with a bank as little as $4000. And still keep his job. Nirvana for the average bloke on the punt would be around $50,000 a year.....roughly $4000 to $5000 a month. A $6000 starting bank for that is plenty.

4. It goes against any real common sense that an ** School Teacher, Mathematition, Engineer, Accountant or any highly educated induvidual, can come up with a numerical/class/time rating system that leads to first a steady income, then on to great wealth.
It simply cannot be done.

Those are just a few misconceptions and there are of course plenty more, but I would rather go on to selection and staking methods, punting psychology, how to relax into a life on the punt, and why you should never except odds on any bet unless it can return you over $7 to the dollar.

I will post the rest up tommorow in Part 2, and then in Part 3 on Tuesday.

Happy Hunting
TheEasyRun

Originally Posted by TheEasyRun

Name one big money Professional Punter that makes his sole income on punting horses here in Australia. Just one. (sponging commission agents not accepted).
The only men that even come close are the boys in the States that turn over massive amounts on exotics, just to recoup a turnover bonus from the totes.
Their profit, funnily enough, averages out to the figure of the bonus. One bad year and their nervous, two in a row and their dead in the water.

The 'great' ***** did not make a betting fortune on the punt. He in fact lost all his money on the punt.
His selection and staking methods were seriously flawed. He only managed to survive with 66-1 shots carrying an increase in stakes. He did not last long. He was one of the great falacies of Australian punting.

Originally Posted by TheEasyRun

Name one big money Professional Punter that makes his sole income on punting horses here in Australia. Just one. (sponging commission agents not accepted).

Originally Posted by Chrome Prince

1. So called big money "professonal punters" really are not. They are men propped up by money from their buisnesses, inheritence or high incomes, or from stake money hits from horses they own.
In essence they are big money gamblers, not pro punters.
They all have one major thing in common.....they did not get their money from the punt, and if they had to start from scratch and punt up a liveable betting bank they would soon starve!


Agreed. Usually they started with big money and know how to handle it.
So, although they are now pro, started with a big bank behind them.


2. It is a falacy that a massive turnover is needed to show profit over time.
This is for men who have that poor of a selection and staking method, that a very large turnover of money is needed to capitalize on a very skinny profit margin. In reality these type of punters last only as long as other money (or imagination) is proping it up.


Agreed. In fact there are many different strategies to pro punting. Some have very high turnover (volume of bets), but the most common is very few targetted bets. It's very hard to have a high volume of bets in a negative market and come out in front. Exotic punters are the only real exception, but then they must have a massive bank behind them to endure the losses.


3. It's quite false that a very high starting bank of $10,000 to $30,000 or more is needed to start a betting bank off. And false also is the thinking that the bank must be turned over and over like it was inside a washing machine.
The fact is a betting bank must be protected from heavy turnover!


This is where I disagree to a certain extent. One can start small and build it up, but if one wants to start making a steady income to cover the bills etc, there's no way a $4,000 bank will cut the mustard to provide a liveable income. Even if one was lucky enough to get 20% POT per month, and it's not going to happen every month, that's only $800 per month utilizing the full $4,000, one bad month and bang! One must be able to cater for long runs of outs and that run depends on strike rate. I agree with your point on turnover in relation to straight out betting, exotics are a little different.


Here is another fact, if the average man clears $30,000 a year in his regular employment, then to match that in punting earnings, he can start off with a bank as little as $4000. And still keep his job. Nirvana for the average bloke on the punt would be around $50,000 a year.....roughly $4000 to $5000 a month. A $6000 starting bank for that is plenty.


What sort of POT are you basing that on, I strongly disagree.


4. It goes against any real common sense that an ** School Teacher, Mathematition, Engineer, Accountant or any highly educated induvidual, can come up with a numerical/class/time rating system that leads to first a steady income, then on to great wealth.
It simply cannot be done.


Are you saying an uneducated person stands a better chance or experience and research has more weight?


why you should never except odds on any bet unless it can return you over $7 to the dollar.


Again, strongly disagree. The weight of bias against longer prices means you have to be far better than the market suggests. Backing the shorter end of the market has less bias against the punter and is far easier to overcome.

Not picking on you, and a lot of what you have written is excellent, I just disagree with some points.
Look forward to your response and further parts to your article.

Originally Posted by crash

Don't spoil it [your victory?] by 'crowing' chrome ..there is nothing uglier.