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Originally Posted by kenchar
Win betting.
Your bet is your profit plus a bit.
In other words if you want to win a $100, your bet would be $100 and stop betting for the day even if it's your first bet if $100 or more in front.
Too many want to win $100 a day but have $10 bets, impossible long term.
It all depends what people want from the punt, I just find long term consistent profits are made by snipping a little bit every day, it's the ONLY way I know.
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Hi Kenchar,
That all sound wonderfully until thought about.
For starters, your bet is not your 'profit plus a bit'. Your bet is your personal stake, the 'bit' is your profit. ...and if you lose your $100 bet for the day? Do you have another [and another], until you win your 'bit' of profit [which would now be a big loss]? If you stop at your first bet and it loses, you are $100 behind which has to be made up the next day before you can hope to make any profit [a slippery-slide to the bottom].
I agree that trying to win $100 a day with $10 bets is practically impossible, but raising your stake to $100 to win a $100 a day [or $10] and then stopping is also practically impossible except during a run of ins. All it means is you are taking very short odds. Evens to win a $100. If your first bet loses you are $100 behind. You must maintain a constant 50% SR just to stay even. A constant !00% SR to make $100 a day is impossible without doing it from the results pages.
Increasing the odds you except to allow for a few losses just makes matters worse as you increase the risk of losing. Also we haven't mentioned the dreaded run of outs that affect everyone regardless of strategy. For evens 8 in a row is quite possible and it just gets worse with any increase in odds.
50% of odds-on runners lose and for evens even more so. Taking a $100 bet on a short priced odds-on Fav. to win say $10 to $20 by backing it for a place even, is no guarantee of success [odds-on runners run unplaced very regularly]. It is totally impossible for anyone to know that 50% of their bets they have at evens [more for odds-on] is going to win. And that is just to stay even let alone make a $100 a day.
Saying your doing it doesn't make the logic you presented sound, it just means you have been lucky. Excellent selection ability doesn't come into it. That sort of selection ability is impossible except by selecting from results.
It is just as hard to win a constant $1 a day than it is to win a constant $100 a day. The only difference is scale, not logic. The logic and maths. involved are identical for both amounts and all amounts in between.