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Originally Posted by w924
Now, given that a professional punter bets to a percentage of his working capital, (and bets in units) my comments about high bets high turnover low profit percentage versus small number of bets, low turnover high percentage profit on turnover stack up completely. Surely, anyone who has actually done this for a living will agree with me. i.e. the unit amount is the same for both methods.
If one bets the same perecentage of bank in both methods, all of my earlier comments ring absolutely true.
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W924 – While I agree with a lot of what you’ve written, I go about it differently re ‘unit’ betting inasmuch as my ‘unit’ betting is set not as the stake but as the amount to be won (based on my assessed prices)
I’ll give an example of one race I bet in from last Saturday:
Flemington – Race 7
Sky Cuddle 5.30 (3.20)
Ballet Society 6.40 (4.50)
Candy Vale 7.80 (5.50)
The first price is the average price I took on Betfair, while the price in brackets is the assessed price.
The target was to show a profit of $200 should Sky Cuddle win, while the two other bets were merely ‘saver’ bets.
The outlays were:
Sky Cuddle $130
Ballet Society $48
Candy Vale $39
for at total of $217.
As Sky Cuddle won and was a huge over based on my assessed prices, the return was $689 for a profit of $472, more than double the planned target of $200 profit.
Had one of the two ‘saver’ bets won, a profit of just under $100 would have still been shown (again) because of the overs.
While this race was my best result for the day, I had a total of seven returns from thirteen races I bet into.
So while you and many others may bet to a percentage of your working capital, I don’t preferring to set a profit target and bet accordingly to assessed profits. Believe me, it can be a very lucrative approach to punting.