18th November 2005, 09:46 PM
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Member
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Join Date: Jan 1970
Location: Yarra Valley
Posts: 241
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Quote:
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Originally Posted by KennyVictor
Now if I had a $25,000 bank to use I would feel quite comfortable using it knowing that there is little chance of it reaching 0 if I made a billion bets. I wouldn't risk it in a fit if I thought there was a 12% chance of it dissappearing.
But then I don't regard backing horses as gambling - I'm one of these weirdos who consider it an investment. :-)
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Hi KV,
as you say, each to their own. One thing I've learned in this game is that there are many ways to skin the punting cat....
If the best I could do was a 22% S/R and $4.80 dividend, then I'd take that $25,000 and split it into 5 banks. I'd bet 1% of bank for each bank. I'd find 5 different strategies that gave me the 22/4.8.
While there's a 12.5% chance I'd lose one bank, there's around a 0.003% chance that I'll lose all five banks. With 5 banks in operation, I'll be betting about 5 times as many bets, I'll be turning over about 5 times as much money, and presumably making about 5 times as much actual PROFIT.
Like you, I consider this an investment... I make my money work very hard for me... At the present, I turn my original punting bank over about once every 8 to 10 days.
Happy Punting.
Cheers,
Chris.
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