Hi, I have just reviewed my betting returns for the spring carnival for the 3 selection processes I use.

Plan A got 1 in 4 winners and gave 22% profit on turnover
Plan B gave similar returns.
Plan C is my long shot picks which statistically have the worse chance of winning. The results are 6 winners from 88 bets but a return of 62% profit on turnover. This plan had a loosing stretch of 32 outs, which if the picks had been posted would of drawn the ire of many a critic.

What has become apparent is that my bank size has to be dramatically increased if my bet size is to increase. A $500 bank can carry a 30 - 40 run of outs at $10 but I would need $5000 bank for $100 bets.

I'm sticking with my hobby bets for a while longer as watching $320 go for no return was hard enough.

good punting Horse Cents

Hello
Here is what you write about your longshots:
"The results are 6 winners from 88 bets but a return of 62% profit on turnover. This plan had a loosing stretch of 32 outs, which if the picks had been posted would of drawn the ire of many a critic."

I agree with you. That is why the term "mug punter" is used.

Mugs expect every selection to win. If it doesn't win they say the selection was no good.

Mugs also have no idea about normal losing runs with decent selections which can return long term profits.

Mugs also work out % profit on turnovers, if they're smart enough, on three or four selections and quote it at you as if it's meant to be meaningful.

Why are there so many mug punters around compared to stockmarket players? My theory is that you need a reasonable amount of money to buy shares. Even a few thousand dollars is considered a ridiculously small purchase of shares. That decreases the chances of people being complete idiots. You know the saying - "Fools and their money are quickly parted."

But these fools will punt with a few dollars on horses and claim to be experts. Imagine phoning your broker and asking him to purchase $5 or so worth of shares for you. You'd be treated as a joke.

Yet these are the sort of punters who expect selections at $10 or more to have a 20% or 30% strike rate. Mugs and fools. They have no idea and will always be losers.