I estimate I have blown $100 000 over the years chain betting at the TAB. Can anyone suggest a strategy to recoup some of my losses? I am willing to be patient and disiplined. Serious replies only, I don't need anyone else telling me what an idiot I've been. I have had a break from punting but I would like to get back into it, taking a more disiplined approach.

One place to start might be to work out what bad strategies you had in the past. Was your problem that you can't pick winning horses or was it the lack of discipline? Did you get behind on the day, throw your possible winning strategies out the window and chase favorites to try and get back in front?
Be honest and tell us how you think you did so badly, that will (in my opinion) be a good place to start building.
If you've got bad habits which you're likely to carry forward probably no winning system we can suggest will help you.

KV

Okay, I won't tell you what an idiot you've been, but I will say that I think you should quit while you're WAY behind and not try to "recoup those losses". I'm certainly not saying that it's impossible for you to win some of that money back, but with your past history, you probably shouldn't even be thinking about it. You obviously had a BIG problem, and if you now have your head above water, then you should be very thankful about that and probably just forget about betting. Find another interest.

Sorry. Just my opinion.

I am quite good at form study and selecting some winners. I usually picked around six or seven per week based on the horses previous run. The trouble used to lie in chasing losses or giving back winnings. This just lies in sheer lack of disipline, so the six bets per week would turn into 30 or 40.TAB 'pop-ins" or internet benders were common. I would just focus on the balance for the day. I would like to test something without actually betting on it and when it looks OK, I will invest on it. Hopefully old habbits will not creep in. I totally understand the money I lost is gone for good but I feel I have a talent for selecting winners but am lacking patience. I thought if I could follow something 'systematical' with small success, I could make a go of it. I still have a massive credit card debt I'm paying off.Any suggestions would be greatly appreciated.

Sportz,

I totally understand your opinion. It is just so frustrating when I am selecting winners but not profiting from it. I realise though, I would sink for good if things went bad again.

Try typing in Forum's Search, "Staking Plans" in Topics.

take sportz's advice, seriously

You could always become a bookie

Personally I believe one should only bet on horses with discretionary money that one is prepared to lose. That if lost, it will not affect one's lifestyle. That does not seem to be your situation, judging by what you just posted.

Once people start betting with money they cannot afford to lose all sorts of bad discipline comes in like betting up big to recover all the day's losses because a horse has been plunged so you don't want to miss out.

Also the simple method of selecting horses, unless purely computer generated, could be influenced because of the financial situation behind the betting. Will you be selecting the same horses if you know you are going to bet on them and "would sink for good" if things went wrong?

I'll have very substantial amounts running for me in the stockmarket on just one company if I have thoroughly researched it, like market conditions etc. etc.

But there is no way I will have a large amount running on one horse, no matter how confident I feel.

Hope this is something to seriously think about,

Cheers,
Neil.

you dont recommend chasing favourites?
the method i was taught is... you back the favourite in every race.. and if the first favourite winner comes up... when youve made you profit.. you stop betting for the day....