I have wanted to put together a quick list of 100 pointers for the ordinary punter for some time. The punter who doesn’t do this all day every day. If you are unsure what any of them mean just ask or look under the Topics section and you will likely find a more detailed explanation.
1. It is highly likely you will lose money at gambling
2. Winning money at gambling is fun, losing isn’t
3. The key to betting is that you are placing bets that have a positive edge (+EV)
4. Finding a positive edge and maintaining it, is very difficult
5. To find an edge you have to think of something that the markets are not accounting for correctly
6. Accept it can be very difficult to know if you have an edge or if you have lost an edge
7. Edges will disappear quickly, so smash them if you are sure you have one
8. You will have to constantly adapt what you are doing to keep finding new edges
9. Just because you have had a few winners it doesn’t mean you have the game by the b******s
10. Do not be fooled by small sample sizes
11. Try and understand who you are betting against
12. Understand the margins of the markets you are betting in
13. Remember you get to pick and choose what you bet on
14. You don’t have to bet on the big race or the football match that’s on tv
15. Be patient, wait for the market to come to you and place bets on your terms
16. Try and specialise in smaller less efficient markets
17. Never worry about missing a bet
18. Every single bet counts
19. Never chase
20. There is always another market, match or race to bet on
21. Variance is a very real problem affecting even the biggest gamblers
22. You can go on runs that are scarcely believable
23. You have to find a way to stay in the game
24. Try not to count a win until the market or bet is settled
25. Crazy and unexpected things do happen in sport
26. If it looks too good to be true it probably is
27. No single way to do it
28. Have realistic expectations about what you are trying to achieve
29. Accept that luck can play a huge role in the outcome of a bet
30. The outcome of any individual bet shouldn’t matter
31. Worry about the processes to select bets rather than the outcomes
32. Never be afraid to take a loss
33. Shop around for prices using sites like Oddschecker
34. Be aware of the risks of using smaller bookmakers
35. Do all the verification when you open an account even if it is not asked for.
36. Leave as little money in accounts as possible
37. Be aware of inactivity fees on accounts if you don’t use them for long periods of time
38. Take advantage of free bets & special offers
39. Matched betting can be a good way to build your bankroll
40. Understand that if you win you will be closed down quickly
41. Understand stake factoring and what causes accounts to be restricted
42. Never play casino games
43. Bookmakers are the enemy and will use all sorts of questionable tactics to take your money
44. Betting shops can still serve a really important purpose in terms of getting on
45. Shop around and consider other markets such as the Tote where great value can be found
46. Do not be naïve with regard to cheating and questionable practices
47. Use Exchanges (not just Betfair) and become familiar with prices after commission.
48. Sites have outages so be careful if trading.
49. You have to think out of the box and go against the crowd
50. Keep records of your bets
51. Take a quick photo of the bets placed and double check they are right
52. Always understand the rules and regs on a market
53. Don’t use cash out unless in exceptional circumstances
54. Avoid doing accas unless you know you have an edge
55. If you do have an edge accas are a thing of beauty.
56. Avoid bet builders/same game parlays as the margins are crazy
57. Be aware of maximum payouts especially if doing accas
58. Big wins are fun but it’s much easier to focus on lots of small wins
59. Don’t just look for quick wins
60. Don’t be greedy
61. You have to put the time and effort in if you want to be successful
62. Much easier to trust those who have genuine skin in the game.
63. Use Betfair prices to your advantage
64. If you can beat Betfair prices with bookmakers you will be fine but it will cost you accounts
65. You will make many mistakes so make sure you learn from them
66. We are all human so don’t be too hard on yourself if you err
67. If betting online it is very easy to lose concept as to what the value of money is
68. You have to have a dogged determination as there will be lots of setbacks
69. Try and avoid obvious biases in your betting
70. Understand the short and long term goals of those involved
71. If things go against you try not to panic.
72. Inside information does exist but it is often useless as it has no context
73. Don’t believe everything you see and hear
74. Don’t place bets that cause you to look at your phone when you should be with family
75. There is a real stigma associated with the industry
76. Understand your bank may not like lots of gambling transactions
77. It is a game of very questionable morals funded by losing punters
78. Lots of excellent free content on Twitter (followers do not equate with the quality of content)
79. Plenty of great informative podcasts and books out there
80. Stop relying on others to do all the work for you
81. Just ask questions if you are unsure about something
82. Be aware of echo chambers on places like Twitter
83. Understand the incentives at play of those in the industry
84. Understand how the various parties in the industry make their money
85. Don’t trust the media as they definitely don’t have your best interests at heart
86. Always question why a tipster is selling information rather than betting themselves
87. If someone isn’t willing to put money on something themselves ask yourself why
88. If you do use a tipster try to make sure the information they provide is properly verified
89. Do not fall for the narratives that come with every tip or recommendation
90. I could create a narrative for literally any bet
91. Trust the markets as they know far more than any so called expert in the media
92. When betting in running be aware that pictures and feeds will be delayed
93. Always pick sensible moments if betting in running such as when a break in play
94. Be aware of the spinning clock of doom when betting with bookies in play.
95. Over staking can be a big problem given variance
96. Understand your risk preferences and how that impacts your staking plans
97. Be clear and consistent as to why you are doing something
98. Don’t just keep doing the same thing time and time again expecting different outcomes
99. Constantly look to educate yourself and improve your skillset
100. You need to master all aspects of betting to be successful long term
ProPunting 