I think one of the hardest things to do as a punter is knowing whether you have an edge in a market and whether the bets you place do in fact have positive expected value (+EV). +EV just means that we would expect a positive return from each bet placed (i.e. value). Simply put your … Continue reading 38. Knowing If You Have An Edge
Don’t be afraid to ask questions about betting on subjects that you dont understand. Twitter provides an amazing opportunity for people to try and improve their betting skill set. You can easily get in contact with people who have done this for a long long time. If you ask in a nice and polite way … Continue reading 37. Ask questions
This is not an easy subject to talk about within gambling as a whole. As someone very wise said to me recently; ‘Its funny how everyone seems to draw the line just above whatever it is they do’. Lets’ be very clear that it doesn’t really matter what area of gambling you work within, you … Continue reading 36. Morals
You have to be very careful that your data sources aren’t just an echo chamber. This applies to life as much as Twitter but you see it hugely magnified on Twitter. When I first started on Twitter it was purely for work and betting purposes. I would follow golfers, caddies, journalists, official sites, scoring sites … Continue reading 35. Twitter echo chamber
What you have to realise with betting is that it is continually a game of information asymmetry. Information asymmetry is a condition under which one business party possesses more information than the other party they are dealing with. One party’s access to more relevant and up-to-date information can result in business imbalances and even exploitation. … Continue reading 34. Information Asymmetry
It is really simple but you have to find a way to stay in the game. If you do your complete balls and have no bank left, there can be no more bets. There is always another tournament/match/race. Always another day. If you have to lower your stakes then so be it. It’s amazing how … Continue reading 33. Have to stay in the game
We have seen in the last 48 hours another huge scandal emerging in poker involving the player who has the highest lifetime earnings. You would think it inconceivable that someone so high profile and seemingly successful, would be involved in such alleged activities. I think what it shows and you have to realise, is that … Continue reading 32. Don’t be naïve
Lets be very clear about it. If asked what you do for a job/living and you respond saying you are a professional gambler/punter you will get looked upon as if you have just committed some heinous crime. The stigma attached to betting knows no bounds. It will get to a point where you will downplay … Continue reading 31. Stigma
This is always a slightly contentious subject and I will explain why a bit later In more detail. Nicolas Taleb has a brilliant book on the subject and it is so relevant to betting. The general premise is this; That people who don’t participate in both the downside and upsideof something don’t know what they … Continue reading 30. Skin In The Game
I was reminded whilst watching a Betting People episode with Simon Nott and Nick Goff that everyone does things differently. Nick was talking about losing runs and how he was happy to wait a week until recording all his bets. That was how he dealt with it. I couldn’t be more different. If I have … Continue reading 29. No single way to do it
ProPunting 