We have completed the first week of February and it is time to review where we are heading. Some of the results have been disappointing, although we have had an inordinate amount of 2nd and 3rds, but they don’t pay on “coulda beens”. The idea here is to make money, not to prove how good a Tipster I am.
This Saturday 7 Feb 2015, showed that we are starting to spread ourselves a bit too thin. We need to review where our investments should go to maximise our returns.
I have reviewed all selection methods for 2015, and the table below shows the results:
Taking it from the bottom, I have to say that I am deeply disappointed in my Best Bets Selections. We have outlaid nearly $800 in 2015 and lost $10. An awful lot of effort and expense for that sort of return. November and December we made good profits from the Selections and we have had a lot of hard luck stories and inexplicable poor runs, but again those stories don’t pay the bills. I have been finding that the majority of my selections have been the popular picks in the media, and that although I have been getting a good Strike Rate of 31% the dividends have been low. Actually if I hadn’t had the Value Picks in there, the situation would have been a lot worse. I know from past experience that these will come good again, but am no longer prepared to invest that amount of time and effort for that sort of return. There will now be less selections, but hopefully of better quality. The money not invested on the Selections can be used in other areas.
The Investor – after a horror start to the year has recovered and is running at a small profit. After losing money at The Magic Millions and Country Cups, I will restrict the Investors Selections to Saturday’s only. I will also supply the recommended prices required and the Investment amount to return $100 at those prices. You can adjust your bets according to your banks and comfort levels. If you can’t get the prices, then you will need to “Dutch” them yourselves on a free Dutching Calculator. If you need a link, ask in the comments below.
That brings us to The Ratings. After some horror losing runs in the Selections, I was dragged back kicking and screaming into the world of ratings. I am retired and never intended to actually set up a race selection service. I thought I could make a bit of play money on the side and maybe offer some advice to the average punter who is fighting against the Corporates …. maybe level the playing field a little. But if we are going to do this, then bugger it, let’s do it properly. The Ratings will become the focal point of our betting activity. I have included that first horror week at Flemington, where I had an almost complete wipe out, but still only lost $26. We got a lot of 2nds and 3rds in that first week, so we weren’t too far off the mark. I was pretty happy with them overall and so it proved this Saturday. From now on the suggested bets will be on a bank of $1,000 for a conservative punter. Again you should adjust them to your own comfort levels and your own bank.
Hopefully by now, everyone as established a Betting Bank.
Our first goal is to get that Bank up to $1,000 (some members have already achieved that).
The next goal is to double the bank (i.e. make it $2,000) through our winnings. That will now start.
Once your bank has doubled, you will take half your winnings (i.e. $500) and pay off debt. The interest rates are killing you. Get rid of it! You can keep the house mortgage.
You will now have a new bank of $1,500. Restructure your bets based on this bank (i.e. 1% or 2% of $1,500)
Once this bank has doubled (i.e.$3,000) you will repeat the previous step of taking half your new winnings ($750) and retiring debt. You will now have a betting bank of $2,250. This process will keep continuing until you have retired ALL your debt.
Then it will be time to start creating wealth. Punting makes us money, not wealth. But that money can be used to create wealth. When we get to that point, if you are still with us, we will discuss more strategies.
I will start now with a new Bank of $1,000 and record my bets against this new bank, and report against this. You should be able to mirror my results.
You may have noticed that Administration is not always my strong point. As it is only me, the easiest way to administer subscriptions is through PayPal. To encourage people to renew their subscriptions through the website, I will reduce the subscription costs through the Website. You have between now and the end of February to decide if you want to stay with us. I won’t chase anyone now, but from March 1st only subscribers will be receiving the updates. I have really enjoyed our little group and the interaction with all of you. I will be sad to see anyone leave, but I have expenses to cover.
Onwards and upwards .. let’s start making some money now! … I am excited 🙂