A quiet week, mostly as a result of the state of the tracks after the deluge suffered by Eastern Australia.
We had 3 selections at Belmont on Wednesday and 1 at Morphetville on Saturday. A total of 4 selections, all who finished unplaced. Loss of 4.25 Units for the week
A good start to the week with Monday returning members a 31% POT. Tuesday was a wipe out. Wednesday we lost 53% of the day’s bank. There were no bets on Thursday and stakes were returned. Friday was also a wipe out and Saturday the best we could manage was a couple of placings, losing 62% of that day’s bank. For the week the Punters Club invested 5 Units, for a return of 2.16 Units for a loss of 2.84 Units or 57% of the total bank for the week. Note your figures may vary if you either didn’t invest each day or didn’t invest equal amounts each day.
Building A Bank
One of the essentials ingredients for any successful gambler is a Bank. If your Unit is 1% of your bank, and your bank is $1,000, then your Unit is $10. If your Bank is $50,000 then your Unit is $500. To make a decent profit from gambling, you need a decent bank. You can build this bank a number of ways:
- Saving – invest a set amount each payday into your Punting Bank. An amount that is extra to your household needs and will not negatively impact on you or your family.
- Winning – you bank increases as you win money. Conversely it decreases as you lose.
One way to overcome this winning/losing sequence is through a system called Arbitrage (or Arbs). Simply put that is where you can back two teams in a contest, and show a profit regardless of who wins. Years ago (many years ago) I was involved with a group who had a huge Arb operation. The group won substantial amounts of money. There were a number of problems with the operation, the amount of liquidity required, the time required and the burn out associated with it. Bookmakers also frown on Arb Traders and often your accounts will be shut down.
I speak of Steve and his Daily Profit Service regularly. I have no involvement, but was interested in his journey to become a full time punter. This June 30 he will have been at it for 5 years and has become a full time punter. He now offers a number of Punting Services to other Punters, one of which is the Value Bets and Risk Free Service.
The bets in this section are not done by Steve, as I understand it. This area works on two series of bets, Risk Free and Value Bets.
Risk Free are your basic Arbs. Tatts have Bonus Bets on offer each day from 11:00am to 12 noon (Melbourne time), where they will offer you over the odds on a particular event. Steve’s service takes advantage of these Bonus Bets. You can also, if you look around.
Today in the NRL Tatts offered Brisbane to beat Melbourne at $3. They only allow a maximum of $25 bets on these Bonus Bets. Bet 365 offered Melbourne to beat Brisbane at $2.50.
I bet $25 with Tatts on Brisbane at $3 – potential return $75
I bet $30 with Bet365 on Melbourne at $2.50 – potential return $75
Total Outlay was $55 with a guaranteed return of $75 regardless of who won. Brisbane won the game and I won $20.
The other thing that Steve’s site takes advantage of, is Bookmakers offers. For example, on the Rugby League State of Origin, plenty of Bookmakers were offering money back if your team leads at any time in the match at loses. Both teams led at various times in SOO II, so all losing bets on Qld up to $100 would be refunded. They call these Value Bets. Where you back both teams for a small loss, but if the conditions are fulfilled, one of your bets is nullified and your winning bet is paid.
For example, you could back Qld with one bookmaker to win $100 and back NSW with another bookmaker to win $100. Your NSW bet wins and you win $100. Your Qld bets is refunded (because they fulfilled the condition), and you are $100 in front. Be careful though the odds have to be close enough, so that if Qld did not fulfill the condition you would only lose a small amount overall.
If you have the time you can do these calculations yourself, or you can join Steve’s service for $37 per month (I think it is) at his dailyprofit dot com dot au website.
If you do decide to Arb (either yourself or through Steve) a couple of things to note. The Tatts specials are on off at their Ubet dot com site. Use your normal Tatts login, and you deposit and withdraw through the main Tatts website. You must keep a record of your betting activity, this form of betting is more complicated than betting to win on a horse race. If you join Steve’s service (and I see a few of our members on the forums) there is a spreadsheet available to download to record your results.
Till next week