February saw us basically holding steady for most of the month, and then finish off with a bang in the last two betting days. There were 114.28 Units Bet and 127.81 Units returned, for a profit of 13.53 units, which represented a Profit on Turnover of 11.84%. A POT for each month of 10%, should result in a doubling of the bank at the end of the year. Admittedly I still haven’t recovered from that last weekend in January, where there was a major blow out. At least I am aware of what caused that (my fault) and will not be repeating that mistake again. Sometimes I feel the pressure of having to make a profit, and push too hard. That is what happened in that last week in January. During February, despite barely moving for most of the month, I was patient and just let the profits come when they would. Unfortunately that is how this game works. There will be a series of losses, some treading water and then suddenly a big profit. Unfortunately you can never predict where and when each cycle will occur.
There were 33 Racing bets during the month, for 12 winners, a Strike Rate of 36%.
We took advantage of two Bookies racing promotions. Two bets on 6 February were refunded as Shockemohle and Second Bullet ran 2nd at Caulfield. I couldn’t repeat the dose on 27 February 2016 at Caulfield, with Puritan and Egypt putting in disappointing runs and finishing well back. However, by laying Puritan and Egypt there were only minor losses incurred. There was a bet on the Superbowl, to again take advantage of a promotion for a $1 per point scored. I was hoping for a larger score in the game, but we ended up with half a unit profit.
NRL and AFL are starting shortly, and there should be some good promotions available to us, to make some more profit.
To those members who left us in February, I thank you for your support and wish you well for the future. Hopefully I may have helped refine your punting practices. Although I still see people looking at punting as being akin to winning the lottery. One big win can solve all your problems. The Bookies promote this kind of thinking when they advertise punters big wins. But that is not how it works. Punting is like the share market. You invest and seek a return on your money over a period of time. You see the share market falling each night on the news, but the investors know that over the year it will recover those losses and make their stocks more valuable. We trade in sports events, but use the same principles. We look to make a percentage on Turnover (around 10%). The total money won (or lost) will relate directly to the amount of money bet. If your turnover is $1,000 a month and you make 10%, your return will be $100. If you are investing $10,000 a month your return will be a $1,000 profit. This can be a second income, but you must take the time to build your bank, and avoid all those temptations to have the odd “fun” bet. These “fun” bets will generally eat into your 10%.