Foolish Punter Loses a Lot of Money at the Races

So what did this foolish punter do wrong?

Meet Davie, the 'on the booze' punter.

Davie had a bank of $1000 he decided this week, (as every other week) he was going to win big time...

He read all of the right form guides, visited all of the right web sites and gained all of the right info.

By Wednesday, he was broke again.

How did he lose? and what went wrong?

First of all Davie began betting on Monday. There were two meetings covering about 14 races. Now like many punters Davie had a system of picking winners. Sound familiar to you?

He reckoned he could pick a high percentage of winners for every race that day....

The first race he got right with a 5/1 winner ...yippie!... then the next 5 races he lost... but his luck was in because he was doubling his bets to recoupe losses.. and race 7 came in at 3/1...

The first mistake here that Davie made was backing a horse in every race.

The second mistake Davie makes is doubling the size of his bets to recoupe losses...

The third mistake Davie made was backing for the win...

Davie continued like this all day.

His bets were quite normal size bets commencing at $25 which the first race won, got his stake money back and a profit of $125...

Then...

The next 5 races all lost... stake one was $25 ... next race $50 ..... next race $100... next was $200 $400... and a race which did win and the stake was now $800...

$800 stake all to recover a $25 loss .. at 3/1 he got back $2400 ...lucky guy..

Tuesday:

Same kind of conditions and races and Davie did pretty much the same thing again..

Wednesday:

Now came Wednesday and with a slightly bit more cash in his pocket, Davie decides to start off his bets at $50.....

Same kind of races and betting conditions, Davie has done all his homework and made all of his selections...

Race 1 - lost - Race 2 - lost Race 3 - lost Race 4 - WON..... phew... got my money back again he says...

There were 10 more races that Davie had set his mind to sell annuity payment on.... they all lost...

Because Davie had it firmly placed in his mind that doubling his stakes had to produce a profit when he hit a winner...he knew he couldn't lose....

But what happened... 7 of his chosen horses ran 2nd or 3rd but didn't win... Davie doubled his stake on every race but by race 5 HE RAN OUT OF MONEY... Davie went home broke and upset... but he was ok, he went to the pub..had a few more to drink. decided he'd save up his cash again...and get back to betting the horses in another few weeks. AND of course...blow all his cash once again.

He hasn't learned a thing .... and so it is with the majority of horse racing punters...they think they know....but they don't and continue to lose and lose and lose all their money year after year...

What should Davie have learned?

1. Select only certain races to bet on. 2. He should have learned not to be greedy and expect to win the big money all on one day. 3. He should never have been backing for the win bet but rather for the Place Bet/Show Bet in the USA. 4. Doubling of your stake money.. NEVER, NEVER NEVER DO IT... YOU WILL affordable auto insurance GO BROKE..NO BANK NO MATTER HOW LARGE CAN WITHSTAND THE LOSS AT THE END.

Some people never learn and never will... for what ever reason, they will never admit a loss...

You on the other hand don't have to be a foolish punter, YOU can learn the proper way to make real money and a real profit from horse race betting.

Follow someone who as actually done it.

Punting The Right Way
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