How can you learn to think like a professional punter?

Here’s what you need to know if you want to become a professional punter.

Being a professional punter is not always as glamorous as it sounds, but many punters dream longingly about giving up their job to become a professional punter. For all but a tiny minority, the dream remains just that, and punting remains just a recreational pursuit, even if a profitable one.

In this article we discuss five ways to take your betting to the next level.

Five most important things to consider before trying your luck as a professional punter:

1) A true professional punter can be involved in betting opportunities across many sports or horse racing jurisdictions, and is not concerned by whether they enjoy playing or watching a particular sport or racing event

The professional punter is solely concerned about unearthing potentially profitable betting opportunities, where the price offered about the outcome of an event is high compared to the actual chance of it happening. A professional punter who earns a living through betting will need to focus on this if they are to be successful.

2) Discipline is a major factor in determining whether a professional punter will have a successful career

A professional punter must treat it the same as a business to achieve the same profitable outcome as a successful business. As a professional punter you’ll need to keep records of all your bets, stick to a strategy, keep emotion out of your selections and not chase your losses. Professional punters will have losing runs occasionally, sometimes for long periods. However, the professional punter will rarely lose their entire betting bank because they maintain their discipline.

3) Whatever the size of your bankroll is, it should always start out as a sum you can afford to lose

Money is one of the reasons why more recreational punters don’t make a consistent and long-term profit. It doesn’t matter if you start out with a very small amount. Just remember this seed capital is money you must be able to afford to lose. A professional punter, as opposed to an amateur, will view and treat the betting bank as critical business funds. Treat your betting bank with respect and discipline.

4) Research staking plans

As a professional punter, devise a plan of betting that can maximise your profits but not risk the majority of your business bankroll. One suggested professional punter staking plan is to bet relatively low - risking no more than 1-3% of the rolling bank on any one investment. It allows a professional punter to maintain discipline as even a long losing run will have little impact on overall reserves.      

5) A subscription service offered by professional tipsters can be a valuable investment.

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How do you choose your bets? Not all punters have their own database, professional betting system or have the time to study and make selections. Professional punting tipsters are a resource that can provide valuable information, and many are available. The best in Australia is Winning Edge Investments and more information on options is available here.

Making the decision to become a professional punter is not to be taken lightly. To succeed you will have to do more than just acquire a new set of skills. You will also have to overcome some of your strongest prejudices, and confront some of your most personal emotional drivers, the hidden parts of your character that you would perhaps rather not analyse or alter.

Being aware of your emotional driving factors is integral to success for the professional punter. You need, as much as you are able, to remove the emotion from your betting and staking decisions. This is not an easy thing to do. However, for the professional punter to maintain success and to preserve the initial bankroll it is of utmost importance.

And don’t forget - every professional continues to seek education to grow their skills.

If you are new to punting, we recommend you to sign up to our newsletter to receive a copy of our free 130 page Betting Information Pack. We send out a weekly newsletter full of free Horse Racing and Sports Betting tips, education and information to help you become a far more profitable punter.

Make sure to take a look at bookie reviews before you finalise the bookie you want to bet with. Betfair , Vicbet and Dave Dwyer are examples of incredible online bookmakers offering some of the best Melbourne Cup odds available, and indeed the best odds on horse racing events every day. Using similar bookies will make your life easier by betting straight from your mobile or computer.

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