Racehorse TALK

 Just got a email from one of the smarter punters that I've ever met.

I had told him that I keep records of my bets just to see how I'm travelling.

  We both agree that it is important to do this.

 I think it is as important as studying form.

Not hard to do these days with USB thingos and spreedsheets freely available.

Anyone else do it?

i dont but dont bet much, im happy to go a month without having a bet.

If I kept records, I would have given the punt up 30 years ago.

Some things are best left alone.

It's a bit like keeping every receipt for your wife and kids. Do you really want to know what they have cost you?

Hamish, I see where you are comng from.

if you have enough money to splash around it might be OK in not having to worry but if you don't then you more or less have to see how much you are down. If you see you are losing too much it would be sensible to give the punt away , surely.

i budget and keep records for everything and by doing this dug myself out of a hole nd now going OK

Maybe others are travelling so well they don't need to watch every dollar.

i think if your punting for entertainment why bother, ie you go to the pub sat avo with your nominated bank, that may be $40.00 or it may be $400.00 you have your bets then you close shop. the secrets not to go to the atm and try and win your money back.
set your weekly entrainment money and have a good time. obviously if your punting as income thats a diff story.

ive got a close friend who punted non stop on everything that moved and he decided to record his bets and it shocked him after 3 months so i can see your point grats as it can be good for your punting.

this guys turned things around as he now saves his punting money for a month at a time till he has a bank then places a minimal number of bets on horses hes followed   

One of the attractions of a forum such as this is comparing how other punters go about their business.

I've said for years how I put $20 into a jar each week no matter if I win lose or draw.  This has worked well for me.  Sometime you build it up to a healthy amount and you do with it what you wish.

It has worked so well that I recently deposited $400 to last for the rest of the year.  Btw time the Cup comes around I'll have a few bob to bet with.
  Admit that I'm involved in a few punting clubs that bet on the footy and these are seperate to this.

   Also our little fun parlay club with Chalky , Calgary and a few mates is seperate.

When I say I keep records, they are very simple. Such as this. You can see I reinvest any returns from the week before so it will build up during the year.

		Bets	Bank	Turnover
Date
09/04/11		0	0	25
16/04/11		0	0	28
23/04/11		20
30/04/11		20
07/05/11		20
14/05/11		20
21/05/11		13
28/05/11		12
04/06/11		12
11/06/11		12
18/06/11		12
25/06/11		12
02/07/11		12
09/07/11		12
16/07/11		12
23/07/11		12
30/07/11		12
06/08/11		12
13/08/11		12
20/08/11		12
27/08/11		12
03/09/11		12
10/09/11		12
17/09/11		12
24/09/11		12
01/10/11		12
08/10/11		12
15/10/11		12
22/10/11		12
29/10/11		12
05/11/11		12
12/11/11		12
19/11/11		12
26/11/11		0
		405	0

   

tell us your staking methods as I find them interesting.

I have actually started using the DD method.

If you look at the UK 2011 thread you will see that is what I am doing there.

So far so good.

That's a great idea of DD's but don't tell him I said that.

It is nearly a good idea as my parlay club but then again we might lose all our stake where he won't

If ya last five bets do no good ya could lose all ya stake.

yes we had a bank of $100 to start with and have banked $3+ so we can't lose the lot

Player	Remaining Bets	Return	Bank	Next week
Chalky	4	0		1/3 legger
Calgary	4	0
Fred	5	7.2	3.2	1/3 legger
Tony	5			1/3 legger
Greg	5			1/3 legger
Total	23		3.2
	$92.00

Grats - I started keeping proper records in 2009, it quickly pointed out where I do well and where I don't  so I quickly ditched those bets.

2010 was the first full year and while I did lose over the year, it averaged out pretty minimal per week, much less that what most would spend on smokes etc each week.

Obviously I'd like to be winning  but considering I do it for enjoyment the loses I can wear while I try to improve.

My main failings is too many bets, or more to the point betting on races I know I shouldn't 

Yes mate, that is the plus of keeping some sort of records.

I have a different way of record keeping which I started when I was young--some wise fella said to me---from 16 yo--put a jelly bean in the jar--every time you score with a lady---then when you get married--eat a jelly bean out of the jar every time you get lucky with the lovely---he said your jar will never get empty.