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Basic Betting Principles

Basic Betting Principles iTipsports Racing 

Hi and welcome to iTipsports Racing we cover Melbourne, Brisbane, Sydney, Adelaide and Best Bets horse racing and iTipsports AFL, NRL, EPL and NFL.

We offer a Saturday Day Pass, Monthly Pro Pass or Carnival packages such as the Autumn Racing Carnival or Spring Racing Carnival for horse racing and with Sports we offer season packages or our Total Sports Package.

We do not know what stage you are in on your betting investment journey in horse racing and sports betting. Regardless of where you are it is always valuable to understand the basics of investing in this sector to give you the best possible chance of winning. Let’s check out some key pillars to successful investing in horse racing and sports. 

  1. Information
  2. Betting Bank
  3. Staking Plan
  4. Betting Strategy

1. Information

This is such a critical pillar on the way to investing success!! The information you are utilising at iTipsports will be good, well researched information and give you an edge for you against the market. It is difficult to do well long term if you do not have an edge against the market. 

It’s important to know that there are professionals spending tens of hours a week doing the form that the social punter spends his time in between races doing or over a coffee Saturday mornings. Without good well researched information it is very difficult to win. 

At iTipsports we supply you with professional level information so you are ahead of the pack. However well researched information is only the start of your horse racing and sports betting investment experience!

2. Betting Bank – 

A betting bank is part A of a good money management plan. It is important to keep your investing money separate to your everyday money. By having a separate portion of money for investing only allows you to treat it as that…an investment. This will assist you to be able to detach the emotion from a winning or losing day if it does not have an effect on your everyday lifestyle. This means you don’t start to chase your losses on a bad day and many casual investors do this regularly and it brings them undone. 

Typically you will bet say 1% = 1 unit per of your betting bank. So if your bank was say $2,000 you would be outlaying $20 on a 1 unit bet or $10 on a .5 unit bet or 40 on a 2 unit bet and so forth. It is all related to what your betting bank is and how much you want to outlay per bet. And remember we are regularly backing more than once horse in a staking plan per race or in the case of sports the win and handicap bet per game.

In summary, we want your experience with iTipsports of investing in horse racing and sports betting to be a profitable one but also enjoyable so put aside some money that is for “investment only” purposes and give yourself a head start against the rest. Set a bank you are comfortable with and don’t overstretch yourself. 

3. Staking Plan –

This is part B of good money management. Staking refers to the amount you invest per bet. If you do not get this part right you can have access to the best information in the world but if you don’t marry it up with a strategized staking plan then it’s nearly impossible to gain an advantage. 

For example you may see non professional punters have say $50 on a winner that pays $2.10 then they will have $100 on the next one at $1.80. If that wins they may have $200 on the next one at $2 that loses so essentially they have backed two out of three winners but are losing!! 

Allocation of your money across bets is crucial that is why you need a staking plan. And at iTipsports we will give you a staking plan to work to, typically .5 unit, 1 unit, 
2 unit or 3 unit bets to invest in from your bank and if its win or each way. 

4. Betting Strategy 

You need to decide on what particular markets you want to invest and bet in and stick to them. Do you want to invest in the win market the place market maybe you want to invest each way or perhaps multiples like quinellas or trifectas.

It is important you pick your investment type(s) and stick to it so you don’t keep switching from one to the other and miss the upside of the market you were in trying to chase the upside of a market you weren’t in. 

No one can really predict when your runs of winners/losers will come but one thing is for sure provided you have good information, provided you are using a staking plan and your betting bank this will give you the best opportunity to maximise a return if you are clear about what betting market types you want to invest in.

And it cannot be all betting types as this likely just over exposes your betting bank.  

There will be ups and downs in a cycle but it can be made a lot easier if you decide to pick the market(s) you invest in and stick with it. As an aside you can use separate betting banks and staking plans for each category so they are really operating essentially independent of each other but of course only do this with a betting bank you are comfortable with and don’t over expose yourself. And make sure you have the time to get this right.

Have a nice day, good investing and remember always bet responsibly