What does it take to make a living at punting?

[Sightseek]

Originally Posted by blackthroatedwind

I played full time for years. It takes a severe dedication.

In regards to track handicappers, is this what most of them do for their full-time jobs? It seems most of the picks they give out are "safe" plays and not the horses that are at a good value. I'm guessing what they play at the window is much different?

[blackthroatedwind]

Originally Posted by Sightseek

In regards to track handicappers, is this what most of them do for their full-time jobs? It seems most of the picks they give out are "safe" plays and not the horses that are at a good value. I'm guessing what they play at the window is much different?

I think very few of them bet even a reasonably significant amount and almost all lose. You are making a mistake if you consider these people expert handicappers....in general.

It's about understanding how to win....and few people do.

[Sightseek]

Originally Posted by blackthroatedwind

I think very few of them bet even a reasonably significant amount and almost all lose. You are making a mistake if you consider these people expert handicappers....in general.

It's about understanding how to win....and few people do.

So are they just paid by the track to give something to help guide the first-timers to the track? I notice and question the strangest things.

[blackthroatedwind]

Originally Posted by Sightseek

So are they just paid by the track to give something to help guide the first-timers to the track? I notice and question the strangest things.

I actually thought you were referring to random newspaper handicappers. To be perfectly honest I don't pay attention to any of them.

[Sightseek]

Originally Posted by blackthroatedwind

I actually thought you were referring to random newspaper handicappers. To be perfectly honest I don't pay attention to any of them.

Well them too.

[Thunder Gulch]

Just my opinion, but I believe with if the time, knowledge, and energy required to scratch a living at the track were applied to other endeavors, you would come out far enough ahead to work, live, and take trips to Saratoga, Delmar, or wherever you wanted every summer. After several years you could own them instead of bet them if you were so inclined....even the guy who claimed in the other thread to make $35,000 of of $1,800 is working below minimum wage to get those results (however bogus they are.)

I feel that the most important thing is where you are in your life. Do you have a mortgage, do you have children, do you have a car payment, etc etc. If you need $3k a month to pay your bills just to survive then maybe being a professional gambler isn't the best career choice.

Also, you have to treat anything that is your sole income as a full time job. If you are a professional gambler, it might mean that you only play a couple of races a week or it could mean an entire day wagering. It requires dedication, continuing education, in depth analysis and extreme patience.

I also feel that you need to set a weekly financial goal. Wether it is $500 or $2000 a week. Then one has to pick the races for that week that gives you the best chance of winning your weekly goal. Maybe it is a simple bet like an exacta box or just playing to win. An aquintance of mine is a professional horse player. He has zero debt and no one that relies on him for anything. He plays only exactas. He searches for exactas that pays $18 or higher. Then he will play a $200 exacta box. The cost of his ticket is $400 and if he hits then his gross payout is $1800.00. His net would be $1400.00. He has done just OK. Nothing really to brag about but he does it for 10 hours a day, 7 days a week.

[paisjpq]

Originally Posted by eurobounce

I feel that the most important thing is where you are in your life. Do you have a mortgage, do you have children, do you have a car payment, etc etc. If you need $3k a month to pay your bills just to survive then maybe being a professional gambler isn't the best career choice.

Also, you have to treat anything that is your sole income as a full time job. If you are a professional gambler, it might mean that you only play a couple of races a week or it could mean an entire day wagering. It requires dedication, continuing education, in depth analysis and extreme patience.

I also feel that you need to set a weekly financial goal. Wether it is $500 or $2000 a week. Then one has to pick the races for that week that gives you the best chance of winning your weekly goal. Maybe it is a simple bet like an exacta box or just playing to win. An aquintance of mine is a professional horse player. He has zero debt and no one that relies on him for anything. He plays only exactas. He searches for exactas that pays $18 or higher. Then he will play a $200 exacta box. The cost of his ticket is $400 and if he hits then his gross payout is $1800.00. His net would be $1400.00. He has done just OK. Nothing really to brag about but he does it for 10 hours a day, 7 days a week.

totally agree with the first part...full time gambling is something I think should be for the person who does not have any dependants. That way if you go under the only person you hurt is yourself.

[ninetoone]

2 things you've gotta have IMO:

1. Lots of disposable income, and enough bankroll behind you so that you're not betting "scared"

2. A little bit of luck. I like the analogy of the so-called expert money managers who pick a stock or fund at the beginning of the year....then they have a monkey point to one (or someone throw a dart...whichever). The monkey or dart always finish respectably. This is not a science. The charts and speed figures and research are certainly valuable information, but at the end of the day, they've gotta run the races, and horses take bad steps & jockeys make bad choices.

Just my 2 cents & I agree with you that it would take the enjoyment out of it for me too...

[Thoroughbred Fan]

luck!!!!!!!!

[ninetoone]

Oh yeah...If you can kick it consistently to about the 10 yard line with a lot of hang time and no return, that helps. Don't go for the one yard line....it'll just bounce or roll into the end zone & frustrate you in the long run....and don't think you can count on the special teamers to swat it back out into the field of play....they almost always step on the line. And...it helps if you can still look cool in the "unibar" helmet....although I guess that's outlawed now...

[SCUDSBROTHER]

You need to get paid well when you are correct.Getting paid well for it is very difficult.So,these exchanges(that allow players to cut the juice to a minimum)would be the way to go.If a horse pays $6.00 to win at the track,you need to find a way to get atleast $7.00 for it(minimum.)The best exchanges are in Europe.I play TVG,because I want to help pay the purse money etc.,and I am a horizontal player(and don't trust some of these rebate sites to pay when... for instance,last year, I won a $5800 on a pick 3 that I only put $16 into...that would have been a nightmare to get a rebate site to pay up.)Lets say you play just one bet a week.You isolate some horse that pays $6.00 to win at the track.You put 2K on it to win.If you play it at the track,you make 4k.If you play it at a rebate site,you get what? 4k + 7% of 2K bet($140)=$4,140 profit.This is not enough to make a living.To make a living,you need to find an exchange,and get that profit(for this 1 weekly bet) to the 5k range.That means getting your $2 payoff to $7(atleast) while others get $6.00.

Profit at track=$4,000

Profit at rebate site=$4,140

Profit at an exchange(if you get a $7 payoff on a track 2-1 shot)=$5k

You need to get paid more(while taking the same risk of losing that somebody betting track odds takes.)

[cmorioles]

Originally Posted by SCUDSBROTHER

You need to get paid well when you are correct.Getting paid well for it is very difficult.So,these exchanges(that allow players to cut the juice to a minimum)would be the way to go.If a horse pays $6.00 to win at the track,you need to find a way to get atleast $7.00 for it(minimum.)...

I wouldn't bet without a rebate anymore. I bet the bare minimum to get BrisBet video, the rest with Pinnacle. I'm now dabbling with eHorseX, but you can't bet a lot so far.

[Thoroughbred Fan]

The post about track handicappers giving "safe" picks brought something to mind. All you want is safe picks. I would rather have a day full of even money winning tickets in my pocket than one $50 winner and a whole bunch of losers. This is not a bragging rights game where whomever picked the longest winner of the day wins the prize. Doing it for a living is completely different.

Also, consider the DRF, Sheets, etc as part of what you are betting each day. That can be up to $100! Now beat those costs and the takeout. Do it regularly enough to cover your living bills and let me know how you do it.

-TF

[cmorioles]

Originally Posted by Thoroughbred Fan

The post about track handicappers giving "safe" picks brought something to mind. All you want is safe picks. I would rather have a day full of even money winning tickets in my pocket than one $50 winner and a whole bunch of losers. This is not a bragging rights game where whomever picked the longest winner of the day wins the prize. Doing it for a living is completely different.

Also, consider the DRF, Sheets, etc as part of what you are betting each day. That can be up to $100! Now beat those costs and the takeout. Do it regularly enough to cover your living bills and let me know how you do it.

-TF

I guess it depends on how many "a whole bunch" is, yes? I'd take one $50 winner and 24 losers every single day. This was about making a living, and you aren't going to do it betting even money shots.

Unless someone is buying the sheets or TG, there is no way you have to spend that much. I bet from home, and my only expense is for monthly comma delimited charts from BRIS, $76 per month. I don't pay for PPs as I do some consultant work and get them for free, but if I didn't, I could get unlimited PPs from TSN for $60 per month, or from HDW for around $100 I think.