The profits of what many gamblers expect from a tipster is way off from what is actually possible and this can be the cause of the gambler messing up as much as it is the mistake of the tipster.
The objective of this article is to try and clear up some of the misunderstandings, help you to set genuine objectives and actually make money by using tipsters.
When you subscribe to a racing tipster you have to carry a lot more to the table than the tipster does. Supposing the tipster is successful, and he is giving you the right selections. But what they can't offer you is the attitude, bank roll and learning from experience.
Here is what you must offer...
1. A bank roll you can manage to lose
2. Commitment for a lengthy enough time to mathematically figure out whether they make money or not
3. A knowledge that the right attitude is needed to bet profitably
Let's go through the actions you need to take. I will believe that you have already invested time doing analysis into various tipsters, and established one that you believe is sincere and successful. Don't do this using on results from a few days, you want at least several months of selections to examine.
Before you start to bet on the selections these are the factors that you MUST consider
How much bank roll can you manage to lose?
Set aside a sum of cash and then add to it the price of a 3 month membership to a racing tipster service. Be honest with yourself. If it is going to create problems if you lose this cash then it is too much to risk. It is essential to not get effected emotionally in losing this cash.
How much should you bet on the selections?
Usually a tipster provides you with guidance on how many sections to divide your bank roll into. I would recommend that you choose to do this on your own! Just because a tipster is relaxed with a certain level of staking, does not mean that you are. Your scenario is absolutely different to a tipster, and they have been making money from gambling for a lot more time and so have a lot more experience than you.
Look at all the horse racing tipster's results and figure out the greatest losing run so far.
Keep in mind that this is the greatest losing sequence so far. There can always be a longer one. To be on the safe side I would recommend you double this losing run and make this that the least amount of units in your betting pot for gambling. For example if the greatest losing run was 25, then I would divide my bank roll into 50 units.
Now split your total bank roll by the quantity of units your bank roll will be created of. E.g. if your total bank roll total is 500 and you have a 50 unit bank roll then you would be gambling 10 per bet. Are you relaxed with this amount? Are you going to want to be gambling more? Can you adhere to the tipsters selections if you have lost 50% or 60% of your betting bank?
If you are not satisfied with any of these questions then you need to re-assess your bank roll.
How much are you anticipating making?
If you are anticipating starting with 500 and going full time within a few weeks then I would recommend you quit gambling now. This is just not possible. Your objectives must be realistic. If, over a period of three months or a few years, your picks are creating more than 10% revenue, then you are doing well.
Starting with a 500 bank roll and putting 10 wagers, this means that if our tipster is providing us 3 bets a day we are gambling around 900 monthly. If we are creating 90 or more revenue monthly then we should be satisfied. Anything above this should be regarded a extra.
After all you will be increasing the money in your betting pot every six months, do you know any other way of doing that?
An unrealistic profit expectation is one of the greatest negative points for a lot of gamblers. They are anticipating hitting 10/1 or greater priced winners every day. This will not occur.
Are your ready to try the tipster for a reasonable long period of time?
Statistically, trying a horse racing selection service for less than 3 months is not worth it. You will not have had enough details to actually figure out whether or not the tipster's choices are successful.
All tipsters go through upswings and downswings. The time interval of these last can differ. By stopping using a service after a couple of weeks you are not getting enough details to figure out how the losing run was doing without understanding whether the winning runs are going to protect your failures and generate enough revenue.
Gambling goes in up and down in cycles. Any tipster profit/loss information will contain highs and lows. You have to go through enough of these periods to be able to figure out if the revenue periods over-shadow the losing periods.
Are you ready to lose with of a lot of your bets?
This is perhaps the most challenging emotional step to accomplish in successful gambling. Just because you aren't getting more winners than losers does not mean you aren't creating revenue.
A tipster with a very great successful amount of winners may win 30% of their wagers. It is much more regular for a tipster to win between 20% and 25% of their wagers.
If a horse racing tipster is successful in 20% of their wagers then they are dropping 80% of them! Read that again. If a tipster is successful in 20% of their wagers then they are LOSING 80% of their wagers.
THIS DOES NOT MEAN THEY ARE NOT PROFITABLE
I have put that phrase in capital letters because it is one of the most significant factors you will ever comprehend. Just because you have lost 10 wagers in a row does not mean that the tipster will not be successful by time you have completed your preliminary 3 month trial run.
Do you realize you are becoming a member of tipster service at the start of a losing run?
Most tipsters promote and advertise their service when they are doing well. Of course, this is when punters want to get their selections. However the winning run is followed by a down swing. If you join a tipster when they are promoting the service on an upswing, then you have also registered them at the beginning of a down swing.
You need to recognise that when join a tipster you could get several weeks of bad results. There is nothing you can do about this; it is just how the industry performs. If you have done your analysis on the tipster, and followed everything in this article then you have nothing to fear because you are going to be getting their choices for several weeks whatever happens.
You now have some of the top advice about how to profit using a tipster. You must take all of this into consideration when assessing how a professional tipster performs.
We all want to create immediate income. Unfortunately it is just a dream. You cannot earn cash without hard work and even when using a horse racing tipster you still have to know how to perform. As you get more experience you know how effective gambling performs, being regimented in your strategy, knowing what returns you should anticipate and not performing on emotions are the keys.