10 dangers to avoid at all costs if you want to win on the punt

THERE are a squillion ways to lose on the punt. Here are 10 dangers you need avoid if you want to make your day at the races a success.

THE gambler’s lament is well entrenched in the folklore of betting. There are a squillion ways to lose your hard-earned but not too many to balloon the bank balance.

We all like the idea of winning a little extra coin and it can be heaps of fun at the races as long as you don’t tumble into some of the pitfalls we’ve listed below.

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CUP DAY: EVERYTHING YOU NEED KNOW

SNEAKY CHANCE PODCAST SPECIAL GUEST KATELYN MALLYON TALKS HOSTILITIES TOWARDS JOCKEYS, RIDING FOR FIVE-TIME WINNING OWNER LLOYD WILLIAMS AND, OF COURSE, FINDING A WINNER ON DERBY DAY.

THE TRAVEL BUG

Just because it looks like a duck and quacks like a duck, doesn’t necessarily make it a duck. In other words, don’t be swayed at the last minute by someone that appears knowledgeable in the art of finding winners. You’re not going to be sitting opposite Isaac Newton in your comfy carriage bound for Flemington racecourse as he explains the logic behind the winners in Race 3 and 5. So you can stop your eavesdropping and fumbling for you trusty biro. It’s fool’s gold. How many times have you found yourself saying: “Did you hear what they were saying? What was it’s name again?” only for it to finish unplaced. If you’ve put in the time to study the form, you’ve earned the right to back yourself.

EVERYONE IS GOING TO HAVE A TIP, NOT EVERYONE WILL HAVE A WINNER

Bang! You cannot beat that winning feeling when your horse sails in.

THE FAVOURITE

Backing favourites is a well-travelled path by the uninitiated. Punters who only venture to the track during the carnival period are prone to this practice. It can be fruitful but statistically on most afternoons only an average of 30 per cent of favourites salute. At Flemington during Cup Week the past few years that figure has been considerably less. But this type of punting is not doomed. You can succeed at this if you manage to eliminate a few ‘false favourites’. By removing them you’re not betting in every race, and, as a result, you don’t need to find as many winners. Which brings us to the next category.

FAVOURITES ARE NOT YOUR SALVATION

MORE TICKETS THAN SENSE

The ‘more money than brains’ strategy is the most common form of betting and easily the most damaging. Only needs to be said once: You will not win betting in every race. Now repeat 10 times. It won’t be enough but you might reflect on it once or twice during the day and manage to keep your powder dry. Consider throwing in a diversion. If nothing really jumps out at you in the form guide in the next head to the bar or a stroll and check out the talent elsewhere instead of the four-legged variety. You’ll miss a race but you can easily reload in the next. It’s fun betting in every race but the odds of you finishing in front are remote, somewhere like Antarctica.

DON’T BET EVERY RACE EVERY WHERE

You’ve got to be at the top of your game for the demands of a day at the track. Picture: news.com.au

THE TIME BOMB

The day is flying by and you slipped into that almost euphoric three drinks mode where absolutely nothing can go wrong. You’re a little up or a little down in the coin department. No alarm bells. The company is good, you’ve sussed out your location and everything seems picture perfect from here on in. It’s time for the heroics. A period referred to by some seasoned punters as the time to launch. Oh, how we love the launch pad. If it’s not your best bet and you’re not overly confident about your tip, there is no need to go gangbusters to impress your friends. It can really flip your day if it doesn’t come off.

FROM HERO TO ZERO

Too many frothies can bring you undone in spectacular fashion.

BINOCULARS OUT, BOOZE GOGGLES ON

The biggie! Up until now form analysis has been relatively pain free and with a little bit of assistance from friends when required, you’re firing on all cylinders. But by adding a few delish cocktails or coldies to the mix and suddenly a few extra variables begin to blur the picture. This really is the well-versed cocktail for disaster … the grand daddy of them all. In an instant your best bet doesn’t seem as appealing as it did earlier, you’ve just noticed a DK Weir runner and Kerrin McEvoy is riding the fav. The distance doesn’t seem right but you’re feeling the urge to have a quinella, duet, trifecta and a First Four, plus you’re going to back three runners because you cannot split them. You’ve just switched on the washing machine and it’s one click from the spin cycle. Three or four races stuck here can be life-changing and for all the wrong reasons.

THE SPEAK EASY DOESN’T MAKE IT EASIER

THE CHASE

Just half an hour ago you were travelling in the first-class carriage … now you’ve heading south down the aisle and could very easily find yourself in the caboose car if you’re not careful. The chase can be exhilarating and rewarding, but it’s also the quickest way to the ATM queue long before you imagined when you left home this morning. If you’re going to indulge in this swashbuckling behaviour at least temper some of your wagers in case they go belly-up. You won’t feel half as bad.

DON’T CHASE YOUR LOSSES

IRRATIONAL, INCONSISTENT BETTING

Now, let’s make one thing clear here … a lot of professional punters will have betting strategies that they have written in stone. Devising a system can be bring about a good return. But you must stick to it. The same can be said for us average punters when it comes to how much you put on a runner. Try and be consistent and don’t fluctuate to the extreme with your wagers. A friend of mine amassed 13 winners in a day recently but only managed to win $150 (true story). The reason? He threw logs on his losers and matchsticks on his winners. If the favourite is really short, you might need to increase the wager, but if you’re on a small budget consistency is the key.

SLOW AND STEADY WINS THE RACE

THE LOAN AND THE GLOATER

These two categories fall under the same group … friends. Yes, the undoing of many a fine afternoon on the punt. As the day’s end nears a friend in need can often come a knocking. You know you cannot say no, particularly if you’ve been dancing back and forth from tote window all day with your purse or wallet overflowing with cashola. It’s not the loan that does the damage, but that sudden urge to recover your most recent transaction. I almost have a phobia when it comes to lending money late in the day. And it has nothing to do with being tight. Superstitious? Maybe, but I cannot care to think the amount of times a loan has carried my ship up on to the rocks. And then there is gloater. The smug one, who’s pillaged a small fortune from their deeds. Don’t fall for it and try and outdo them. It never works.

IF YOU CAN’T BEAT THEM, DON’T TAKE THEM ON

THE SCAREDY CAT

I’ve been in this spot many times. You’ve paid off some of your cards, been hit with the annual dental appointment bill and gone all out on the new wardrobe for race day. Now you’re a bit short. There is nothing worse heading to the track and being light in the coin department. This can and will mess with your judgment. Mentally you’re cornered as soon as you step on to the track. Knowing that you must be winning from the outset changes your whole mindset. Don’t think I’ve ever won from this situation. You’re unlikely to back that roughie that you like and are often forced into playing percentages by backing the favourite, sometimes with devastating results.

DON’T GET CAUGHT SHORT

THE DESPERATION STAKES (AKA THE GET OUT)

One of most flawed forms of betting and it’s timing makes for breathtaking defeats. Your day’s done. You’re financially destitute, you’re emotional broken, your outfit’s a mess and your thought process is slurred by one too many drinks. At least someone loves you, the corporates or the TAB. It’s the ultimate ambush. Someone well down on the punt has also bottomed out in judgment. If you’ve whittled away a tenner a race, don’t all of sudden think you’re at a Vegas poker tournament and decide to go all in. Nine times out of ten it won’t end well. Even at the track, you’ve got to know when to hold ‘em and when to fold ‘em.

PLAY IT SMART LATE

THE AFTERMATH

Go straight home. Please! I’m joking

The bottom line is you shouldn’t have any problems if you bet in moderation and responsibly. The shortfalls of the average punter are many and varied. We all love a flutter and if we lose a couple of bucks on a terrific day at the track, who really cares? No one gets hurt, right!

Finally, best of luck to everyone during at Cup Week.