Advice

The Tortoise and the Hare

(Last Updated On: February 20, 2017)

One of the most famous Aesop’s fable is the Tortoise and the Hare. It tells the story of a race between a tortoise and a hare.

The hare mocks and ridicules the tortoise for moving so slowly. Comfortable in the knowledge that he will win, the hare soon leaves the tortoise behind and is so far ahead he decides to take a nap.

When he wakes, he discovers that the slow-moving but steady tortoise has overtaken him, and won the race.

This reminds me of a lot of bettors.

They’re in such a rush to make profits that they race ahead without learning how to do it properly, they expect to win every bet, and when they don’t… move on to another method.

Ultimately those types of bettors are doomed to lose forever because they’re not taking the time to understand what they need to win.

However, there are a handful of tortoise type bettors who steadily make their way towards profit.

They’re not interested in any specific bet, they’re interested in long-term winnings. They know that if they go slow and steady then they’ll reach their goal.

Here are some of the truths of betting that the tortoise type bettors understand…

1) You will not win every bet. Quite simply it’s impossible. Heck, you’ll only win between 20% and 30% of your bets, which means you’re going to be losing between 70% and 80% of your bets. Practically, that means if you have three bets a day, you can expect to lose 6 days of bets out of every 7!

2) A bankroll of at least 100 units is an absolute must. If you don’t have a proper bankroll then you will lose. If you only have £100 to bet with, then you can only bet £1. Try betting £10 instead and you’ll go broke very quickly.

3) You are likely to only make between 5% and 20% return on your investment. I say ‘only’, but that is an incredible return! In the real-world, this means that if you have £100 to bet with, and bet three times a day, you’re going to be making between £0.15 and £0.60 per day. It seems small, but then so is your investment. This is an incredible return. When you get to £100 stakes you’ll be making as much as £60 per day. Betting profitably is not a get-rich quick scheme, try to do that and you’ll go broke, fast.

Profitable betting is a skill like any other. You’ve got to be the tortoise. Go slow and steady, learn the skills necessary, and you’ll get to the finish line!

All the best,

Michael and the Race Advisor team

P.S. If you’re looking for the ultimate horse racing software, in our humble opinion, this is it.

Michael Wilding

Michael started the Race Advisor in 2009 to help bettors become long-term profitable. After writing hundreds of articles I started to build software that contained my personal ratings. The Race Advisor has more factors for UK horse racing than any other site, and we pride ourselves on creating tools and strategies that are unique, and allow you to make a long-term profit without the need for tipsters. You can also check out my personal blog or my personal Instagram account.

2 Comments

    1. I would recommend that whatever tipster you choose you stick with them for a minimum of three months, but ideally 6-12 months to give them a fair trial. Twelve months should be long enough to overcome any short term downswings.

      Regarding which tipster to choose, you can use our independent proofing at http://www.raceadvisor.co.uk/tipster-proofing/

      You should choose a tipster which has a strike rate that suits your ability to remain consistent during losing streaks (the lower the strike rate the longer the losing streaks). Look at long term strike rates, ROI and results. Also check the biggest downswings they have ever had and use this as a guide to what kind of bankroll you will require to use that tipster. The choice of tipster should be strongly based on your risk levels and ability to cope with losing streaks, then consider the profit and ROI. If you don’t find selections that fit your personality first, then it doesn’t matter how much profit they make, you will be unlikely to stay the course with them through the inevitable downswing periods.

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