Advice

When Do You Decide To Stop Betting

Photo of Michael Wilding Michael WildingJune 25, 2015
9 1,123 Less than a minute

WhenDoYouDecidetoStopBetting

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Photo of Michael Wilding Michael WildingJune 25, 2015
9 1,123 Less than a minute
Photo of Michael Wilding

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.

9 Comments

  1. Thanks Michael,
    I wish i had came across this info before i lost heeps to a system that didn’t work for me.

    I am so grateful for all of this info that you are providing us with.

    Best Wishes James

  2. Hi Michael

    When to stop betting…. I joined a system towards the back end of last year, its never been in profit. Very frustrating, a lot of my profitable days on a personal level have been turned into losses due to the system. I will not name the system builder or the person who recommended it, but i will say i hold the recommendee in the same regard as your good self. They know there onions. Do you have any suggestions? From reading a lot of articles on downswings and emotional detachment a lot provided by you i continue to plod on with it however it is very draining backing loser after loser. Its been a 2 steps forward, 3 steps back never getting anywhere system. Any thoughts will be greatly appreciated

    1. To James – have you tried plugging the system rules into a database like horseracebase? This might give you some clues about how to tweak the system so it works for you – I’ve turned losing systems into winning ones by restricting classes, distances, courses etc and assessing whether or not a staking plan may help where losing runs are frequent but relatively short.

    2. I would analyse the selections, quantity of selections and then estimate the expected downswings. If it’s a low selection system it’s quite possible that is within expected variance, but if you’re unsure you should check all of those stats out and determine if the downswing and variance is to be expected or if it’s moved outside it.

  3. A beautifully crafted graphic reminding me of some of my problems and failings.
    However I am a lost cause because i win enough not to be a total loser anyway
    and I really enjoy getting ideas from other tipsters – even the yoyo ones. If I were
    50 years younger I would be looking for a job as a tipster; in the olden pre-digital days,
    the saying “Those who can… do… Those who can’t… teach”……I taught.
    Much easier i suppos than bing a tipster..

  4. Great content!
    Is ‘expected normal variance limit’ similiar to the expected longest losing run? Also how can you calculate your ‘Edge’ over the market?

    1. Longest losing run is similar to expected normal variance, expect increase longest losing run by two or three to get a rough idea. Also check out potential downswings which are very different, you can always do this by creating random numbers in excel to the strike rate expected and drag it down over the equivalent of 5 or 10 years worth of bets to see what kind of downswing you’d get over that quantity. I’m going to write an article about calculating edge 😉

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