13 June 2008 - So you want to be a professional gambler?

One of the questions I’m asked most often is “how do I go about going ‘full time’ as a professional gambler?”

A significant part of my income comes from my betting activities, so I guess I am qualified to talk with some authority on what it takes to make money from betting.

A true professional gambler will be involved with betting opportunities in many sports – he is not concerned by whether he enjoys playing or watching a particular sport. What he will be concerned about, is unearthing a potentially profitable opportunity, where the price offered about the outcome of an event is too high compared to the actual chance of it happening.

In other words he is looking for those golden nuggets where the bookmaker has made an error in pricing up an event, and in favour of the punters. It could be tennis, football, horse racing, snooker, it does not matter to the professional punter.

However, because I study horse racing and horse racing form on a regular basis, then I believe my advantage over the bookmaker is my knowledge of horse racing. That is why personally I bet almost exclusively on horse racing.

So I can only really answer the question of “how to be a professional gambler” from my own personal perspective. But here goes….

Anybody who earns their living through betting will need to focus on three key areas if they are to be successful:

1) Discipline
2) Betting bank and staking plan
3) Bet selection

I will spend a little time discussing each topic.

DISCIPLINE

By exercising ‘discipline’ what I mean is “you need to take your betting seriously – treat it as a real business to get business benefits”. This means keeping records of all your bets, sticking to a strategy, keeping emotion out of your selections, not chasing your losses, you know, all the things you’ve heard a million times before!

The thing is, if you do not adopt a professional attitude to your betting, you cannot call yourself a professional punter. If you don’t take your source of income seriously, then you are just another mug punter, and (trust me) the bookmakers will end up taking your income from you.

Any pro-punter will admit they suffer from a losing run from time to time. However, the professional will rarely lose their entire betting bank because they maintain their discipline – they know what has brought them success and profits in the past, so they continue to adopt the same strategies until they enter a winning streak or an upturn in results.

BETTING BANK

The most common question here is “how big should my betting bank be?” Well, this is personal to you and you alone. But whatever the size of your bankroll it should always start out as a sum you can afford to lose. I know you’ve heard this one a thousand times over! It does not matter if you start out with just fifty quid, as long as if it goes down the plughole it does not leave you in hardship.

Look upon your betting bank as the capitalisation of your new business – professional gambling. Treat your betting bank as your business funds, and with the same respect and discipline you would were you in a conventional business of your own, and you are half way to being successful.

STAKING PLAN

Remember, Ia m giving you my own personal opinion here. Ideas on staking plans differ, but mine is simple – LEVEL STAKES.

Others will disagree, and I am not saying that other staking plans do not work. They will say that a staking plan that maximises your profits whilst minimising your losses is crucial. What I am saying is that for me personally I believe that if you cannot first turn a profit using a level stakes approach, then you need to modify your selection process before altering your stakes.

I tend to risk no more than one per cent of my bank on any one selection. Betting to relatively low stakes allows me to maintain my discipline, as even a long losing run will have little impact on my reserves overall. Remember what I said about betting without emotion? Let me tell you, if you have lost three quarters of your bank because of your high stakes and an unfortunate losing run, then your judgement with each successive bet will be badly affected.

BET SELECTION

Most people (and by that I mean the ninety eight per cent of punters who lose money) tend to focus all their attention on how to make profitable selections, without regard to discipline nor their betting bank. All three areas are equally important and you should perhaps view them each as a leg on a stool – remove any one of the legs and your dreams of earning a living from betting will come crashing down.

If you have a solid method of selection that you are able to follow rigidly through losing periods, as well as good, and you also have the discipline to stick to your staking plan, then you should show a long term profit from your investments.

It may be you do not have your own system, or perhaps you do not have the time to study and make selections. In which case you can follow the services of a tipster. Finding the right tipster is a topic all on its own, and we do not have the time to do it justice here.

The most important factor in placing your bets, and this is more often than not overlooked , is to get a good price about every single bet you make. Always, and I mean always, search for value. If you do not find value, then honestly it is better in the long run to leave the bet alone. In the case of horse racing, if you consistently back horses at prices too high compared to their actual chance of winning, then I promise you will make money in the long run.

About the author: Max Redd has been making a living from betting on horse racing for over 10 years. He runs the Redd Racing betting advisory service which offers all prospective members a free trial and a money-back profit guarantee. Find out more at http://www.reddracing.co.uk

17 February 2008 - Today's Best Bets

Morning everyone!

Here are my two best bets of the day. Bet to level stakes, or for a bit more excitement combine them in a double. Good luck if you are playing today.

NAP: Sthl 430 Haroldini

NEXT BEST: Sthl 200 Saviles Delight

Don't forget to visit ReddRacing.co.uk for a free seven day trial of my private service.

17 January 2008 - Do NOT subscribe to any horse racing tipster service without reading this

Have you ever fallen foul of a terrible horse racing tipster scam? In this article professional punter Max Redd gives you a valuable heads-up on what to look out for to avoid unwittingly handing over your hard earned cash to a con-man.

This piece starts with an email I received not too long ago from a new member to my racing advice service. In the mail the new lady member informed me how she had fallen victim to one of the oldest tipster scams around. Unfortunately this type of con is all too commonplace, and in this case made a victim of a lady with little knowledge of betting. What is more concerning, is that for the con-artists to continue using these methods means there must be a never-ending supply of unwary people forming a queue to be exploited.

I write this article hoping I might at least make a few people aware of what to look out for.

The story starts with the typical piece of junk mail which regularly gets posted through our letterbox. It contains incredible promises of huge profits to be gained from following this guy's betting advice. As 'proof' of this guy's expertise there is a page of simply brilliant results, of dozens of horses winning at big prices.

Now admittedly, I myself guarantee a significant income to members of my betting service. However, what I do offer any potential member is the opportunity to try my service first hand, with a free trial. This tipster was looking for the initial month's membership fee up front, sent to an anonymous PO Box.

So, my first piece of advice would be "never send a tipster any money, until you are satisfied of his credentials." Ask for a trial period with his service before you agree to send any money. If he replies with a 'no' then you have not lost anything.

More often than not, you will find no way of getting hold of the tipster to put this question to him -- no email address, no telephone number, only the anonymous PO Box address. This strange wish to remain incommunicado should also tell you a lot about him!

Returning to the story of our friendly neighbourhood tipster and his glossy piece of marketing copy -- after sending off a cheque for a not insignificant amount of money, the lady in question received a 'newsline' telephone number, and it was suggested she call the number every day for the tips. I know what you are probably thinking, but in this case it did not turn out to be a premium rate number that costs goodness only knows how much to call each day. This is an often used trick, and everyone should be very much aware of the high costs involved when calling telephone numbers pre-fixed '090' especially if they have already paid a membership fee.

After following the tips for a week or so, the results were only poor to average, and certainly nowhere near those advertised by the convincing marketing literature.

The next piece of advice may be a cliche, but is still holds true -- "if it seems too good to be true, then it most probably is!"

After about a week, this lady received another letter, telling her that if she wanted to hear about a 'sure-fire winner' in Australia's Melbourne Cup, then she needed to call another number. When she called she spoke to a man who explained that for her to receive details of the horse, she must first agree to place some money on it, on behalf of the tipster. His lame excuse was that because he had been so successful with his betting in the past, all the bookmakers had closed his accounts, and he now finds it difficult to place bets himself.

The lady was asked to put £200 on for this tipster, and in addition whatever she could afford to wager herself. The horse in question, if we were to be taken in by the hype from this tipster, "categorically could not lose".

She placed her money with her high street bookmaker, and I suspect you are well ahead of me and can guess exactly what happened. In fact, she lost £300 in total.

Two things to bring to your attention here -- firstly, the tipster takes absolutely zero risk in this transaction. If the horse fails to win, then it is just you that loses money. If it happens to win, then you will be forced into mailing the con-man his share of the profits. Secondly, as if you didn't know, there is no such thing as a 'sure thing' in any race. Even more so in such a high profile race as the Melbourne Cup -- its the biggest race of the year in Australian horse racing, and each and every one of the horses will have been entered with a chance of winning.

This kind of scam is even less believable nowadays. What with the betting exchanges, the situation where various bookmakers have closed your accounts is now completely irrelevant. Companies such as Betfair have no concern that you are a winning customer, and they will never shut down your account.

Whenever you are shown a set of 'incredible' results from a tipster, the first thing you should do is ask if these results include ALL the selections given. In other words, try and find out if the tipster trying to hide any losers which would subtract from his results? The previous lesson also applies here: can you easily contact the tipster, and how quickly and positively does he give his response?

If the results are actually complete, then we can analyse them a bit further: note down the total number of bets. This is the total we would have laid out. By way of an example let's say that there are 100 bets -- you would have placed 100 points in bets.

Let's say that when you add up all the claimed winners, the returns add up to 203 points. So, you would have invested 100 points in 100 bets, which returned 203 points to make a profit of 103 points. Outstanding profits.

But now let's take a reality check! 103 points profit on an investment of 100 points gives us a return on investment of 203% This is calculated by dividing the 203 points returned, by the 100 points originally invested.

If you were to ask any professional punter, they will suggest a good return is 120% -- very good is 130% -- and anything over 140% is at best unsustainable, and at worst an outright fabrication. Myself, I give myself a pat on the back when I achieve over 130% ROI for any particular month, and more likely I will only achieve around 120% - 125%

To summarize,

1. Be wary of any service that asks you to call a premium rate number for your selections. You should be aware that you will be spending over £100 every month on telephone calls BEFORE you have even started to make any profit.

2. Do not be fooled by someone who suggests they have a 'dead-cert' winner that cannot lose. Every horse, in every race has some chance of coming first, and so you will never find a horse 100% certain to win.

3. Never be afraid to question a tipsters results -- never take them at face value.

4. Do not send a tipster any of your money until he has proven himself to you over a period of time, or he has been recommended to you personally by a trustworthy person.

5. Be cautious of any tipster who hides behind an anonymous PO Box number, or proves awkward to contact. Does he reply to your questions promptly and credibly?

6. If it seems too good to be true, then it most surely is.

7. Never allow yourself to be persuaded to place a bet on behalf of a tipster. His excuse that he cannot place bets personally does not hold water when we can now take advantage of betting exchanges, and only means he is hoping you will take all the risk in placing his bets.

8. Is the tipsters claimed Return On Investment realistic -- you would be wise to suspect anything over 150%, which you will probably find is an exaggeration.

Max Redd has been making a living from horse racing for over ten years. He runs the Redd Racing betting advisory service and you can try his service FREE at www.ReddRacing.co.uk

4 December 2007 - The Spirit Of True Competition In Horse Racing

Next year Lewis Hamilton could be the first sportsman in history to earn in excess of one BILLION dollars as arguably the best formula one driver in the world. Yet this year, the title of best jockey in UK horse racing was shared by two men, and neither received a penny in recognition. So what drives a jockey to win the jockey championship?

The answer is simple – PRIDE

In taking the Open Golf Championship this year Padraig Harrington pocketed GBP750,000. Not bad for four days work. Roger Federer had to put in a bit more effort to claim the men’s Wimbledon title, a whole two weeks in fact. But he was rewarded handsomely with a cheque for GBP700,000.

Jamie Spencer and seb Sanders shared the Champion Jockey title, both having scored the same number of wins during the season. Yet the reward for success from the sponsors was just £10 per win (around GBP2,000) which was all donated to charity.

The UK horse racing Flat Season lasts for eight months and ends in mid-November. Between them, Jamie Spencer and Seb Sanders notched up more than 2,000 rides. That equates to an average of more than four rides, every single day, for eight months. Take out the occasional ‘day off’, days when injury put them on the sidelines, and days out due to suspension, and it is clear the amount of dedication required of a jockey to win the title.

But it goes a lot deeper than riding in a lot of races. The everyday life of a horse racing jockey is incredibly gruelling. We often hear about the top-flight horsemen such as Frankie Dettori, Mick Kinane, and Kieron Fallon, flying all over the world to compete in some of the richest horse races on the planet. This glamorous picture of life in the saddle is but one side of the coin.

On the other side you have jockeys such as Spencer and Sanders, plus many, many more who make their living steering thoroughbreds around the race courses of the UK.

A typical day for a jockey will start at first light with riding work on the training gallops. Then it is off to whichever race course is staging a meeting that day. And in the UK that meeting could be anywhere from Exeter and Bath in the South of the country, to Perth and Musselburgh in Scotland.

Nowadays horse racing tales place pretty much every day of the year, with only a few exceptions. Flood-lit all-weather tracks also mean racing in the evening. It is not uncommon for a jockey to compete on the turf during the afternoon, then dash up the motorway to an evening meeting on the artificial surfaces of Wolverhampton or Kempton. Often the last race in the evening might be as late as 9:30pm. Then the jockeys must weigh-in, and attend any presentations if successful, before changing out of their riding silks and making their way home. It is not unusual for a jockey to be arriving back home in the early hours of the morning, and setting the alarm clock for 6am to start all over again.

Approaching the climax of the season, one particular day Jamie Spencer drove from his home in Newmarket to London for a hearing at the Jockey Club, then flew to Scotland for racing at Musselburgh, then back to Wolverhampton for the evening meeting which ended with the 9:20pm race, before finally returning to Newmarket. A round trip of some 900 miles. A few jockeys have the luxury of drivers and private flights paid-for by owners. But the majority of journeymen riders have to make-do with car-sharing and endless miles up and down the motorway.

And then there is the challenge of the jockeys’ diet. Everybody knows that jockeys have to maintain feather-weight proportions. They achieve this by surviving on a meagre diet of boiled fish or chicken, and a few cups of tea without milk.

The biggest danger of following such a restrictive diet in pursuit of success, is that of de-hydration. In a bid to avoid taking on extra weight, a jockey will drink less, especially during the course of a race day afternoon. And if he needs to shed a few pounds he will sit in a sauna and sweat the weight. The effect of de-hydration can be loss of concentration and even fainting.

People may think that riding a race horse is little more than pointing him in the right direction and kicking him in the belly to get him going. Nothing could be further from the truth. Highly-strung thoroughbreds need little encouragement to run at full tilt, and in fact most need restraining during the early part of a race. It takes considerable strength and power to control half a ton of muscular animal travelling at 30 miles per hour. Equally, it takes physical effort to drive a horse out to the line in a close finish. All this on boiled chicken and tea!

Returning to the original question, of why jockeys will put themselves through this arduous routine?

“It’s all about the prestige that comes with claiming the title.” Explains British Horse Racing Authority spokesman Lucy Watson.

The names on the Trophy include many of the Racing Greats – names such as Gordon Richards, Lester Piggott, Willie Carson, Pat Eddery, Kieron Fallon, and Frankie Dettori. To have your name engraved alongside their ‘heroes’ is what drives people like Sanders and Spencer.

The top jockeys get paid for each ride – a fee of £125.94 from the owner. In addition they will normally receive 10 per cent of any prize money. Jamie Spencer has winnings to his name in excess of GBP2million this season and will earn around GBP200,000 through prize money alone. But then Spencer is Champion Jockey and trainers and owners alike all clamour to book him to ride their horses. He doesn’t find it difficult to get rides on the very best horses. It is something of a self-perpetuating upward spiral. If you are good, you get to ride the horses with the best chance of winning, and you win more races.

But as you might imagine, it works the other way too. Spare a thought for the other jockeys that make up the numbers in each and every race. They often have to take whatever rides they can, on horses not likely to win, at courses all around the country, and shouldering all the inherent travelling expenses. All in the spirit of this great Sport Of Kings.

Max Redd has been making a living from horse racing for over ten years. He runs the Redd Racing betting advisory service and you can try his service FREE at www.ReddRacing.co.uk

17 October 2007 - For Life | Ling 530

I am going to oppose For Life at Lingfield this afternoon. The gelding has produced 3 wins and a 2nd in its last four runs, but I think his winning streak will come to an end today. He is moving up in company to class 4 which is a more significant rise than class 5 to 6. He is also carrying another 4lbs courtesy of the handicapper. Punters will see two recent wins, and the 5lb claiming apprentice on board and assume this is an added advantage, and drive the price down. But Natalia Gemelova has partnered the horse each time, so her 5lb claim is negated. This horse will be over-bet and if I can get matched below 11/4 I shall be having a bet.

Max Redd has been making a living from horse racing for over ten years. He runs the Redd Racing betting advisory service and you can try his service FREE at www.ReddRacing.co.uk

16 October 2007 - Mountain Pride | Leic 310

Took a real kicking last week from Godolphin and their 2 year olds. I bet against three of them, and they all won. Feeling battered and bruised so I'm going to get myself some healing by opposing Mountain Pride at Leicester this afternoon. It's the colt's third attempt to lose his maiden tag, and I'm not sure stepping up to a mile with conditions getting softer underfoot will be ideal. If I can get matched below 15/8 I will have the bet. Frankie cost me money last week so I hope he's done with me for a while!

Max Redd has been making a living from horse racing for over ten years. He runs the Redd Racing betting advisory service and you can try his service FREE at www.ReddRacing.co.uk

12 October 2007 - Calming Influence | York 350

Saeed Bin Suroor and his juvenile horses have made me look silly twice this week, but I'm going to put my neck on the block one more time this afternoon. Surely Frankie cannot get another debutant past the post in front, when my money is against him? Calming Influence at York 350 and bet only if matched 3/1 or lower (I got away with this price policy yesterday as it saved me actually losing money on Fateh Field -- but I would still have preferred he lost!!).

Max Redd has been making a living from horse racing for over ten years. He runs the Redd Racing betting advisory service and you can try his service FREE at www.ReddRacing.co.uk

11 October 2007 - Fateh Fields | Newb 110

For precisely the same reasons as yesterday, I am opposing Fateh Fields in the maiden at Newbury this afternoon. However, today I will be laying bets at 3/1 or below. I just hope I can get back some of the loss I made by laying Envisage yesterday!

Max Redd has been making a living from horse racing for over ten years. He runs the Redd Racing betting advisory service and you can try his service FREE at www.ReddRacing.co.uk

10 October 2007 - Envisage | Nott 440

I'm going after a Godolphin horse making its debut today at Nottingham. Envisage will be partnered by Mr L Dettori so it will probably be over-bet. If I can get matched at 6/4 or below then I will lay bets. Bet against horses that are over-bet and you will profit in the long run. Win or lose, this is the kind of bet I would lay every day.

Max Redd gives away free horse racing tips by way of a week trial of his Redd Racing betting advisory service. Claim your 7 day trial at www.ReddRacing.co.uk

9 October 2007 - Nothing apparent today

I got City Stable beaten yesterday at evens favourite, but today I cannot see anything obviously vulnerable at a short enough price. So I'm going to keep my powder dry, as they say, and see what tomorrow brings.

Max Redd has been making a living from horse racing for over ten years. He runs the Redd Racing betting advisory service and you can try his service FREE at www.ReddRacing.co.uk

8 October 2007 - City Stable | Wind 230

I'm off to Windsor this afternoon to enjoy the autumn sunshine down by the riverside course. In the maiden race at 2:30 I shall hopefully be opposing the Stoute runner City Stable, if I can get matched low enough. It's the colt's second outing, but he didn't exactly sparkle on his debut. He is entitled to improve for the run, but I think he will be over-bet and give us a good value lay, and if I can lay him at better than 9/4 then I shall take him on.

Max Redd has been providing horse racing tips through his service for more than three years. He runs the Redd Racing betting advisory service and you can try his service FREE at www.ReddRacing.co.uk

4 October 2007 - Lion Sands | Newm 345

Take a look at the Listed race over 14 furlongs this afternoon at Newmarket. Lion Sands lines up to take part with his only winning form to date a class 5 maiden. Today he also steps up a couple of furlongs in distance. So if you can get matched at 13/8 or below then I think he is worth taking on, and you will have a value lay bet on your hands.

Max Redd has been making a living from horse racing for over ten years. He runs the Redd Racing betting advisory service and you can try his service FREE at www.ReddRacing.co.uk

3 October 2007 - Hamish McGonagall | Newc 310

Fabuleux Cherie came in second yesterday, and we collected on the lay bet. Today I am suggesting a bet against Hamish McGonagall in the class 4 maiden at Newcastle. In my opinion this colt has shown nothing special to suggest he is most likely to win this afternoon. So I am not sure he deserves favouritism, and if you can lay bets below 5/4 then I recommend you try to take some other punters money.

Max Redd has been making a living from horse racing for over ten years. He runs the Redd Racing betting advisory service which gives free horse racing tips for a week to all new members. Try his service FREE at www.ReddRacing.co.uk

2 October 2007 - Fabuleux Cherie | Wolv 220

God bless Jimmy Fortune when he is riding your horse. Frustrating when he is riding the horse you have laid though! I was counting my profit with a furlong to go at Windsor yesterday, as Zero Cool looked booked for second place. But Jimmy got him up right on the line to take my money. I will try to get some of this back by going against Fabuleux Cherie at Wolverhampton this afternoon. I think the handicapper has gotten the measure of this young filly, and she has even been put up a pound for losing last time out. If you can get matched below 5/2 then I feel you will have a value lay bet.

Max Redd has been making a living by delivering profitable horse racing tips for several years. He runs the Redd Racing betting advisory service and you can try his service FREE at www.ReddRacing.co.uk

1 October 2007 - Zero Cool | Wind 500

Super-quick message today. Lay Zero Cool at Windsor this afternoon if you can get matched 11/4 or below.

Max Redd has been making a living from horse racing for over ten years. He runs the Redd Racing betting advisory service and you can try his service FREE at www.ReddRacing.co.uk

29 September 2007 - Franchoek | Mras 205

I managed to get Lang Shining beaten yesterday. This afternoon I suggest trying to get the favourite beaten for a novice hurdle at Market Rasen. Franchoek has turned in some decent staying performances on the Flat recently. But today he tackles obstacles in public for the first time, and I'm not sure why he is the favourite? This is a class 2 event, so there will not be any mugs in the line up. Anything below 2/1 will be a value lay bet in my opinion.

Max Redd is a professional gambler and runs the Redd Racing betting advisory service. Try his service FREE at www.ReddRacing.co.uk

28 September 2007 - Lang Shining | Asct 200

Gulf Express won by a neck yesterday, but no worry, at 5/4 it wasn't that expensive. This afternoon I am going after Lang Shining at Ascot. A close-up second last time out in a handicap suggests the colt could be capable of taking a race like this. But bottom line is he has only won a class 4 maiden, and today he runs against stiffer opposition, and over an extra 2 furlongs at a track with a testing uphill finish. I will be looking for 7/4 or lower and then I will be laying bets against him.

Max Redd runs the Redd Racing betting service with links to betting system reviews and you can try his service FREE at www.ReddRacing.co.uk

27 September 2007 - Gulf Express | Pont 350

Traprain did win yesterday, but I couldn't get matched at 1.8 so I let it run. A profitable decision in the end. This afternoon I am going to oppose Gulf Express at Pontefract. The colt is running in a class 2 handicap over 10f and carrying 6lbs more today for his recent win. But that was a class below, and I think the step up in company could find him out. I would have preferred a few more runners to stir things up a bit, but if I can get matched at 13/8 or below then I will feel comfortable in laying him. The trainer/jockey combination of Sir Michael Stoute and Ryan Moore should help artificially squash the price, so it should be a layers selection.

Max Redd has been making a living from horse racing for over ten years. He runs the Redd Racing betting advisory service which provides daily horse racing tips and you can try his service FREE at www.ReddRacing.co.uk

26 September 2007 - Traprain | Prth 340

Traprain contests a claiming hurdle at Perth this afternoon. He has the previous form in the book to win this type of race, but so far this year he has turned in three very average performances. This recent form does not justify the forecast price of shades odds-on. If I can get matched at 4/5 or below then I will lay bets against him to lose.

Max Redd runs the Redd Racing betting advisory service and you can get free horse racing tips for a week at www.ReddRacing.co.uk

25 September 2007 - The Money Box ~ £14,782 profit in 9 months

Max Redd has been making a living from horse racing for over ten years. He runs the Redd Racing betting advisory service and you can try his service FREE at www.ReddRacing.co.uk