Almost everyone has heard the saying – “Don’t put all your eggs in the one basket.”
Meaning that it’s wise to spread your risk.
You can apply this piece of common wisdom to betting by developing a portfolio of systems, selection strategies and tipsters.
This is the approach that a large number of serious bettors, including myself, use regularly.
The logic behind the portfolio being, if one of your selection methods is performing poorly, there will be a number of other selection methods in your portfolio that are performing well – Canceling out the losses from the poor performer.
That’s the basic theory behind a portfolio. And so long as your selection methods are well researched, and different enough from each other, the theory should hold true when put into practice.
By different enough, I mean that the selection methods shouldn’t all focus on the one type of horse racing.
And by well researched, I mean that the selection method should have proven itself to make a profit over a large number of bets.
If your picking your own selections, that would mean paper trading your selections till they are showing a profit over a large sample of bets.
If your using horse racing systems, that would mean back-testing the system using system builder software such as Proform, and then paper trading the systems selections for a few months to make sure the system actually works.
And if you’re getting your selections from tipsters it means researching the tipsters previous results and finding one that has been profitable over the long term.
I use a mixture of my own selection methods, systems, and a number of tipsters in my own betting portfolio and have had good results doing so.
The tipster portion of the portfolio alone has made some brilliant profits, as you can see here:
If you want to make a profit from your betting, creating a portfolio is the way to go.
Until next time,