Most of what we are about to say is obvious so apologies for going over well-trodden ground, but we would like to identify and reinforce our prerequisites for betting success!

We often read our own messages for reinforcement purposes, and we did this most recently when having three losing wagers in a row. We briefly questioned our rationale behind those wagers, but our conclusions quickly confirmed we did very little wrong, if anything. Within 24 hours we were back on an even keel. Just to say when we nominate to members for a -3pts loss in a 24-hour period it hurts, we know it should not do so but it does, at our age that will not change now.

We particularly remind ourselves about the importance of mathematics, not only in horse racing betting but in life itself, so we take this opportunity to repeat an obvious but critical message. There are many more, but we offer 12 points below which constitutes the building blocks the professionals use when attempting to profit from sports betting.

• First rule in betting is to have a set-aside bank which does not contain scared money. This bank must only be used for wagering, it must not be used for anything else. If the reader cannot commit to this, they should not wager seriously at all. We readily accept we have members who just want to be more informed/advised/helped and not receive lectures, but for the purpose of this piece we are talking about professional sports betting!
• Betting to win should always take place without emotion and treated as a business all of the time with no lapses. Furthermore, there is no room within this mindset to bet recreationally, randomly or for fun - if it does not harm your chances, it will undermine them.
• Finding perceived value in a bet then wagering at the best price available is not always easy but the biggest task. Finding winners is not enough, without finding and securing perceived value one cannot win from betting over the medium to long-term. Most punters concentrate on finding winners, professionals identify horses whose price is bigger than it should be.
• Remember, the odds displayed never reflect the true probability or chance of an event happening or not happening. Before betting, the bettor must accept the bookmaker always has a house edge, better known as the overround. We always use the term perceived value because no mortal can know for sure what true value is, it is totally subjective! Every bettor must accept the premise of these two facts before betting, or as we prefer to say investing.
• A strategy/system with a staking plan is needed that suits the individual bettor. There are not two bettors on earth who have exactly the same preferences or risk versus reward mentality. 
• Each and every bet must be recorded/logged, there must not be any lapses or airbrushing and logging losing bets are as important as any winning bets. Nothing must be left to memory - it will tell lies. On a personal note I have a comments box and find this informative/helpful when reading at a later date.
• Making a profit from betting on horses is difficult but not for the reasons most people think. Having the correct mentality is absolutely essential. A mentality equipped with good information, attitude, determination, repeatable mathematical process and probability are still not enough if you do not have the discipline, emotional skills and money management needed to underpin them. Betting can be a solitary and friendless place; adverse results can seriously affect the health and well-being of the individual and sometimes their family! 
• There is absolutely no room for brand loyalty in the betting business and if the bettor does not have multiple sportsbooks plus a Betfair account they are not serious about winning!
• Luck has no part in betting, there is only science and mathematics. The use of the word is futile in a betting context. Do not use it!
• Bet sober and whilst this is an obvious statement, we have fallen foul of this rule ourselves on more than one occasion. Under the influence I opposed Peeping Fawn with Mandesha in the Nassau Stakes 2007 at Goodwood and it cost me plenty. It took me months to banish/forgive my stupidity and one or two subsequent bets were compromised. Emotion can get the best of all of us, and bad decisions can be made from those emotions.
• Bookmakers do not want serious bettors and now close or curtail accounts quicker than ever. Bookmakers are seriously impacting on our accounts whilst some have closed, so we are preparing for 100% betting exchanges. At the moment we bet 40% with the bookmakers and 60% with Betfair but we have to use camouflage with the bookmakers.
• Multiples betting and professional betting are not compatible.

Few succeed yet gambling has never been rocket-science and it is not even complicated, whilst it’s very difficult to make a living from betting, it’s not impossible. Apart from finding perceived value it is about 100% discipline, attitude, determination and sensible mathematical practices assisted wherever possible by good relative information and knowledge. How one approaches gambling and what their expectation levels are, need to be realistic. Very few are able to administer these principles and the reason why most fail. The industry figures show over 98% of bettors lose, we are part of the 2%.

The main areas of failure are easy to identify. The vast majority of punters are lazy then fail to use any form of a capped and set aside bank, they bet randomly, and they fall foul to the emotional issues. These emotional issues have affected and threatened every single bettor that has ever wagered (including the author). These factors have to be removed or resisted so use our knowledge and experience condensed into a strategy called the Pacafi. The word Pacafi is an acronym for 'professional, calculated, filtered investment.' The strategy represents the complete antipathy to random wagering!

There are dozens of websites making outrageous/silly claims and offering betting tips for a fee claiming they have proven records. If these tipsters did as well as they claimed why share the tips? In any case, by the time one receives the information the price will be gone and the punter will back the horse at lower odds and not perceived value! This is why we ask our members to absorb our figures and rationale in context then make up their own mind.

The reasoning behind the PACAFI is to find horses competing with a winning chance but have as many negative traits as humanly possible removed. Random factors are beyond anyone's control but to invite negatives to a bet compound matters. Our composite ratings identify 10 separate and meaningful categories that must be satisfied before we even consider a bet. Once again, these areas are mathematically driven, everything is mathematically driven!

***

The Racing Horse will be taking on new members from 12 February 2023. Former members especially welcomed back! Please email for further details...