Published On: Sat, Oct 6th, 2012

So What Kind of Gambler are you?

With Spring now upon What Type of Gambler are youus, this brings for many Australians the only time of year where they have a flutter with the Melbourne Cup around the corner.

Why it is that we get involved?  For many it starts with friends and work colleagues running office sweeps with the gotta be in it to win it mentality. If you actually love going to the races, it may be a more complementary aspect to the fashion and fun of dressing up for a day to let your hair down.

I have noticed that people take very differing outlooks to Melbourne Cup day. Some study the form guides intently with a view to getting rich quick. Others couldn’t be bothered with such details, and ask the more serious punters who to pick, or simply decide on the auto pick. And then there are those that wonder what all the fuss is about, but get pulled into the spectacle and bet or no bet, simply watch the race because everyone else is.

There are many different types of gamblers, each with their own stupidities:

The Free Spirit
Money grows on trees and I will put a days wages on picking trifecta’s as I’m gonna win big one day…just watch me. Most of us know one of these type.

Bandwagon Punter
Has a punt on patriotic Aussie days such as Anzac Day or the Melbourne Cup, but gambling is not a regular event.
The once a year punter partakes because everyone else is doing it, but tight fisted in every other respect when it comes to the punt.

The Professional
This type of punter wears shades and trenchcoats and refuses to give anyone their hot tips that they have meticulously researched 2 weeks leading up to the big day.

The Entertainment Seeker
Punting is for entertainment and an adrenaline rush to get more into the event. Will bet on exotic markets like what lane a horse will draw, to what colour the jockey will be wearing on the big day.

The Old Timer
The old man with cigarette in one hand and beer in the other at the pub who will tell all and sundry of which horse is the pick of the day. The best person to be lining up in queue behind for a last minute tip!

For those new to having a bet there is some advice. TAB pays some of the lowest amounts compared to other bookmakers. It would be wise to shop around at places such as Centrebet.com.au, Sportsbet.com.au or a multitude of other (too many to name) online bookmakers rather than your local TAB. Though for convenience and if you only occasionally punt, then it’s probably the best option rather than having to create an account.

Some bookmakers offer more promotions than others. It’s worthwhile if you are joining for the first time to take advantage of any offers which will give one online bookmaker and edge over another. Some bookies are more focused on sports rather than horse racing such as the aforementioned, but sites such as Bookmaker.com.au and Tomwaterhouse.com are focused on their horse racing roots.

Bookies will focus on different things, and this makes a difference when it comes down to the bottom line price. The decision is whether you go for an all rounder who is jack of all trades and master of none, so after the Melbourne Cup is over and the Australian Open Tennis Finals are on, you can have a punt on the next Lleyton Hewitt toasting success, rather than having a betting account with limited use post event.

For example a Bookie who isn’t so much into tennis, takes more margin or “juice” in it’s prices to offset the risk, as they don’t actively monitor that sport as much as perhaps rugby league. The end game is pick a Bookie that appears to specialise in the sports/events that you love as generally you will get a better experience and likely better odds too.

A good way of telling, is if one Bookie offers more markets than another, some may have 300% more options or “props” than another one who just puts out the bare minimums. Ones that have a lot of markets tend to have a lot of employees internally working out more options for the punter.

Be careful with the sting in the tail and conditions of some bookmaker offers. Some will only let you withdraw the bonus after you turnover 3-5 times the amount you put in.  Some additionally put a timeframe in which you need to achieve this by before they forfeit your winnings, and many times there is a minimum odds level you have to bet at for example $1.5 return for every $1 bet.

Most give a bonus bet which takes back the original “bonus” amount but leaves you your winnings. For example a bet of $10 on something 2 to 1 ($2.0) will return you $20 and with a deduction of the free $10 Bonus, you are left with $10 of winnings. So in essence for the previous bet you are simply winning the bonus amount you were supposedly given if you take odds of 2 to 1. That’s why many people put a bonus bet on something at least  3 to 1 or above as it’s a free swing which technically hasn’t cost you anything.

Remember to have fun and gamble responsibly, you should be comfortable with your bet amount win or lose. IF not, you are probably going too much over your head. Should you suspect that you have a problem keeping control, please seek help from sites such as the government run http://www.gamblinghelp.nsw.gov.au/.   Remember the house is geared to put the odds in their favour and over 95% of people lose money. Have fun and try to avoid chasing your losses, as this almost certainly always leads to disaster.

Happy punting and enjoy the upcoming Spring Carnival. Best of Luck!

Kingfisher 2012
Copyright 2012
www.mummyweekly.com.au

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