Following a tipster is just like riding a giant roller coaster; full of ups and downs, twists and turns and at times you will want to get off but stay to the end and you will be well rewarded.
This guide (hopefully) provides some solid information that will help you get the most out of any tipping service.
Any tipster who promises riches and long winning streaks should be avoided.
Do your research
When looking for a tipster to follow, you need to answer several questions including:
- How long have they been tipping?
- What is their Profit and Loss over a long period?
- Do they publish results in full?
- Can you get close to the prices they tip? (some tipsters quote odds that only last for a matter of minutes or only available with some obscure bookie)
- What is their strike rate? (some people can’t handle long losing runs, can you?)
- What time do they send the tips? (If you work 9-5pm its no use joining a horse racing service that sends it tips at 9 am and you can’t back them till lunchtime; when the value has gone)
Honest and transparent
Any tipster cannot guarantee to make you money in the future BUT based on historical data, it is a good indicator they can if they show a profit over a long period.
One thing a good tipster should be able to guarantee is an honest and transparent service.
That is our number one criterion when it comes to recommending any tipster.
Why isn’t profit first?
It is easy for any rogue tipster to post vastly inflated profits or post graphs that just show an upward trajectory.
A good tipster service should make every tip given available in the public domain and proofed by independent third parties.
Be prepared for the downs
We all like the winning part of following a tipster but it’s the people who keep going through the downs who end up in profit. Depending on the tipsters Strike Rate (S/R) you could go over 15/20 bets before seeing a winner.
What tends to happen is people start getting dishearten after several losing bets and stop following the tips.
Play the long game
Just because a tipster gives you a couple of winners doesn’t mean they are the Oracle, that said, if they give you a few losers it doesn’t make them poor tipsters.
Judge them over a period of 6-12 months.
Have a betting bank
Betting Banks should be totally separate from your personal finances and should be an amount you can afford to lose. When you bet with money you cannot afford to lose, emotion takes over and it usually doesn’t end well.
Stick to the tipsters staking plan
Tipsters use a points system, so going forward, it is good practice that you stick to a staking plan because it negates the temptation to chase losses. It is part of the service that you are paying for and there is logic behind the stake they recommend.
For those who don’t stick to the 1-point staking plan it usually goes like this.
They place £10 on the first tip wins (2/1) and the second tip wins too at the same price. Its easy money, so they place £20 (evens) on the next, hat-trick secured.
Confidence is up and so are the stakes. £60 is placed on the fourth tip (it can’t lose) but it does, must have been a blip, so they place another £60 on tip 5, which gets pipped on the line.
The result: 5 tips, 3 wins (2/1, evens and 2/1) and 2 loses. If you stuck to the 1-point staking plan you would up £10, however, the ill-disciplined bettor is £20 down. Who do they blame, the tipster!
Take responsibility of your bets
When placing a bet, nobody holds a gun to your head, and you need to take responsibility for the bets you place. If you have a strong negative feeling about a certain tip i.e. a tipster is having a bad month and suddenly a 10-pointer is thrown in at odds on. Whilst we encourage people to place every bet recommended by any tipster there is always an exception to that rule.
Go with your gut, when faced with a bet you’re not comfortable placing.
Customer service levels
If you need to contact your tipster, do they offer an email or contact number? Do they offer a no hassle money back guarantee?
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The idea behind the ‘wisdom of crowds’ is that a group’s collective judgments tend to outdo what an individual expert would deem right. TOGETHER WE PROFIT!