Are You Wasting Money On Tipsters?
Published on 25/09/19
There are thousands of betting sites offering tips for horse racing and other sports. There are even more people willing to gamble their hard-earned money on these tips to try and turn that money into a bigger amount of money quickly.
The big question is which tipsters can you trust and why?
Avoid The Make A Quick Buck Scam Artists
One of my first experiences of a make a quick buck artist was when I went to York Races in the mid-90s to watch the Ebor Handicap. The car park was heaving when we got off the coach and we were quickly approached by men carrying small brown envelopes.
They offered us three tips for £2 and my mate, who didn’t know the first thing about horse racing, parted with his money before I could stop him. Having had another friend all my life whose dad was a bookmaker, I told him that it was a scam and that all the envelopes contained different combinations of horses.
My mate, who’d parted with £2, said we’d see and promptly backed the three selections. When the first one won, he was delighted. When the second won, he could hardly contain his contempt for my suggestion that the horses he’d been given were a scam.
The third horse ended up as non-runner, but my friend showed a profit at the end of the day, which was more than me or the three mates who were with us could manage. But when we got back to the coach, I managed to find another person who had bought a brown envelope full of tips – and, guess what, his tips were completely different.
That just shows that you can get lucky following anyone’s tips blindly, but this kind of luck tends to be a short-term upturn.
Watch Out For Tipsters That Use Survivorship Bias
My make a quick buck anecdote was way before the emergence of the internet as the force it is today. That’s why the internet and not the on-course car park is the new playground of tipsters seeking to make a quick buck.
There’s nothing to stop a tipster company setting up say 50 new tipsters all of whom could choose a different combination of horses in the same races. After the first day of betting, 50% may be in profit, after a week, only 10% may be in profit, and after a month probably just two will be in profit.
But what that Tipster company then possesses is a couple of tipsters that have remarkable records for that month and can market themselves as great tipsters.
Many punters will see these results and be happy to part with their hard-earned cash in the belief that another great month is sure to follow. But as those results were achieved as part of a batch of tipsters designed to create such results – there’s a big chance the following month will be a losing month. That means you’ll not only lose the money you bet but also the money you paid the tipster for his tips.
Are There Any Real Horse Racing Tipsters?
The first thing you need to understand about any tipster is that nobody can win every day, week, or month – but a genuine professional tipster will make long-term profits. If you want to follow a tipster, you need to make sure to set up the right betting bank and follow the recommended tips and staking plan correctly.
You won’t win all the time but following a proven tipster should help you generate long-term profits from gambling.
How Can You Tell If A Tipster Company Is Genuine?
There are several points that you should consider when choosing a tipster, including:
• Is it a registered company?
• Has it been positively reviewed on independent review sites such as Trustpilot?
• Are the tipsters all real people?
• Are tipsters extensively vetted before being allowed to offer tips to the public?
• Are past results fully disclosed including good and bad periods?
• Does the tipster have online reviews?
• Does the company offer a money-back guarantee if you’re not satisfied?
It’s important that a company is registered as this allows you to check how long it’s been in operation. Sure, all businesses need to start at some point, but it’s normally a good sign that they’re genuine when they’ve been operating for at least a few years, are a registered company, and not just a bloke with a laptop in his bedroom.
Does anyone buy anything nowadays without checking what other people think by reading the independent reviews of websites like Trust Pilot? If you’re not sure, have a read of these reviews, as this may also help you pick the tipster that will best suit your style of betting.
Transparency is currently a buzz word in the gambling industry and reputable tipster companies are normally eager to post the pictures and names of their tipsters. Good tipster sites also actively promote interactions between tipsters and punters to build trust.
It’s a great idea to use a tipster site that thoroughly vets its tipsters before allowing them to charge money for their services. A few months of vetting is normally enough to get started, and confidence in that tipster continues to build with every month and year it offers a profitable service.
All past tips should also be easily accessible, so you can gauge the types of winning and losing runs you can expect to come across. Remember, there will be a variety of ups and downs along the way, so make sure you start with the correct betting bank.
You should also choose a tipster whose tips aren’t linked to a bookmaker. That’s not to say these tips will be rubbish, but a tipster will get paid either way if a bookie is giving him a cut of whatever you bet with that bookie. Choose a tipster that offers no affiliate links, as this way you know the only way that he’s getting paid is if he produces profitable long-term tips that punters like you are willing to subscribe to.
That all sounds great, but what if you just decide the tipster you’ve subscribed to isn’t the tipster for you? That’s when it becomes important that you choose a company that offers a money-back guarantee. This will only last for a limited period, but this guarantee proves the tipster site is serious about building tipster/punter relationships that all parties are happy with.
In conclusion, choose tipster services that are part of a registered company, have been positively reviewed on independent review sites, and are real people who you can see and interact with. These tipsters should also be extensively vetted, provide full disclosure of past results, and aren’t affiliated to any bookmakers. They should also offer a money-back guarantee, this shows confidence in their service.