How To Use A Tipster Portfolio
Published on 11/12/15
Shrewd bettors usually subscribe to tipping services to increase their win rate and returns. You employ a tipster either because he has access to privileged information or to enable him to do the in-depth research that you don’t have the time to.
It goes without saying that you should only buy tips from a tipster whose past results are independently verified, and who has consistently shown a profit over a long period of time. There are good arguments for subscribing to more than one tipster.
Tipsters tend to specialise in specific sport or types of horserace. This is because they have built up contacts within those circles and wish to concentrate their research efforts. Adding their tips to your other bets will increase your overall success, but “informed bets” will represent only a proportion of your total betting activities, unless you wish to restrict your betting interests to those of the tipster.
Tipsters are under pressure to support their win ratios. This means that they will not want to give tips just for the sake of giving them. This can cause dissatisfaction to the punter who wants to have a few bets every day.
Tipsters, like all of us, are subject to the vagaries of Lady Luck. This can manifest itself in a losing run. This can disillusion the bettor, even though they should understand that it is long-term profit gain that is important.
Successful betting is all about risk. Any punter that subscribes to a validated tipping service is already making positive efforts to reduce his betting risk, and is effectively paying to reduce that risk. There are arguments that it may be worth paying more to reduce risk further by subscribing to more than one such service. This is very much akin to financial market investment strategies, where an investor will aim to build a portfolio of shares. He incurs greater trading costs acquiring such a mix of shares than he would if he otherwise invested only in one, but accepts these additional costs with the knowledge that if one investment in his portfolio goes wrong this will not wipe out his total savings. By subscribing to two or more tipping services the punter is reducing his risk, because is unlikely that the chosen tipsters will hit losing runs concurrently, and “average” historical tipping performance is more likely to be achieved over a shorter period of time.
Further risk reduction can be achieved by obtaining a “diverse” portfolio. The stock market investor trying to reduce risk by having more than one share in his portfolio would not want both those shares to be in the same industry (eg oil) but in as many different industries as possible (eg aviation; retailing; food and drink.) The bettor adopting a similar risk reduction strategy with different tipsters could copy this by having a portfolio of different tipsters from different sports or areas of knowledge. Mix horse racing with tennis or golf. Mix football with greyhound racing. Mix a tipster that concentrates on favourites with one who concentrates on outsiders.
Any punters subscribing to a tipping service has already sensibly acknowledged that he is prepared to pay to reduce risk. He needs to use validated tipsters to ensure that over a period of time not only will doing this overcome the bookmakers round but also pay the tipsters fees and leave him with a reasonable profit. He should also consider subscribing to more than one validated tipping service. Obviously this will cost more, but will further reduce betting risk and allow for more frequent informed sports betting on more different events.
If you fancy testing out some of the tipsters here at Betting Gods they all offer a 30-day free trial.
Check them out at http://www.bettinggods.com/tipsters