Professional or Paid Tipster Services - Are they worth it?

Published: May 4, 12:53pm Last Updated: Nov 17, 1:19pm man o bong on Strategy 15 Comments 44039 Views

Is it worth paying for Horse Racing Tips?

Well, this is an emotive subject and there are several ways of approaching this. 

I will begin by justifying my views on the subject by mentioning the fact that I myself, did run a tipster service a few years ago 

I charged for horseracing tips on a monthly basis. 

I had some very happy members, as I found plenty of winners and provided a profit over the 2 year period it ran.

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I also had some very unhappy members, the reasons for which I will cover in the article. 

If you are new to betting please check out all the OLBG betting school articles, here you can learn about all aspects of the betting world for free!!

Why pay for horse racing tips?

The answer is, there are broadly two types of people that will do so. 

People looking for get rich quick schemes, If you are one of these don't bother, No seriously DON'T!


easy money

Despite flashy ads, in-depth explanations of how the money will just roll in, it very very rarely does. 

Gambling should be viewed as a long term investment. 

And in fact, gambling is precisely the thing that should be avoided. 

Gambling is exciting and is a rush, betting for profit is not. 

Betting for profit is a long drawn out boring process. Although the profit is nice if you know how to look after it.

People who understand a measured approach to betting on horse racing.

Probably covered by the latter of the last paragraph. 

They will be mathematically astute and understand the probability of their plan, will be disciplined in the extreme and able to make definite decisions along the way. 

People who adept at making definite decisions in life, whether emotional or financial are those that are successful in whatever they do, and that encompasses betting!

What sort of paying tipster services are there?

  • Cheap services
  • Expensive services
  • Celebrity Tipster Services

So in this minefield, where do we turn?

Tipster Subscription Lengths

First and foremost, even though I ran a service and made a good amount of money from doing so.

I would not advocate signing up to a paid tipster service, unless you are fully aware of what you are getting into.


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You must be prepared to invest a large amount of money into it. 


Not so much in the subscription but in the amount you will be betting. 


Also, I would suggest that you would not be looking to make your "fortune" in a single month or two, but over a much longer period of time.


Yes, profits can be made in a single month but if this your approach, you may be very lucky to do so. If separating the two years individually that I provided tips, I can honestly say that in seven of the 12 months I made individual losses, but over the course of each 12 months, a profit was made.


So you see, members that "dropped in" to the service for a month at a time, could conceivably have done so seven-times in a single year and shown a loss each and every time. 


This accounts for many of the unhappy members I had. Those that stayed for a full year, or many consecutive months at a time, accounted for those that left happy when I closed down.


Of course, if a service is chosen that does not provide a profit over the course of 12 months, you have bought in for a long period and have lost in the long term, not only the loss making bets that you have placed but also the subscription cost of the service too. 

Quite often, the subscription costs are not factored into punters P&L when assessing the success of a service. Just as often the customer may not consider the factor even before they start betting.

Consider the Subscription Fee

I had one member who contacted me after a month when I had made around 35 points profit to single point stakes (This was always my suggested staking plan).

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He wrote to inform me that he was cancelling his subscription as he simply couldn't make a profit. I asked how this could be possible given the immediately preceding months figures.

"I only bet £1 per horse," He told me!

My customer had not done his maths or at least had not done it before he started betting. 

Yes, after the fact, he had worked out that after the £49 subscription for the month he had in fact made a loss as he had spent £49 getting £35 profit.

Had he considered this before beginning betting the tips, he could have ascertained that £1 stakes would have made it very difficult for him to make an overall profit. 

That is of course unless he was expecting to make hundreds of pounds every month from small stakes. I tend to think this was the case.


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So when considering a charging tipster service, take into consideration the subscription charge. Take a look at previous proofed results, and work out what the average monthly profit figure might be. 

If it were 35 points a month, and the charge for the service is £50 for the month, you know immediately that you will have to bet in excess of £1 per month to make an overall profit. 

The tipster service, if indeed professional and offering a comprehensive service to its clients should inform you of this in advance and provide a suggested minimum stake per point figure.

It should also give you a suggested bank size that will account for inevitable losing runs too! 

These two aspects, I would suggest are the minimum you would want to find on a Paid Tipster Service front page or brochure. It means they are considering their potential clients and adding some value to their proposition.

How much does a "Good" Professional Tipster Charge for Tips?

This is really subjective! I would say it could be anything. 

Let's start and state that Tips for free on OLBG cost absolutely that. Nothing, Nada, Gratis, they are free! 

There are plenty of fine tipsters on this site who offer their views for free and return good profits on a consistent basis. So there is the first base.

To go to the other end of the scale, I have seen Tipping services that cost in excess of £1000 per month. - "for the more discerning client," they may claim. 

prize

For the bloody idiot with far too much money at their disposal, I would counter-claim!

I am not denigrating high charging tipping services, but paying a high price does always ensure that you will "get what you pay for".

It is human nature often to keep this cliché in mind, but unscrupulous tipping services, and I might dangerously suggest, scam services, will price themselves high to instill false confidence that sending huge amounts of money must mean they are worthy.

Finally, there are the Celebrity Tipsters. The horse racing names, that appear in trade newspapers and on television. 

Again there are no guarantees that just because these people work on a daily basis within the industry that they will be any better than someone else.

Indeed, some professional tipsters work, within the industry simply on the basis that they are tipsters, this shouldn't be forgotten. 

But the lure of a racing celebrity is a strong one. 

Although remember, that they are not ONLY racing Tipsters and certainly not Professional Gamblers. 

horse racing

Their primary income will be within the world of Journalism, media, or presenting. 

Most tipping services off the back of this will be in conjunction with a media outlet who will pay for the endorsement, and perhaps the tips. 

In some cases, the names that are aligned with these services have no input into the tips themselves; their only input is creating the invoice for the endorsement and cashing the subsequent cheque thank you very much!

In summary, there is no answer to "How Much Should I Pay for Horse Racing Tips?" I would pretty much guarantee, however, that if they are for sale at 99p on eBay, you will not be looking at a long term service, nor a profitable one.

Finally - Professional Gamblers are not going to sell tips on a service, they don't need to.  

Professional Gamblers are not Tipsters.

A Professional Tipster Confession

Why did you, Man O Bong, charge for tips, if you were making a profit?

Firstly, I didn't know if I was going to make a profit. That's the problem, I was confident that I could and certainly aimed at doing so, but there were no guarantees.

When you charge for tips you live and die by the sword! I also knew that I was not going to make sufficient profit to be able to be a professional gambler. For one I didn't have the resources to do so; two, I don't bet with huge stakes and three, I like security in my life.

What charging for tips did for me however was a mathematical matter. ( I like maths! Can you tell?) - 

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Each month, I would receive subscription payments from members for the tips I sent out. 

What did I do with the money? That's easy!, It went into my betting bank each month.

In effect, my liabilities were reduced by the fact that my members were propping up my betting bank account, so that in months when I and the members were winning, my return on investment was much higher, as my personal investment was minimal.

If anything at all; and on losing months, effectively my members were paying for my losses.

Now there is a slice of honesty for you - and perhaps one of the reasons I couldn't continue with selling tips.

I was perhaps too honest, and certainly too human.

 Losing streaks hurt me. 

The pressure was immense, as I knew I had members not only paying me good hard-earned cash for my tips but also were losing additional money on my advice.

I've done one finally but here is another, NEVER PAY FOR SYSTEMS!

Systems rarely last a long time and the more money being thrown at this type of bet over a long period of time will see the value in those selections go down at a rapid rate. 

Systems, in 99% of cases will work only for a short period of time and will need tweaking and changing throughout their life. 

If someone is trying to sell a system, they don't understand the system is my view.

Professional Tipster Free Trials

Try as many as you can.

A bit like getting as many free match bets as you can from Online Bookmakers.

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It will cost nothing but a profit of loss on the tips provided and there is no commitment going forward. 

You can use each service for a month at a time, (A month is a minimum that should be offered on a free trial), then decide which service is for you. 

Don't forget it is not all about the tips. It is what else you get. yes, winning tips are important, but how does the tipster send the tips to you. 

What level of explanation to the selection process do you receive how do they react to winning and losing runs? 

Consider everything that is included in the free trial package, it will get you a feel of what more is to come.

Remember though, there is no guarantee of profit on a trial, you may still lose the money you invest in the bets. 

Or you could just paper trade them to align them with the remainder of the service and again get a feel for what is provided.

I actually got around the free trial thing with my service as I offered it as a retrospective. in as much as the potential member would pay for the trial and would then have it deducted from a 3 month or longer subscription should they wish to continue. (Marketing genius huh?). 

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Personally I would not recommend this, neither would I recommend signing up for any longer than a month at a time. 

There may be "discounts" available for longer periods or even annual subscriptions but those prices will be what the tipster is budgeting for; monthly fees are a bonus for them but it also gives you the option of getting out fo a bad one. 

Consider the higher monthly price and use that in your staking, bank, and betting projections for profit and loss.

Professional and Paid for Tipster Summary

  • Suggested Stakes per point guide
  • Suggested bank size to account for losing runs
  • Never Buy Systems
  • Professional Gamblers will not sell their tips
  • Take any Free Trials on Offer
  • Don't fall for long term subscription discounts


Or perhaps, stay away altogether and check out the very good tipsters here on OLBG.

They come with a guarantee - THEY'LL ALWAYS BE FREE ON OLBG!

 

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