How Smart Is The Average Punter?

champion7
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Re: How Smart Is The Average Punter?

Postby champion7 » Sat Jan 21, 2017 9:34 pm

With regards to the opening post - I think some of those youtube comments are just novice mistakes rather than stupidity, the punters are showing signs of greenness but may come on for the run. Its good they have an enthusiasm for the sport itself and the big stars of the sport, its better than compulsively betting on a number or colour at least!

slimey
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Re: How Smart Is The Average Punter?

Postby slimey » Sun Jan 22, 2017 12:21 am

Being smart doesnt necessarily mean you will be a profitable punter.
I have friends who are addicts..they will win £2000 and lose it. Going to pay cheque to pay cheque week to week.
A friend won 300 on a machine, he insisted buying drinks. Tho he would of spent 500 over 2 weeks getting that spin.
Online betting accounts are great for addicts boredom.. ive done it..ive lost, but I learnt. It doesnt feel like real money. It goes from your bank account to an account that is like play money and you could win you millions!
I gamble for fun, my average bet is 20p lucky 15.. treble the odds one winner. I had great succes when first joining, Shrews would pick 4 outsiders and I would punt.
The average punter doesnt mind losing.. as long as if they can hit a big win once in awhile..

Systemight
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Re: How Smart Is The Average Punter?

Postby Systemight » Sun Jan 22, 2017 4:26 pm

i would say that your "average punter" is a lot smarter than has generally been credited on here.If they wasn't we would all be winners wouldn't we?
..because there is always another day...

The Duke Of Tooting
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Re: How Smart Is The Average Punter?

Postby The Duke Of Tooting » Sun Jan 22, 2017 7:04 pm

I used to think most people were reasonably intelligent but Brexit/ Trump has clearly shown us otherwise.

This can be applied to punters since I guess they're people too. Shop prices generally woeful and those chasing value online easier to spot and then get restricted. Anyone betting with the same bookie whatever the price is not smart whether that's online or the high street.

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Re: How Smart Is The Average Punter?

Postby geordieracer » Sun Jan 22, 2017 8:07 pm

Personal position.

1 Who or what is the "average punter"? my Dad has a bet on the horses every Saturday, and during big televised meetings. He bets amounts he can easily afford to lose and does it to add more interest to his watching. He doesn't study form, doesn't read the RP or anything like that He enjoys it. Is that average? In my view, above average, because

2 "smart" people don't bet money they can't afford to lose.

3 The "average" punter is probably a lottery player; the "average" punter is probably as likely to chuck 10quid into the roulette machine for a couple of spins and will be happy to get 50 out but not bother if he or she loses as to put 5 quid on a horse

4 the average punter is almost certainly not obsessed with horse racing or the dogs or anything else. they are having fun

5 - and here's the hard bit. the average punter is smart enough not to take it all so seriously, not to get all het up about a ride, a bad performance by a fancied horse or a home defeat for Liverpool at the hands of Swansea. He or she knows that there are ore important things in their lives, that sport remains, for most people a passing entertainment and a basis for a bit of a discussion or argument with friends and/or workmates. The ones who are not so smart are the ones who cannot understand why they aren't winning all the time when the really essential bits of knowledge are known only to a very select few - particularly in horse racing.

The average punter is very smart as long as he remembers that the people who genuinely make a living out of these sporting events are the layers and the participants, the commentators and the journalists. the number of people genuinely making living out of gambling are few, and as a proportion of them the ones making a living on sports betting are fewer still. The card players, the backgammon players are greater in number.

now... on that basis... who is smart????


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nors
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Re: How Smart Is The Average Punter?

Postby nors » Mon Jan 23, 2017 12:17 pm

The information now available as others have mentioned should mean that the average punter in 2017 is smarter than the average punter in 1997.

It can be a case of application or desire to take the time to learn and in many cases many punters regard betting as "just a bit of fun" (cheeky bets as Ladbrokes perfectly marketed).

The field is levelling between punter and bookmaker as much of the info the bookie has the punter now has as well.
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Alberttatlock
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Re: How Smart Is The Average Punter?

Postby Alberttatlock » Mon Jan 23, 2017 12:42 pm

I used to think most people were reasonably intelligent but Brexit/ Trump has clearly shown us otherwise.

That line above suggests to me that most reasonable people ARE intelligent :yes: :lol:
11 out of 12 winning months LSP on Horse Racing :win:

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Re: How Smart Is The Average Punter?

Postby Leicester Bigot » Tue Jan 24, 2017 2:13 am

In terms of "Punter" I was really asking about Horse Racing Bettors.

I recall a Racing Magazine back in the early 90's or thereabouts called Odds-On, where they compared the chances of success for bettors across several mediums and if I recall correctly National Lottery scratchcards were the worst and Black Jack the best, so long as you could count the cards played and what was left in the dealing "Shoe". Of course the more packs the shoe held, the tougher it was to recall the balance of cards.

Thanks for all the great replies and it raises the question of whether Horse Racing betting is losing popularity due to it being deemed by some punters that other punters are smarter than them, and then in turn the "smarter" punters feel that trainers, owners and bookmakers (by proxy perhaps) are the ones truly in the know, even after the slide rule has been wielded to thrash the value from the formbook?

The cartoon horse at Steepledowns and number 32 on the roulette wheel are gloriously oblivious and ambivalent to whoever may have entrusted their cash in the belief that it is their day to shine.

There is no going to take into account on a roulette wheel and no chamber is badly drawn, the croupier may be young but it's unlikely he will drop the wheel, even more so when it's virtual roulette.

I recall a punter nearly reduced to banging his head on the wall, as he sat all afternoon studying hard but unable to pick a horse, before seeing a guy put a tenner on number 5 on the roulette, because it was his house number. Bang, up comes number 5 :sarcasm:

I read in a fictional book this evening, set in Glasgow, where on of the characters described why he would not take an interest in Horse Racing. His reason was:-

"Ach, it's a sport for tiny Irishmen, paid for by the gullible and controlled by the idle rich"

Readers can decide how much, if any, of that hits the nail on the head.
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Re: How Smart Is The Average Punter?

Postby monkeytennis » Tue Jan 24, 2017 2:24 pm

I think the first thing to ask is "How smart is the average person?"

Now by definition the average person will be averagely smart but I think there is a big gap between the averagely smart people and smart people. The average man on the street is actually pretty thick!

Now let's look at the average punter. Generally speaking gambling appeals to the lower echelons of intelligence because it takes a smarter person to know that pretty much everything is geared towards the bookies' favour, not the punters. This is why only such a small minority actually make a profit from betting.

Betting shop punters are generally bottom off the pile. I worked in a betting shop around 15 years ago and horse racing, greyhound racing, cartoon racing, 49s, etc are all the same to the people in the betting shop. It's just another thing to bet on. You'll get as many bets on Portman Park as you do the Gold Cup.

The common consensus is probably that online punters are a bit more clued up, and that's probably the case for the older briagade. However the younger generation are all computer literate and know it's much easier to place bets online or using an app. However most of those are weekly footy acca punters who have no comprehension of value or strategy.

The average, or most common punter, won't be smart at all. If they were they'd realise they are losing more money from betting than is actually just 'fun'.

What I'd be most interested in is a look at how smart winning punters are. Are they all pretty smart? I'd bet the majority are but I wonder if some people who aren't smart in general can be very good punters.

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Re: How Smart Is The Average Punter?

Postby nors » Wed Jan 25, 2017 2:32 pm

I would say that knowledge is power, the better read you are on a subject the more likely you are to benefit from that knowledge. We know we have 000 of members who have studied betting over the years and profit from this learnt knowledge. If we talk to our friends who bet i suspect that many of us would describe them as not as smart (on punting) as we are. If the average member has 5 friends who bet regularly (and are not on OLBG) then multiply those 5 by how many members we have then there will be huge amount not smarter than we are.
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Re: How Smart Is The Average Punter?

Postby Leicester Bigot » Wed Jan 25, 2017 4:00 pm

I am hoping that the "Smart" punters are the ones sitting with 2/1, 15/8 and 13/8 on Faugheen for the Champion Hurdle. I am rather hoping to see him sitting 1/3 for the race on Monday morning :eyebrows:
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Re: How Smart Is The Average Punter?

Postby horage » Wed Jan 25, 2017 4:04 pm

I got a new suit for xmas so pretty smart ....

but taking short prices ante post on the festival is a mugs game because 1/2 hour before the race it can drift to a bigger price and there no dead certs at the festival ;it might not even turn up .... :hope:

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