One thing that older punters have in common is that they have been, at some point in their lives, younger.
I don't think it is peculiar to punters but when younger blokes in general are much more inclined to braggadocio.
Older individuals can, but this is by no means guaranteeed, show a greater degree of self-awareness than in their earlier years.
Those, in younger years, are much more confident in the truths that they perceive.