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I've been trying to find the answer to this question on-and-off for awhile, and what I keep finding it essentially: 'eyeball' it'. I'm curious if anyone knows of a built in way, or has a specific methodology they use, for evenly distributing text on a circular path. I'm a Paintshop Pro convert, so I'm still trying to get the lay of the land with Photoshop. I appreciate any help you fine folks might be willing to provide.
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You could try choosing Optical in the Character panel. But as you've noticed, when text is on a path, the standard kerning and tracking values don't work as well, so most people usually end up tweaking the text a bit.
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Hi
Start at the centre top or bottom and use the centre text alignment in the options bar
Note the "or bottom" text is on a separate layer with the cursor started at the bottom centre and also has baseline shift after flipping to move it out of the circle