Successful
Betting
Ten
golden rules of successful betting
1) Never bet more than you can afford to lose
That should be blindingly obvious - but sadly too many amateur
punters just take a risk, hoping that this one will be the big
win they need. The only way to stand a chance of winning over
the long term is to have a consistent plan and to use a dedicated
betting bank that contains no more money than you would be prepared
to lose entirely in the worst of circumstances.
Once you start staking amounts you can't afford to lose your judgement
will inevitably be affected. Also, there's no thrill in putting
your financial future, or even your family's financial future
on the line.
Decide on the maximum wager you feel comfortable with. It doesn't
mean you have to be happy to lose it. Just that you can afford
to lose it if the worst should happen. Otherwise your betting
will go nowhere.
2) Remember there are no certainties
If you study probability you will learn that absolutely NOTHING
is impossible. No matter how big a cert something looks, never
bet your last penny on it. Scientists only talk in probabilities.
It is regarded as highly unlikely that the moon will crash into
the earth tomorrow - but it is not impossible. The odds of winning
the UK national lottery are 14,000,000 to one - but almost every
week someone wins it. However much you may feel you are on to
"a good thing", only ever commit a small proportion
of your available funds to it. When things go wrong - as sometimes
they WILL then you will live to fight another day.
3) Be flexible in your approach
There is more than one way to win in betting. An approach that
works for one punter may not work for another. Experiment to find
the approaches that work for your betting and then spend enough
time with them to let them work over time. At the same time, however,
do not close your mind to other possibilities. There are many
approaches you can study to back, lay, trade, arbitrage, bet in
running.
4) Keep a record of your bets
Keeping records is ESSENTIAL. You can start to build up a picture
of the bets that work for you and those that don't. Without keeping
records you are shooting in the dark. Of course it's tough to
have to write down those painful losing bets when you'd prefer
to forget them, but if you want to make a long-term success of
betting you need a record of your failures as well as your successes.
If you can use a spreadsheet such as Microsoft Excel or similar
then that can help you to easily analyse profitable statistics.
If not then at the very least a dedicated paper notebook should
be there to do the job.
5) Don't bet on emotion
Betting on situations when you have an emotional involvement is
to be avoided at all costs. It should be obvious, but never bet
on your favourite football team just because you are desperate
to see them win. Your bets should be guided by the value that
you can get from a win. Not just what you think is the likelihood
of a win. The most successful punters have no emotional involvement
in the outcome of a sport. If you want to watch a race or a match
for the enjoyment of the game then do that without betting on
it. It also means you won't have the possibility of a double disappointment
if your favourite team loses and you also lose a bet.
6. Bet only in situations where you think you have an edge
If everyone else knows what you know then you can be sure the
prices for your "sure bet" will be at their lowest.
You may make a modest profit this time but betting this way over
the longer period will never bring you a consistent profit. Look
for football matches or other bets where you think the odds on
offer are more than they should be for the true likelihood of
winning - call these value bets and you'll have profits to be
proud of over the longer term.
7. Don't let strange results throw you
As stated above there is no such thing as a certainty. So you
need to make sure you are not thrown by turnarounds you were not
expecting. If you are betting on what you think is a certainty
that gives you great expectations and it meets an unexpected defeat,
don't let that one event put you off betting in the future. Week
in week out, favourites that have been beaten last time out come
home on their next outing. It infuriates punters, but they only
have themselves to blame. Take time to analyse an unexpected defeat
and you may well see that a good opportunity is still just around
the corner whilst the less wise majority have given up on betting.
8. Don't be fooled by tempting bookmaker bets
You will see with any bookmaker, special bets that are laid out
in a certain way to attract punters to bet on. If you ever pass
a high street bookmaker time and time again you will see advertised
in the window various bets with a huge payout for placing a £5
bet etc. The same can be said for the online bookmakers and these
bets should be avoided at all costs as they seldom come in and
in the long run you will lose far more that you win. Stick to
a strategy.
9. Plot a strategy
Get a strategy and stick to it. Don't bet on whims. That doesn't
mean you should be inflexible but do bet in a structured way.
If you place small bets for fun on weekdays then at least try
to take your weekend bets as a serious business with heavier wagers.
Better still 'though, cut out the "fun" bets altogether.
Ultimately there's far more fun in consistently winning than haphazardly
losing.
10. Enjoy your betting
To put it another way - just know when to STOP. Keep a check on
yourself and always try to be honest if you ever feel that betting
is running away with you. A long losing run tells you you should
change your system. If you've followed the other rules 'though
you won't have got into a situation where you are painfully losing
money. Be prepared to stop and take stock. Betting should be a
pleasure - but not an adrenaline rush. If you ever feel you need
help to get back in control, take it sooner or later.
