Posts Tagged ‘Betting’

Becoming A Successful Bettor – The Golden Rules

Tuesday, June 8th, 2010

Today we will uncover what we believe to be the most important factors that will contribute to your betting success. These are the golden rules:

Choice

One of the most powerful weapons we hold is choice. The bookmakers and exchanges are committed to offering prices on virtually every single sporting event, but there are undoubtedly events that are more “bookmaker friendly” than others. The professionals will wait until the right opportunity crops up. It is essential to weed out the bets that favour the bookie (such as the ones they advertise), and only bet when we have value on our side. It is essential to understand and accept that we are not going to win all the time – you have to take a long-term view. This is what following the mantra of “value” will enable us to do.

Patience

Leading on from choice is the virtue of patience. One of the biggest problems the novice professional will face in their keenness to make money is forcing bets when they should not. This is a guatanteed way to enter a spiral of losing bets that can rapidly run out of control. It can be frustrating when the opportunities seem few and far between, but you must resist the temptation to bet for the sake of it. If you do you are “gambling” and throwing away the advantage you have over the bookies or fellow Betfair punters.

Bank Management

A business-like approach to bank management is always employed by the professionals. You must always be aware of how much of your bank you should be risking in any given scenario and not be tempted to deviate from what you know is statistically correct. As with all businesses, there are running expenses and you must get into the habit of viewing losses and payments to valued services etc. as the essential expenses needed to run your business effectively.

Portfolio Approach

All professionals operate a portfolio of betting methods designed to compliment and support each other. The nature of the game means that even proven systems over time will have winning and losing streaks. A diverse portfolio ensures that the likelihood of a system going through a losing streak is balanced by the likelihood of another system experiencing a winning streak. As long as the systems used are proven over time, the end result will always be an increasing bank.

Visit Cherry Bets to discover a variety of successful horse racing betting systems.

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Have You Got A Bettor‘s Mindset?

Wednesday, March 17th, 2010

Did you know that controlling emotion is the biggest element of being a successful bettor? Approximately 90% of all bettors fail to achieve this and only 10% go on to succeed at betting because they have the right betting mindset.

The psychology behind betting can take time to develop and will result in consistent success, but it has to be worked at, depending on the place you find yourself in emotionally at any given moment in your life.

In order to “fix” psychological issues you must first become aware of the problem and the issues causing them. Take a look at some of the most common issues and honestly answer the following questions:

Are you frightened of taking a loss?

Do you come out of bets through fear of a winning position reversing and then feeling let down?

Do you need instant gratification by chasing losses?

Can you take the responsibility for your selections and accept the reality of the event?

Are you a compulsive bettor, drawn to the excitement of the meetings?

Do you have unrealistic expectations and feel anger after losing a bet?

Do you limit your profits as you may have low self esteem and feel you don’t deserve to be a winner?

Do you always follow your proven betting system as you may not trust in your ability to choose a successful one?

Do you overthink your bet, second guessing your betting signals?

Do you bet too much through greed?

Do you feel irritable after the betting day due to anger, fear or greed?

Do you bet with money you cannot afford to lose or bet with borrowed money?

How many of these issues may have referred to you? Have you answered the questions honestly? It would be a good idea to keep a list of your possible failings within view it at all times during your betting day and this will ensure you do not fall into one or more of your psychological traps.

These are by no means all the psychological issues, but are the most common.They usually centre on the fact that the bettor is not following their chosen betting approach or system and prefers to wing it or gamble emotionally.

Your goal as a bettor is to maintain an even keel so that you are not emotionally affected by winning and losing bets. Reach this equilibrium and you are on the road to success! Combine this state of mind with a successful betting strategy such as The Cherry Lay System and there’ll be no stopping you!

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Betting Psychology – Money Management – Betting Strategies

Wednesday, March 10th, 2010

THE GOLDEN RULES

Before anyone even dreams of succeeding in the gambling industry, they should be made aware of the four golden rules:

1) Bet only as much as you can afford to lose

2) Gambling is a marathon and not a sprint

3) Never chase your losses once you hit a losing streak

4) Always remember rules 1, 2 and 3!

BETTING PSYCHOLOGY

Many punters with a very good strike rate fail to show any kind of profit due to very poor money management and betting psychology.

Gambling ought to be thought of as an investment where money is ultimately earned from initial capital outlay. Good investors know how to protect their capital and not throw it away on a hunch. Betting should be approached in the same way.

One of the best ways to protect capital is to monitor results over a period of time, ideally for a whole season of the sport you like to bet on. You should then be able to calculate your strike rate and the average odds. From then onwards you can proceed to subdivide your strike rate according to the different odds.

You should now be able to calculate your LLR (Longest Losing Streak), your LWR (Longest Winning Streak), and the yield you accomplished in the different odds.

Once you have gathered and monitored your results, you can identify and remove any bets that caused you a negative yield and loss of capital, and then you can see what method of staking suits you best or improves your profitability.

Now you are becoming a more refined Bettor and assuming a mathematical/professional approach. What you are doing is following a simple investing rule by minimizing your losses and maximizing your profits. Consider your gambling as your own home business – try to achieve the maximum profit you can with minimum risk to your initial investment.

You must be aware that there is just as much chance of winning as there is of losing. DO NOT GET DISAPPOINTED if you hit a losing streak and DON’T GIVE UP. It is bound to happen and you should be prepared for it.

For more information on some excellent betting systems, please visit Cherry Bets.

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