Top Ten Betting Mistakes
Sata MatakaSata Mataka
The first task to formulating a solution, is to define the situation.
The following points are aspects of betting where many punters often get it wrong. My views arise from long knowledge and years of communication with successful and unsuccessful punters alike.
My aim this is to highlight these common aspects of failure in the hope will be able to speed up your learning curve towards successful betting.
Browse the following thoughts and you will be able to side step lots of the pot holes others have fallen into previously.
1) Failure to work with Betting Banks
Most gamblers fail to understand that the best method of achieving a normal and sustained long term profit from racing is usually to set aside a sum of money from your main finances, solely for the betting of horses. Whatever method or system you use, whoever you are following or signing up for or however your own bets are calculated, you happen to be better off with a "Betting Bank" containing built -in advantages to help you. It needs to be independent from the own personal finances and needs to be protected from factors that may threaten it. This could take a lot of emotion from the decision making process. Emotion is a factor that threatens all punters. How big is your betting bank will of course be dependent upon your own personal individual circumstances and free capital available.
An analogy to the world of shares perhaps could possibly be that no financial advisor worth his salt would advise you throw all your capital to the stock market alone. The vast majority of punters fail to use any form of set aside bank. They bet randomly in what ever money they have in their pocket at the conclusion of the week or go ahead too deep with stakes far over their personal safety levels. A punter which has a professional attitude will set aside what he is able to comfortably afford to invest after which determine the best use he can make of that fixed sum of capital. With a fixed quantity of capital available at this point you move on to the next basis for failure.
2) Failure to Stake Correctly
It is essential that you consider your betting bank as capped in amount. You don't need to an endless pool of resources to dip into. Betting by its nature carries inherent risks. These risks include periods of low strike rates and long losing runs. Your betting bank and staking must be adapted for the method you use. You must in advance, ready yourself for the possibility of a worse than average sequence of losers through adoption of the sufficient number of units inside your betting bank. Correct methodical staking as well as the mathematical advantage, can also help overcome the risk of emotional reaction to a sequence of unusually positive or negative results. Take the Pricewise column within the racing post as one example.
Long term if you could easily get on at the advised prices, it might have returned a decent profit overall. During this time period however followers would need to have endured runs up to 40 losers in a row! Despite the overall long-term profit I suspect most Pricewise followers would have been terminated either with a failure to set aside a sufficient amount of points or through failure to cope with the emotion with the losing run. We now have long since established here a strike rate of around 35% on our Best Bet selections possibly at an average S.P. of over 5/2 for each winning bet.
We feel able to protect clients banks for as long losing runs haven't happened as well as the strike rate and odds have already been more than enough to ensure long steady and safe growth for your betting profits. That's in essence the key to winning money. Manage your accounts in ways that protects them so far as possible from the part of risk that the game presents you.
3) Chasing Losses
Chasing losses in the beginning sight may appear to get an easy way to guarantee an eventual profit but the true story would it be is a game for fools and statistically won't work unless you generate a standard level stakes profit. Chasing losses can be a game for the ill informed who don't want to make the effort to seek value in their bets. Bookmakers must price
up every race. Punters don't have to play in every race, they could pick the races they wish to bet in,and that's the main edge that people fail to understand.
If you have had a losing day, by looking to chasing your losses you allow up that advantage and bet from the races that you should not betting in. You're therefore betting the best way bookmakers want you to and never in the way to win. Many punters will alter their stakes during the last race either to
"chase" losses or "play up" winnings. Its no coincidence that the
bookmakers have ensured that this last race on every day is often a handicap a treadmill of the hardest races tomorrow. There will be more racing the very next day and the day after that.
The secret's waiting for opportunities and just betting when you know you've circumstances which favour as well as not the bookmakers. You must never change your approach, or deviate from sensible staking while there is no such things as "The Last Race".
4) Lack of Value Appreciation
Appreciation of "value" in the bet is core to long term success.
To profit more than a long series of bets you have to be betting at odds more than the true chance of winning your selection have. To get this done however over the long term, you need to concentrate on each race individually and ask for the value bet because race. There is value available in every race. The main element to it is understanding
where that value is. Often a punter will ruin a losing betting slip and say "At least I had some value".
There is absolutely NO relationship between value expenses. A 33/1 chance could possibly be diabolical value yet an extremely short priced favorite may be supreme value. This doesn't follow that the bigger the cost you take the better "value" you've got. The value is sometimes clear but often well hidden plus it takes a trained eye to view that. Everyone has this "Foresight" sometimes, it is a game about opinions all things considered and nobody is always wrong or right. Value can be the most costly word in racing if you fail to bet winner. That old cliche is that value is around betting a horse whose true chance is superior to its price reflects.
Which reaches just a small part of it. You need to to make sure that you bet correctly and in the right races as that's the only way you can keep strike rates high and protect a betting bank. You need to continually strive to increase value with your bets. Once you have a selection you feel is value don't just take the first acceptable price that comes along. Seek to improve it by searching the various bookmakers or try to top the best bookmakers price by seeking to the betting exchanges. Marginal improvements on odds on each bet you make can have a dramatic effect on long term profits.
5) Greed For immediate Wealth
Many punters seek the thrill of a life changing bet that may produce huge gains of instant wealth to get a small outlay. Bookmakers use your natural desire and walk out their way to encourage you to bet exotic multiple selection bets that will in one hit, turn a smaller stake into a large sum. Professionals however rarely bet in multiples. Most professionals bet singles and steer away from the multiple bets. Bookmakers relentlessly promote numerous multiple bets with exotic names including Yankee, Lucky 15, and Goliath.
The reason why they are heavily touted could be the profit margin in the bookmaker's favour enhances the more selections you add to your multiple bet. Say you select any random 5/1 selection. In the event you bet this being a single the bookmaker will have a theoretical edge in his favor of 15%. Taking two such selections however and betting these questions win double, the bookmakers profit rises to about 30% ! Yes your win double can create a much bigger win in the same stake however over time the bookmaker is eating away for your capital at a much faster rate.
It is a waste of time debating which type of multiple bet is 'best'. Unless your prediction skills are supernatural otherwise you are incredibly lucky, then betting in singles is much more often the best option. You might say that many "Pros," do bet in multiples in bets much like the Scoop 6 or Jackpot, but that's only simply because they know there is plenty of "Dead" money in any given Pool and they are generally betting against people who don't understand the dynamics of people types of bet. There are times you should bet in multiples in truth they are quite few.
You can't approach this like a "Get Rich Quick " scheme. This is a long slow process of serious and sustained profit instead of a game for Get Rich Quick schemers. If you go Into any Betting shop, take a look at all the posters on your wall offering "special offers", "enhanced terms " and "bonus offers". You will notice they are all multiple bets. Bookmakers i would love you betting in multiples and it is easy to see why. They carve most cash in on them. You never visit a Bookmakers promotion offering extra's over a win or each way single. Ask
6) Not enough Discipline
Lack of Discipline will be the big hurdle for punters trying to turn a losing
hobby into a winning one. Bookmakers are aware that. That's why in every
betting office you'll be able to bet on numbers, lotteries, ball games, racing from all over the globe with horses nobody has got word of before and even now cartoon, or as they refer to it as, virtual racing. Bookmakers just believe its a case of punters sitting throughout the day betting on what ever is scheduled in front of them but yet they are right in most all cases. They are simply thrill seeking and don't care what they bet on, as long as they can bet.
There isn't any methodology at all and lots of betting office regulars are simply a bunch of headless chickens happy to pay long term for the warming buzz from the occasional win. Much more experienced regular gamblers that are savvy enough to show down bets they know are stupid notify themselves down by continually bleeding their profits which has a fun tenner here as well as a fun tenner there. It takes great discipline never to bet at times. It requires discipline to walk away from a horse if the price isn't right. It requires discipline to say no fot it small fun bet.
It will require discipline to keep your take advantage your pocket and deny yourself the emotional buzz of watching your runner. Punters are available in all shapes and sizes. Even the shrewder punters who could win on the game, fall into the trap of insufficient discipline of study. After a winning period they forget that what made them winners in the first place, was the effort they put in. They become a victim of
over confidence, laziness and indiscipline. Being a long term successful punter is a lot like swimming against the tide. It takes an effort to stay still, even more effort to move ahead so when soon as you relax or slack off you start to go backwards.
Betting is really a lonely game. It is a highly skilled game. Emotion
undermines success in several ways. There is comfort in understanding that as a sheep when you find yourself wrong it is not your fault when you were simply doing what everybody else was doing. With betting, the laws of market supply and demand, dictate that long term, the sheep will get fleeced. Emotion neutralises discipline and long proven successful practices. The result of any isolated race has no relation to races right before that or just next. Races should be viewed in isolation from each other. We are all emotional in betting nevertheless the players at the top of the tree have this as a result of a fine art and will control those emotions.
Other punters have long since been conditioned by bookmakers to EXPECT to lose rather than win. They've got an in built psychological factor that makes them feel like
losers with been conditioned to losing by many years of doing so. Over 95% of punters are flawed emotionally. Samples of emotive gambling include punters following a horse,trainer or a jockey blind. The "Hype" horses are cannon fodder for emotional punters. They might also follow tipsters blind as they "hate" the thought of missing out on a success. They pay no awareness of the changing conditions of your race that may follow non runners or the ground changing. They misunderstand confidence and should not cope with a lack of confidence.
Emotion also prevents people from advanced betting subjects such laying, hedging and arbitrages. Emotion forces some punters to bet horses with certain names that remind them of loved ones. Names such as "Long Tall Sally " and "Susan's Pride " attract many in their mind just for a name that's relevant to them. Most punters have a grudge against their own money and winning and getting good results is alien to them. Emotional punters lose their heads in barren times and neglect to capitalise on winning runs. They mess about with systems and staking plans that produce no sense.
The more emotion you can eliminate of your betting, the greater successful you will become. You will need to view everyone in the game because your enemy and as people trying to take your hard earned money far from you in the same way while you would a pickpocket. When you can master your heartaches you have made the first big the answer to betting profitably.
8) The Grass is Greener
The grass is rarely Greener on the Other Side. The fact is that the grass that's not working for you has not been grown, cultivated or cared for properly. Many punters change approaches and techniques so quickly that they don't give any method a genuine test. If they look for a system that works they do not continue after a few bad results. It is the same as gamblers who take note of every bet they've got. Once they have a few losers they generally lose the heart to accomplish this and stop doing so and move on to another area. They are like children with new toys at Christmas. They never stay with any method for a specified duration to prosper.
They always feel the" Grass is Greener", while in truth the "Grass" they're using has been abused and left to deteriorate. They want the next Big "new idea " or "method " which doesn't work either as the fault lies not from the Grass, but the Gardener.
Other webcam matches long term consistency within their betting and are constantly trying out what wasn't broke or moving forward in search of the holy grail before a full evaluation of the items they are currently examining has been completed.
A competition to win best garden will be won by the person who is able to spend most in time the garden and master its challenges, the gardener who's prepared to care about his garden and put money into the tools that will help his garden grow and make the weeds at bay. It's the same with betting. You'll do far better lasting if you can make a concentrated effort of learning and research in a single key area as an alternative to flitting from this fot it.
Most punters are LAZY! They have got religiously followed a doctrine of poor planning and not enough research. They don't study and spend hours considering how they can win at betting. They don't invest in the game and spend money on their own learning. You cant refuse to spend money, just go through the racing for A half-hour and expect to win lasting. You simply can't get away with that inside the hardest trade of most, Winning Money at Betting. Whether or not this was that easy, then millions would do it.You must either invest in your betting, or pay anyone to do just that. Natural human tendency is always to try and get away with the very least amount of effort. Lazy punters are cannon fodder for the bookmakers.
They make little or no effort in their selection process nor make an effort to extract maximum returns from their bets. Those who place the most work in include the more likely to succeed. My philosophy is straightforward. I believe that if a bookmaker, journalist or odds compiler spends Three hours on a race then I'll spend 6 hours on that race to gain the edge. The famous golfer Gary Player once said "The Harder Regularly the Luckier I Get". That is true about both golf and betting.A lot of people can't spend 12 hours every day studying betting as they have families, jobs, commitments and lead their very own lives. That is what you have to pay us for. We all do that study in your case and re-invest money in our betting in order that we can find every edge simple to Help You Win.
Amazingly most punters are not able to learn from their mistakes. They continue for years making precisely the same basic errors time and time again. Pure stupidity. Make an effort to improve your betting performance by continually learning from the mistakes and weakness will be your game. Your bookmaker might have been laughing at you for decades. You have it in your power however to enhance your betting and hopefully wipe that smile from his face forever.