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How To Win At Sports Betting [part 2] |
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Bookmakers
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Accurate record keeping and a diligent money-management policy are equally if not more important than the ability to pick winners for anyone with ambitions to make consistent profits in the sports betting arena.
Most people with a general interest in sport have the ability to pick a winning team in any contest, but the belief that this alone is enough to secure a steady flow of profits is a certain recipe for disaster. Without an overall plan and accurate records of all bets placed it is impossible to rise above the level of intuition and lucky guessing over an extended period.
Make no mistake about it, there are countless punters all over the world who fail regularly to make a decent income from betting simply because they rely totally on their ability to pick winners without regard for money management and a cohesive strategy that covers the "bigger picture."
We know of many gamblers who have ended their days with little to show for a lifetime's work despite having reasonable ability in researching and weighing-up the factors involved in determining a winning bet because they didn't formulate a long-term plan and strategy.
Are we making ourselves clear? Have we got your attention? Let's say it again. To have any real prospect of making long-term profits from the field of sports betting - accurate records, money management, and a dedicated approach to research and fact-finding are crucial and compulsory, or a lifetime of disappointment is guaranteed.
So where do we start? That's easy, first of all we need a few items to help us along. Get yourself a pen and a notebook, some refreshments (tea, coffee, fizzy carbonated drinks and chocolate are good, alcohol is not) and get comfortable.
Today we establish the principles that will last a lifetime, and go a long way towards turning enthusiastic amateur punters into full time professional sports investors.
Let's be clear that there is no magic formula or secret ingredient that will turn a pin sticker into a bookie-plunderer overnight, and there are simply no shortcuts that we know of. Hard work and persistence are the qualities needed here, and if you aren't willing to invest some time and effort then it's time to stop reading.
If on the other hand you have a desire to move up a level from a hobby bettor, then get ready for many hours studying your new profession, and be ready to reap the rewards.
Starting today, not tomorrow, but today, establish a bankroll. How much are you prepared to lose? How much can you afford to invest in yourself? Set a figure that you can live comfortably with and be prepared to lose every single penny of it. |
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Hang on, isn't this supposed to be about winning money? Yes of course, but let's use the initial bankroll and set ourselves a "worst case scenario" where it all ends up in the bookies wallet.
It won't happen if the principles we outline are followed, but let's assume it all goes horribly wrong and if the bankroll is an amount we can afford to lose, then nothing will be lost except a little money. Our lives won't be dramatically altered by a
mis-guided attempt to enter an arena for which we have no aptitude.
Starting today we will make a note of every single bet we make. The selection, the price, the stake in both monetary terms and as a percentage of the overall bankroll. No exceptions, no misses, no excuses.
Every single penny of the bankroll must now be accounted for every step of the way with no room for the "I'll do it later" attitude. Quite simply, without this record keeping there is absolutely no possible way of getting an accurate picture of a betting campaign, and if it's left to memory we cannot hope to progress beyond the level of amateur punting.
The next rule to ingrain on our thought process is how much to bet with on each bet, and the rule here is simple. Never bet more than 5% of the bankroll at any one time. Less would be better, and 5% is enough.
This means that if the bankroll is £100, on no occasion should any more than 5% of it be at risk at any one time.
It doesn't matter if a "sure thing" is offered (there will always be sure things), no more than 5% is a rule that we adhere to except under the most exceptional circumstances.
The reasons are easily explained. By never risking more than this percentage we are assured that a bad run of losing bets will not wipe out our entire bank, and all the while we'll be building up an exhaustive record of bets placed that will help us to pinpoint our strengths and weaknesses in the tipping area of our strategy.
We cannot emphasise strongly enough how vital this first-level money management principle is to long term success. Without the discipline required to stick to the strategy we might as well give up and go back to whatever methods we used before.
In summary here's what we've outlined today.
1/ Establish an initial bankroll
2/ Keep accurate records of all bets
3/ Never risk more than 5% (less is better) of the bank at any one time.
Part 3 CLICK HERE |
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