Tuesday, June 25th, 2019

5 Simple ways to stop YOU repeating past betting mistakes

May 4, 2010 by  
Filed under Essential Reading

There are many reasons why the majority of punters struggle to make their betting pay. The fundamentals of successful betting are not the easiest concept to understand, let alone put into practice.

1. Master the fundamentals

If you want to improve your betting and avoid profit draining mistakes you must be at least be prepared to learn the core principles, such as;

  • Betting banks,
  • Discipline,
  • Personal emotion,
  • Value principles

On the whole it is a lack of knowledge of one, or a combination of these principles which leads to the inevitable lack of confidence and will to carry on.

Punters that don’t learn from past mistakes continually repeat them!

You often here professional punters say that the key to success is more than just hard work, learning from your mistakes is absolutely essential. Punters that win by chance are at the mercy of luck, and generally give their jammy wins back to the bookies through one medium or another.

2. Understand Behavior Patterns

Behavior patterns are cyclic and continue until certain lessons are considered to be learned. Knowledge is superficial unless it is accompanied by personal experience. If you don’t apply self awareness to your betting decisions your actions will often determine the result. In simple terms if you don’t adhere to a set of proven betting principles no matter how good your selections are you will lose over any given period of time, because your betting actions and stakes are likely to be random.

3. Learn to Evaluate

Once you have a grasp of what is required to win you must then implement and evaluate various systems and methods until you find a few things that work for you. This evaluation period will test you emotionally and you must be prepared to change strategies and methods that initially you thought were sound.

The user of any system that relies on static rules will soon realize that he/she isn’t in possession of the holy grail of betting, but rather a reasonable method that is working at that particular point in time, and there are no guarantees that that method will continue to perform successfully in the near future.

4. Sports betting is a shifting tide

Sports’ betting is an ever changing area that is often affected by factors beyond anyone’s control. This partly explains why certain methods stop working for no instantly recognizable reason. If we take horse racing as an example, factors rarely remain completely static, i.e.

  • Trainers and horses go in and out of form
  • Owners move trainers, meaning  there strike rate my suffer in the future
  • Course characteristics change
  • Seasonal changes occur, such as the end of flat racing and the beginning of National hunt racing
  • Weather conditions affect the going

Determine where you are with your betting before making any real decisions on which way to proceed. Learning how to avoid what doesn’t work is equally as important as finding methods systems that do work again learn and evaluate. When I say evaluate I mean on a monthly basis not over a few days bets.

5. Keep records of your bets to avoid guesswork.

Withdraw your some of the cash. Don’t keep all winnings in your betting accounts, unless you are trying to grow your betting bank initially. When the cash is merely numbers on the screen you tend to view it in a slightly unrealistic way. You can’t beat the feeling of knowing you’ve made money from betting and then holding the wedge in your hand. As long as you’re in profit draw some out every month, it’s a good moral booster.

Every bet you make in a year will have an accumulative effect on your overall profit and loss. Evaluate your bank/s every month and assess if you need to increase stakes marginally in line with bank growth, or cut back because of a losing run. Ultimately its your money, and its REAL so protect it the best you can.

Jonathan Burgess

Jonathan Burgess is an official Betfair Accredited Trainer and racing columnist for various respected betting industry publications such as: Betting School, The Daily Punt and Betfair’s Education site. He also runs the Profitable – False Favourites Betting Tips Club Which cost just 24 pence a day. You can also connect with him on Facebook and Twitter

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Comments

2 Responses to “5 Simple ways to stop YOU repeating past betting mistakes”
  1. EASWARAN-India says:

    thank you jonathan
    i love it
    your thoughts are awesome
    keep it up
    easwaran

  2. bill gibson says:

    Thanks for that Jonathon. Very simply put yet full of common sense. We’ve all been down the road where the mistakes are made and those of us who learn from that will be the same people reading this and appreciating these words.

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