To formulate a solution, the first step is to identify the problem.
These are some areas where punters frequently make mistakes in betting. These views are based on years of personal experience and communication with both successful and unsuccessful punters.
In the hopes of speeding up your learning curve to successful betting, I am trying to highlight these areas of failure.
These thoughts may help you avoid many of the same mistakes others have made in the past.
1) You do not use betting banks
Gamblers often fail to realize that the best way to make a long-term profit from horse racing is to keep money aside from your main financial accounts to bet on horses. No matter what system or method you use, no matter who you follow or subscribe to, or how your bets are calculated you will benefit from a “Betting bank” that offers many benefits that will help you. It must be separate from your personal finances and protected from any threats. This can remove a lot emotion from the decision-making process. All punters are at risk from emotion. Your individual financial situation and available capital will determine the size of your betting account.
Perhaps an analogy for the world of shares is that no financial advisor worthy his salt would recommend you put all your capital in the stock market. Most punters don’t use any type of savings bank. They either gamble with whatever money is available to them at the end, or they place stakes that are too high for their safety. Professional punters will invest only what they can afford and then make the most of the capital. You can now move on to the next cause of failure with a fixed amount of capital.
2) Failing to stake correctly
You should consider your betting bank to be capped. There is no limit to the amount of money you can dip into. There are inherent risks to betting by its very nature. There are periods of low strike rates, long losing runs, and other risks associated with betting. You should adapt your betting bank and stakes to the specific method you use. By having enough units in your betting bank, you can prepare for a worst-than-average sequence of losers. Methodical staking, in addition to the mathematical advantage can help to overcome emotional reactions to unusually positive or negative results. As an example, take the Pricewise column of the racing post.
If you were able to keep the prices attained, it would have made a decent profit over time. However, this period would have seen up to 40 consecutive losses for followers. I believe that Pricewise’s overall profit would have been much lower than the long-term profits. This could be due to either failing to save enough points or a failure to deal with the emotions of losing runs. Since long, we have established a strike rate of 35% for our Best Bet selections. This is in addition to an average S.P. Each winning bet is worth more than 5/2
As long as there have been no losing streaks, we feel confident in our ability to protect client banks. We also believe that the strike rate and odds are sufficient to provide long-term steady growth for your betting profits. This is the key to winning more money. You must manage your accounts so that they are as safe as possible from any potential risk.
3) Chasing Losses
Although it may seem like a simple way to make a profit, the truth is that this is a fool’s game. It will not work statistically unless you have a level stakes profit. The ill-informed who don’t want to invest the time to find value in their bets should not play the game of chasing losses. Bookmakers must price
Every race is welcome. The advantage that punters don’t need to play in all races is that they can choose the races that they are interested in.
You can lose your advantage if you try to chase your losses and place bets in races you shouldn’t be. This is why you are betting in the wrong way. Many punters will adjust their stakes after the last race.
You can either “play up” or “chase” your losses. It’s not a coincidence that the
Bookmakers ensure that the last race of each day is often a handicap, or one the most difficult races on that day. The next day will bring more racing.
Waiting for opportunities is the key to winning. Only bet when you are certain that you have favorable circumstances. As there is no “The Last Race”, you must not change your strategy or divert from sensible staking.