HELLO, good evening & welcome to the fourth part of my A-Z guide to better punting. I hope it reaches you well. Have a little read, digest it, then apply the wisdom to your next few bets & see how much your bank rises.
D is for do your maths
If mathematics isn’t your strong point, take steps to make sure that it is. A lot of failed bets are down to simply doing your maths wrong. For example, if the selection you’ve put your money on was priced at 2.0, when in reality it should have been closer to 5.0, then you’re the mug. Never put a bet on before you’ve worked out which website offers you the best odds on that bet, making sure of course that you’ve compared like for like i.e. decimal against decimal or fractional against fractional. Would you know, for example, that 7/4 is actually a longer price than 1.74 or that 2.26 is a longer price than 9/4? Don’t forget that Betfair claim five per cent of all your winnings if you place a bet on their site, whereas other sporting websites don’t take a commission. Having said that, Betfair prices are often far superior to those offered by others! There is plenty of light illuminating the tunnel to success online, however, even if you’re more of an Albert Trotter than an Albert Einstein, in the form of dutching calculators, bet settlers and the like which work everything out for you.
D is also for Do your research
Flukes do happen, but not very often. The more you know about the subject of the bet, be it a horse, a tennis player, a football team or whatever, the better. That knowledge, however, is not sufficient foundation to make a bet. You also need to know all about the opposition. This is a mistake many mug punters make all the time. And they wonder why they have so many losing streaks.
How about betting on contests where there is little to no chance of a fluke? That’s the way you need to think.
Research and study takes time and effort, but this will ultimately be rewarded in cold, hard cash. Every professional punter will specialise in one sport, because to try and gain the breadth and depth of knowledge required to consistently win money in more than one sport would take a brain the size of Las Vegas.
D is also for Don’t chase your Losses
Never ever chase your losses. Take them on the chin, put them down to experience, assess exactly why you lost in as scientific and analytical a way as possible, then steel yourself for your next bet – and don’t rush into it. Perhaps take a little time out for a total rest or a spot of paper trading. Fail to prepare and prepare to fail – it’s an old cliché, but one of the many that are spot on when it comes to betting. Chase your losses and all you’ll end up with is more losses. This is a true mark of a mug punter. Consider this – you’ll only have losses to chase if you’ve put daft bets on in the first place.
Remember: Always try & protect your stake wherever possible by timely trading
Good luck & happy punting!