General Betting
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21 Mar 10
06:39
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Date Joined:
25 Oct 04
Hi all
Putting the call out to all the Betfair old timers & experts. :)
Discipline is a huge part of betting, whether on Betfair or the Tote.
I have found my profit tapering off due to lack of discipline......
and have found myself, at times doing the big punting no-no.....chasing.
Any constructive tips & ideas in how to keep a tight rein on my punting?
Putting the call out to all the Betfair old timers & experts. :)
Discipline is a huge part of betting, whether on Betfair or the Tote.
I have found my profit tapering off due to lack of discipline......
and have found myself, at times doing the big punting no-no.....chasing.
Any constructive tips & ideas in how to keep a tight rein on my punting?
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Replies: 44
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The only person that can keep the discipline angle is yourself. You can read comments from people all day long but if just don't have the willpower it won't work. You will already know when you are 'straying' from the discipline but you still ignore the fact and feel foolish when a losing bet hits home.
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Make fewer bets.
You will automaticaly become more selective and consequently disciplined. And NEVER EVER chase. |
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Also say " naughty boy " over and over again when you stray.
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rofl
Yeah I know you can read and read and read.... still interesting to get people's thoughts and opinions....! |
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Im starting to believe that people who chase must do so because they don't understand where their profits are coming from.
I've never felt the need to chase (and I wasn't a winning gambler immediately) because it's always been obvious to me that I'll win back the losses as long as i'm placing strong bets. In fact the only way the bookies can get me is if I give them a chance. Given that I hate the bookies, why would I give them this chance? As to the discipline side of things, it's been my experience that nearly all people (This still doesn't mean you're one of them, nor do I care, but it's worth asking yourself the question honestly) who claim they have bad discipline are just actually chronic aftertimers who think all their losing bets are "bad discipline" and all their winning bets are great bets. Obviously neither of those are true and that equation usually adds up to losing gambler. Again, this is not an accusation as I have no interest in whether you're a winner or a loser, but it's something you need to be honest with yourself about one way or the other. If it turns out you genuinely would be a winner if it wasn't for a strange urge to stick gigantic bets on things you know nothing about from time to time, then have a bloody serious chat with yourself about why you'd do such a thing! |
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Jez,
I wish I knew the answer.....I have my moments where I am hot (and unbeatable) and moments where I am colder than Antarctica. I find that the moments I am betting well is when I feel like I am in control, and I am not being reckless. Of course, when I am cold, I am chasing desperately...... I wish I knew how to "flick the switch" to be controlled all the time. Its the holy grail for me.... What I do know is you are a good punter - you will work it out. Yankee |
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Less is More
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Jez, it's not discipline. I'll say that again just incase you missed it, it's not discipline.
The way you behave when betting is a conditioned response. If you are to avoid repeating "a lack of discipline" you need to establish new behaviours for yourself and stick with them until they become the norm. I'll give you the perfect example that happened to me yesterday. I had a shocking day. I got hit seven times on dogs that I layed and lost. A few years ago this would have caused me to go on the chase way before I hit the seventh loser. I remained as cool as a cucumber the whole way through, if fact I am very pleased with myself. I maintained my equilibrium throughout. As far as personal performance goes it was spot on. I have reviewed all the losers and it really was "one of those days". Slower trappers were getting out, trouble in races was preventing better dogs winning etc etc. I'd have made the same selections again. I'm calm because I know I'll get it back over the next week and I know I'm not going to do anything rash just to get the account balance back in one day. When betting as soon as you feel a knot in your stomach, log off and get some fresh air. Always have your selections and staking planned before you begin betting. |
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but it's worth asking yourself the question honestly) who claim they have bad discipline are just actually chronic aftertimers who think all their losing bets are "bad discipline" and all their winning bets are great bets.
Wise words from Lori. |
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The advice about being more selective may be wasted and storing up problems for some mindsets. There was a classic example this month on here of someone betting a race a day oddson, then trying to get the original bank back on massive outsiders when the money was running out.
Mordin used to quote a psychologist who successfully treated problem gambling with a counterintuitive approach of betting much more,and more than 1 horse in a race, but for low stakes. Presumably this counteracts boredom and lessens the impulse to chase and get back in one hit, while the reprogramming that Dave talked about can take place. |
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i used to deposit money all the time due to chasing, stupid thing is i have a very good system that pays well when i stick to the plan. i would build £20 up to 200 in a few days with £3 bets then thinking its all too easy stick £50 on a good thing shortie,
it would lose of course, then £50 on another, lose the lot in 30 minutes. stick in another 50. and so on, now i have restricted myself to deposits of £50 a week and because i know i cant put more in if it goes t its up i dont do the stupid bets anymore. it does help chasers to do this. it would be a good idea if betfair could also introduce a maximum stake restriction on bets that you could apply to yourself, ok you could do the same bets several times but at least you would have to think, something a lot of chasers dont do, simply because they dont think off their balance as real money, just a number on a screen. it worked for me and i had zero discipline, |
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The big problem with a lot of punters is greed !!!
Would you be happy winning £500 ... answer would probably be yes Would you be happy doing 1000 bets to win 50p every time .... most people would say no, well there you go, thats what you call greed !!! There is no difference winning £500 in one bet to 1000 bets, if you went down the route of more smaller winnings you would eliminate the risk of losing big stakes .... Walking down the street to find a pound coin, or walk down the street to find 100 pennies, no difference, just takes a little more time but most people wouldn't even pick up the first penny when it could lead to the same outcome ... Dicipline is easy if you don't get greedy ! |
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Would you be happy doing 1000 bets to win 50p every time .... most people would say no, well there you go, thats what you call greed !!! There is no difference winning £500 in one bet to 1000 bets, if you went down the route of more smaller winnings you would eliminate the risk of losing big stakes ....
Schalke I don't really get involved in your threads, but that is just rubbish your spouting again. So winning 500 in different ways equates to greed? |
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You need to change your approach to betting if you want to actually make money at it. Don't bet for the sake of having a bet. Wait until you have a good reason for thinking a particular bet offers value at the price offered. Trouble is, sometimes you might have to wait a while for those bets to come around. If you can't wait that long and simply have to have a punt on the next race, then you need to somehow cure yourself of the gambling bug. Of course once you've done that you'll probably lose interest in betting completely :)
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Doing it in one bet yeah when you don't need to ...... thats greed ! Especially when you can't afford it !!
Doing more bets is a less risky way to win the same amount, divide the money up ... instead of risking losing the lot in one swoop |
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Tell me where I said doing it in one bet? Exactly , learn to read before you start spouting, its the same on your other thread, loads of people giving you good advice, but you think your way is the way to go. Good luck to you
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Oh FFS !!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Really, where do you guys come from .... and it is not rubbish I am talking, the biggest probelm with a high percentage of gamblers is GREED !!!!!!!! And being greedy leads to poor dicipline !!!!!!!!!! In my thread I could easily do a bet with bank 5 but that is just being greedy and unduciplined .... it's quite simple ! |
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When you get to bank five though , you're the exact definition of chasing. You'll go all in for all you have left chasing your losses.
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Yes, thats exactly what I am doing but my dicipline has been good ...... not gone off track at all in that thread. It's great doing the bigger bets, but I have got it in my head that you get the same buzz from a bet whether it's 50p or £50 ... doesn't matter. Long term winnings interest me more than individual winnings.
So would none of you say greed is the cause of poor dicipline .... you look at a 1/2 shot that you think can't lose, you have £200 in your pocket and you lump the lot, you know if it loses then you are £200 down but the £100 sounds better than winning £10 with a £20 stake. Why can't most people place the £20 instead? Because of their greed in wanting big winnings quickly .... |
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People think that chasing is poor dicipline but I disagree .... Poor dicipline comes into it when you lose money and you want it back instantly and bet on something without thinking about it and then regretting it thereafter
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and if it wins......he was selective...lol.
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Schalke 04 21 Mar 13:30
People think that chasing is poor dicipline but I disagree .... Poor dicipline comes into it when you lose money and you want it back instantly and bet on something without thinking about it and then regretting it thereafter ............................................................................................... Is that not chasing? |
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What if you have picked out Man Utd to bt Liverpool and then Schalke to win to cover any losses on the Man Utd game, it's chasing yes but with dicipline. You havn't gone in on a bet without thinking about it ...
Suppose we could call it selective chasing and panic chasing .... two very different ways of chasing, one with dicipline and one without |
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not gone off track at all in that thread
are you having a fkin laugh or what? randon 4 folds, doubles in set betting ffs, chasing womens tennis just because it was on next you've been very lucky indeed. you were 2 points away from you bank being 0 and after all that sh1te you haven't even doubled your money |
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2 points? What you on about?
Money has been doubled And I have been diciplined in my thread |
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Nothing random in the 4 folds, havn't done any doubles on set betting, chasing in womans wasn't just cause it was next match, I have my bets picked out for the whole day
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Oh and it is impossible for my thread to end up with £0
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going off topic here a bit but roddick won a tiebreak 7-5 did he not
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anyway lets not pollute other threads with challenge related nonsense
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yeah, so how do you come to the conclusion that the bank was 2 points away from zero?
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because your next bet lost as well - jesus
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And my thread isn't a challenge
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That would have been the next bet that lost the money, not the Roddick one, so you can't say two points away from losing bank ... you would have to say 2 points and another bet
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Schalke is a very useful poster on here.
He is perhaps a perfect example of all that one can do wrong in betting. Appllying the exact opposite of all he says could in fact be argued to be the perfect way to gamble. A slight bit of hyperbole I will admit, but not that far off. Schalke, if you don't understand the time value of money, then you don't have a donkey's chance of making a reasonable living out of gambling. And this in fact what this thread is about essentially. Your examples above of what or what not to do are so awful really in an educational sense. Just do what you always do, if it makes you happy, but please do not ever put yourself up here as offering some sort of role model to good betting techniques. You're are regarded at best as a joke and at worst as a pest by most. Your unending comps are by far the most boring pieces of posting on here or anywhere in fact. |
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Schalke 04 21 Mar 13:22
Yes, thats exactly what I am doing but my dicipline has been good ...... not gone off track at all in that thread. It's great doing the bigger bets, but I have got it in my head that you get the same buzz from a bet whether it's 50p or £50 ... doesn't matter. Long term winnings interest me more than individual winnings ====================================================== You are implying you do betting for a BUZZ?????? Some on here bet to make money .....not to get a "buzz"....... Of course it is good to get a bet "right" ........but the "buzz" element is something you need to control, otherwise it will take you overrrrrrrrrrrrrrrrrrrrr It does matter whether you are winning 50p or £50 in terms of a return on time invested.....To say it doesn't matter just indicates you are thinking irrationally! The point you make re GREED is probably "true" in that when you have a small bank you are not satisfied in winning £0.50p......so you push harder ( ie OVER STAKE) to make more....and bet disproportionately to bank size. This is why it is very very difficult to make money from small bank............. Once you have a larger bank and make £50 on bet , then you feel more satisfied ....even if ROI is same as on return that is 50p...... |
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Schalke 04 21 Mar 13:22
Yes, thats exactly what I am doing but my dicipline has been good ...... not gone off track at all in that thread. It's great doing the bigger bets, but I have got it in my head that you get the same buzz from a bet whether it's 50p or £50 ... doesn't matter. Long term winnings interest me more than individual winnings ====================================================== You are implying you do betting for a BUZZ?????? Some on here bet to make money .....not to get a "buzz"....... I do it for both, I really enjoy betting and I love the feeling of placing bets, and watching them, makes sport so much more interesting, and yes I also do it to try and make a little extra money Of course it is good to get a bet "right" ........but the "buzz" element is something you need to control, otherwise it will take you overrrrrrrrrrrrrrrrrrrrr totally agree It does matter whether you are winning 50p or £50 in terms of a return on time invested.....To say it doesn't matter just indicates you are thinking irrationally! Doesn't matter to me, I treat every bet the same no matter what stake I am using, I am just as pi$$ed off at losing 50p than I am at losing £50, you turned what I said into a negative where you should have turned what I said into a positive. If people don't mind throwing 50p away and bet on silly things then yeah I would agree not to think that way with £50' as well ... treat all bets the same ! The point you make re GREED is probably "true" in that when you have a small bank you are not satisfied in winning £0.50p......so you push harder ( ie OVER STAKE) to make more....and bet disproportionately to bank size. This is why it is very very difficult to make money from small bank............. Once you have a larger bank and make £50 on bet , then you feel more satisfied ....even if ROI is same as on return that is 50p...... Greed is one of the biggest flaws in peoples betting, they want to win big amounts and once they lose they find it very hard to win back, thats when they start going for crazy bets .... |
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Persons who are spontaneous will never be disciplined as far as staking.
The same goes for those who think on their feet or cannot wait to see whats around the next corner. I saw an article in newpaper a couple of weeks ago that said addicted gamblers have a fault in the wiring to the brain. That maybe true for half of the population as most people are addicted to something. |
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Schalke says " -- I love the feeling of placing bets -- "
That says it all about you I'm afraid. Betting successfully should be all about being boring and repetitious. Just playing the calculable probabilities day in day out. As they said in the recent GFC, the basic problem was that commercial banking became exciting, whilst it should always be absolutely boring. Same with betting. As soon as the adrenaline starts rising( or a buzz sets in), then you're probably making an incorrect bet, or at least a bet in an incorrect amount for the probailties involved. And yes, I agree you are probably showing signs of greed. |
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unfortunately schalke seems to have sidetracked this thread it would appear.
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