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General Betting
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These 289 comments are related to the topic:
is discipline an edge?
is discipline an edge?
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Maybe it's time you started to take more notice then Mansini. "Maybe not" is the correct answer, but you already knew that.
I guess I've upset you, but if you look back I did say "nothing personal", it's just that I don't like lies and can't help myself but to comment on them when they're so blatent. Nothing personal of course :) |
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yeah i know..some guy wrote before asking for advice, so i gave him my 'ideal scenario to make money'. In reality yeah, im an idiot who has occasionally put my entire bank on a football game i know nothing about. But.. I didnt think this would be a good tip "be disciplined, bet on what you know...and sometimes when you are hammered, put you entire bank on smth you know nothing about'
 So I told him what I aim to do 99 % of the time, and what I achieve 99.99 % of the time, which is why im in profit... Shoot me. I Deserve it  |
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the reality is that my aim is to never ever bet on what i dont know about... But, about 5 times in my 6 year betfair career, i have put my entire bank on smth i know about. Just for the thrill of it. I wont apologise..[:x]
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Trev i notice you joined in 2006. So, in almost 5 years you have never bet on anything you aren't an expert on. I can say truly without 1 % of sarcasm that you are my idol and i want to reach your level, and that, i am ALMOST there. Almost. Right now, no, not quite, but i see a bright future
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1% +/- what?
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A punter backs ManU in every match they play, to the exclusion
of any other team or any other bet bet. This is discipline, but does it give him an edge ? |
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doubtful -
at bookies odds, he would lose because of the overround. On here, over a sufficient period of time, he would do worse than break even because of the commission. |
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Point I'm making is that discipline is meaningless if
the punter doesn't already have an edge to work with. I suppose it means that with 'discipline' pointless bets will not be made, but if no edge in the first place, the whole thing is pointless. Just betting for fun.  |
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I agree with ken on that one. As I've stated before, discipline is only required if you are not naturally prone to doing what is necessary to succeed.
Successful use of discipline could be summarised as: Find out what needs to be done and do it whether you feel like it or not. If what needs to be done comes naturally to you (meaning you always feel like doing it), discipline is not required. |
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Discipline pertains to the ability to avoid taking unnecessary risks in this context, at least from my point of view. It means being able to discern circumstances in which your edge may have an unforeseen downside. So in reality it just means being diligent enough to avoid oversights. Other than that, an edge is an edge and over the long run should always pay off. Thus the more you bet and the more times you bet the more you should make (in theory :)).
Beyond that I like Investor's definition "discipline is only required if you are not naturally prone to doing what is necessary to succeed." CS |