Discipline and Control in Betting
For the casual better who likes to have a small bet on a weekend, discipline may not be so important. The recreational bettor generally uses small stakes for a bit of fun and is not particularly bothered if those bets win or lose. There’s nothing wrong with that.
If, however, you are a higher stakes bettor and want to turn a profit, then you will need one thing above all else. Discipline.
Some years back Betfile conducted a survey. DIscipline in betting was the number one problem that people struggled with.
The sports season can be long and arduous. There are a lot of games to evaluate. A lot of bets to place.
Good Betting Practice
The first thing is to get the right price / odds. You want to be sure that, at least ‘in your head’ you are getting value. Many times here at Betfile we have done the research on a bet, perhaps later than we should have done, and by the time we come to place the bet, the line / odds have moved against us. You still want to place that, after all you have done all the research! Yet you have to just leave it. You should not be placing a bet if you don’t think the price on offer is value, that is, the team has a better chance of winning than the price suggests. Luckily on a busy weekend there are plenty of games to get stuck into, so not being on the odd game shouldn’t matter.
The other thing you need to do is control your emotions. If you find that your picks are going down one by one – resist the urge is to try to claw back your losses on another game or event. At this stage there is a danger that all logic might get tossed aside – you won’t care what sports it is or whether you’ve researched the market properly – your mind is set on getting back your lost cash. You might get lucky a few times but ultimately this will kill your bankroll. Don’t ‘chase’ your bets. Be disciplined in your betting.
It’s sounds boring but unless you are betting for fun or for thrills – slow and steady is the best way to go. If you have a great week of betting, then accept it. If you have a bad week of betting, then accept it.
There are plenty of competent, profitable bettors out there who could have made it but failed because they couldn’t keep their discipline.
Perhaps the best way to counter the above issues is to bet within yourself. Use stakes that you are comfortable with. You want to be relaxed in your betting, not ‘sweating’ every game.
A Few Rules
There are many obvious rules that you should follow, like don’t bet when you’ve been drinking but I think we can assume that you can work out what these are!
A few more useful tips:
- Keep your betting funds separate from other finances.
- Keep records. Over a long period you’ll be surprised what they can reveal.
- Value is key. Price is everything.
- Don’t chase losses.
- Use a flat stake amount to begin with.
There are plenty more ‘rules’ you could adhere to and of course not everyone will agree with the above. One of our crew is a solid bettor and never keeps records and rarely looks at his results. He’s not interested in knowing if he has had a bad day or month. He just knows that by the end of the season he will be in profit nine times out of ten!
We would advise you to keep the above information in mind but ultimately you need to do what is right for you.