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Top Ten Betting Mistakes

The first step to formulating a solution, is to define the problem.

The following points are areas of betting where many punters often get it wrong. My views arise from long Boxing betting personal experience and years of communication with successful and unsuccessful punters alike.

My aim here is to highlight these common areas of failure in the hope that I can speed up your learning curve towards successful betting.

Read the following thoughts and you may be able to side step many of the pot holes others have fallen into in the past.

1) Failure to Use Betting Banks

Most gamblers fail to understand that the best method of achieving a healthy and sustained long term profit from racing is to set aside a sum of money away from your main finances, solely for the betting of horses. Whatever method or system you are using, whoever you are following or subscribing to or however your own bets are calculated, you are better off with a “Betting Bank” that has built -in advantages that can help you. It needs to be independent from your own personal finances and needs to be protected from factors that can threaten it. This can take a lot of emotion out of the decision making process. Emotion is a factor that threatens all punters. The size of your betting bank will of course be dependent upon your own individual circumstances and free capital available.

An analogy to the world of shares perhaps may be that no financial advisor worth his salt would advise you throw all your capital into the stock market alone. The vast majority of punters fail to use any form of set aside bank. They bet randomly with what ever money they have in their pocket at the end of the week or go in too deep with stakes far in excess of their personal safety levels. A punter with a professional attitude will set aside what he can comfortably afford to invest and then determine the best use he can make of that fixed sum of capital. With a fixed sum of capital available you now move on to the next reason for failure.

2) Failure to Stake Correctly

It is vital that you consider your betting bank as capped in amount. You do not have an endless pool of resources to dip into. Betting by its nature carries inherent risks. These risks include periods of low strike rates and long losing runs. Your betting bank and staking should be adapted for the method you use. You must in advance, prepare yourself for the possibility of a worse than average sequence of losers through adoption of a sufficient number of units in your betting bank. Correct methodical staking in addition to the mathematical advantage, can also help overcome the risk of emotional reaction to a sequence of unusually positive or negative results. Take the Pricewise column in the racing post as an example.

Long term if you could get on at the advised prices, it would have returned a decent profit overall. During this time however followers would have to have endured runs of up to 40 losers in a row! Despite the overall long term profit I suspect the vast majority of Pricewise followers would have been terminated either by a failure to set aside a sufficient amount of points or through failure to cope with the emotion of the losing run. We have long since established here a strike rate of about 35% on our Best Bet selections and at an average S.P. of over 5/2 for each winning bet.

We feel able to protect clients banks as long losing runs haven’t happened and the strike rate and odds have been more than enough to ensure long steady and safe growth for your betting profits. That is in essence the key to winning money. Manage your accounts in a way that protects them as far as possible from the element of risk that the game presents you.

3) Chasing Losses

Chasing losses at first sight may appear to be an easy way to guarantee an eventual profit but the true story is it is a game for fools and statistically will not work unless you generate an overall level stakes profit. Chasing losses is a game for the ill informed who do not want to make the effort to seek value in their bets. Bookmakers have to price
up every race. Punters don’t have to play in every race, they can pick the races they want to bet in,and that is the main edge that people fail to understand.

If you have had a losing day, by attempting to chasing your losses you give up that advantage and bet in the races that you should not be betting in. You are therefore betting the way bookmakers want you to and not in the way to win. Many punters will alter their stakes in the last race either to
“chase” losses or “play up” winnings. Its no coincidence that the
bookmakers have ensured that the last race on each day is often a handicap or one of the hardest races that day. There will be more racing the next day and the day after that.

The secret is waiting for opportunities and only betting when you know you have circumstances which favour you and not the bookmakers. You must never change your approach, or deviate from sensible staking as there is no such things as “The Last Race”.

4) Lack of Value Appreciation

Appreciation of “value” in a bet is core to long term success.
To profit over a long series of bets you must be betting at odds greater than the true chance of winning your selection have. To do this however over the long term, you need to concentrate on each race individually and seek the value bet in that race. There is value to be had in every race. The key to it is understanding
where that value is. Many times a punter will screw up a losing betting slip and say “At least I had some value”.

There is absolutely NO relationship between value and prices. A 33/1 chance may be diabolical value yet a very short priced favorite may be supreme value. It does not follow that the bigger the price you take the better “value” you have. The value is sometimes clear but more often well hidden and it takes a trained eye to see that. Everyone has this “Foresight” on occasions, it is a game about opinions after all and nobody is always right or wrong. Value can be the most expensive word in racing if you can’t bet winner. The old cliche is that value is about betting a horse whose true chance is better than its price reflects.

That’s only a small part of it. You also have to make sure that you bet in the right way and in the right races as that is the only way you can keep strike rates high and protect a betting bank. You should continually strive to increase value in your bets. Once you have a selection you feel is value do not just take the first acceptable price that comes along. Seek to improve it by shopping around the various bookmakers or try and top the best bookmakers price by looking to the betting exchanges. Marginal improvements on odds on each bet you make can have a dramatic effect on long term profits.

5) Greed For Instant Wealth

Many punters seek the thrill of a life changing bet that will produce huge gains of instant wealth for a small outlay. Bookmakers play on your natural desire and go out of their way to encourage you to bet exotic multiple selection bets that can in one hit, turn a small stake into a large sum. Professionals however rarely bet in multiples. Most professionals bet singles and steer away from the multiple bets. Bookmakers relentlessly promote a host of multiple bets with exotic names such as Yankee, Lucky 15, and Goliath.

The reason they are heavily touted is the profit margin in the bookmaker’s favour increases the more selections you add to your multiple bet. Say you select any random 5/1 selection. If you bet this as a single the bookmaker may have a theoretical edge in his favor of 15%. Taking two such selections however and betting them in a win double, the bookmakers profit margin rises to about 30% ! Yes your win double can produce a much bigger win from the same stake however over the long term the bookmaker is eating away at your capital at a much faster rate.

It is a waste of time debating which type of multiple bet is ‘best’. Unless your prediction skills are supernatural or you are incredibly lucky, then betting in singles is more often the best option. You may say that many “Pros,” do bet in multiples in bets like The Scoop 6 or the Jackpot, but that’s only because they know there is plenty of “Dead” money in any given Pool and they are betting against people who don’t understand the dynamics of those types of bet. There are times you should bet in multiples but in truth they are few and far between.

You can’t approach this as a “Get Rich Quick ” scheme. It is a long slow process of serious and sustained profit and not a game for Get Rich Quick schemers. If you go Into any Betting shop, have a look at all the posters on the wall offering “special offers”, “enhanced terms ” and “bonus offers”. You will see they are all multiple bets. Bookmakers want you betting in multiples and it is easy to see why. They carve most profit from them. You never see a Bookmakers promotion offering extra’s on a win or each way single. Ask
yourself why.

6) Lack of Discipline

Lack of Discipline is the big hurdle for punters trying to turn a losing
hobby into a winning one. Bookmakers know that. That’s why in every
betting office you can bet on numbers, lotteries, ball games, racing from all over the globe with horses nobody has heard of before and even now computer animated, or as they call it, virtual racing. Bookmakers just believe that its a case of punters sitting all day betting on what ever is put in front of them and sadly they are right in many cases. They are simply thrill seeking and don’t care what they bet on, as long as they can bet.

There is no methodology at all and many betting office regulars are simply a bunch of headless chickens prepared to pay long term for the warming buzz of the occasional win. Even more experienced regular gamblers who are savvy enough to turn down bets that they know are stupid always let themselves down by continually bleeding their profits with a fun tenner here and a fun tenner there. It takes great discipline to NOT bet at times. It takes discipline to walk away from a horse when the price isn’t right. It takes discipline to say no to that small fun bet.

It takes discipline to keep your money in your pocket and deny yourself the emotional buzz of watching your runner. Punters come in all shapes and sizes. Even the shrewder punters who could win at the game, fall into the trap of lack of discipline of study. After a winning period they forget that what made them winners in the first place, was the effort they put in. They fall victim to
over confidence, laziness and indiscipline. Being a long term successful punter is like swimming against the tide. It takes an effort to stay still, even greater effort to move ahead and as soon as you relax or slack off you start to go backwards.

7) Emotion

Betting is a lonely game. Its also a highly skilled game. Emotion
undermines success in many ways. There is comfort in knowing that as a sheep when you are wrong it is not your fault as you were simply doing what everyone else was doing. With betting, the laws of market supply and demand, dictate that long term, the sheep will get fleeced. Emotion neutralises discipline and long proven successful practices. The result of any isolated race has little or no relation to races just before that or just after that. Races should be viewed in isolation from each other. We are all emotional in betting but the players at the top of the tree have this down to a fine art and can control those emotions.

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Lottery Predictions – Exposing the Whole Truth

This lottery summary will take a look at the worth of lottery techniques. No matter whether you Shooting fishing Game regularly Participate in lottery numbers or only dabble Using the odd ticket, undoubtedly an excellent lottery strategy would Enhance the sport to suit your needs. The lottery, when all is said and completed, is simply a sport of opportunity. The trick is to properly pick which lottery figures will be randomly selected at time with the attract.
 
 Quite a few players have developed a lottery system or approach for figuring out what those numbers will probably be. Some will utilize a lottery strategy that focuses on endeavoring to defeat the massive odds and get the large prize, or jackpot. Other lottery units will emphasize creating alternatives That will not always gain substantial prizes, but will far more constantly get anything.
 
 The lottery summary of tactics handles everything in the mathematical for the metaphysical, the common for the obscure. Any lottery strategy will slide into a number of of those three key classes; the scientific, the superstitious and also the metaphysical.
 
 The lottery summary of superstitious procedures:
 
 – Picking numbers away from a hat. The idea listed here is that pre-drawing the numbers from a “hat” will emulate what is going to materialize in the next lottery draw. Hence you could possibly correctly pick out the successful quantities.
 
 – Blind luck. Just decide on your figures at random or make use of a “quick pick” solution in the lotto terminal and let Girl luck do her thing.
 
 – Persistently actively playing precisely the same Fortunate numbers. This lottery system is based about the belief that the lucky figures will have to ultimately be drawn.
 
 – Under no circumstances Enjoy the exact same numbers, but usually combine it up. This is the variant in the blind luck system but involves record-preserving of numbers currently performed.
 
 – Asking Your kids for quantities. The belief listed here is usually that children are Fortunate (probably because of their innocence) and may choose Fortunate numbers that should acquire.
 
 The lottery summary of mystical tactics:
 
 – Use important dates. This lottery system is loosely based upon numerology as well as belief that dates which are important to you will have highly effective numbers contained in them. These dates may very well be birthdays on your own or your family members, anniversary dates, and many others.
 
 – Talk to a psychic or astrologer. The perception is that somebody who will foretell your long term can help you in observing your successful lottery figures.
 
 The lottery summary of scientific procedures:
 
 – Deciding upon only figures which were recently drawn. The idea at the rear of this lottery Examination is the fact that quantities will go on “sizzling streaks”. Which means the probability of a amount becoming drawn again improves for a period of time soon after it’s first been drawn.
 
 – Picking out only figures that have not been recently drawn. This lottery Examination is predicated on the speculation that the chances of a range staying drawn will boost with every time that it hasn’t been drawn.
 
 – Use a lottery wheel. Using this type of lottery system, the participant buys several tickets, and selects the figures on Just about every ticket in a method that they may Use a confirmed winner if the drawn quantities are inside of a particular range of numbers.
 
 – Analysis of past lottery draws to determine a craze or pattern. This lottery system would require knowledge consisting of profitable numbers in preceding draws. In such a case the greater documents of successful figures that you’ve got, the higher your Assessment is going to be. To get simple and powerful a pc computer software or spreadsheet is necessary to conduct the Examination and supply the final results.
 
 Whatever tactic or blend of techniques that you simply use, the primary issue is usually to Participate in the lottery similar to a activity and have entertaining with it. If you select a number of the much more elaborate and highly-priced procedures, you should Understand that you must in no way gamble more than you could pay for to get rid of. The lottery summary is the fact owning a strategy that you suspect in can make enjoying the lottery so a great deal more enjoyment.
 
 There are many lottery system sources out there on the internet these days. If you go buying 1, it is very encouraged that you just use a person that’s been made by any person which has Individually received a lottery various moments. At the very least you can know that they are sharing a lottery procedure that is tested to possess worked for them; and isn’t simply a theoretical tactic.

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Socio-Economic Impact of Gambling

There are many kinds of easily accessible online gambling sites and activities. Easy access to gambling is a potential disaster for a person with a compulsive gambling disorder or an inclination to having a problem with gambling. With an abundance of online casinos and betting sites, anyone with a gambling problem and an Internet connection is faced with temptation twenty-four hours a day.

Is compulsive gambling a real problem? Why can’t they just stop?

A compulsive gambler often wants to stop. After all, he is losing his money, his friends, ruining his family . . . But he can not stop. According to the Diagnostic and Statistical Manual of Mental Disorders (DSM) – the American handbook for mental health professionals, Compulsive Gambling is a mental disorder that requires treatment.

How do you know if someone a compulsive gambler?

Problem gambling is characterized by a difficulty to limit money and/or time spent on gambling activity which leads to harmful effects on the gambler himself as well as to others. Pathological gambling is now defined as persistent and recurrent maladaptive gambling behavior meeting at least five of the following criteria:

1. Preoccupation. He/She has frequent thoughts about gambling experiences.

2. Tolerance. He/She requires larger bets to get a “rush”.

3. Moody.. Restless and irritable when they try to stop gambling.

4. Escape. Gambles to “feel good” or get away from problems.

5. One more time. Trying to win back gambling losses by gambling.

6. Lying. Lies to hide Shooting fishing Game his/her gambling habit.

7. No control. He/She has unsuccessfully attempted to stop gambling.

8. Law breaking. He/She has broken the law to get money.

9. Risked relationships. Gambles despite risking an important relationship,.

10. Bailout. He/She turns to family or friends for financial help.

How Can you Stop Someone from Gambling on the Computer?

Open communication is the best way to approach a loved one with a suspected gambling problem. If the problem is that they are gambling online, you can do a lot to help them. First of all, get rid of the temptation. That does not have to mean getting rid of the family computer or canceling the Internet connection.

If your loved one admits to a problem and wants your help to overcome the problem, you can agree together to start by eliminating the easy access they have to gambling online. Simply by installing an effective web filter, you can easily block out gambling and betting websites from your PC.

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Compulsive Gamblers Offered Help on Gambling Sites?

There is a lot of information offered online about treatment to stop gambling, advice for gamblers that want to quit, gamblers anonymous, stop gambling forums, etc. Ironically, you will find many articles that offer advice to people who want to quit gambling on actual gambling and betting websites.

Unfortunately, this is nothing more than a cynical use of Internet marketing techniques to attract relevant traffic to gambling sites. The casinos know that if someone is addicted to gambling and he lands on their website, he is more likely Online Lottery to gamble on their site than other visitors. Further, when someone is looking for a solution to their gambling problem, they are weak and vulnerable. They are seeking help because they are desperate, but at the same time, all it might take for them to start gambling at that moment is a trigger – like landing on a site where they can gamble.

Don’t be fooled. It’s not that the gambling sites are interested in helping problem gamblers that end up there. It’s precisely the opposite – they are looking to attract people at their most vulnerable moment.  Here is how it works:

1. Internet gambling website owners understand how the Internet works. They also understand how the Internet is an irresistible temptation for problem gamblers. And once they get a problem gambler on their site, they know there is a good chance he will stay and play (and lose).

2. The Internet is probably the first place the average problem gambler seeks help for his problem. They conduct searches for “gamblers anonymous”, “treatment for problem gambling”, “help for gambling problem”, etc. Some may even be looking specifically to block gambling sites.  Even gambling filters are offered on many betting sites.  The very websites that created the problem — casinos, poker games, blackjack, bingo and numerous other forms of betting online — want to be there to welcome problem gamblers. So they supply the content that a compulsive gambler is searching for.

3. These sites don’t actually create  advice and tips for problem gamblers. They scrape articles from  databases and add deliver content created by others. It is sophisticated and it is unethical. But it is not illegal. Countless gamblers, who have made a decision to work towards recovery, are surprised to find themselves on yet another gambling site facing temptation.