Most people start off gambling with small stakes to add a bit of enjoyment to sporting events. As the adverts go, “sport’s more fun when you bet on it”. Most people stick at that level and enjoy the high’s when they win and can deal with the lows as the amounts are not life changing.
What is diversification? You’ve probably heard ‘putting all your eggs in one basket’. Diversification is the opposite – ‘have your eggs spread across multiple baskets’. You drop one basket and there are still plenty of baskets remaining. To think of it in the financial world, you would not put your entire share portfolio into one
Psychology is the key to successful betting. I’ll emphasis this again; Psychology is key. You can have the best strategy or system in the world, but if your mindset is not there you’ll soon find yourself turning winning months into losing months and small losses into bank breaking losses. There are numerous articles, and books
There are lots of views out there on how to come up with a successful betting strategy for finding winning bets. Some common examples below: Historical statistical analysis: analysing race or game data to come up with winning bets (e.g. betting horses ridden by a certain jockey at a certain course between certain odds = a
Let’s get this out the way early. If you’re not betting for value you’re never going to make long term profits….which is what most people are after. Keeping this in mind has really helped me turn my betting around. In simple terms, if the chance of a horse winning is 50% you should only back