Almost all horse betting systems are sold to gamblers. It stands to reason, doesn’t it? I mean, why is a non-gambler going to be interested in a way to win money by tatal bet on horse racing? But therein lies the problem. Gamblers, in the truest sense of the word, are the very last people who should be given a systematic method to back horses. Gamblers, well, they gamble. And they are lacking in the characteristics essential for profiting from horse betting systems and strategies.
What I am trying to say is that there are gamblers, and then there are punters who speculate on the betting markets. Gamblers are fairly haphazard in how they choose which horses to back. A shrewd punter will do some research before risking his money. Don’t get me wrong, gambling is fine by me. It is entertainment. But a gambler should, and probably does not, expect to make a profit from his betting activities. Hopefully he sees betting as an enjoyable way to pass the time, and is prepared to pay for the fun.
#1. Discipline – this is one of the most important traits of a pro punter. By their very nature all horse betting systems have rules, and you will need discipline to stick to these rules rigidly and without fail. If your system suggests ‘no bet’ on this race, you have to put your money away, and leave the race alone. Just watch.
#2. Methodical – it is important to act businesslike when betting for profit. Apply processes and keep accurate records, just like running a business. Treat your betting as if it were your own enterprise, and you are more likely to see a return on your time invested.
#3. Perseverance – this is where the average punter falls down every time. Horse betting systems will never give you a straight line return. Your profit curve will go up, then take a turn for the worse, before climbing upwards once more. You will need the fortitude of mind to cope with losing runs, confident that your strategy has a positive expectancy overall.
#4. Unemotional – gamblers are emotional. Professional punters remove emotion from their betting. Again I say there is nothing wrong with getting emotional about horse racing. It is a thrilling sport, and what is not to get emotional about? But remember, if your ultimate aim is to profit from betting, you need to put emotion aside when making financial decisions.
#5. Forward thinking – you should not be judging horse betting systems on the basis of a small sample of results. One day, a week, even a month, it will generally not be enough to form a concrete conclusion about how a method performs. As a rule of thumb you should collect three hundred individual results before analyzing profitability.
#6. Prudence – it’s the old adage, only bet with money you can afford to lose. This is your business. You need to invest in your business. But you have to prepare for the worst, and that your business could fail. So set aside a betting bank, an investment fund if you like, that you are willing to work hard for, but ultimately you could lose.
#7. Self-Restraint – a typical gambler will have very little self-restraint. A losing run can be demoralizing, whereas a string of winning bets can produce feelings of elation. Both scenarios can lead to judgment being affected if not controlled. Never be tempted to double up to recoup losses. Equally you should never be seduced into thinking you have found the Holy Grail of betting and start staking money you cannot afford to lose.
I haven’t written this article with the intention of putting you off betting. In fact, quite the opposite. But I want to stress that if you are aware of the mistakes most punters have made, including myself on many occasions, you will find avoiding them that much easier. I constantly try to adopt all the above, and as a result I do pretty well with several horse betting systems I have developed for myself.