Gambling is a huge industry that continues to thrive even during economic recessions. This is because most gamblers don’t follow simple rules and lack discipline. They also struggle to control their emotions. Although it is not an easy task, following these simple guidelines can help you transform yourself from a loser who funds the bookmakers to a successful gambler.
1: Create a separate, financially sound betting bank
Gambling can be a fun pastime that can lead to huge debts and losses. The first rule of gambling is to only bet what you can afford. You can immediately relieve stress by setting aside a small amount that isn’t likely to be lost if you lose it. This bank can be treated in the same way as money that you have set aside for personal or social purposes a9play online. However, there may be a return.
This step also requires you to convert your bank into betting points. For example, if your bank had 500 points, you could create 500 points. 1 point would be on bronze confidence bets; 3 on silver; 5 on gold. You may also prefer to own a percentage. You can do both, provided you have a well-organized, rational, and managed banking structure. If you fail for a prolonged period, your bank will be insolvent.
This step is the final. You must define what success looks like. It is unlikely that a 500-bet bank will grow to a million dollars overnight. Realistic goals and realistic goals are essential.
2: Keep records
You must be efficient and controlled if you want to take gambling seriously. You must keep detailed records of all bets you place. Simple spreadsheets will suffice. Excel is ideal for this kind of activity. It offers a lot of ways to break down your data so you can see where you’re going wrong. While you can make headings and columns however you like, it is recommended that you at least have the following:
- Date – The date on which the bet was placed
- Selection – What are you betting on?
- Amount – How much are you betting
- Odds – The odds that you were given
- Categorization – The type of bet, such as a system name or categorised description
- Profit/Loss – Your overall return
- Notes for future analysis – Comments
3 – Study
If you don’t have the opportunity to get to know someone inside, then relying solely on what they say or what they tell you is just guessing. You must have justification for every bet you place in your spreadsheet. If you are unable to study the statistics/conditions and categorically know you are placing a bet for the right reasons, you should not be betting in the first place.
If your bets don’t reflect a thorough analysis of the event, it is unacceptable and can lead to failure. It is essential to study the event thoroughly. This means that you must find appropriate materials, understand the results, and allow enough time to fully grasp your findings. It is clear that if you don’t study, you will be guessing and losing long-term.
4: Know your odds to get the value
Whatever your gambling choice, it must have a price that you find worthwhile. It is similar to shopping: you know what you want and how much it is worth. If the item isn’t as valuable as you think it should, you won’t buy it. This is the same as when you go shopping. If you don’t get what you want, you won’t buy it. Ever!
It is a skill in and of itself, but it is something you need to master if you want to succeed at gambling. The rule is simple: if you don’t know whether the odds are favorable or not, how can you add them to your betting spreadsheet?
5: Hunt for the best odds
You can call it penny-pinching, but the difference in odds between 1/2 and 9 is significant for a gambler. You can now compare prices from many different sources. If you want to be successful at gambling, it will not matter if your only option is to back with the same company or the local betting shop. Once you have chosen a bet and seen the odds, it is time to take the extra effort to find the best price.
You should also check out online and offline bookmakers. If you need to, it is not a problem opening multiple accounts with bookmakers. Many of them will offer free bets and help you fund your betting account.
6: Trust your study
Although it is natural to question ourselves, if you’ve followed rule #3 (study), then you can be very confident that your betting selections are sound and justifiable. You will be tempted to doubt yourself, but if you’ve done your research correctly, then they should not bother you. Your study did not fail because the newspaper tipster discounted your selections chances, or your odds were higher than you expected. It is in these situations that you will be most successful. You will be successful at gambling long-term, while the majority of people will lose.