Betting Discipline

Betting Discipline

Only a tiny fraction of gamblers are truly successful.

You just have to look at how many bookies there are queuing up to take your money to see that 

This means us punters must try and gain every edge we can, and for me betting discipline must be the single most important factor.

Although your ability to pick a winning bet/trade is obviously paramount.

Discipline in itself seems like a simple thing but for the vast majority of people it's not something that comes to them naturally, 

It is something that has to be worked at, and there are of course some people to whom it will never come, people who will be prone to gambling addiction.

If you struggle please read the betting school article on how to be sensible and gamble responsibly.

Dreaming Of Big Wins

The trouble is that we all love to dream about winning a life-changing sum of money and the stories we hear about your average Joe winning thousands of pounds from a small stake don't really do anything to dampen our enthusiasm. 

The fact is though that most of these sizeable wins we hear about have come from big multiple bets at long odds while thousands of other similar bets fail each and every day for people the bookies often refer to as 'mug punters'. 

Accepting that betting is not a get rich quick gimmick is the first major step as it will only help in decreasing the chance of making an unsound decision.

Once you start being realistic with yourself it helps to have some kind of structure in place to keep you on track and the common warning of 'only bet with money you can afford to lose' is wise advice. 

If you start gambling with next week's rent money for example then straightaway it puts pressure on you to succeed and pressure will only lead to irrational behaviour.

I recommend you set up a betting bank independent from your personal finances, taking away the reliance factor.

Having assembled a sum of money for your betting bank you should ideally decide upon a staking plan which allows you to set yourself some boundaries. 

The most common practice is to set yourself a liability limit based on a percentage of your betting bank. 

Keep Records And Have A Plan

For example, you may decide to risk no more than 5% of your bank per bet or trade; this not only helps take away a large part of the decision making in the heat of the moment but also helps protect your bank from big losses. 

There is plenty of information about plans on the web and you should try and work towards something that suits your betting style.

The same plan isn't going to suit someone who backs favourites as well as it will for say someone who backs outsiders.

Setting yourself a target can be helpful in achieving success but it will only work if it is a sensible and realistic one. 

Don't for example book a holiday and plan to pay it off with your winnings which brings pressure back into your gambling, do the reverse and say if I increase my betting bank by X amount, I can treat myself to a nice holiday or MP3 player etc. 

And be patient about it. 

Just because there is a football match on most days of the week, it doesn't mean you need to bet everyday.

Having the discipline to wait a week or more for the right winning bet to come along is much better than risking a loss on selections you're less knowledgeable on.

After you have got yourself a solid platform to work from, the hardest part to master is the mental side of things and keeping your emotions in check.

Few things in life make us feel quite as good about ourselves as when we are winning but this can lead to overconfidence, especially if you win a few times in a row as it's more likely to cloud judgement and encourage greater risk. 

The same can be said about losing, we always want to get over a loss and many gamblers fail by rushing into chasing these losses.

Being armed with a plan gives you that reassurance to maintain discipline.

It's all too easy to hold onto that winning feeling and overlook losses and in that respect, it may also be prudent to record your bets for a brutally honest assessment of your betting activities thus giving you a clearer idea of what needs to change.

Essentially, if you trust your ability to pick winners but find yourself betting recklessly then I would urge you to try and change otherwise give up and save yourself a few quid. 

The path to being a disciplined gambler is not an easy one.

I have been there myself in the early days, chasing losses and putting my entire betting bank on a single selection but knowing I will never again get that deep feeling of loss in the pit of my stomach is what drives me on in a disciplined approach and it can work for you too.

If you have any questions or suggestions, please feel free to post a response, and as a reminder do not forget the betting school article on  how to be sensible and gamble responsibly.