In this article I will cover what I believe, as a professional gambler, to be the most important factors that will contribute to your success. To me, these are the most important weapons at your disposal. So, in no particular order, here are my Golden rules:
One of the most powerful weapons we hold is choice. The bookmakers and exchanges are committed to offering prices on virtually every single sporting event, but there are undoubtedly Horse racing frames, Football and Tennis matches etc that are more “Bookie Friendly” than others. The professionals will keep their powder dry until the right conditions emerge! It is essential to weed out the bets that favour the bookie (Start with ANYTHING advertised on great big posters at the bookies, or in the media adverts!) and only bet when we have value on our side. It is essential to understand and accept that we are not going to win all the time, but we are in this to survive over the longer term. This is what following the mantra of “value” will enable us to do link nhà cái.
Leading on from choice, is the virtue of patience. One of the biggest problems the novice professional will face in their keenness to make money is forcing bets when they should not. This is a surefire way to enter a spiral of losing bets that can rapidly run out of control. This is why I consider patience as a separate and essential element from choice. It can be frustrating when the opportunities seem few and far between, but you must resist the temptation to bet for the sake of it . If you do you are “gambling” and throwing away the advantage you have over the bookies or fellow Betfair punters.
3. Bank Management
A business-like approach to bank management is always employed by the professionals. You must always be aware of how much of your bank you should be risking in any given scenario, and not be tempted to deviate from what you know is statistically correct. As with all businesses there are running expenses, and you must get into the habit of viewing losses, payments to valued services etc as the essential expenses needed to run your business effectively.
4. Portfolio Approach
Every professional I know operates a portfolio of betting methods designed to compliment and support each other. The nature of the game means that even proven systems over time will have winning and losing streaks. A diverse portfolio ensures that the likelihood of a system going through a losing streak is balanced by the likelihood of another system experiencing a winning streak. As long as the systems used are proven over time, the end result will always be an increasing bank.
5. Record Keeping
Professional gambling is a business and should be run as such. All professionals keep records/spreadsheets of the bets they make and are continually tracking the performance of their methods to highlight any areas of concern in performance. This helps to quickly identify underpreforming systems or track the progress of new additions. It is essential to record ALL wins and loses, don’t find excuses to exclude bets, absolutely everything must be recorded, how else are you going to accurately track your profitability?
6. Limiting Losses
This is one of the hardest rules to stick too, but probably the most important. Nobody likes to lose, but the key to professional gambling, in my mind, is how you handle the losses. This was the hardest area I found to crack, but with a few psychological tricks, this can be properly controlled. As long as a method is proven over time, winning is easy, but restricting losses to the acceptable levels will be the key to success. Your losses need to be accepted, which is where the combination of all the factors I have discussed will start to help you out. If you understand and apply the concept of value to your betting, and have researched, tracked and recorded your betting activity correctly, simply looking back at your past results and upward trend in profits will help you accept these losses.
There is also a practical side that must be addressed. In my e-book I cover my own thoughts on internet access, mobile betting, contingencies in the event of system failures, the use of betting bots and many other technical/practical considerations. With the best will in the world, factors outside your control can conspire against you, and though to a certain extent we can again justify them as business expenses, anything we can do to mitigate the effect will be welcome.
8. Keep Focused
It is essential that you stay focused and keep a clear head when you are working, never bet when you are not up to it, take a “sick day” when you need to, and never, Never, NEVER bet when you are under the influence of anything! Don’t forget to take days off too!
If you would like to know more about the areas discussed in this article, I have expanded on these themes, as well as revealing my exact portfolio in poker.