In this article we discuss the important of patience within betting and look at some specific factors that you should be considering in order to improve your chances of being a successful bettor.
The Importance Of Patience In Betting
Patience is a virtue. A quote applicable to every aspect of life but none probably more so than betting. Even recreational bettors need to stick to a level of discipline that doesn’t see them stray from their original money management plan.
It is particularly difficult in an age where a bet can be placed at the click of a button, especially during a boom time of constant special offers and price boosts.
With that in mind, if you want more consistent profits, then there are certain factors you need to be considering.
Do Your Research
The actual placing of the bet is the smallest part of the process, with the majority of the time being spent in the research stage beforehand.
There are endless amount of resources available over the internet to help you with your betting, so use them to your advantage. While these resources are here to aid us, it is important they don’t influence or sway you from any original decisions as this would suggest you have no confidence in your current way of doing things.
If you’ve done your research and are still struggling to find an angle, then don’t just have a bet for the sake of it. Normally if you've had to look too hard for an opportunity, then it probably wasn’t there in the first place.
While there are now an extensive range of markets to bet on, there is also an increasing amount of bookmakers for us to bet with. That can only be advantageous to customers, with firms competing against each other trying to lay an industry best price to gain your custom. Before placing a bet, finding the best price maximises your advantage, so why not take the time to do so? Whether it be the most recreational of punters with a small stake or the most professional of gamblers with a larger one, we should all be looking to increase our returns every time we place a bet as this will lead to more profit.
The Reward Of Cash Out Must Outweigh The Risk
Cash out was created by the bookmakers, therefore it is obviously something that benefits them. So, is cash out worth it?
There are occasions where cash out will aid a punter but in the long run it is the bookmakers who will come out on top from it. When it comes to cashing out, you have to be smart and incredibly controlled.
An example for future use, let's imagine there are 5 minutes left plus stoppage time in the final leg of your 5/1 treble. You staked £50 and the bookies are offering a cash out of £273 with your team winning 1-0 despite being under serious pressure. In this situation the cash out is the more attractive proposition and therefore outweighs the risk.
Stay Within Your Restraints
This is one of many common betting mistakes. Before depositing a bankroll, it is vital to have expectations about what you want from your betting. Sticking to these ideas and creating a money management plan can provide you with a foundation to successful betting.
A staking strategy is a not only a great way of managing your payroll but it can also be beneficial when you come to evaluate your bets. Using a scale of 1-5 points depending on your confidence of the bet, will show how you felt about the bet and whether that correlates with the work you did, while the scale also allows for adjustment with regards to your payroll.
There's Always Tomorrow
Sure, we all dream of landing a bet big enough to send us into an early retirement. But long term success is the main aim and staying disciplined is the most pivotal part of it.
Losing streaks happen to even the most successful bettors and there are too many external factors for them not to. But the key to sensible betting is avoiding revenge betting. Losing money often leads to an urge to get it back, but those thoughts often lead to reckless and uneducated betting. In situations like these, it is important to remember that not only will there be better betting opportunities coming up, but also sometimes the best bet can be not to bet. Do you really know anything about the Copa Libertadores fixture you’re scouring the markets on because you’ve just lost a bet five minutes ago?
Avoid betting for the sake of it. Some sporting events will naturally attract more betting activity but that doesn’t mean you should feel the need to be involved, especially if you are going to go in blind. Sometimes it is best to stick to what you know and what you are comfortable with.
The key to a good bet is good solid work prior to placing it and confidence in the system you use and your own judgement.
It is imperative though, that you don’t allow the confidence to turn into arrogance which could see you breaking your staking strategy and putting in less work than you normally do.
Stressing during the race or constantly checking the match centre will bear no influence on the actual result. So why strain?
If your bet loses, then obviously you’re not going to be happy. That really is just human nature. Yet, you’ve done your research and found the value.
If you continue to find the edge over the bookmakers, you’ll know that losses are part of long term success. However, again, you have to realise with sports betting that there are endless opportunities ahead.
Take Advantage Of Special Offers…But Only Those That Suit You
Bookmakers will fight to offer you the best new customer betting offers and enhanced prices to get more publicity and custom. However, just because one company is now offering, for example, odds of 5/2 instead of 2/1, that doesn’t mean you should get involved just because it is now perceived as ‘value’.
Firstly, there may already be companies offering 5/2 in the first place and secondly, do you even have any interest on the bet that is boosted?
Use special offers to your advantage. For example, if you’ve done your research and you’re going to back ‘Horse A' at, for example, 11/8, but see it has been boosted to 13/8, then it absolutely makes sense to take advantage of the enhanced price.
Successful betting all comes down to you and your actions.
Patience and discipline are the foundations of a winning account. Patience in betting equates to smart gambling which in turn leads to success. None of us want to lose, especially to the bookies.
So stay smart, continue to work hard, avoid greediness and never bet in retaliation. There’s definitely a better bet, whether it be tomorrow or in two weeks’ time, you just may not have found it yet.
And remember, always gamble responsibly.