As you’ll know by now I’ve been writing since New Year all about making your betting more successful and turning a profit from your punting. I would put some links up but there are so many now that I can’t fit them into this blog! Simply browse through the Betfan blog and you’ll find all the various articles on how we’ll be attempting that.
I hope you all had a good Cheltenham. VATR managed to find an 8/1 winner on the last day and combine that with a 6/1 winner at Fakenham it was a fantastic day for my subscribers! 140 points to the good, I appreciate they don’t happen everyday but over the last three years it’s another day that proves that if you hold on long enough you will see results that make a service profitable.
So onto this year’s series of e-mails and we’re looking at how to become a more successful punter. You should have come up with your selection processes/tipsters by now and be working through your bank sizes. We’ve covered how to calculate losing streaks and how to cover this within the bank and the maths behind it all.
I stated at the beginning of the year that we would spend two months on each specific subject as outlined below:
1. Selection Process/Tipsters/Systems
2. Bank size to cover all the above selection processes.
3. Percentage of the bank to be betting.
4. Losing runs and how you will deal with them on a mental level.
5. Winning streaks and how you’ll keep a level head and more importantly stick to your staking size.
6. The psychology of betting as a method of earning an income.
So you should be on section 2 now and working out how you’ll be managing your banks. This is something that took me a long time to get right if I’m honest. When I used to run for a professional outfit down in Brighton the guy that gave me the information to “run” on, he would always bang on about bank size and the importance of it. As the years passed and I kept being given the work of placing these bets I realised why so many people were being shunned and shoved out of the business.
They weren’t managing their cash flow properly.
You see depending on how you “run” (for anyone that doesn’t know what running means, it’s the job of putting bets on for people who know something that the bookies know and they don’t want anyone else to know that they know because the bookies know that they know!!) generally you would always need enough money to cover the bet you were asked to place and then as payment for receiving that bet you would then place your own money so that you too could profit.
Of course those bets didn’t always win so people would quit or if they did have a lot of money left over from another winner would go and live of that and the “client” would never see his dough.
Lack of money management would lead them to ruin and yet I managed to survive in the business for over 5 years. It was only when I worked it all out that I quit and went solo as I do today. I couldn’t have done it though without money management and the necessary bank to cover the inevitable downswings. This then highlights the importance of getting your bank right. Work out as instructed in previous articles what your strike rate is and calculate the bank that you need. Do all that and you’ll survive!
I’ll be back next week with advice on how to build that bank that you’ll need for when you turn pro next year!! and more ideas on how to make your betting more profitable.