Tips for successful gambling

[wasimbutt2007]

I used to have trouble staying disciplined whilst i gambled. I would either get carried away after a win or go on 'tilt' after a couple of losses.
The most important thing is organising and preparation. I now go into the bookies with a professional attitude. This helps me stay disciplined. By applying myself and following certain procedures, i am now turning over a healthy profit on a consisten basis although i do have the odd bad day. Nevertheless, here are my tips.

DO

have a betting bank

research bets thoroughly

be patient, the wins will come

record bets

treat gambling as an investment

review performance and profits/loss

set a daily target for profits

leave the bookies after target reached

have a set and organised staking plan

DONT

Chase losses

bet for the fun of it (this is a serious business)

back a team or horse because someone told you. Research their suggestion (although a little advice never hurts)

continually increase stakes after wins or losses

bet more than 5% of your bank one any one bet

do ridiculously large accumulators (unless you are feeling VERY LUCKY)

take all your betting bank with you when you gamble


I think i have laid out all the basics of the betting trade. If anyone needs helps or tips, then feel free to contact me (free of charge).
Or if anyone wants to say anything about my tips, then feel free to do so as well, I am always willing to learn of others.
Hope this has helped.

I would love some feedback

Thank you

[Inatimate1]

To be honest, I don't really agree with setting a target for daily profits if you are sticking to 5% of your betting bank per bet and if they are well researched, reaching above your target could indicate a "good day" for your research, and cutting off the betting because you've reached a certain level during the day isn't always the best option. I've had those days, where I wake up, find an extra £5 in my pocket, discovered that my favourite programme is on TV, gone out and the sun's been shining, been able to sit down on the train, and generally had one of those days where the luck goes your way, placed bets on my selections for the day, seen most of them win without cutting myself off and ending with a handsome profit for the day above my targeted level.
Then again I've had the opposite where I've missed my train, had to wait another half an hour in the rain for my train, its been packed and hard to breathe, and seen my first couple of selections lose, at that point its fair to realise luck wasn't going my way, and decided to stop betting for the day, this is where a cut-off point of loss is very important, as it is at this stage where generally I feel like my day is going to go terribly wrong.

A good example of this would be to outline my past weekend, on Friday I picked a few selections for Laying through my own research system, if I had used a cut-off profit plan I would stopped after the first 3 or 4, but as I was having a good day, I had found the exact part I wanted to fix my PSP for a cheap price, I decided that I would carry on until I hit a losing bet but sticking to my plan, as it turned out, all the selections went on to be winning bets, and then a couple of correct scores I chose to Lay also came in within the first 20 minutes and my day was good.
On Saturday however, my day was not so good, but with the cut-off I stopped before it went from bad to worse. I thought Orient would beat Leeds so I layed Leeds to win, and ultimately Leeds won, at this point I stopped, as it turned out, it would have gone totally pear shaped sticking to my plan. I had confidence in Stevenage, Real Madrid and Jankovic all winning, but they all went wrong, but luckily I had stopped.
Yesterday I woke up nice and early, found a PC game I had spent years looking for, and felt quite lucky, and after some research the confidence was in Cardiff, Man Utd not keeping a clean sheet, and Everton keeping a clean sheet. The Utd bet came in, so rather than stopping I decided to continue my luck, at 0-0 and HT in the Everton match I layed Barnsley, and all 3 were successful, I then decided that after looking into the MLB, that the White Sox were good value following a previous nights win, and thanks to some decent batting, and a couple of bad pitches, they strolled to victory.

I think that if the luck is with you, let it roll, but reset your cut-off loss limit to the portion of the highest balance you reach during the day, the idea of stopping when you have hit a couple of winners could at times be a bad move, and I prefer to adjust my cut-off loss point during the day accordingly. All of my bets are tabulated, I use the "Bet History" section of Betfair to see the areas where I don't have too much success, and tend increase my confidence levels before I bet in those areas accordingly. I do have my own set targets for the day, but I ultimately hope to exceed them on good runs as I know that I will have few bad days along the way where I won't reach the target, and I do this through a point system...

I found a great button on the old Calculator, known simply as "Ln", which is a numbers Natural Logarithm, and through some calculations (I used to like maths, and still have to use it every day in my uni course), I managed to work out that the natural Logarithm of your target balance take away the natural logarithm of your current balance all multiplied by a hundred gives you the number of "points" in terms of if you were to bet @ 1.01 in which you would reach your target number.

i.e. If you had a starting balance of £100, and you wanted to reach £1000, then it would take 203.26 points to reach the target. Which would mean that those "let's bet on a cert" people would need to back 204 consecutive 1.01 shots to reach £1000 from a £100 starting bank, using all their bank with each bet.

I adapt on this by multiplying the number by a further ten, and then setting myself a pretty unrealistic target, i.e. to make the points in a month, and actually aim to reach it in 6 months instead to account for bad days along the way. The simple way to do this is to say.... "Well I have £100, in a "month" I want to reach £1000" using my points target of 2032.6 points, I would have to make 76.75 points per day. Which would be a winning 8/5 bet using a 5% staking system, or about two winning 4/5 bets, four winning 2/5 bets, etc etc.
By aiming to achieve over this and setting a cut off loss from the day's highest balance level I can then realistically aim to achieve the target in 6 months.

The above is just an example of how it may work, in reality I have much different targets, and I won't enclose where I stand or what I am aiming for in monetary terms, but that one little button on the calculator has really given me a better sense of how to bet in the long run, and what to aim for. After a successful last couple of days where I have achieved over my personal target on all 3 days, I have actually taken an extra day off my overall aim, i.e. instead of "aiming" for the target in say 25 days, I am now using calculations for 24 days, in the hope that it will take a couple of days off the actual time when I finish the challenge.
Ultimately there probably won't be much change, but it gives me an idea as to how much research I should do, and what type of value I should be looking for.


I hope this has helped someone, my arms are aching
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Top Football Tipster June 2006
7th Overall In The WC 2006 Competition