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Betting is serious business if you come to think about it. Yes, it’s fun and entertaining and a sure way to kill off time, but at the end of the day there is money involved. And when there’s money, you need to know what you’re doing. You could find the fun element of betting to quickly fade away if you start losing money left and right. If you’re an avid punter, you’ll find that you invest much time –– and money most probably –– in betting, so you might as well do it right. These are some things you should be looking out for if you’re a heavy punter, and for beginners these tips might help as well.
Discipline
You might read this and ask yourself how is discipline involved in betting? Well, betting is like any other thing in life; if you want to be good at it, you need to discipline yourself. Whether you’re betting on slots, sports, horses, or races, you have to know what you’re betting, and know it well. By knowing it means you actually have a clue what the sports or the race is about, not just betting because you found some cool odds. This is probably the fastest way to lose your money; ignorance is a sin you just can’t afford when it comes to betting your hard earned money. Also, don’t go chasing after the losses and making things worse; live to fight another day and learn when to walk away.
Know your strengths
Randomness is never a good thing when it comes to betting. You can’t just go and bet on whatever they’ve got going. You have to have a specialty, something you’re actually good at. You need to zoom in on that specialty and refine it as much as you can. If it’s poker, for example, then you need to play as much as you can and watch videos of professionals. It takes commitment to get better at something, and being good at the game you’re betting money on is something you definitely want.
Set a budget
Whether you’re a beginner or a more experienced punter, it’s always a good idea to start the day with a reasonable amount. You need just enough to not keep you holding back and second guessing every minute of the game, because that would definitely hinder your chances. Let’s say you set your maximum budget for the day at 500$. Win or lose, you don’t get to spend more than that from the initial sum you had before you started betting. It’s that simple.
The bookie
You can’t stress the importance of a good bookie. Some people will bet with more than one bookie and others just one. Neither choices are best; it all comes down to your abilities and needs. But you should know there are thousands of bookies out there, so how should you choose the right one? You can’t just go bet with a guy just because he’s an old acquaintance. You need to look for legitimate bookies who are licensed and registered with a gambling commission. You need to also learn the services this bookie provided. Does he give special offers? Is there a sign-up bonus? Does he oversell his odds so that he could make winnings off his customer’s backs? There are plenty of questions you need to ask yourself before going to work with a bookie.
Look for long term results
Let’s be honest; no one likes a loser. We all hate losing and anything associated with the word. This is why many punters look for short term results and success. This is a rookie mistake. Experienced punters know that successful betting is all about long-term results. It doesn’t matter if you win a bet today or lose one tomorrow. What matters is how consistent are you? Do you constantly make good bets? It’s all about the end result. Betting is really playing the long game.
Know yourself
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As we mentioned earlier, discipline is quite important. Part of that is knowing your own psychology and mindset. Betting is a mental game before anything else. True, emotion plays a huge part and it’s why you even bet, but you have to be able to make objective, logic-driven decisions if you want to be a successful punter. Understanding your own self also helps you to know when to back off. Sometimes you find yourself in a losing streak and it can be easy to get lost in one of those and just further your losses. You must have the mental fortitude and stamina to recognize when you’re just betting out of pride in a losing situation. The saying ‘pride comes before the fall’ is pretty accurate when it comes to gambling.
Online betting
You need to get acquainted with and keep an eye for online gambling for so many reasons. But first, what is online gambling? Well, it’s basically an online casino on which you place your bets as if you’re in an actual one. The cool thing about online casinos is they save you the time and money needed to go to an actual one. You get all the games you like while chilling at your home. There are plenty of online websites that offer hundreds of online casino games you can bet on, and they’re quite easily accessible. All you have to do is log into the website or create a new account. The livemobile888 register gives you access to all their available games and even some live casino ones. By registering, you get to enjoy these games and come back whenever you want. Almost all online casinos have similar processes.
Why is it important to get involved with online gambling? Well, for starters, it’s not as flashy as a real life casino. Yes, it has all the excitement and entertainment of one, but still, being in an actual casino surrounded by people and all that jazz has a different effect. It’s much easier to quit an online game than it is to quit a real life casino experience. You can just choose you turn off your mobile and walk away. But being in a casino, the temptation is much more powerful and you might be easily seduced to sit down and finish playing.
Learning curve
Knowledge and experience are quintessential when it comes to betting. You have to read tips and watch online videos on how to become a better bettor. Attend seminars and always ask questions. Don’t be afraid to learn because it can be the difference between you making or losing a lot of money. Listen to professionals talking on punting and incorporate their advice into your techniques. Betting is just like anything; it requires practice and experience to excel.
Keeping up with all related to whatever it is you’re betting on is of the utmost importance. If you want to consider yourself a professional punter, knowledge is not a luxury; it’s a must. Say you’re into sports betting. That means you have to be all knowing when it comes to the specific sport you bet on. You need to watch the matches, read reports and analyses of the games, keep track of the transfer market in case it affects a player’s head game, and much more. Being well aware of all aspects pertaining to those sports means you’re going to have better luck, nay skill, in predicting the outcome of the event. And predicting the outcome means you can bet on it and make a lot of money. You’ll find that sports betting, particularly relies most of all on how well the guy who’s betting knows the game. You might strike gold once by betting on a sport you don’t know much about, but be very sure it won’t happen again unless you acquaint yourself with what it is that’s going on.
Quit while you’re ahead
While it’s easy to quit when things aren’t going your way, it’s much more difficult being able to quit when thing are working out so well. You get the feeling that you could be a millionaire that night, but sadly it doesn’t work that way. Just because you’re on a lucky streak doesn’t mean it’ll last. In fact, more often than not, it won’t. This is why it’s important to quit while you’re ahead, because greed can cause some serious damage when it comes to gambling. It works to have a reasonable goal before starting the betting, and once you reach that goal, you should be calling it a night and leaving.
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Set a loss ceiling
It stands to reason that just as you set a win limit, after which you’d quit, you set a loss limit as well. An unwavering loss limit will prevent you from going over the budget, and possibly spending money you don’t have. Set a loss limit at a range you can afford. For instance, let’s say your limit is 10% of your overall bankroll. So, whenever you reach that threshold, you should quit immediately to keep your winnings and prevent any further losses.
Don’t overbet
This is a mistake many punters make. You often find things are going your way so you start getting greedy and betting higher numbers. This is not the correct approach you should be following. Professional punters bet in small increments –– say 1–5% of the total bankroll. And there is a reason for that. You won’t be able to make any money if you spend your money on a losing bet because you decided to go all in or bet half your bankroll. Play it safe and be wise in how much money you’re willing to spend.
Create a dedicated account for gambling
This is a little trick that works like a charm. You should have a separate account for your betting money, far from any personal savings. This way you get to bet freely without having to worry about dipping into your savings or emptying the children tuition fund. Always use that account and never your personal one. You’ll find that this will help you control your finances much better than anything you could ever do.
Risks
Sure, it’s always wise to play it safe. But no one got rich by betting low all the time. You need a bold move every now and then. You should be able to identify the appropriate time for risk taking, and seize it. Weigh all possible outcomes before taking a risk, and if the reward seems worth it, go for it. Still, this doesn’t mean to act rashly or irresponsibly. It just means you can muster up the courage at the right time to take a risk that you could stand to gain much from.
Learn to accept losing
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One thing that always gets to many punters is losing. Everyone dreams of that big jackpot, but realistically and statistically speaking, you won’t be able to nail that easily. Losing is a part of the game, and it’s one you need to get accustomed to. Sometimes things will go sour and you’ll end up losing money. The question is, how will you handle that? If you’re serious about being a professional punter and it’s not just fun and games for you, you’ll have to deal with losses. Don’t let that get to your confidence, because eventually everyone loses at one point or another. The difference between those who make it and those who don’t is that the former know how to deal with losses and move on.
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Betting is fun and everything, but if it were easy, everyone would do it. It requires patience and perseverance to make it as a professional punter. And most of all it requires so much discipline. It takes self-control to quit while you’re winning and things are going your way. It takes self-control to not get consumed by betting, and it’s not easy to look back and decide you need to take some time off. In the end, if you do all the right things and do them consistently, chances are you’re going to make some money and have a lot of fun doing it.