To formulate a solution, the first step is to identify the problem.

These are some areas where punters frequently make mistakes in betting. These views are based on years of personal experience and communication with both successful and unsuccessful punters.

Bet188 the hopes of speeding up your learning curve to successful betting, I am trying to highlight these areas of failure.

These thoughts may help you avoid many of the same mistakes others have made in the past.

1) You do not use betting banks

Gamblers often fail to realize that the best way to make a long-term profit from horse racing is to keep money aside from your main financial accounts to bet on horses. No matter what system or method you use, no matter who you follow or subscribe to, or how your bets are calculated you will benefit from a “Betting bank” that offers many benefits that will help you. It must be separate from your personal finances and protected from any threats. This can remove a lot emotion from the decision-making process. All punters are at risk from emotion. Your individual financial situation and available capital will determine the size of your betting account.

Perhaps an analogy for the world of shares is that no financial advisor worthy his salt would recommend you put all your capital in the stock market. Most punters don’t use any type of savings bank. They either gamble with whatever money is available to them at the end, or they place stakes that are too high for their safety. Professional punters will invest only what they can afford and then make the most of that capital. You can now move on to the next cause of failure with a fixed amount of capital.

2) Failing to stake correctly

You should consider your betting bank to be capped. There is no limit to the amount of money you can dip into. There are inherent risks to betting by its very nature. There are periods of low strike rates, long losing runs, and other risks associated with betting. You should adapt your betting bank and stakes to the specific method you use. By having enough units in your betting bank, you can prepare for a worst-than-average sequence of losers. Methodical staking, in addition to the mathematical advantage can help to overcome emotional reactions to unusually positive or negative results. As an example, take the Pricewise column of the racing post.

If you were able to keep the prices attained, it would have made a decent profit over time. However, this period would have seen up to 40 consecutive losses for followers. Despite the long-term profit, I believe that the majority of Pricewise fans would have lost their loyalty due to insufficient points accumulation or emotional reactions to losing runs. Since long, we have established a strike rate of 35% for our Best Bet selections. This is in addition to an average S.P. Each winning bet is worth more than 5/2

As long as there haven’t been any losses, we feel confident in our ability to protect client banks. The strike rate and odds have been high enough to guarantee long-term steady growth of your betting profits. This is the key to winning more money. You must manage your accounts so that they are as safe as possible from any potential risk.

3) Chasing Losses

Although it may seem like a simple way to make a profit, the truth is that this is a fool’s game. It will not work statistically unless you have a level stakes profit. The ill-informed who don’t want to invest the time to find value in their bets should not chase losses. Every race must be priced up by bookmakers. The advantage for punters is that they don’t need to wager in all races. They can choose the races that they are interested in.

You can lose your advantage if you try to chase your losses and place bets in races you shouldn’t be. This is why you are betting in the wrong way. Many punters will adjust their stakes after the last race.
You can either “chase” your losses or “play up” your winnings. It’s not a coincidence that the
Bookmakers ensure that the last race of each day is often a handicap, or one the most difficult races on that day. The next day will bring more racing.

Waiting for opportunities is the key to winning. Only bet when you are certain that you have favorable circumstances. As there is no “Last Race”, you must not change your strategy or divert from sensible staking.

4) Inadequate Value Appreciation

To be successful long-term, you must appreciate the “value” of a bet.
You must place bets at odds higher than your chance of winning to make a profit on a long-term series of bets. You can do this over the long-term, however, by focusing on each race and looking for the value bet. Every race has value. Understanding is the key.
That is where the value is. A lot of times, a punter will lose a betting slip and then say “Atleast I had some value”.

There is no relationship between price and value. While a 33/1 chance might be a terrible value, a short-priced favorite could be a great value. The bigger your price, the more “value” you will have. Sometimes the value is obvious, but it’s often hidden. It takes a trained eye and a keen eye to see this. Everybody has “Foresight”, but it’s not always obvious. It is a game of opinions, and no one is right or wrong. If you are unable to bet on a winner, value can be the most expensive word of racing. Value is betting on a horse with a better chance than the price.

This is only part of the equation. It is also important to bet correctly and in the right races. This will ensure that strike rates are high and that your betting bank stays safe. Your bets should always increase in value. You should never settle for the lowest price. You can improve your selection by shopping at different bookmakers. Or, you can try to beat the best price offered by bookmakers by going to betting exchanges. Marginal gains in odds for each bet can have a dramatic impact on your long-term profits.

5) Greed For Instant Wealth

Many punters want the thrill of a huge gain and instant wealth. Bookmakers will encourage you to place exotic multiple selection bets. They can, in just one hit, transform a small stake into an enormous amount. However, professionals rarely place multiple bets. Professionals prefer to bet on singles and avoid multiple bets. Bookmakers promote multiple bets with exotic names like Yankee, Lucky 15, or Goliath.

They are highly regarded because the margin in favor of the bookmaker increases the more selections that you add to your multiple wager. Let’s say you choose any random 5/1 selection. The theoretical advantage of the bookmaker if you only bet on this one selection is 15%. If you take two of these selections and bet them in a win twice, your bookmaker’s profit margin increases to around 30%! While a win double can result in a larger win with the same stake, the bookmaker will eat away at your capital much faster over the long-term.

Deliberating about which type of multiple betting is “best” is a waste. If you have exceptional prediction skills or are extremely lucky, betting in singles is usually the best choice. Although you may think that “Pros” bet in multiples on bets such as The Scoop 6 and the Jackpot, this is only because they know that there is plenty “Dead”, money in each Pool and that they are betting against people who don’t understand those dynamics. While there are occasions when you should place multiple bets, they are rare.

This is not a “Get Rich Quick” scheme. This is a slow, steady process of sustained and serious profit. It’s not for those who want to get rich quick. Look at the signs on every wall in any Betting shop offering “special offers”, enhanced terms, and bonuses. They all offer multiple bets, as you will see. It is clear why bookmakers want you to bet in multiples. They make the most from them. Bookmakers promotions offer no extras for wins or singles. Ask
Ask yourself why.

6) A lack of discipline

For punters who want to make a winning bet, the biggest obstacle is lack of discipline
Turn your hobby into a winning business. That’s what bookmakers know. This is why every bookmaker knows it.
You can place bets on numbers, lotteries and racing, from all over the world, with horses that nobody has ever heard of, or virtual racing as it is called. The bookmakers believe that punters will be sitting around all day, betting on whatever is presented to them. Unfortunately, they are often right. They simply want thrill and won’t care about what they lose.

There is no method and many regulars at the betting office are just a bunch of chickens who will pay long-term for the warm buzz of the occasional win. Regular gamblers who have the ability to reject bets they don’t understand will often lose their money by continuing to bleed their profits with a fun penny here and there. Sometimes it takes great discipline not to bet. When the price is not right, it takes discipline to walk off a horse. It takes discipline and self-control to say no to a small, fun bet.

You have to be disciplined in order to keep your money in the bank and not let yourself get swept up in the excitement of watching your runner run. There are many types of punters. Even the most skilled punters can fall prey to the trap of not being disciplined in their studies. They forget that the only thing that made them winners was their effort. They are easily sucked into the trap of
Overconfidence, laziness, and indiscipline. It is difficult to be a successful long-term punter. It takes effort to remain still and even more effort to move forward. Once you relax or slack off, you begin to go backwards.

7) Emotion

Betting can be lonely. It is also a very skilled game. Emotion
Success can be undermined in many ways. It is comforting to know that even if you make a mistake, it is not your fault. You were just doing the same thing as everyone else. The laws of market demand and supply dictate that sheep will be fleeced long-term when they are betting. Emotions can negate discipline and long-standing, successful practices. Any race is unique and has its own results. Races should not be considered in relation to each other. While we all have emotions when betting, the best players can manage them.

Bookmakers have been conditioning other punters for years to expect to lose, rather than win. They feel like they are winning.
Losers are those who have lost a lot of money over the years. More than 95% of punters are emotionally flawed. Emotional gambling can be described as punters following a trainer, horse or jockey blind. Emotional punters love the “Hype” horses. Because they hate the idea of losing out on a winner, they may follow tipsters blindly. They don’t pay much attention to changes in the race or ground conditions. They don’t understand confidence and are unable to cope with it.

People are also prevented from betting on advanced topics like hedging, laying and arbitrages by their emotions. Some punters are compelled by emotion to place bets on horses that have names that recall their loved ones. Names like “Long Tall Sally” and “Susan’s Pride” are popular because they’re relatable to their lives. Many punters are resentful of their own money, and they don’t believe that winning or being successful is possible. Emotional punters are unable to capitalize on winning runs and lose their heads in difficult times. They make a mess of systems and stake plans that don’t make sense.

Your betting will be more successful if you are able to eliminate all emotion. Everyone in the game should be treated as a potential enemy. They are trying to steal your hard-earned money in the same manner as a pickpocket. You have taken the first step towards betting profitably once you are able to control your emotions.

8) The grass is greener

The grass is seldom greener on the other side. It is likely that your grass isn’t properly grown, cultivated, or maintained. Many punters switch approaches and methods quickly, so they don’t test any method. They stop trying until they find a system that works. The same goes for gamblers who keep track of every bet they place. They often stop after a few losses and decide to move on to the next area. They’re like kids with new toys at Christmas. They don’t stay with one method for long enough to succeed.

They believe that “Grass is greener”, but in reality the grass they use has been abused and allowed to deteriorate. They are always looking for the next big “new idea” or “method”, but that doesn’t work because the fault isn’t with the Grass but the Gardener.

They don’t have a long-term consistency in their betting and they keep moving forward in search of the holy Grail before an evaluation of all of their current activities has been done.

The person who spends the most time in the garden, and can master its challenges, will win the competition for best garden. The same goes for betting. Long-term, you will be more successful if your focus is on one area of study and research rather than switching from one to the next.

9) Laziness

Many punters are lazy! They are oblivious to the importance of research and poor planning. They don’t want to learn and they spend hours researching how to win at betting. They won’t invest in the game or invest in their own education. It is impossible to refuse to invest money. Just look at the racing for 30 seconds and you will see that it is not sustainable. In the most difficult trade, Winning Money at Betting, you simply cannot get away with this. It would be so easy that millions of people would make it happen. You must either invest or hire someone to do this. The natural human tendency to do the most with little effort is to make it as easy as possible. Bookmakers love lazy punters.

They don’t put in much effort into their selection process or make the most of their bets. The most successful people are those who work hard. My philosophy is simple. My philosophy is simple. I believe that if a journalist, bookmaker or odds compiler spends three hours on a race, then I will spend six hours on that race to gain an edge. Gary Player, the famous golfer, once stated that “The harder I work the luckier I get.” This is true for both golf and betting. Most people have jobs and families and are busy with their lives. This is what we do for you. We will do the research for you, and then re-invest our money in our betting to help you win.

10) You are a stupid person!

Surprisingly, most punters don’t learn from their mistakes. They make the same mistakes over and over again for years. It is pure stupidity. You can improve your betting performance by learning from your mistakes and weaknesses. You may have laughed at your bookmaker for years. It is possible to improve your betting and maybe even wipe that smile off his face forever.