Rules That You Must Use If You Are To Be A Successful Horse Bettor
Everyone wants to make money from their horse bets! However, developing an income stream from placing horse bets requires discipline and demands that you must start to live if you are to be a successful horse bettor.
Rule #1: Set Aside A Betting Bank
You should never – I repeat NEVER – bet with money you can ill-afford to lose. Not only will this put you under a great deal of emotional pressure, but it may also lead you to make stupid decisions in order to recoup losses.
The professional way to bet is to set aside a betting bank. This is a sum of money which you could – if the worst happened – comfortably afford to lose. I suggest that you generally start with 1 or 2% of your total betting bank. This way you can feel comfortable in the knowledge that you can afford to lose it all should the worst happen.
Rule #2: Ignore Your Emotions
In the world of horse betting, your emotions are your enemies. Emotions lead people to chase losses or to stake more or less than they had originally planned, and ultimately they will ensure that you never succeed in making any real money. Handicapping your own races will give you the confidence that you need when placing a bet on a certain horse.
Rule #3: Spread Your Risk With A Portfolio
Nearly all betting systems, methods, strategies, and tipsters go through cycles of profit and loss. If you follow just one strategy, and that strategy is returning a loss, then this can put pressure on you. Thus, I suggest that you use 2 or 3 systems at least when you handicap a horse race. Just as with speculating on the stock market, it is the wise investor who spreads his risk rather than keeping all his nest eggs in one basket.
Rule #4: Have a plan – and stick to it
On any given day, you should plan how you will be placing your bets, place them and then stop. By having a plan and sticking to it, you set yourself up for long-term financial success. Do not try to recoup any losses or achieve additional gains by deviating from your original planned bets. If your plan does not highlight any bets on a particular day, then have the discipline to keep your money safe – and enjoy a day without betting.
By having a plan and sticking to it, you will protect yourself from making the above-mentioned mistake. Instead, you begin acting like a seasoned professional and in doing so you set yourself up for long-term financial success.