Do you want to be successful in as a punter? We all have a dream of becoming rich however when reality sinks in its often harder than we imagined and few have achieved their dreams.
Most of these speculative investments inevitably come to a loss and it can feel like the odds are stacked against you.
We’ve all seen the success stories whilst rummaging through the internet but they often seem like a once in a lifetime opportunity and only achieved with a lot of luck.
However, with that being said, there are a lot of ways you can position yourself to be successful at sports betting.
Here are factors that can prevent you from becoming successful
Lack of Patience
With the above being said it can be extremely difficult to stay patient. Tons of successful stakes, winning bets and lost opportunities everywhere can lead you to be extremely hasty with your betting decisions. Impatience is a quick way to lose money so take time away when you are feeling impatient and hungry for a win. Chasing wins can be extremely dangerous!
Managing your bankroll separately from your personal finances is crucial for multiple reasons
- Increased measurability – You can see how much you’re up or down easily as there are no personal finances and incomes mixed in with your bankroll
- Better risk management – As you are not relying on your salary to fund your bets. You are more responsible as you know these funds can go up and down. This will make you think twice before taking emotional bets
Specific details of your plan depend on your experience as a bettor, but as a general rule, you shouldn’t be risking more than you can afford to lose. You should also be trying to double your betting bank between 8 – 12 months so make sure that your stakes are profitable enough but take every opportunity to mitigate the risks of losing the whole betting bank if you have a losing streak.
In order to succeed you’ll need a lot of patience, but that is nothing without self-control and a great mindset. It is tough when losses keep coming and you can definitely lose the will to bet or even worse, chase your losses
It’s ok to take a break from betting if it isn’t working out, a few days away can really reset your mindset but stick to the staking plan you have logically created and avoid emotional decisions.