17 Feb Learn or Lose!
Posted at 15:47h
by Crystal Clear Betting
I’ve always been a positive and confident person, especially when it came to betting, so when I decided to do it full time, I started out just like everyone else, thinking “this is easy” and “all I need to do is back some winners, I do it all the time!”.
You start off thinking you’re an expert and that you already know everything. You’re Backing, Laying, Dutching and Trading. Then you’re betting before the event and during the event. Reality soon kicks in though…so many different bet types, different ways to stake and 101 other things you never thought about before. Plus now this is your main source of income, so you’re no longer just having “fun bets” – there are actual consequences if you’re not winning enough – talk about pressure! As it turns out, there is always something new to learn in the betting world and you better keep your finger on the pulse!
Find Your Groove
So, I decided to focus my efforts on Lay Betting, targeting certain areas and I quickly found I could gain an edge. I managed to identify value very quickly and could tell when to play and when not to. It was time consuming and I did very well, however I wanted to expand and wanted to base all my Laying on Betfair SP. It took me a while and I have managed to do this successfully for many years now and continue to do so today. The “getting on” problem is eliminated as the selections I target are usually the Favourite or at the pointy end of the market. The beauty of Betfair is you can call the price and if it doesn’t suit, I simply don’t play. There are so many races on that you can afford to be selective.
Laying is an art and when you master the market (Win or Place) and you find the bet type (Level Laying or laying to Liability) you are well on your way to real profit.
The next step was to progress to In-Play Laying and this bet type is extra special as you are laying to LOW PRICES which is every layer’s dream!
The Backing world was the same – finding bets that I could place to Betfair SP and BPSP. Using a similar approach I found once again I could profit at SP. The same rules applied; betting in the Win or Place markets specialising in the bet type with Back Win, Back Place, Traditional Dutch Bet or Level Dutch bet.
Then you move into Pre-race Scalping or Trading and can move to the In-Play markets – the options are endless!
The most important thing you need to ask yourself is: “What am I trying to achieve?”. You must have an end game, so if you’re answer is: “Make a lot of money”, I’m afraid that’s the wrong answer…! You need to be specific so that you can set specific, realistic targets and bet with real purpose. These days you’re up against computers, automation, and a whole host of very clever people so you need to apply your strengths to your betting if you want to be able to compete. You need the bricks and mortar to build from and like most of you already know, losing sucks and it can affect more than just your bank account!
Probability, Strike Rate, Return on Investment, Profit and Loss and understanding the odds are all things that need to fall into line. You will quickly be able to identify value and know when a price is wrong and take advantage. If you remove the “get rich quick” mentality, your betting will improve almost straight away. The luxury with Betfair is that YOU decide when to play, you are the BOSS! Reward yourself when you win, and your confidence will go through the roof doing something you love.
Having coached dozens of punters over the years, I can quickly identify those clients who are all over the place, willing to bet on anything and everything. The problem is they haven’t set up properly and are backing, laying and trading all from the same bank and staking plan. If you start with one bank for each bet type/strategy you will quickly see the benefits. You will understand what your bank is for, what your staking plan does and how it should play out to give you the big picture – your end game!
Teaching others has also taught me so much about myself as a punter. It really blows my mind when I think about how far I’ve come, the business I’ve created, and how my passion for betting has intensified over the years as I dig into everything this ever-changing industry has to offer.
Take every opportunity to learn from those out there who are willing to help you succeed and share what they know. The saying goes: “Work smarter, not harder” and that couldn’t ring truer than in the world of professional betting.