Many think that is sufficient to have a foolproof horse racing system to make money from horse racing betting. However on the contrary, it is only if you follow these rules with the system will you reap success in horse racing betting.
If you are going to be successful and make money from betting on horse racing, you must have a solid plan. Whatever horse racing systems you prefer to use must adopt these plans, or you are doomed to certain failure.
But what plans should you follow? Well in this article I’ll explain what they are and why they are so important to your success as a punter.
Lets face it, no one places a bet because they want to lose their stake do they? Now I know that may be stating the obvious some what, but the way many people bet you would think that was their aim.
Although the sport of horse racing is entertaining, as a punter you need to stop betting for the entertainment value of the sport, and follow a four step plan that will enable you to develop a useful income stream from betting.
Sticking To Your Horse Racing System Is A Must
So what do I mean by this exactly? Well, whether you use a horse racing tipster, betting software or you choose your own racing tips, you need to decide on your bets, place them and then stop.
The last thing that you should do is try to recoup any losses by placing one more bet, or raising your stakes, this is a huge mistake that many punters make, thinking that it is the right thing to do.
Equally, you should not pile on more money in an attempt to win more, as you need to treat your betting like a business or investment opportunity. To not do so is fatal. It is also very important to add here that if your betting system does not highlight a bet on a given day, then you should have the discipline to keep your money firmly in your pocket.
If you have a plan from the outset and stick to it, you will protect yourself from making the fundamental mistakes that a lot of punters do.
Something that I talk about to a lot of punters is to begin acting like a professional. It is proven that adopting a more focused mindset will result in you making more structured decisions, rather than having the scatter gun approach that most punters have.
Being focused and professional about your betting, may not appear at first to be the fun thing to do, but it works. And ultimately, its no fun to keep losing and so I know which method I would rather adopt.
Using A Betting Bank Is Very Important
This rule actually follows the first one quite nicely, as it can be the first logical step in adopting a more focused and professional attitude to betting on horse racing.
One thing that you should never do, is bet with money that you cannot afford to lose. Financially it is just not very wise, plus it will also mean that your betting will no longer be dictated by your racing tips or your betting system, but instead they will become heavily influenced by your emotions, which incidentally is covered in the next rule.
The professional way to bet is to look at how much you can begin safely betting with, no matter how big or small that may be, and to create your betting bank. So in essence and just to emphasise this very important point, this is essentially a sum of money which you could, in the worst case scenario, afford to lose.
It is far better to start with even a very low betting bank, and to wager very small stakes to begin with, safe in the knowledge that you are betting within your means, than it would be to potentially leave yourself short or worse, borrow money for the purposes of betting.
Of course, as you become more successful, so your bank grows and enables you to wager more money per stake on your given racing tips, but do not run before you can walk.
Do Not Let Your Emotions Be Your Guide
I do hope that you can see a logical sequence developing here. Firstly you have a plan. Then you need a set amount of money set aside to execute your plan. The reason that the first two are important foundations is that if done properly, they will alleviate your emotions affecting your betting.
Once your emotions start having a say in your selections, you start climbing the hill en route to the slippery slope, I kid you not.
To prove this, the next time you go to a bookmakers, just take a look at the majority of people there. Do they seem happy? The trouble is that the vast majority of punters do not bet with a plan or a betting bank, but they back a horse that they fancy, or worse, one that they feel they should back as they’ve just lost.
This is not the way to do it and again, it may not be rocket science, however the number of people doing this every week would run into thousands I would think, so do not fall into this same trap.
Losing is all part of horse racing and so you need to develop a habit of not letting it bother you. You need to have faith in your given system, and allowing emotions to direct your betting is not the way to do it. Sticking to the plan, staying focused and not panicking, is the way to do it.
Keep A Record Of Your Bets
I would think that this is something that most people do not do and yet it is so simple, as all you need is some paper and a pencil.
Keeping a record of your tips and your bets is so important, as you need to know how you’re progressing. Once again, its treating it like a business that will separate you, the strategic, successful punter who goes about his business in a professional manner, from the casual punter that you see in the bookies (as mentioned above).
All I do here is mark the date, the horse, the venue of the race and the result. Do not forget of course to write down how much you wagered and what price the horse was, and that’s it. Six items of information per race is all you need really. You could do into huge detail if you wanted, but thats entirely up to you.
You Have No Excuses Now
And there you have it. These four rules, principles call them what you will, are the cornerstone to success when betting on horse racing. And as you can see, it requires little effort to do so they’re really is no reason why you cannot do this.