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Investing behavior is a popular topic among financial experts and economists trying to learn how and why investors and markets behave the way they do. Many of their discoveries and conclusions will be just as applicable to punters wagering on betting exchanges as they are to brokers and traders dealing on the financial markets. The difference is that many brokers and traders are working with other folks money, meaning that they will exercise strict discipline as they are liable to their clients. Nevertheless, the independent punter may be only using his own money and it has few restrictions on what he can do with it.
System discipline refers to fighting the temptation chase every seemingly good bet in favor of sticking to a system which has been tested and shown to become successful. Most successful systems advise the bettor to possess a fixed amount of money with which to bet (commonly known as a “betting bank”); require that some manner of analysis or review accompany each bet; and dictate specific amounts, percentages, or odds. Most of these systems only work in the event the punter follows them perfectly, as adding variation changes the equations upon which the system is based. On the other hand, since most effective systems only provide small but steady profits, many punters become overconfident, impatient, or greedy and begin discarding elements of their system. The result tends to be betting with no proven system and usually means the same hit and miss ratio as any random gambler.
The entire concept of system discipline is fundamentally counter intuitive to the common punter. Of course, he wagering on the outcome of an event that has not been determined yet. On the other hand, sport betting just isn’t like casino gambling where the outcome is totally random; instead, research and experimentation can – and does – result in the creation of systems that will radically improve the chance of winning. That said, these systems will be just as good online casino as the punter is at employing them. Failing to be consistent, chasing after non-system bets that seem reasonable, and betting beyond one’s means all end in removing any advantage that a well thought out system may offer.
Once a betting system has been developed and proven, maintaining system discipline is the primary factor necessary to maintain steady winnings. Any and all variation from that system changes the exact amount of money won or lost, rendering the end result derived exclusively from the system moot. Random betting on sports is a fool’s game because with just a little time and effort the punter can do much better.
The professional punter knows and understands that system discipline is the key to success. Using his system consistently, patiently analyzing each bet before making, refusing to get too greedy and accepting many small payouts over a few large ones are generally signs of a serious bettor that intends to earn money. While anyone can get caught up within the excitement of wagering and clever bookmakers constantly make offers that appear very good, the professional with a proven system knows better.
