You’ll want to remind yourself why you’re placing a bet. If you are placing bets with some colleagues from the office or your best friends, you probably don’t have to think too much about it. But if you’re making a lot of bets, and turning it into something more than a hobby you’ll want to have a more professional approach. Here are a couple of tips to help you with that:
- Make sure you’re in the right condition to bet. Again, if you’re just betting with friends then it’s not that big of a deal to place an emotional bet or to put some money the outcome of a match after you’ve had a couple of drinks. For the professional however you will need to reflect on yourself and if you’re in the right condition to make a bet.
- Know what you’re betting on. As exciting as it can be to place bets when you’re first getting into a new sport, you’ll need to know what you’re betting on and don’t place a bet if you’re unfamiliar with the sport. In the long term you’ll lose a lot more than you make if you’re betting on things you don’t know. Stick to sports you know well or at least keep your bets extremely small when you’re starting out with betting on a new sport.
- Stay up-to-date. Follow whatever sport you bet on most very closely. Keep track of the teams’ (or athletes’) statistics, changes in management, weather condition in the cities in which the events are taking place and sometimes even a bit of gossip. You know never what will affect the outcome of a game or match or bout, so remember to think about everything and factor in how it might affect gameplay.
- Always bet within your means. This might sound obvious, but so many gamblers seek to cover their losses with bigger and bigger bets. This will very rarely result in a net profit. If you’re uncomfortable with losing the amount you’re betting then your bet is too large. It’s important to keep in mind the psychological effects of winning and losing. If you start stressing out over how much you’re losing you’re less likely to take a professional approach to gambling and the bets you place often end up becoming more and more danger to your wallet and your mental health.
- Keep track of your wins and losses. You’ll never be able to improve your rate of success if you’re not comparing your own statistics over tip. Get a dedicated betting notebook and keep track of your wins and losses. Analyse what made your wins or losses successful (or a failure) and try to duplicate the results.