We’ve talked before about a seven point plan for creating an enjoyable (and ultimately profitable) betting business. Step #1 before we get into the nuts n bolts of creating betting strategies, systems, money management, staking plans, and so on, is to first take a good look at ourselves. Today we’re going to be asking ourselves some searching questions
This post is part of a ‘fundamentals’ course delivered free with my newsletter, and I think having a professional mind-set is fundamental …if you want to bet like a professional.
It’s only natural to assume that all you need to make a profit from betting is a killer collection of betting systems. But I know people who’ve been following tipsters, collecting betting systems, studying statistics and developing their own methods for years, yet still lose money.
We’re going to be looking at you and asking, among many other questions, what’s your attitude to betting, and why do you bet? It’s when we start taking a closer look at ourselves that we discover some clues as to why we’ve been failing.
Let’s take a closer look at those questions….
- WHY do you bet?
- WHEN do you bet?
- HOW do you bet?
- WHAT is your attitude towards your betting?
- HOW to you react to a losing run?
- HOW badly do you want to succeed?
This is by no means an exhaustive list, but it’s a good place to start and 99% of punters will never reflect on any of these questions. And I’m not aware of any courses offered on the market that suggest you spend a while in “intro-spective” mode before getting stuck into a betting campaign.
Yet having a better “knowledge of yourself” will help you form the foundations of your overall betting strategy – and every house-builder knows if your foundations are not well dug, your house will be far more vulnerable to collapse.
Know yourself
Let me give you an analogy that will hopefully underline the importance of what I am trying to say.
I’m always trying to get fitter, lose some weight, improve my performance, you know the score? Towards the end of 2007 I got myself one of those mountain bikes and promised myself I would use it regularly to help shift a few pounds.
I set myself a training regime – I planned to get up an hour earlier and ride for an hour or so, get back, have a shower and breakfast, then get to my desk and start work.
Well it all started with good intentions. But a few days into the new plan I came downstairs one morning in my fancy cycling gear (yep, I wear Lycra!) and decided to take a quick glance at my emails before I went out. Mistake. I then spent 30 minutes answering a few messages, and long story short, I didn’t get out for my ride.
A couple days later, I decided to have a few extra minutes under the duvet, which turned into an hour under the duvet, and by the time I finally got to my desk after my cycle ride it was ten in the morning.
The fact is, I’m not a morning person. I really struggle to get up early. You will regularly find me tapping away at my PC at 11 o’clock at night, but I like to sleep in as late as my schedule allows.
So my plan to exercise by getting up early was never going to work long term – not for me.
My original plan did not suit my personal circumstances nor preferences.
I now get to my desk as normal, then at 11 o’clock when I have completed everything I want to, I go out for a ride, or up the gym or go for a run, or whatever, before lunch.
It works for me. It might not work for everyone, but it works for me. And I’m now in a habit, and I’ve managed to maintain my training program for more than two years – I’ve now got one of those really cool carbon-frame race bikes and I’ve ridden one hundred miles in a day on a couple of occasions – and best of all I’ve lost more than 2 stone in the whole process!
But do you get my point? You need to “know yourself” before making plans, otherwise you could be setting yourself up for failure.
Further reading: The Best of SkyBlueKangaroo
