Making money from betting requires discipline.
It’s all to easy to get carried away, betting stakes too big, either for your current bankroll or for your current mindset.
For example, take someone new to betting.
They’ve done the basic due diligence and either found a proven tipster to follow or have been paper trading their own selections for a time and have now decided to start backing them with real money.
If they jump right in and start backing with £50 stakes right away and they quickly hit a dry spell.
Before they know it they’re down 30 points. That’s £1500 in real money terms.
Even if they have the bankroll to sustain this kind of loss without a problem, they would probably be feeling a little bit worried about losing that kind of money so quickly.
They might be so worried that they abandon their betting all together and cut their losses.
But if they had started out betting to smaller stakes, say £2, they would have only lost £60.
No big deal.
They are far more likely to continue on betting and if the tipster or selection process is profitable (which it should be if they have done enough due diligence) they will see a turn around in results along with some profit.
They would then realize that a 30 point downswing isn’t that bad and is actually quite normal.
This experience will have allowed their mindset to change and they will be much better prepared to deal with downswings now when betting to higher stakes.
And with the higher stakes will come higher profits.
But they might not be able to deal with the downswings at higher stakes, if they hadn’t first experienced them at lower stakes first.
If you’re looking for a proven tipster to follow, here are the ones I recommend:
Until next time,