Creating a Method
The process of becoming a profitable punter requires a bit of discipline, and that doesn’t mean just having energy to research: you should have some routines related to your sources of information and your bankroll management – in a way, you will work just like a stock market trader and there are useful ‘tips’ that can be mimicked from the financial trading world.
What is a Bankroll Anyway?
Your bankroll is your total amount of money invested. There are endless discussions at betting forums and sites about the best method to spread your bets, i.e. how much of your bankroll should be bet each time you decide to wager.
Some believe that confident bets should reflect that confidence and represent a bigger percentage of the bankroll than rather speculative bets, while other punters – including some big syndicates – believe the long term results do not compensate the time to ‘measure’ the importance of each bet, and the process of accountancy becomes more complicated.
If your estimations are good, it doesn’t mean much if you are betting always the same percentage or not, the key to the profits isn’t related to how much you bet at all.
The most relevant concept for beginners is to accept the fact that you can’t safely ‘grow’ a bankroll by risking a big part of it at a single bet. Normal stakes are of 5% to 10% of your total bankroll.
A useful tip is to define a stake size for a weekend, a week or even a month and stick to that before recalculating. The best advantage of that ‘tip’ is to avoid losing time calculating percentages of the bankroll, especially when you are betting live or while you still have pending bets ‘at the market’.
When you become profitable you will also need to know how much to ‘take’ from your bankroll to allow it some sustained organic growth to keep it profitable.
Choose Your Bets Wisely
It is hard enough to master a few leagues of a preferred sports – it is impossible to bet on dozens of sports or leagues without the help of someone else, which means if you are betting by yourself, focus on the markets you know very well.
It is not impossible to learn more about very exotic leagues or even sports, but it is very important to understand how information is the key to the betting world’s Eldorado.
Measure Your Results
At times you will be profitable at specific markets while others will drain profit from your bankroll. Let’s suppose you are doing well at the Brazilian Serie A betting but your speculations in Argentina and Spain aren’t good – it’s vital to ‘map’ your performance to decide whether you need to improve at a specific market or simply drop it.
Some leagues are harder than others and each punter has unique skills, which means you must test your skills in practice to determinate how much and where to bet.
Another important tip is to evaluate your bets in terms of ‘type’ like 1×2, Asian Handicap, Overs / Unders, Outrights, Exact Score and other special markets like 1st half or 2nd half results.
Tools like Microsoft Excel or Google sheets can be very useful to organize your bets. By the way, it is very important to keep a record of your bets to know how you are doing at each market as well as your overall result.