In all activities that involve making or investing money it pays to diversify, but with betting it is even more important. All systems and selection procedures will have losing spells and even the top professionals have spells where they just can’t pick a winning bet.
If you are at all serious about your betting you have to make allowances for this fact and diversify your betting interests. Or better still have other income streams which compliment your betting profits. Just to go off track for a minute, it’s not a bad idea to keep some sort of job just for mental and social reasons. Sitting in front of TV’s and PC’s all day can send you a little crazy and increases feelings of isolation. Keeping a job will force you to get out and speak to other real people!
Let’s get back to the main message of this article which is that you need to diversify your betting. That way when one system or method has a bad month you still have income from your other systems.
Ideally you want to diversify across sports. So for example if the weather is bad, heavy rain etc, you will probably find that your selection methods for horse racing are impacted. If you also bet on sports, particularly indoor sports, you will find that these are not impacted by the same factor IE the weather.
If you cannot diversify across sports then as a minimum you should diversify your types of selection methods. Let’s look at a simple example, let’s say that you are betting on a number of horse racing systems that all lay the favourite. Each may have additional rules and may work well independently. But if there is a run of four or five winning favourites your profits will be impacted across all the systems.
So diversify across sports if you can, but at the very least don’t have your whole portfolio of systems based on one factor.
