Don’t Be a Wally

Mindset and Money

I know that you probably want to get to the systems and start risking some money and getting some buzz going.

And we have some great little strategies that haven’t been shared outside of our members area previously.

But first we have to deal with one of the most important aspects of any betting career.

Yes really Money Management and Mindset are that important.

When you run a site like we do and are exposed to a lot of people that want to make it.

As well as a lot of people that have made it.

You quickly realise that Money Management and Mindset are the difference between success and failure.

Let me tell you about somebody that I know, I’ll call him Wally, which is not his real name 🙂

Wally is an expert , this man is the best form man I have ever met.

He can rip a race apart and analyse the heck out of it and consistently find big priced winners. (I’m talking 16/1, 33/1 etc)

How the hell he manages to not make thousands is a mystery until that is you start speaking to him over the long term.

Then you quickly realise that his downfall is a weak mind, bad habits, no money management and a get rich quick mentality!

I’ve spoken to this guy when he has made over £17,000 in a month.

Then I’ve followed up later only to discover that he has messed with his stakes and given it all back.

The shocker is that HIS SELECTIONS MAKE A LEVEL STAKES PROFIT!!!

Having the right selections and strategies is only half the puzzle, and its not the most important piece.

The keystone is Money Management and Mindset.

If you ignore everything else I write this week, take this on board. Please.

We have a lot of advice available on Money Management and Mindset in our members area.

But below are a few key pointers, from our Editor, Steve…

Hitting that inevitable losing run can have a massive effect on your confidence and as a result you may easily pass on a bet on the next selection or place smaller stakes.

Have you ever done that? Given up on a system only for the next selection to storm home.

Of course you have, we all have.

So what do you do next?

The system does work after all!

What most Wally’s do next is they up their stakes just in time for part 2 of the longest losing run in history :-s

If you can relate to this, don’t worry you are not alone.

This scenario plays out endlessly for the majority punters.

But carry on like this and before you know it the betting bank is gone.

The really annoying aspect of the whole situation is that the method may well have been performing to the expected levels all
along.

The thing is that even bad betting systems don’t lose all your bank overnight.

If they are staked correctly they lose gradually over time.

When managed properly things happen gradually, in betting and in business.

Overnight success is for the lucky lotto winner, it’s very rare and is not a sound plan for success.

A well managed betting campaign however has a much higher probability of success.

When using a system, decide beforehand what your stakes will be and how much you are prepared to lose before you give up on it.

Then stick to the plan.

Decisions made in the middle of a losing run (or towards the end of one) are not going to be your best.

Professional punters are not just born with a gift of making profits but have gone through an apprenticeship whereby they have
at some stage come to grips with the Mindset to embrace a sensible staking plan which ultimately means that they are Managing their
Money.

This starts with setting aside a level (bank) of funding that you are comfortable to lose if things do not work out the way you had
planned.

The next stage is to consider the likely strike rate and potential losing runs which will help decide how many staking units to divide
the bank into.

The final decision before you start placing bets is to set in stone the staking levels.

These may be level stakes on all selections, or your method may offer a way to highlight potentially stronger bets and so prompting
you to increase the stakes on these qualifiers.

The golden rule is whichever way you choose you have to position your Mindset to stick with this throughout the punting period.

Mindset and money management are not difficult to understand in fact knowing what to do is easy.

But it is extremely hard to do what you know you should in practice.

But do this and your chances of success increase substantially…

1. Set aside a sum of money in a separate bank account for your betting.

2. Decide what percentage of that bank that you will bet on each type of selection that you bet

3. Use a systems based approach in the beginning and commit to following the systems that you have selected for a set amount of
time and do not waiver.

4. Review once a month and only at the review can you change the stakes or systems

If you make this plan and stick to it then you are on your way.

If you can get support from people in the same situation through a friendly forum or a group of friends then your chance of succeeding
increases no end.

So think about sharing your plan along with your experiences good and bad so others can boost you when you are down and help
keep you grounded when things are going well.

Tomorrow we get onto the strategies.

Regards
Darren & Steve

We have had some great comments and a few that are close to what
we have found to be the number one success factor, but nobody has
given the answer we’re looking for yet!