Submitted by rsteel on
Commitment to improve your sports betting discipline can go a long way to increasing profits for yourself. So while the calendar has already changed to 2013 here are some reminders of resolutions to live up to for long term success.
1)Thou shall not force action. If you have not fully researched a game and found multiple reasons creating value; do not bet. Gut feel, arbitrarily creating a line without any basis will quickly have you bankrupt.
2)Thou shall not chase losses. The national anthem is played somewhere every day. Patience and discipline are keys to success. This is a marathon not a sprint. If you chase losses you will just dig yourself a deeper hole. Losing streaks are inevitable it happens to everyone even the best of the best. The difference is when I am in a losing streak I do not lose confidence and I maintain the focus and discipline necessary to come out of it.
3)Thou shall not complain or celebrate. Take the first 5 minutes once a game is over to enjoy the victory or commiserate the loss. After that maintain an emotional detachment. Each bet is an individual business transaction. Getting too high after wins or too low after losses will lead to cloudy thinking and burn out.
4)Thou shall not exceed your bankroll. Greed is good but you cannot extract more money from this business than your bankroll will allow. In my opinion flat betting is the best way to operate this business from a money management standpoint. A unit is 2% of your bankroll. A unit is the dollar amount that you RISK on each game. Consistently risk more than 2% on each play and 1 losing streak will have you on the sidelines with no bankroll.
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