The golden rule taught to me by a few betting masters over the past is NEVER underestimate the value and importance of having a REAL Betting Bank in place.
What I mean by ‘REAL’ is not just a betting bank in ‘theory’ or just on paper. Have the actual funds set aside and ready to be used if called upon.
It never ceases to amaze me how some punters having set a betting bank aside get nervous when they dip into it? Surely, it is there to be dipped into or why else bother having one in the first place?
It appears many just give lip service to having a betting bank but in reality, hope it won’t be touched. If that’s your mindset then you’re doomed to fail from the outset and deep down I think you know it.
If we could make instant profits from a service or system, then of course a betting bank would not be required. In reality that’s not going to happen. So, expect the expected and use it!
If you think it through, what business can be started without any seed capital?
Whether it’s Gambling/Trading or opening new clothes shop it cannot be done without working capital.
Can you imagine opening a shop and then getting upset having to pay to the builders. Saying ‘No’ I can’t pay you until I am making a profit. I think you will get disgruntled looks to say the least!
In betting when you have dipped into your betting bank you have NOT lost! You are merely in the midst of operating your investment plan.
At this point I have to add you have to have confidence in the plan or service you are following and one that is based on reliable past stats and validated results.
Once you have established the strategy/service you are following is fundamentally sound you simply carry on through the ups and downs.
I’ve lost count at the amount of forum posts I’ve read from members of various services who said they are losing faith when their bank is down by 30% or less? Then only to bow out and witness an uplift that would have seen them go into profit if they had simply ‘used’ their betting bank as planned. Yet they miss out – yet again!
This is a classic case of those not really wanting to use the advised betting bank in the first place.
With many trading blueprints or services, you will have more losing days than winning ones, and therefore fortunes can change very quickly, in one day in many cases.
If you are not prepared to use your betting bank, then don’t begin the investment process until you are prepared to utilise your seed capital.
Here are a few tips to help you on your way.
1 – Allocate an amount that if you were to lose half you would still carry-on betting.
E.g., If it’s a £200 betting bank then make sure you would carry on if it dropped to £100.
2 – You can if you wish see the whole lot as lost from inception. Then feel gutted that you have lost it (take the mental pressure off and release yourself from the emotional attachment).
Then see every penny you win back as a bonus, as remember you have already emotionally accepted that it’s already been lost.
Watch how this changes your mental focus over time.
3 – Operate a percentage of bank at all times. e.g., 2,3,4 or 5% of bank and recalculate your new stake daily or after each bet. This will help you stay in the game longer.
OK it may take longer to build your pot due to having less stake during the winning streaks. However, if operated for long enough and with the right plan, your bank should still build. That’s because when you win you normally win many times your unit stake, and when you lose you only lose your unit stake.
That’s what many forget when they instantly dismiss this form of staking approach.
So next time you embark on your next trading/gambling service or strategy do consider the above points and they will serve you well over time.
Until Next time!