Why pigeonhole yourself with your betting strategies?
From the desk of; Andrew David
It is funny in life how many people seem to fit in with their stereotype over time…
Let’s take teachers and lecturers for example. I’ve lost count on how many I’ve seen wearing them tweed jackets with what seems like the obligatory leather elbow patches and brown or khaki green cords.
Art teachers seem to wear flowery dresses, sandals and drive Citroen CVs (you know, the ‘upside-down pram on wheels’) and that’s just the male art teachers… Only joking, of course.
Still, botanists do tend to have beards bigger than the forests they are rummaging in… I could go on, but by now I think you catch my drift.
It seems they all want to ‘fit in’ to the image society expects from them, whether consciously or subconsciously. They may start off with individuality but soon become victims of conformity with the expectations of their profession and society.
With actors, the danger is being typecast into a certain role for so long that sees them lumbered with similar roles forever. Soap stars being a classic example. I mean, can you really see Ken Barlow as a Scarface-type baddie in a gangster film?
When it comes to betting, many seem to have pigeonholed themselves into continuing along the same path even though it may not be working for them – whether Backing, Laying or Trading.
I’ve often heard some say they don’t like Laying or Trading or whatever. I can never understand this rigid approach to betting when a little flexibility may well deliver them long term profits.
If you’ve already found a niche area to specialise in but only ‘Back to Win’ in that market, then you could be missing out on some golden opportunities. Combining all three staking approaches can be very profitable, even within the same market.
If you specialise in five furlong sprints for example and you fail to form an opinion on the likely winner but are confident of one or two that won’t win based on previous race analysis, then the answer is simple – ‘LAY’ them! Or, if you find you can narrow the field down to just one solid selection then of course ‘BACK’ especially where value has been found.
My point is not to write the race off just because it fails to meet with your long term preferred betting approach, as you always have the option of either Backing or Laying and in some instances Trading the selections.
Considering all three staking options within the same market can increase your long term profits as a result of a higher volume of bets. Most races have an opportunity to profit so long as they are thoroughly researched.
Regarding Trading and In–Play betting, if you know your football team inside out and they usually give away a one goal lead, then simply Lay them when they go 1-0 up and thus put profit over loyalty. This may seem a very simplistic approach, but it is one often overlooked by those stuck in old habits of using the same rigid approach to their betting style.
I’ve mentioned before about the importance of getting to know inside and out the area of betting you seek to derive profits from. This knowledge will then help you decide whether to Back, Lay or Trade the selection within that market.
Below is one good reason why you shouldn’t pigeon hole yourself to certain markets with your betting.
I have a service called Little Acorns International that is based on laying favourites on American racing that are listed on Betfair and Betdaq. Since its launch date in June 2020, it’s been making a small fortune for members and has had many great reviews since.
Well, fast forward a few years and that small fortune is turning into a bigger fortune now as we enter our 3rd year of the £50,000 three year challenge with over £12,500 banked after 13 months.
Those that have banked this cash have put aside their prejudice to American racing as surely profit is profit whether it’s derived from the 14.55 at Fontwell or the 19.23 at Gulfstream Park?
I also send the selections to members so little work on their part.
I’m sure you’ll agree it is always great when someone else does the cooking for you… Well, with this service I do the cooking leaving you to just sit back and enjoy the meal (profits in this case).
In short, don’t restrict yourself to UK and Irish racing if there are big profits to be made elsewhere.
So, going back to the subject of considering using a mix of different bet types depending on the strength/weaknesses of each contender, the ideal mix for me is.
Backing – when there is ‘clear’ value, and the opposition is inferior.
Laying – at short odds in high liquidity markets where you bet can be matched quickly, and on selections that your thought was inferior pre-event anyway.
Trading – if you want a defensive type of approach to your betting bank and are prepared to skim a small edge on a high volume of selections then trading is a great option.
You could enter the market Laying at low odds, or on the flip side backing at big odds to small stakes and cash out on small movements with set stop loss limits. Don’t become obsessed with one form of rigid approach or another.
Bottom line
Don’t be pigeonholed – or typecast, as they say in the acting world. If you have an adequate betting bank don’t be afraid to Back, Lay and/or Trade, not forgetting to thoroughly research your market first.
www.quickfirebettingprofits.co.uk
