The Ideal Mindset
When it comes to addictive activities, Gambling is up there with the best of them.
This immediately means the majority of the general public will find it difficult to profit from their betting in the long term. That is, not without a major change to their mindset.
When it comes to betting, whether it be football or horse racing or roulette, the outcome is always going to be the same in the long term if the person involved has the wrong mindset. Now, I’m not saying that with the right mindset a roulette wheel can be beaten – in fact the roulette wheel is infallible; the odds are always in favour of the casino and so they have an edge over the general public.
However, if we were to switch places and in essence become the casino, now we have the edge over whoever wishes to take our bets (and that includes the bookies!). This is how we are able to manipulate our betting activites – we create an edge over the people who are accepting our bets.
Let’s use the roulette situation as an example where we are the casino and we have the edge. This does not mean we can never lose. Someone may come and take £10,000 off our hands, and this does in fact happen every day in casinos throughout the world. But what does the casino do next. The answer is nothing, it continues to take bets at the same odds as before and sure enough over time that £10,000 will be made back and more to come after it.
This part is important. Relating this to our own betting activites, there may be days, or weeks, or even months when we do not turn a profit. We may hit a losing streak. This is built into the very nature of betting. It is essential that in this situation we do not allow our emotions to take over our actions.
Be like the casino – do not react, keep to the staking plan provided and continue placing the bets as before. Before long whatever was lost one month will be made back the next, and time itself will become your asset. It is by using the buffer of time that we will inevitably make our profits.
Keeping our mind focused on the long term, and having emotional detachment from the short term is the key to success.
It is a very simple concept, yet few people utilise this mindset and it is because of this so few ever make any significant money in the field of betting.
In fact, only around 2% of bettors are currently making money consistently from their betting. Many serious punters dedicate a significant amount of time to it, but either they have not found a strategy with a winning edge, or they don’t have the discipline to follow that strategy over the long term.
Many punters have a winning strategy in their back pocket and still will fail to turn a profit. The usual causes for this include:
Using a betting bank for casual gambling.
Chasing short term losses.
Straying from a proven staking plan.
It is essential that we refrain from doing the above things if we wish to be successful. At PuntHub we provide betting services with a winning edge and a blueprint on how to use them. That said we cannot manage peoples money for them.
It is those that focus on the long term, show discipline and are patient who inevitably reap the rewards.