With the current global stock markets in a state of flux, volatility seems to be at the forefront of everyone’s minds and although the likes of the FTSE 100 and the Dow Jones are not linked to the world of sports betting, there are also some shared common principles at the same time.
That’s because with the value of many shares being wiped away, it is causing traders to then sell off whatever they have left and this in turn causes more panic within the markets, something that only points to ill-discipline.
This ill-discipline comes about because traders lack the required nerve and because they continue to make poor choices, it only furthers the panic in the stock exchanges around the world. However, volatility can be your friend if you are prepared to ride out the choppy waters.
That’s because there is always an upswing to any dive in the market and the traders who display the most nerve and show strong discipline are the ones who will amass more profit in the future, a principle that can also be attached to sports betting.
BUILDING YOUR BANKROLL
That’s because no matter if you are just starting out or a seasoned professional, everyone will experience a losing streak at some point in time and although it can be something of a bitter pill to swallow, it’s knowing how to deal with it which will make all the difference.
If you are an unexperienced gambler, you may find yourself in the position where you end up chasing a win and usually after a poor run of results, there is little to suggest that your luck will change and this only compounds the losses that you have incurred.
Whereas if you are a professional gambler, the chances are you will know when and where to stop on any given day and if things are going against you, you simply return a day or two later with a fresh set of insights.
While in addition to that, you will have set yourself a daily target to reach and more importantly a maximum threshold that you are prepared to lose, which is a fundamental element to any successful betting strategy.
In doing the latter, it means you are not risking all your bankroll on one bet and therefore opening the opportunity of losing it all. A strategy that may see you win big but ultimately will eventually lead you to ruin.
These ‘hail-mary’ bets are the perfect display of ill-discipline and it is a sign of people either chasing a run of losses or looking to win too big in too quick a time. However, a more measured approach that works on a percentage increase basis, should be the basis of your strategy.
LOOKING AT DIFFERENTLY
The mistake that so many gamblers make, is that they don’t really have an end figure in mind. Yes, they want to win a large amount of money, but they don’t necessarily know how much exactly, and it is that lack of focus that proves costly.
Whereas the gambler who has been clever and thoughtful enough to make this his profession, knows what the end game is and even though there may be the odd bump in the road, he also knows how to get there.
Of course, when it comes to betting and aiming to get a return on your investment, there are absolutely no guarantees of the desired outcome. However, that’s not to say you cannot at least improve your chances.
Let’s play out an example of how you should look to build your bankroll:
Say you start with £10 and you want to turn that into £1,000 via a disciplined approach and one that rewards patience and holding your nerve throughout. Now surely it is something that is incredibly difficult to achieve. However, it is not as difficult as you would think.
That’s because instead of thinking that you need to turn £10 into £1,000 in double quick time and therefore placing more riskier bets, you instead can take your time and look to play a percentage-based game instead.
Let’s work on the 2.5% strategy in order to turn our £10 into £1,000:
What this means is on Day 1, I start with my initial £10 and on the basis that I need to increase my bankroll by just 2.5%, I need to end the day with £10.25 – an additional 25p at the end of the day’s proceedings.
That should be easy enough, for the simple reason that I only need to find a bet that is 1/40 on and then place my whole bankroll to get to the required amount. Then again, I could work with some slightly shorter odds say 1/20 and place £5 of my bankroll instead.
Ultimately whichever of these two options (and of course you could work your way even shorter – these are not the only pair of bets available) you select is a bet that comes with minimal risk and you would have to be incredible unfortunate to be wiped out on Day 1 of the project.
Therefore on the assumption that we’ve made it to the end of Day 1 with £10.25 in our account, we then once again work off of the 2.5% principle and this means, we use our new bankroll to generate an additional 2.5% at the end of the day.
Which if were successful would take us to £10.51 and although we are not ready to retire yet, we are certainly two steps closer on our path to riches, which also means we are quickly learning the concept of strong betting discipline.
Now of course, these two days of betting activity are simply small fry in the grand scheme of things but if you adhere to this principle, you can turn £10 into £1,000 in the space of six months. However, this does come with a pair of caveats.
The first caveat is that you will need to have an incredible run of success. One that if you were to only place a single bet (that met the 2.5% threshold) you would have to win 186 days in a row, something that not even the most successful gambler could be confident of achieving.
Which leads us to the second caveat, and it is one that ties into the underlying principle of being disciplined. Quite simply, if you do lose one day, then you don’t have to chase a huge amount of winnings in return.
NO NEED TO PANIC
Let’s say on the start of Day 3, you have £10.51 in your bankroll and by the end of it, the target is to reach £10.77 (another addition of 2.5%) and you’ve decided to take an element of risk by placing 13p on Tottenham to beat Manchester United at Evens.
If you win, you get to the next target and if you don’t you go down to £10.38. Unfortunately, Tottenham fail to get the better of Manchester United and this means you have your first losing bet of the bankroll run.
With that losing bet, you bankroll is short of it’s Day 3 target and if you were ill-disciplined, you would be more inclined to place another bet that same day in order to try and retrieve any previous loss.
However, if you just admit that you’ve lost that day’s challenge and set yourself up to go again the next day. You then find yourself with not a great deal to do in terms of getting back to the desired bankroll amount.
WHICH PATH TO CHOOSE
From here, there are two paths to choose:
A) You skip the Day 3 amount and bet on getting to Day 4’s target
B) You try and win back the Day 3 target amount
There’s not necessarily a wrong answer here but if you’ve already just suffered a loss, it makes sense to be patient and just aim to try again at the day you failed to reach last time around and with that in mind, option b is the safer choice.
Of course, if you were slightly more risk adverse, you could skip a day and then try to get back in sync with your original schedule. Although in doing this, there is always the risk that you lose two days in a row and remove a larger portion of the bankroll.
Therefore, by going for option b, we give ourselves an easier chance of getting back in sync and continuing to display a strong element of discipline, while also continuing to build our bankroll step by step.
Ultimately if you stick to this underlying principal and are patient, then there is no reason why you cannot turn a small initial stake into a healthy profit in just a few months and of course, the longer you are prepared to use this method, the quicker the rate of acceleration.
Which means those who show the traits of ultra-discipline, are the ones who will eventually claim the largest of rewards.