Five Golden Rules for Horse Racing Betting
“Discipline is the bridge between goals and accomplishment.” – Jim Rohn
Even when you are equipped with plenty of tools (such as those provided here at One Stop Racing) to help you eliminate some of the losers you are thinking about betting on, it is still easy to drift off course.
Discipline is key to ensuring you do not lose your way with your betting, by following these five golden rules you will stay on track.
Golden Rule Number One – Always bet within your limits.
In other words, never bet more than you can afford to lose. Therefore, I always advocate using a betting bank and placing your bets as a percentage of that bank. There is no such thing as a racing certainty, so why risk everything you have on the outcome of a race? The chances are if you follow such a foolhardy approach you will lose everything very quickly.
Golden Rule Number Two – Always master your emotions.
There are three big fibs in life, and they are as follows:
- I have never broken the speed limit.
- I will be there in five minutes.
- I have never chased losses.
LIAR LIAR LIAR!!!
I do not care how often you do the first two but break that habit of desperately chasing losses now. OK I understand you may have had a bad day but shut up shop, keep what you have left in your pocket, or if backing online close that computer down.
Another emotion you need to control is greed, this is where many of the bookmakers’ friends go wrong, they may be having a great day then go and put everything they have won and more on the favourite in the lucky last and end the day pot less when they could have finished well ahead.
If you ever feel that you just must place another bet to chase losses or win more money you have lost control of your emotions, pack in straight away and have a cold shower.
There will be plenty of chances in the future so by controlling the emotions associated with your losses, or gains, and being patient, you will have more chance of becoming profitable in the long term.
Golden Rule Number Three – Always make an informed decision.
You will never make a long-term profit by placing random bets based on hunches, “inside information”, unsubstantiated tips, sticking a pin in the race card or any such tomfoolery. Always make an informed decision by either studying the race for yourself or using a trusted source that you know will have done all the groundwork for you.
Golden Rule Number Four – Keep the faith
Never alter your betting style just because of a losing run. Accept and acknowledge that losing runs do happen but when we hit that rich vein of form the winning runs will cover those losses and return a nice profit over the long term.
Trust your judgement in the methods you know produce a fair proportion of winners and you will always get back on the winning track.
Also never be afraid to go against the crowd. If the horse at big odds is highlighted by one of your trusted sources or systems, do not let the price put you off.
Do not forget this advice,
“You will never back a 50/1 winner unless you are prepared to place a bet at those odds in the first place.”
Look at racing results almost any day of the week and you will see that plenty of outsiders win race upon race every day of the week.
So, by keeping faith in your selection process even when it throws you a curve ball you will indeed get your share winners including some at very tasty odds indeed.
Golden Rule Number Five – Always obey golden rules one, two, three and four.
Religiously follow the first four golden rules, stick to them no matter what.
I cannot guarantee you success with your betting, anyone who says they can, is a liar, but there is one guarantee I can make.
If you do not follow the golden rules day in and day out, you may as well forget about trying to make money betting on horses as it just will not happen.
You need patience, a logical approach, and lots and lots of discipline.
Making regular long-term gains in the racing game is a marathon not a sprint.
Follow the golden rules and you stand a better chance of making a go of it.
I began this chapter with a quote by Jim Rohn and I will end with his distinction between success and failure.
“Success is nothing more than a few simple disciplines, practiced every day.”
“Failure is simply a few errors in judgment, repeated every day.”
Jim Rohn
Make sure you get them the right way round.
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