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Investing behavior is a popular topic among financial experts and economists trying to learn how and why investors and markets behave the way they do. Many of their discoveries and conclusions will be just as applicable to punters wagering on betting exchanges because they are to brokers and traders dealing on the financial markets. The difference is that many brokers and traders are operating with other’s money, meaning that they will exercise strict discipline since they are liable to their clients. On the flip side, the independent punter is normally only using his own money and has few restrictions about what he can do with it.

System discipline refers to fighting the temptation chase every seemingly good bet in favor of sticking to a system that has been tested and shown to become successful. Most successful systems advise the bettor to possess a fixed amount of cash with which to bet (typically referred to as a “betting bank”); require that some manner of analysis or review accompany each bet; and dictate specific amounts, percentages, or odds. Most of these systems only work if the punter follows them perfectly, as adding variation changes the equations upon which the system is based. Even so, since most effective systems only provide small but steady profits, many punters become overconfident, impatient, or greedy and begin discarding elements of their system. The result tends to be betting without a proven system and usually means the same hit and miss ratio as any random gambler.

The whole concept of system discipline is fundamentally counter intuitive to an average punter. Of course, he wagering on the outcome of an event which has not been determined yet. On the other hand, sport betting just isn’t like casino gambling where the outcome is totally random; instead, research and experimentation can – and does – end in the development of systems that can radically improve the chance of winning. That being said, these systems are only as good as the punter will be at employing them. Failing to be consistent, chasing after non-system bets that seem reasonable, and betting beyond one’s means all lead to removing any advantage that a well thought out system may offer.

Once a betting system has been developed and proven, maintaining system discipline will be the primary factor required to maintain steady winnings. Any and all variation from that system changes the exact amount of cash won or lost, rendering the final results derived exclusively from the system moot. Random betting on sports is a fool’s game because with a little time and effort the punter can do much better.

The professional punter knows and understands that system discipline will be the key to success. Using his system consistently, patiently analyzing each bet before you make, refusing to get too greedy and accepting many small payouts over a number of large ones are generally signs of a serious bettor that intends to earn money. While anybody can get caught up within the excitement of wagering and clever bookmakers constantly make offers that seem excellent, the professional online gamble with a proven system knows better.

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