Betting On Horse Racing : Sensible Money Management (part 5)
Everyone knows that gambling is a business of risk. Professional gamblers will successfully manage their risks and make a profit, whilst 98% of punters who consistently lose money, also consistently fail to manage risk effectively.
This is the concluding part to this series of articles, where I have explored the key reasons most punters lose money, in a vain attempt to make money through betting.
We have seen the importance of always getting a value price when you bet. If you fail to strike bets which offer a satisfactory return on your investment, then ultimately you will lose money.
We have learned why you should have a sensible approach to staking. Never put too much of your betting bank at risk in one bet, in an attempt to get rich quick.
I pressed home the dangers of chasing your losses. Experienced gamblers appreciate that you will more often than not lose more bets than you win. Losing is part of gambling accept this fact and you will not be tempted to compound your losses by trying to re-coup them by deviating from your staking plan.
In the most recent article, we...
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