August 2020, is this the busiest month in sporting history?
From the moment I wake up, it seems there’s a sporting event somewhere in the world as the after-effects of the pandemic lockdown mean leagues are desperately trying to cram in all their fixtures at once.
It’s a professional bettor’s wet dream and a long-suffering partner’s worst nightmare. How on earth do you decide what to watch? At one point this week, there was football, tennis, cricket and snooker all at the same time and all matches I was interested in, but I had to make a decision on what to follow.
As a trader, the worst thing you can do is spread yourself thin. I suppose the more experienced professionals will have such a knack that they could focus on more than one thing at once but I’m nowhere near that level yet.
Mistakes will creep in and positions can easily be forgotten or not monitored in time. I don’t have the luxury of a multi-screen set up just yet so it makes it even trickier.
Related to your own betting, it’s definitely worth considering why you’re betting on a particular event and where your strengths lie…
Do you do equally well (or badly) across all the sports you bet on?
Is there one sport or market that you have more success than others in?
If you keep losing in one market, why not stop and refocus that time into betting on something you’re good at.
Less is more
One mistake I made (and occasionally still make) is trying to bet on as many things as possible.
If you are a sports obsessive like me, then it’s easily done. Of course, if you are getting true value on each selection then it’s a great approach but many of us aren’t able to assess the true value of most of the things we bet on. I use value betting software like trademate and it’s a big help in finding actual genuine value on a volume based approach.
However, even if you don’t use software like this, you’ll still find that if you focus on quality over quantity, your profits will actually become steadier and more consistent. Sometimes it’s just not worth having a bet and that’s ok. Your analysis will still be useful in the future and you might have just saved yourself some cash.
The pros in the Bet Chat stable all share this similar philosophy. If you’ve subscribed to any of the services, you’ll notice that there are a few cherrypicked selections each day. Some days there might not be any at all. For me, that’s great.
There are lots of tipsters out there who create the illusion of a great service because they churn out a huge number of selections each day. This is simply not the case. A few strong selections a day not just saves you time in placing them but, in my opinion, will make you far more money in the long term.
A systematic approach
The other thing that’s very easy and tempting to do when you start taking your betting seriously is to go and buy a whole load of systems and strategies. There is lots of good stuff out there but don’t make the mistake I did in my early days and buy too many all at once. Just buy one. Master it. Take your time to understand it and apply it. Once you’ve done that then have a look at something else.
I’m a firm believer that in sports betting, you have to develop this mastery. Being a jack of all trades is okay at first while you are finding your niche, but eventually you have to make a decision and narrow your focus if you want to get really good at this gambling lark.
If you’re struggling for ideas, there’s a superb dossier that the Bet Chat have just released. You don’t need to do all the strategies in the guide but even picking out a handful that suit your betting style and interests will give you something to focus on in the future.
I’m telling you all this, but I need to apply it to myself!
I have a habit of over trading on football but am making steps to refine my selection process. Instead of 15-20 trades in a session, I want to just pick out 3 or 4 really strong contenders because again, by spreading myself too thin, I’m just throwing profits away.
I hope you enjoyed this week’s post and if it resonated with you, let us know. What have you noticed are your strengths and areas to focus on? Do you have a tendency like me to bet on too many things?
If you’d like to get in touch you can reach me by emailing clients@thebetchat.com.
