10 New Year's Resolutions For Punters

What advice should every punter follow in the New Year? With the festive period upon us, today on the blog Stephen offers us ten resolutions to take into 2013.

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With the festive season in full flow, we take a look at ten resolutions all punters ought to make for the new year ahead.

1- I will not chase my losses

The biggest failing of many punters, the hotted up feeling when a bet goes wrong and the brain immediately triggers a "get back in front at all costs" signal. Even the most successful players are vulnerable to this and avoiding the chase syndrome is vital to become a long term winner.

2- I will develop a staking plan

Have a maximum stake when confidence is highest. Bet the most when the value is maximised and the discrepancy between your idea of the "real" price and the price available is widest. Don't stake according to emotion or how you are faring on the day, or if you have been winning, or if you have just been paid!

3- I will have a separate betting "tank"

Keep real life and betting totally separate. A paying the bills bank account and a solely for betting account. This is a great way of keeping track of how you are actually doing betting wise, and also means that a bad run doesn't mean the electricity is cut off!

4- I will find an area of expertise and bet only on that

Specialise, Specialise, Specialise is the best three words of advice when it comes to betting successfully. Find an area where you concentrate and become better than the odds-compilers at it.

The more "niche" the better, as prices on events like Premier League matches are well established and more or less right week in week out. Perhaps concentrate on novice chasers only, or non-league football or Brazilian basketball. Bury yourself in this area and forget about playing on anything else...

5- I will end all "interest" bets for fun

The live match on the TV, a spread bet on the cricket, a punt on the live horses. So many punters betting habits are dictated to an "interest" in live sports they watch from the armchair for recreation. Usually these are a bookmakers dream, with high margins and the prices very much in their favour long term.

Look at all the adverts that litter this televised sport. 90% are from bookmakers offering "in-play" prices about the next scorers, or correct scores etc etc. They aren't offering these bargains for charity or the good of their health; don't be a bookies dream!

6- I will keep a record of profit and loss every month

Forget about the daily ups and downs but do analyse every month to see what bets have been the most or least successful and try to cut your cloth accordingly in the longer term.

7- I will open accounts with every betting company and take advantage of all free bets

It is essential that every punter has access to the best prices, and these days the betting market has become extremely competitive and every firm is anxious to get new customers..(although once you have showed yourself to not be a clueless mug this process becomes rather more complex!).

There is a huge range of free bets out there, designed to attract loyal non-price sensitive players, but the astute punter can take advantage of this and profit from them. It is also worth getting every auntie, neighbour or colleague to open these accounts (be prepared to be factored to death when you start winning, so some back up accounts are always essential).

8- I will price up every event before looking at the "exchange price"

Remain clear headed and form your own prices before being influenced by what the exchange tells you. With the entire betting industry dictated to now by how the Betfair market shapes up, it is essential to maintain an aloof, independent view of "real prices" before seeing how the perfect market views a likely outcome.

In "niche" markets where liquidity is low i.e greyhound races or lower league football, the creation of a tissue based on your own expertise is the only way to find the required "edge".

9- I will never trumpet my victories or moan about my losses

When you are flying don't boast or trumpet the good news and by the same token don't get distraught and in a negative mindset when a poor spell comes along. Remain calm, level headed and take a long run perspective on the daily grind of punting professionally.

10- I will always bet within my means and never bet more than I can afford to lose

Staying in a comfort zone may be dull, but it is a far better way of playing rather than putting your neck on the line every day. A well planned staking plan and strategy is worth sticking to and will ride out the bumps in the road that unseat so many players in their battle for profitability.

Happy New Year to all BettingExpert's!!