November 14, 2012

I'm learning betting discipline

I've been betting on sports quite regularly for about 18 months. As with any hobby, I want to get better at it and my long term goal is to practice profitable sports betting. The total account balance is now pretty close to zero, no great wins or losses. Kind of a good time to think how to go forward.

As European ice hockey leagues were on break and I've had some time look back and see what happened this fall. In September I was quite excited when the ice hockey seasons were starting up. I was trying out my new betting system, only to find out that it was not working at all. The faulty system combined with some bad luck quickly burned up about one third of my betting cash reserve in less than one month.

I had no choice but to rethink the betting strategy. Early in October I was ready to test a new system with significantly lower risks and high probability of smaller wins. To my surprise I was able to compensate the losses made in September by the end of October. It's too early to say whether this was luck or if the new system was really working. Time will tell.

The September losing streak provided a very good learning experience for me. I was forced to follow the bets more closely and plan the necessary changes. Therefore I decided to continue reviewing my betting success monthly. If I ever want to get more serious about sports betting, some discipline is a must. That does not come naturally for me.

I also plan to post monthly summaries in the blog. The first actual report for November should be available early in December. Right now it seems it won't be a total embarrassment.