Hello and welcome to the 4th part of this 10 part series of posts we’re doing on the Top Ten Betting Mistakes Gamblers Make and How to Avoid Them. In this part we’ll be talking about having a lack of a value of appreciation. And while we are talking about betting mistakes, and using horse racing as examples, these and this mistake in particular can be applied to all bets!
Because when it comes to the value of bet, it’s all about how much you appreciate that bet that determines the success you have over a long period of time. And to do that, and make a profit over many bets over a long time, you’ll need to be placing bets on races and games where the odds are better than what your selection will be. And again that goes for all betting types too.
In order to achieve this level of success over a long period of time, you will have to focus on races and games that take place individually and find the core value in the bets you place in those races and games. Of course, in every race or game there is value to be had based on the potential returns for correct bets. The value of that bet is knowing exactly what the right bet is to make.
I’ve seen many punters in the bookies and at casinos lose a game and then screw up their betting slip and say something like “Oh well, I had a good go” or “I was confident in that”. But there’s no correlation between the prices of a bet and their value in returns. Take a 33/1 chance for example, that might seem like a potentially disastrous bet but has surprising value in returns.
Of course, it doesn’t mean that the bigger your bet will be, the more value it will have. Sometimes the value in that bet is not always visible at first and needs a trained, experienced eye to see it. That can be clear sometimes in some races, but not so clear and even well hidden in others and only those that know how to look for them will find them among the numbers.
Well when it comes to racing games in particular, everyone seems to have some foresight into who they think will win it. But like life, it’s a game of decisions and actions and those might not always result in a win for the most favorite racer. A bitter sweet pill to swallow for those who can’t bet on a winner from these numbers and experience but a blessing for those that can.
And I don’t mean to sound cliche, but it’s like they say, the value in a bet is one that’s based on the chance it has more than the actual return it will net you. In fact, the returns or wins are only a very small part of the whole decision making process in the first place. Obviously you need to bet correctly in the right way, at the right races, and hit those wins to make bank with.
One way of doing that is to always keep trying to increase the value that you have in low bets that you make. That means not taking the first price that comes out and waiting and monitoring it to see if it drops. Basically making small improvements on the odds so you can get it at the best rate and also get increased odd improvements on all of your bets which results in more winnings.
So as you can see, it pays to place more value in your bets.
Don’t become complacent and find the right one from the numbers.