Most punters are greedy; this greed clouds their view of what to realistically expect in return from bets. They spend virtually no time on the selection process, and are falsely overconfident considering they lack the knowledge needed to back up their decisions. They either back big prices, or odds-on shots mostly because of their attachment to money, or don’t see that these bets realistically have no chance of being successful with any consistency.

Their obsession with money means that they don’t look any further than the 15/1 shot winning them £75 off their £5 stake, or the odds-on dead cert that can’t lose.

You should be positive in your decision to place a bet, but don’t be greedy! Only expect to win long-term if you follow a good plan and execute discipline at all times. Being greedy will lead to failure and wipe out any money that you have built up. More importantly it will damage any faith or belief you had to succeed.

Punters that lose on a regular basis always try to regain their losing stake money regardless of a suitable opportunity being available. This crazy action usually causes them to lose even more money. Irrational behaviour of this kind can easily be rectified if simple logic and common sense are applied.

What they fail to realise is tomorrow is another day and there is racing seven days a week in the UK. There will be plenty more opportunities to profit from, but not necessarily on the same day. Patience, observation and planning will regain the winning thread sooner if not later.

There is no such thing as “Bad Luck” really as studies of self-made millionaires have proven. In one of those studies the most successful people were asked why they were so fortunate, nearly all of them replied; the best definition of luck is…

“Preparation meeting opportunity”

Have the patience to learn a skill properly – build your profits gradually, and only increase your stakes once you have gained confidence in your ability and reached a higher level of skill.

To summarize greed:

Don’t behave carelessly and chase losses. If you do it won’t take too long for your betting bank to be seriously depleted, or even worse wiped out. Be warned, if on any day’s betting, AFTER YOU HAVE PLACED ALL YOUR BETS you still incur losses. See it as a temporary hitch on the way to your long-term profit goals; stop and walk away until the next day. Professional punters may only find three or four bets a week on occasions, but they will be very strong bets indeed.