1. Never bet more than what you can afford to lose…
Betting is fun and can be profitable, however, no matter how successful you are

a losing run is inevitable. It is therefore vital that you stake within your means and that if your bet loses you are not going to end up in financial difficulty. I therefore recommend that you have a separate fund (or betting bank) for betting only. This will also make it easier for you to keep track of your profit and loss.
2 Do not chase losses…
If a bet loses it is natural to be annoyed and want to get your lost money back as soon as possible. Annoyance leads to rash judgments and bigger bets which is the fast way to big losses. Discipline is the key to successful betting – do not bet just because you lost, stick to rule 3. There are always more betting opportunities tomorrow.
3 Do your homework…
It is vital that before you have a bet you thoroughly research what you are betting on so that you are confident in your selection. Betting on a whim or simply because there is live sport on the TV and you want to have an interest in it is a quick way to lose money. Consider all options and only when you are confident place your bet.
4 Look for the best price…
When you have made your selection look at all the bookmakers and exchanges to find the best price available. Even a small difference in odds can make a big difference to a successful gambler over a period of time . It is therefore important that you have as many online accounts as possible.
5 Keep a record of every bet you make
This is a must do if you are at all serious about betting. It is the only way that you will know for sure whether or not you are making a profit or a loss. It doesn’t have to be complicated, a simple spreadsheet or even a notebook is sufficient. The record should contain details of the bet (event, amount, odds, bet type) and the result…
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