Years ago I came accross a poem by Rudyard Kipling – If. In it there’s a couple of lines that really resonated with me when it came to betting:
“If you can meet with Triumph and Disaster
And treat those two impostors just the same;“
It’s simple, don’t get excited when you win and don’t get dispondent when you lose. If only is was that simple. Years ago I’d spend the days where I’d placed bets in a state of nervousness, watching a results website for a change in score or watching the prices flash by on Betfair for a horse race, feeling ecstatic when a goal went in or devestated when the score just didn’t go my way. Over the last few years I’ve been bumbling along, winning a bit here, losing a bit there and not having any emotion when either happened, so I thought I’d cracked the emotional and mental side of betting for the time being, however I knew the test would be when I increased my stakes.
I upped my stakes at the start of this journey in August so expected the testing times to come. As you may be aware I subscribe to Will Lattimore’s excellent service, he rattled up 50pts profit in August (kerching!) and had rattled up just short of 90pts (double kerching!) in the first 11 days of September. Up to this point the FTS One LTDs hadn’t being performing like we all hoped and dreamed of, but I’d made more money in 6 weeks than I had betting in the previous 3 or 4 years so life was good and although I wasn’t bursting with joy, I could feel a sense of happiness and contentment.
On the 12th September Will had 5 selections with not one winner and LTD had yet another losing day. I expected to feel down after the recent weeks wins but I didn’t, it’s hard to describe the feeling I had, looking back I suppose I was deflated, it was certainly a strange feeling and something I never expected to feel. It only lasted for a short while and didn’t impact on my life in general. The following day Will had 3 selections and all 3 won, adding 15pts to bank and as you would imagine I got a feeling of happiness so was was back to having what I would call ‘normal’ feelings when it came to my betting. Since those two days Will’s service has been simmering along without any major ups and downs, keeping my feelings on an even keel, whilst the FTS One LTD selections would appear to be doing all they can to upset me.
There is no doubt that betting has the potential to give you massive highs and lows, which in turn has the potential to wreck your life, so for me I need to aim for IF point of view. Taking a moment to think about it, I’m definitely on the road to achieveing that, but there’s still a way to go and I personally believe that it’s essential for me to actually get there in order to get to a position to bet for a living and not become a mental wreck on the way.
Here are the things that have helped me manage the ups and downs of betting:
- I accept I may lose my bank and don’t use money I need for something else.
- Having the correct size bank/number of points to handle losing runs.
- When looking at results I only work in points and not in £’s. A loss of 5pts is easier to handle than £100 (5 x £20), £500 (5 x £100) etc.
- I focus on the points remaining in the bank rather than the points lost on a given day or so far to date.
- I don’t keep an eye on the results/scores, I just get on with my day and check last thing at night or first thing the next morning.
- I look at each system as a long term money maker and not a quick fix.
Do you struggle with the emotional and mental side of betting? If so how do you handle it?