A lot of this has been said before but always worth repeating again.
Be disciplined - no punting for the sake of it, no "interest" bets just cos a game is on the TV (unless stakes are very very small), no late night NBA/NHL/MLB punts just because your sat at work bored and want something to get you through the night....Kiko
Keep a record - starting bank, note EVERY bet you make. Include bookies, price, commission, selection, competition, type of bet. This really is a must, probably as important as being disciplined and the two really go hand in hand. No "cheating" and forgetting to record the odd losing bet. My records tell me exactly how much I have on, which bookies have my money and whats my available balance at any one time. I had 1,268 bets last year from 1/7/05 to 30/6/06 and I have a record of every one in a spreadsheet.
A couple of things I picked up from record keeping.
Some who were about on old PL may remember I used to post selections in practically all the Scottish and English leagues, right down to Div 2. Some winners, some losers but not all my bets made it to PL for one reason or another.
At the end of two seasons ago I looked at my P/L broken down per competition. I found that I sucked at English Div 1 and 2. Not surprising really, trying to cover all relevant news in these leagues as well as the CCC and EPL and 4 leagues in Scotland. It was easy to miss something important, especially local news and you were really punting at a disadvantage at times.
So I stopped betting these two leagues, just like that, and more or less the Championship as well. EPL news was in my face every day, games were on the telly etc. I read a Scottish paper every day so kept up to date with Scottish stuff, the local news that someone down south may not be able to pick up on and the sort of stuff I was missing out on for Div 1 & 2 down there. Result is I made a much better profit last season from mainly sticking to Scotland, EPL and throwing in the odd CCC as the season progressed, mainly Reading. I think in total I had maybe 2 bets on Div 1, one loser and one winner. But overall I blanked these leagues completely, didn't waste any of my time looking at them, hell I couldn't even tell you who was promoted and relegated.
It was a similar story when I looked at my laying teams on
Betfair, thought I was doing well but in reality my staking was pish and my profit was actually a loss. Again, cut it out and it helps the bottom line figure.
Cutting down on both your less successful areas and the time you spend looking at these areas, which can be put to better use elsewhere, does wonders for your P/L and this can only be done through analysing your betting records therefore the need to keep a record really is a must.
Staking - as Mr M and a couple others have said, figure out what your stakes are going to be in relation to your bank. And stick to them. Review them every so often (again, from your records) and adjust accordingly.
There are two ways to go about your staking - fixed stakes or fixed profit (like Mr M). I know Doc has ran figures through his various test and he favours fixed profits as well. Me, personally, I am just more comfortable with fixed stakes.
I have essentially two types of bet I do. Based on current bank and stakes, one will be 0.5% of my current bank, the other will be 1.5%. These are pretty conservative figures in relation to my bank and probably mean I am not maximising my profit potential but again, its what I am comortable with, and that is important as well. You have to be comfortable with how much your punting. It also means its VERY unlikely I will ever go bust and if I did then you wouldn't see my round here again.
So stick to your stakes and make them a comfortable % of your overall bank. "Whole bank jobs" are for loudmouth wannabee's on the
Betfair forum trying to impress a load of people they are never likely to meet in real life. The day I start to see that sort of advice on here is the day I take up Mod rights and start deleting their ass
Screw bookies for their opening account/free bet offers - if there is a new bookies offer, take advantage. Stuff like
Mansion last season really had to be taken because your on a no lose situation and the only thing that can benefit is your betting bank. Don't feel its silly to lay of part of your feebie to guarantee a profit either way. Something is better than nothing. Its easily done if have patience and a good scan through comparable odds on
Betfair.
I have just done another couple of new accounts, bookies I have never had an account with before, walked away with nearly £60 in my pocket/bank through no risk. It all counts. If you haven't opened at least 40 online bookies accounts now then why not, there is money out there waiting for you??!!
You may also be able to pass some benefits on to
TDP if there is affiliate link in place.
.GIF "Thumb(1)")
Get a Neteller account and always take the best price - I have 38 bookies on my records for 2006/7. These are all accounts that I have used over the past season. There are probably about another 10 or so that I have just taken an account with to get freebie out of. 20+ my regular accounts take Neteller. All your High St favourites take it (Laddies/Hills), you
Mansions and
Betfairs take it and you open up markets at places like NordicBet and
Expekt with ease. Its an easy way to move money around and it means you will never say again "I wish I could get that 2.10 at Nordicbet but its a lot of hassle/overseas bookie, I will just take the 2.00 at
Laddies".
Take the best price when ever possible. Much like the free money, it all counts in the long run.
Thats about it for now, I am sure there is more and apologies for deviating a bit of the betting bank subject but I do think a lot of the above all goes together in relation to taking punting more seriously.
Serious Punting
) to lose £52 (and some pennies) or win £57 (54.15 after commision). Win takes bank to £577 ish and the next bet will be a lay to lose £57 or £58. 
TOTW/F/M Award(s): 1
