Betfair Trading – 6 Tips For Beginners

Betfair Trading For Beginners

Trading on Betfair can be a very exciting prospect and there are new people coming to sports trading on a daily basis.

Here are six Betfair trading tips to help you get started on your trading journey

Trading Psychology – Manage Your Expectations

A question that a lot of people ask when first starting to trade on Betfair is “How much can I make?”

This is a question that can’t be answered. Some people may go on to make large sums of money. Whilst others struggle to make any.

If you focus on the money but ignore the process you will struggle. The main question to focus on when you start trading is “how can I make money?”

Where is the opportunity?

How do the markets functions?

Why would this be a profitable strategy?

Becoming a profitable sports trader may take some time. It is important to manage your expectations and not expect too much too soon.

Your trading psychology is likely going to one of the main factors in whether or not you become a profitable trader.

Betfair Trading Beginners — There are a lot of options when trading its easy to get confused.

Focus On One Sport

There are so many options to look at when trading on Betfair. There is in-play trading or pre-event trading for a start. Then numerous sports to trade football, tennis, cricket, horse racing, basketball, darts etc.

It can be quite tough to know where to start.

Initially you might want to look at the different sports and how the markets react. Once you have found the sport that suits your trading style its time to focus on that one.

You can see that many of the best sports traders around specialize in one sport.

Caan Berry – Horse Racing

Psychoff – Football

Dan Weston – Tennis

Be Patient

Good trading is often about waiting for the best opportunities to present themselves. You need patience in order to gain the experience to spot these opportunities. Then you need patience to be able to wait for them to appear before executing your trades.

When I was starting out on my trading journey a full time trader told me “You can’t create good trades out of thin air.” “They are either there or they are not, just try to make the most of them when they appear.”

This sounded a little funny to me at first. But the more I learnt about trading the more this type of mindset makes sense.

You can’t force a good trade. Just because you lost your last trade doesn’t mean that laying the score in an Egyptian second division game for twice your usual stake is suddenly a good idea.

Keep Learning

After a while you will start to notice recurring themes in the markets that you are trading. Reactions to certain news, over reactions in some scenario’s, under reactions in others. The sports trading markets are constantly reacting to different bits of information and you can always learn from this.

Keep records of your own trading and note the instances that move the odds.

Do these instances create opportunity?

Are they likely to occur again?

Why did they happen?

Persistence Pays Off

There are going to be times when you make a mistake, where you lose money.

When I started sports trading and betting I thought I would be successful pretty quickly. I was wrong it took me a few years before I really understood how to make money from football trading.

It was from trial and error, reading lots of blogs, recording my trades, recording odds movement and chatting on forums. Eventually I started to see repeatable patterns which were profitable and I was only able to do this through persistence.

Manage Your Bankroll

When things are going well and every trade is a green one. It can be easy to get carried away and starting betting much larger amounts then you should be.

Over the long term things are always going to go perfectly. They will be losing trades, losing days, perhaps even losing months depending on your trading strategy and variance.

Making sure you keep your bankroll in tact is another huge factor in whether or not your going to make money in the long term.

Are you currently trading on Betfair, Betdaq or Smarkets?

Have any advice for new traders?

Comment below.

Cudworth’s Racing Lays Review – Laying Horses at Betfair SP

I have had three months of selections for Cudsworth’s Racing Lays service. The service focuses on laying horses at the Betfair SP. Which is a great idea as you don’t have to worry about missing prices or getting limited from bookmakers. The lay bets are emailed on a daily basis around 12.00.

How then did the service perform over a three month period?

Cudworth’s Racing Lays Review

It hasn’t been a good period for Cudwoth’s racing lays with losses coming quite regularly. Staking to £50 liability per race the total losses for the three month period was -£449.81.

The service also added a new element during the trial with 5 point back bets. There were only three of these bets over the testing period with two losses and one win. Early days for this approach but so far they have combined for a loss of -£31.

Key stats (Set £50 liability)

Overall results

Bets	108
Total Staked	£5400
P/L	-£449.81
ROI	-8.3%

Starting Bank

£1000

Current Bank

£550.19 (–449.81)

The official results for the service use a £10 per point staking system. This means that for each lay bet they aim to win £10. This staking method is also showing losses at -£202.

Cudsworth’s Racing Lays Review – Final Verdict

Despite really liking the whole idea of the service and its approach to laying at the Betfair SP. Results have been consistently bad and the service has never really looked like making any profit. On top of that if you add in 3 months subscription at £89.85 (3 x £29.95). Then you are looking at some heavy losses over the 3 month period.

I can’t recommend this service based on the results of the trial and it falls into the category of poor value.

[af_link id=”1620″]You can visit the official site of Cudsworth’s Lays here[/af_link]

Betfair Scam – “Wallet Management”

Unfortunately scam artists are in every type of industry.

In sports trading one type of scam that is used to lure in potential victims is called “wallet management.”

What is wallet management?

“Wallet management” is a concept that really makes no sense at all.

Lets take a look at my exchanges with a so called “professional trader” that offers “wallet management”.

Betfair Scam

Basically a “Professional Trader” will approach showing you lots of nice winning screenshots and green screens. They will tell you that they are a profitable trader and are willing to offer their services.

The scam artist will ask you to transfer money to their account or platform. The scammer will then claim to use the account to make money via trading. Promising you a high percentage of the profits for doing this.

Scam artists will target someone that is interested in sports trading. They do this via social media such platforms like Twitter and Facebook. Forums and email messages are also places where scam artists might try to contact someone.

Most people will realize that any professional trader that is consistently making money from the betting exchanges won’t need any type of investment. A profitable trader can reuse their own winnings and scale up their betting. By paying out a large commission on somebodies investment they are taking that money out of their own pocket.

There is no reason for any real trader to offer a service such as the one detailed above. If anyone does approach you offering this service then be aware that it is a scam.

If you want to start profiting from sports betting and trading. I recommend this service which is low risk and consistently makes money

Best Matched Betting Services In 2022 – Comparing The Top 3 Services

Matched betting is a great way to earn some extra money. More and more people have discovered this in recent years. If you really want to make the most out all the matched betting opportunities out there then you will have probably looked at a matched betting service.

Due to this surge in popularity there are more and more matched betting services competing for customers. Competition is good for us as matched bettors as it means we get better services and they have to offer us more value for our money.

What is the best matched betting service in 2020? – Profit Maximiser

Lets take a look at one of the first and most popular matched betting services.

Profit Maximiser was the first service that really showed you how to exploit every opportunity available. I had known about matched betting previously but after joining Profit Maximiser I realised there was a whole lot more money to be made.

What Does Profit Maximiser Offer?

Step by step guide to matched betting and exploiting casino bonuses
How to make money from bingo bonuses
How to take advantage of spread betting offers
Making money from reload offers
Private members Facebook group
Access to private member area
Matched betting calculators
Matched Betting Spreadsheets
Betfair Renegade (Betfair Value Betting Software)

My Experience With Profit Maximiser

Like I said previously Profit Maximiser really opened my eyes to all of the betting opportunities out there.

I found the service to be very professionally run. There are videos of the offers and walk through guides in the private members area. Help is on offer through email support if you have any questions.

Exploiting casino offers is the area that Profit Maximiser really excels in. Mike Cruickshank is really ahead of the curve when it comes to making money from casino bonuses.

Another aspect of Profit Maximiser that I really enjoyed was the Facebook group. It was really active with a lot of experienced matched bettors and useful advice being shared. Quite a few members of Profit Maximiser have gone on to make large sums from matched betting.

Best Matched Betting Service — Some members have achieved some big profits.

The whole service is very well put together. Furthermore the man behind Profit Maximiser Mike Cruickshank deserves a lot of credit. This service really was a big part in the growth of matched betting which has really exploded in popularity.

Profit Maximiser – Pros And Cons

Cons

No monthly subscription.
Initial Cost is £116 pounds for a years subscription.
Multiple up sells for other products (Each way Sniper, Accumulator Generator)

Pros

The original matched betting service
Strong and active community
Continuously developing the product (addition of value betting tool.)
Good value for your money

What is the best matched betting service? – Oddsmonkey

Oddsmonkey began life as a odds matching service and software provider for matched betting services.

A few years ago after seeing the rise of matched betting services they created their own. The ethos of the Oddsmonkey service seemed to be to emulate a service like Profit Maximiser but also add as much value as possible at a reasonable price.

What Do Oddsmonkey Offer?

Matched Betting Tutorial
New Customer Sign Up Offers
Bingo and Casino Offers
Oddsmatcher software (Odds matching software for arbitrage and matched betting)
Racing Matcher (Software that highlights odds matches for racing offers)
Dutch Search
Each Way Matcher (Software that highlights each way arbitrage bets)
Matched Betting Calculators
Spreadsheets
Matched Betting Forum
Acca Matcher (software that highlights profitable accumulator bets using bookmaker promotions)

My Experience With Oddsmonkey

After my Profit Maximiser subscription ended I joined a few different services to see what they offered. Eventually I settled on Oddsmonkey as I found that it was the service that by far offered the most value for my money.

The service is excellent with a clean interface that is easy to navigate. For £17.99 a month they really packed a tonne of useful software into the service. I mentioned a con of the Profit Maximiser service was receiving multiple up sells to other products. For example there is the Each Way Sniper (around £47 plus VAT) and Accumulator Generator (£148.99 plus VAT).

Oddsmonkey includes services similar to Each Way Sniper and Accumulator Generator with its £17.99 pound a month service. So as much as I like Profit Maximiser ,I believe that Oddsmonkey offered me much value for my money in terms of matched betting.

Another point that I liked about the service was that I wasn’t tied in to a long term subscription. If I was going away for three weeks and wasn’t going to use the service much I could cancel. When I was going to make full use of the service I could then sign up again. The subscription options offer great flexibility.

Oddsmonkey – Pros And Cons

Cons

Community not as active as other matched betting services

Pros

Most value for your money
Everything included with your subscription (no up sells)
Excellent Support
Service suits all levels of matched bettors (beginners to advanced)

What is the best matched betting service? – Profit Accumulator/Profit Ninja’s

Profit Maximiser and Oddsmonkey are the two services that I have used the most. However there are a lot of matched betting software providers looking to offer their services.

Profit Accumulator is one of the big three services. This is not a service that I have used but from talking to members of the service it is very similar to Profit Maximiser. Profit Accumulator have done a great job of marketing matched betting to the public.

Here is a great review of Profit Accumulator

They boast to my knowledge the biggest matched betting community around 20.000 plus members. Subscription cost either £22.99 month or £150 for the year.

(Update (2018) Profit Accumulator now match Oddsmonkey subscription qt £17.99 a month or £150 a year.)

Another service that I used for a few months was profit ninja’s. Profit Ninja’s is one of the lesser known services but they offer quite a good product. On top of a general matched betting product with odds matching software they also provide a few Betfair trading strategies.

They offer subscriptions for £10 a month or an annual fee of £100 with odds matching software.

Comparing Matched Betting Services

	Profit Maximiser	Oddsmonkey	Profit Accumulator	Profit Ninja’s
Monthly Fee	n/a	£17.99	£17.99	£10
Annual Fee	£116.00	£150.00	£150.00	£100
Free Trial	n/a	Yes	Yes	Yes
Refund Guarantee	30 days	30 days	30 days	n/a

Matched Betting Tools
Accumulator Matcher	Additional £148.99	Included in subscription	Included in subscription	n/a
Eachway Matcher	Additional £47.00	Included in subscription	Included in subscription	n/a
Odds matching Software	Additional £98.97	Included in subscription	Included in subscription	Included in subscription

Support Features
Member Forum	Yes	Yes	Yes	Yes
Email	Yes	Yes	Yes	Yes

What is the Matched Betting Service? – Conclusion

You can probably guess from this article which service I am going to recommend.

For matched betting Oddsmonkey is the service that I currently use and it continues to be the stand out matched betting service for me.

On top of it being such an excellent service. You trial Oddsmonkey yourself for 30 days. If you don’t get enough value for your money you can get a refund.

It’s a no brainer for me if your looking to make money from matched betting go with Oddsmonkey.

Jonas Gjelstad – High Stakes Poker To High Stakes Sports Betting

Jonas Gjelstad – High Stakes Poker To High Stakes Sports Betting

Who Is Jonas Gjelstad?

Jonas Gjelstad is a high stakes poker player who turned his attention to sports betting. Originally from Norway Jonas started playing poker at a young age.

Starting at low stakes sit and go tournaments before transitioning to heads up games. Jonas Gjelstad eventually Specialised in the game of PLO and quickly made his way to some of the higher stakes games online.

At the age of 20 years old he was appointed as an instructor for well known poker training site CardRunners.

Finding Value In Sports Betting

In the last few years Jonas has turned his focus towards sports betting.

Value betting was the approach that Jonas used initially to become a profitable sports bettor. Jonas stated that he would manually compare the odds between the sharp Asian bookmakers and soft European ones.

When the soft bookmakers offered greater odds then the Asian markets they would often become value bets after market movement. Jonas would take these value bets whenever they appeared.

Automating the process of finding value bets was one of the next steps in Jonas’s sports betting journey.

Jonas Gjelstad and some of his colleagues created a value betting tool which was later released to the public as Edgebet (which then later became Trademate.)

Finding himself limited from the majority of the soft bookmakers Gjelstad turned his attention to beating the sharper Asian betting markets. Applying what he learnt from studying the markets whilst value betting Jonas developed a way to profit from the sharper bookmakers.

In a video series which profiles Jonas Gjelstad’s sports betting activities he states that he turned an initial bankroll of $10k into $1,000,000 over 12 months time.

Whilst little is known about the way Jonas approaches the betting markets and how has been so successful. The way he has quickly progressed in both the poker world and sports betting world are pretty unheard of.

It will be interesting to see what the future brings for Jonas Gjelstad.

One thing is for sure he is obviously somebody who has mastered the art of gambling.

Resources

Jonas Gjelstad profile – video series

Looking to make money from the sports betting markets.

Check out our recommendations below.

Laying The Correct Score Tips – Betfair Trading Strategy

Laying The Correct Score Tips – Betfair Strategy

Goals are the most exciting aspect of a football match.

They cause the biggest odds movement and there are numerous strategies based around goals.

Laying the correct score in the second half is the strategy I am going to write about in this article.

When is the best time to lay the correct score?

Generally I like to the lay the score in the second half of the game in the final 30 minutes.

There are a few factors that I look for in a good lay the second half score trade.

Laying The Correct Score Tips - Betfair Strategy — Cup games are good for this strategy.

Urgency – There needs to a reason why a teams need to score and preferably as quick as possible.

One goal difference – I like there to be a one goal difference between the teams. Psychologically this can make a big difference to the way players react. One goal is always very attainable whether there are 20 minutes or 2 minutes remaining.

Home team losing/Cup game – These situations can create an urgency within a team to score. A rabid home crowd spur their team to push forward and can give a side that extra energy. It can also leave them open to the counter and exposed at the back as the pressure from fans builds.

Teams that generally score/Opposition stats – This is probably obvious but you want to look at teams that have a good goal scoring record at home. Also consider on average how many goals there opponents concede away from home.

Game Tempo – Being able to watch a game is an advantage as game tempo can be key.

Is the leading team looking to counter?
Are they wasting time using stalling tactics?
Is the referee stopping the game at every opportunity?
Are the crowd behind the home team? Changes in tactics/substitutions?

Laying The Correct Score Tips – Betfair Strategy

Example

Last night there was a game between Liverpool and Southampton in the league cup semi final. Liverpool were the home side and found themselves down 0-1 on aggregate. It got to the 60 minute mark and the score was level at 0-0 with Liverpool needing a goal to have any hope of qualification.

Given the conditions of the game meeting the factors above and Liverpool’s tendency to score at home I entered a lay bet on 0-0 at 3.35.

It should also be noted that Southampton were missing there best defender Virgil Van Dijk and this season had conceded twice as many goals in the second half compared to the first. These were other factors that I felt increased the likely hood of a goal being scored.

Liverpool pushed hard for the goal but ultimately it was Southampton who scored in injury time on the counter. The lay bet was successful £28.53 was made after commission for a stake of £70.50.

I prefer to trade the match odds markets pre match and in the first half. The strategy above however is a good one to consider in the second half if the right conditions are met.

This strategy is basically an outright bet on a goal being scored. Like all betting strategies you need to consider correct bankroll management and game selection to be successful in the long term.

Hopefully this article on laying the correct score will have given you a strategy to consider when trading the second half of a football game.

Resources

https://www.soccerstats.com/

Looking to make money from the sports betting markets.

Check out our recommendations below.

Paulo Rebelo – The Millionaire Football Trader

Who is Paulo Rebelo?

Paulo Rebelo is a football trader who is quite well known in his native country of Portugal.

In Portugal he has appeared on national television several times and runs the popular betting/trading website https://www.academiadasapostas.com/

Paulo Rebelo - The Millionaire Football Trader — Picture courtesy of www.paulorebelotrader.com/en

At the age of 17 Paulo Rebelo began studying the stock markets. Before going on to study at university.

Rebelo notes that he left university after the first semester as he was disappointed by what was taught. He began to study economics and began to develop and test theories on the stock exchange.

Failing to get a job in portfolio management due his age, lack of experience and no degree Rebelo returned to university.

The Betting Begins

When Paulo returned to college his interest in sports betting began. Consistent results and profits were made from “simple statistical analyzes” in Paulo’s own words.

Sports trading became a major focus of his.

After about a year of betting Paulo Rebelo found Betfair. He realised that he could apply everything he had learnt from studying the financial markets to the Betfair markets.

Rebelo eventually developed his own database and created a model which was able to identify profitable odds in the Betfair markets.

Live trading was Paulo’s next focus and he writes “after identifying, analyzing and correction of some mistakes done, I managed to step-by-step profit with live games. When I started winning consistently I dedicated myself exclusively to trading live.”

There is quite a lot of material from Paulo Rebelo available online. Although it is not perfectly translated into English there are still some useful bits of information and insights to be read.

You can learn more about Paulo Rebelo in the links below.

Resources

https://www.paulorebelotrader.com/en/paulo-rebelo-diary/

https://www.youtube.com/user/SirPauloR

https://www.onlinebettingacademy.com/

References

https://www.paulorebelotrader.com/en/about-me/

Looking to make money from the sports betting markets.

Check out our recommendations below.

Accumulator Betting Tips – Can accumulators be profitable?

Accumulator betting profits

Is there a way of making long term profits from accumulator betting?

Accumulator’s are a bookmaker’s best friend they love them.

In fact you very rarely see a bookmaker highlighting a winning punters success. If however that punter hit a 16 team accumulator for £150,000 you might here about it.

Those bettors that are able to find value week in week out against a bookmakers odds over the long term. Will likely find themselves limited to pennies or unable to bet.

Accumulator betting profits — My weekend accumulator

Why then do bookmakers love accumulators?

Bookmakers love accumulators generally because it compounds their margins.

A bookmaker margin is basically the percentage of profit a bookmaker would make if the amount of money bet on all outcomes of a game were equally balanced.

For example if a bookmaker has a 5% margin on a game this would mean they would expect to make £5 for every £100 staked on the game. In a way this is similar to arbitrage betting if a bookmaker has a perfectly balanced book then they are guaranteed a profit no matter the outcome.

So bookmakers in general love accumulator bets because its compounds that margin for them with each selection. A 5% margin on a single bet becomes much more with each selection that you add.

Making a profit from accumulator betting

It is possible to make a profit from accumulator bets and like all methods of betting its about finding value.

I have written about using Asian bookmaker to find value bets with softbooks before. We can use this same approach when making an accumulator have a positive expectation.

For this approach we need to find two or more value bets with the same bookmaker. Then put them in an accumulator.

You can see from the above that Marathonbet have Osasuna at 7.10 whilst Pinnacle have them at odds of 6.61. The no vig odds are 6.74 which indicates Osasuna are a value bet.

Betting in this way is still going to be very volatile but if you are going to place accumulators bets you may as well look for value whilst doing it.

Accumulator betting profits

Using bookmaker promotion’s against them

The best way to make money from accumulator betting is by using bookmaker promotions against them. Oddsmonkey is an excellent matched betting service and has something called the “Acca Matcher” which was created just for this.

Accumulators are such a big money earner for soft bookmakers they want to entice people to bet on them. A popular promotion is “back 5 selections get a free bet if one loses.”

This offered by William Hill, Coral and Ladbrokes alongside several other soft bookmakers.

Accumulator betting tips — Oddsmonkey’s Acca Matcher find the best value accumulators available

Selections from the bookmaker are found by Oddsmonkey which are close in price to the Betfair lay odds. This means generally they are close to the true odds.

The Oddsmonkey “Acca Matcher” then uses the Betfair odds alongside the bookmakers money back promotion to show you the expected long term value of placing that bet. There is also the option to lay these selections on the betting exchanges to guarantee small profits.

This process can also be done manually by searching for odds close to the Betfair lay price yourself. Oddsmonkey just enables you to do it quicker and works out the calculations for you.

Bookmaker’s accumulator promotions are a great way of creating accumulator bets with a positive expectation.

I hope this article has given you a few ideas on how to make money from accumulator betting. When used correctly it can be a good way of keeping under a bookmakers radar whilst still extracting some value.

Dobbing – Betfair Trading Strategy

Dobbing Betfair Trading Strategy

What is Dobbing?

Dobbing stands for “double or bust” it is a Betfair trading strategy used on the horse racing markets.

The Dobbing Betfair strategy involves backing a horse pre race and having a lay bet matched in-play at half the odds of the initial stake.

The aim of a Dob (double or bust) bet is to make a profit that is even to your stake essentially doubling it.

Lets take a look at an example of a potential Dob bet.

In the above image you can see that I have put in a potential back bet of £100 on Bonnie Gals at odds of 5.00.

I have also placed a potential lay bet of £200 at odds of 2.5. If both of these bets were matched you can see that this would equal a profit of £95.00 (£100 – 5% commission) across all outcomes.

If the lay bet is not matched in-play then you would lose your stake, this is where the bust part of the name Dob (double or bust) comes from.

Dobbing essentially works like a straight betting method where you are getting odds of 1.95 ( After 5% commission) on every bet.

Dobbing Betfair Trading Strategy

How to find a good Dobbing Horse?

The double or bust strategy is one that is quite popular so there are a number of good resources available online.

Patternform for example has an excellent page showing you the historical percentages for horses that have dobbed in the past.

Dobbing Betfair Trading Strategy — An example of the Patternform Dobbing overview.

This is a good starting point when looking for a horse that will potentially Dob in-play.

There are several factors to take into account when choosing horses that will be a successful Dob trade.

For example you might look at filtering horses that have historically dobbed 75% of the time, look at whether they favour specific courses, Are they likely to lead the race? Weather conditions? Do specific odds ranges work better?

The pace card is another excellent resource from Patternform which gives you an indication of likely front runners in a race.

There are a few different variants of this method with some people opting to try to take more then 100% profit on there stake and others taking less. The most common method however seems to be for people to aim for basically an even money bet minus the commission.

Dobbing can be a profitable angle to consider when looking at trading the horse racing markets and might be something to consider having in your trading arsenal.

Matched Betting to Sports Trading – What’s Next?

More and more people are moving from matched betting into sports trading.

Matched betting is a great way for anyone to get involved in the sports betting and trading markets as it is the easiest way of making money. Eventually bookmakers remove any bonus eligibility from your account or in some cases (Boylesport) close your account all together.

Matched betting is a great introduction into sports trading as it shows people that money can be made from the bookmakers. You should also become familiar with the betting exchanges and how they function.

Life after matched betting what’s next?

Value Betting

First off you should still have a lot of bookmaker accounts left. There is still the potential to make more money from these accounts and value betting is probably one of the best ways of doing it.

By exploiting the fact that many bookmakers move their odds slower then the sharper Asian bookmakers such as Pinnacle we can find odds that offer good value.

Sports Trading

At this point you are familiar with the betting exchanges and are looking to start making money trading. There are lots of potential options with sports trading.

Which sport? Pre match or in play? Lay drifting horses? Back potential steamers? Lay low odds in Tennis?

Its important to find your focuses and break down the sport that suits you best. Which sports are you most knowledgeable about? How much time have you spent looking at the markets? What have been your most profitable markets?

Sports Betting

Matched betting might have allowed you to build up a big enough bank to consider going into sports betting.

One way of taking on sports betting is to build up a portfolio of proven profitable tipsters and looking at sports betting as a long term investment.

Matched Betting to Sports Trading

Major differences?

You will lose sometimes

This is the big difference from matched betting to sports trading and betting. If you have been matched betting you will be used to constantly racking up the profits but trading and betting is a different animal.

Losing money is never pleasant but it is inevitable that at some point you will lose money and you have accept this as part of the game.

If you look on social media you tend to see lots of nice screenshots of winning trades or people going 5/5 in sports betting for the day. If you are not experienced this might give you the impression that sports bettors and traders rarely lose but in truth everybody has losses.

Once you accept that losses will happen it makes it much easier to find long term profitability as you aren’t constantly changing strategies, sports or tipsters.

Learn about variance

This ties into the above buts it is really important to learn about variance.

Variance in the short term can make us believe an unprofitable strategy is profitable and a profitable strategy unprofitable.

If you start to build an understanding of variance then it diminishes the stress and shock of losing periods or losing trades.