Investing behavior is a popular topic among financial experts and economists trying to learn how and why investors and markets behave the way they do. Many of their discoveries and conclusions are just as applicable to punters wagering on betting exchanges as they are to brokers and traders dealing on the financial markets. The difference is the fact that many brokers and traders are operating with other people’s money, meaning that they have to exercise strict discipline as they are liable to their clients. In contrast, the independent punter is usually only using his own money and has few restrictions on the he can do with it.

System discipline refers to fighting the temptation chase every seemingly good casino online bet in favor of sticking to a system which has been tested and shown to become successful. Most successful systems advise the bettor to have a fixed amount of money with which to bet (commonly known as a “betting bank”); require that some manner of analysis or review accompany each bet; and dictate specific amounts, percentages, or odds. The majority of these systems only work in the event the punter follows them perfectly, as adding variation changes the equations upon which the system is based. Nonetheless, since most effective systems only provide small but steady profits, many punters become overconfident, impatient, or greedy and begin discarding elements of their system. The result tends to be betting without a proven system and usually means the exact same hit and miss ratio as any random gambler.

The entire concept of system discipline is fundamentally counter intuitive to the typical punter. After all, he wagering on the outcome of an event that has not been determined yet. On the other hand, sport betting is just not like casino gambling where the outcome is totally random; instead, research and experimentation can – and does – lead to the development of systems that will radically improve the chance of winning. With that being said, these systems are only as good as the punter will be at employing them. Failing to be consistent, chasing after non-system bets that seem reasonable, and betting beyond one’s means all contribute to removing any advantage that a well thought out system may offer.

Once a betting system has been developed and proven, maintaining system discipline is the primary factor necessary to maintain steady winnings. Any and all variation from that system changes the total amount of cash won or lost, rendering the outcome derived exclusively from the system moot. Random betting on sports is a fool’s game because with just a little time and energy the punter can do much better.

The professional punter knows and understands that system discipline is the key to success. Using his system consistently, patiently analyzing each bet prior to making, refusing to get too greedy and accepting many small payouts over a couple of large ones are signs of a serious bettor that intends to make money. While anybody can get caught up in the excitement of wagering and clever bookmakers constantly make offers that appear good, the professional with a proven system knows better.