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 since they are to brokers and traders dealing on the financial markets. The difference is that many brokers and traders are operating with other people’s money, meaning that they will exercise strict discipline as they are liable to their clients. Nevertheless, the independent punter may be only using his own money and it has few restrictions on what he can do with it.

System discipline refers to fighting the temptation chase every seemingly good bet in favor of sticking to a system that has been tested and shown to be successful. Most successful systems advise the bettor to possess a fixed quantity of money with which to bet (often called a “betting bank”); require that some manner of analysis or review accompany each bet; and dictate specific amounts, percentages, or odds. These types of systems only work if the punter follows them perfectly, as adding variation changes the equations upon which the system is based. Nevertheless, 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 having a proven system and usually means the same hit and miss ratio as any random excellent online gambler.

The whole concept of system discipline is fundamentally counter intuitive to an average punter. After all, he wagering on the outcome of an event that has not been determined yet. Even so, sport betting isn’t like casino gambling where the outcome is totally random; instead, research and experimentation can – and does – contribute to the creation of systems that can radically enhance the chance of winning. That being said, these systems are just as good as the punter is at employing them. Failing to be consistent, chasing after non-system bets that seem reasonable, and betting beyond one’s means all result in 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 required to maintain steady winnings. Any and all variation from that system changes the exact amount of money 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 effort the punter can do far better.

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