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 will be only 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’s money, meaning that they must exercise strict discipline because they are liable to their clients. Conversely, 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 which has been tested and shown to become successful. Most successful systems advise the bettor to have a fixed quantity of cash 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. 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. Even so, since best systems only provide small but steady profits, many punters become overconfident, impatient, or greedy and begin discarding aspects of their system. The result tends to be betting without having 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 common punter. Of course, he wagering on the outcome of an event which has not been determined yet. Nonetheless, sport betting is not like casino gambling where the outcome is totally random; instead, research and experimentation can – and does – result in the creation of systems that may radically improve the chance of winning. With that being said, these systems will be 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 bring about 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 a little time and energy the punter can do far better.

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