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 because they are to brokers and traders dealing on the financial markets. The main difference is the fact that many brokers and traders are working with other folks money, meaning that they will exercise strict discipline as they are liable to their clients. Nevertheless, the independent punter is generally only using his own money and has few restrictions about 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 have a fixed quantity of cash with which to bet (also known as a “betting bank”); require that some manner of analysis or review accompany each bet; and dictate specific amounts, percentages, or odds. Most of these systems only work should the punter follows them perfectly, as adding variation changes the equations upon which the system is based. Nonetheless, since most beneficial 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 with no proven system and usually means the same hit and miss ratio as any random gambler.

The entire concept of system discipline is fundamentally counter intuitive to the common punter. In the end, he wagering on the outcome of an event which has not been determined yet. Nevertheless, sport betting is just not like trusted online casino casino gambling where the outcome is totally random; instead, research and experimentation can – and does – bring about the creation of systems that may radically enhance the chance of winning. That said, these systems are only 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 lead to removing any advantage that a well thought out system may offer.

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

The professional punter knows and understands that system discipline will be 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 number of large ones are generally 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 appear excellent, the professional with a proven system knows better.