Yesterday was not a good day for me in horse racing terms. I had 3 bets, two Dutching bets in which I backed 3 horses in a race to win a race and the one Dee Dee Lay. The first Dutching bet was won by a 7/1 shot coming from nowhere to beat my selections who finished 2nd, 3rd and 4th. The second was won by a horse backed in from 4th favourite to joint just before the off which would not have been so bad if that horse had not also been my lay bet.
There was a time when a day like yesterday would have really got to me. However I now take a reasonably relaxed view because I know that there will always be bad days. In racing no matter what system or method you use there will be setbacks. If you are serious about making money from your betting the sooner you accept this fact the better.
In Lesson 3 of Michael Wilding’s excellent course Puntology he talks about the Emotional Reaction to Losing (ERL). In simple terms these means that you have to have to be prepared for set backs and take a detached view. Certainly none of us like losing but providing you have a reliable system, a sensible staking plan and a reasonable sized betting bank it will only be a minor setback. You will live to bet another day.
The real danger of having a bad day is that you will be tempted to forsake your systems and try some rash bets to recover your losses. This is possibly the quickest way to see your entire betting bank disappear.
It is far more productive to take a step back and see if there was anything that you missed in making your selections. If your bank has shrunk significantly do you need to readjust your staking level? Horse race betting is a continual learning curve no matter how long you have been betting.
Yesterday may have been poor but today is a whole clean new sheet. Don’t abandon a system just because of one bad day, look back through your records is it showing a profit overall? Successful punters do not judge their success on a daily basis but on how much they make over a year. That is what is important.
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