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 since they are to brokers and traders dealing on the financial markets. The real difference is that many brokers and traders are working with other’s money, meaning that they have to exercise strict discipline since they are liable to their clients. On the flip side, the independent punter can be only using his own money and 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 possess a fixed amount of cash with which to bet (popularly 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. On the other hand, 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 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 average punter. After all, he wagering on the outcome of an event which has not been determined yet. Nevertheless, sport betting is just not like safe casino gambling where the outcome is totally random; instead, research and experimentation can – and does – contribute to the development of systems that will 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 end in 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 outcome 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 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 several large ones are generally signs of a serious bettor that intends to make money. While anybody can get caught up within the excitement of wagering and clever bookmakers constantly make offers that seem great, the professional with a proven system knows better.