The Bank

If there is one thing that professional gamblers have in common and that is their control of their money, their BANK.

I have read many books on Horse Racing betting and the one thing they all have in common is that they stress how important your bank is!

This is the first rule you should make up your mind to keep, even if you throw every thing else out... Keep your bank.

So how do you do that?

Quite easily...

Decide on a sum of money that you can use, either for the whole year, month or week.

Most professional gamblers start the year with a bank that they feel will give them the foundation for that years earning.

If you cannot afford to do this then simply break it down into months or weeks, and then put aside a certain amount.

It must be a sum of money that you will not miss and is available after you have paid all your other expenses out, food, mortgage, insurances etc...

Even if you can only afford £10.00 a week, you can still turn this into a sizeable sum.

Now take this money and put it somewhere else, either in another account or somewhere safe, so you can keep it away from the rest of your money!

If you wanted to you could actually open a betting bank with one or two bookies:

A word of warning, you should have more than one bookie especially if you intend to place many bets... This is covered in more depth later on.

By keeping a separate bank you will be able to keep a constant eye on how well (or not) you are doing.

It is equally important that you remember, that if you loose all the money in your bank do not replenish it until you can afford too'

If have done your own homework properly then hopefully this will not happen, but once it does, you must quit!

It doesn't matter if there is a “Sure Thing” around the next corner, until you can replenish you bank, next week, next month or next year, don't bet!

If you do, and you loose, then you start the very slippery slope to financial ruin and a professional gamblers worst nightmare!

Control your bank you will have your first and most important step to outsmarting the bookie.

Step 1 and Step 2 should stop you for ever having to top up your bank again!