Our aim here is to highlight these common areas of failure in the hope that I can speed up your learning curve towards successful betting.

MISTAKE NUMBER ONE

Failure to Use Betting Banks

Most gamblers fail to understand that the best method of achieving a healthy and sustained long term profit from racing and betting in general is to set aside a sum of money away from your main finances, solely for betting purposes.

Whatever method or system you are using, whoever you are following or subscribing to or however your own bets are calculated, you are better off with a "Betting Bank" that has built -in advantages that can help you. It needs to be independent from your own personal finances and needs to be protected from factors that can threaten it. This can take a lot of emotion out of the decision making process. Emotion is a factor that threatens all punters.

The size of your betting bank will of course be dependant upon your own individual circumstances and free capital available. An analogy to the world of shares perhaps may be that no financial advisor worth his salt would advise you throw all your capital into the stock market alone.

The vast majority of punters fail to use any form of set aside bank. They bet randomly with what ever money they have in their pocket at the end of the week or go in too deep with stakes far in excess of their personal safety levels.

A punter with a professional attitude will set aside what he can comfortably afford to invest and then determine the best use he can make of that fixed sum of capital.

With a fixed sum of capital available you now move on to the next reason for failure.

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