Get The Betting Strategy then The Right Tools!
A friend of mine who shall remain nameless has been trying for ages to make money on the betting exchanges. Every few weeks for the past few years I get a phone call from him and it is a repeating pattern of dead ends and failure.
His primary failing is that he lacks a betting strategy and has blatantly never had one. He seems fixated by trying to find quick fix solutions that will short cut having to work hard. I wish him the very best of luck but he is doomed to failure in my mind. For example he persists in using a piece of software called “BetAngel”.
This is a great piece of software and I should know as I use it personally. It has many different functions that are highly pertinent to operating on betting exchanges and its best feature in my mind is the “greening up” button which allows you to take a guaranteed profit whatever the outcome of the event.
But the point is that however good these software items are, they are merely tools. It really isn’t much point selecting tools to do any job if you have no idea what job you are going to be doing. This is the chronic mistake that my friend is making; he hasn’t got a strategy and expects the software to do everything.
It cannot possibly do this, it is merely an aid to be able to place and accept bets far faster than having to go through the normal online betting exchange interface. Software tools of this nature are an aid to experience and a good sound and solid strategy, they are not a substitute for them and never can be.
It is difficult for many people because they cannot differentiate between tactical and strategic measures. This gives them a terrible handicap when it comes to trying to make money on betting because they are then using short term tactical measures without having a clearly thought out long term strategic plan.
Wars for instance are essentially won by one country’s strategies prevailing over the other. Tactics tend not to win wars as they merely implement strategy. But getting back to the example of my friend, he has made the error of selecting the tools and then has gone out to try and find a job to fit them. I remember a similar situation a few years ago when another friend of mine was seriously considering getting into serious debt to become an options trader.
The disturbing thing about all this was that he had no experience or knowledge of trading in financial markets and he didn’t even know anything about options above and beyond what was already basic knowledge. He was basing his entire plan on a piece of software that showed him information in chart form.
It was a great piece of kit and looked quite striking as it drew updated information down the phone line in real time. But no matter how good a piece of software is, it cannot do your work for you if you have no basic foundation in the field that you wish to operate.
What you will be up against when doing this is the large number of experienced professionals who have the savvy to back it up and know when to take the advice of the particular program and when not to. It doesn’t matter whether you are trading on the betting exchanges, playing online poker or financial trading, software packages are merely a tool for hardened experience and it also takes experience to get the most out of them……so buyer beware.
Carl “The Dean” Sampson
