Avoid Betting System Scams – Part 6
Don’t Bet The System on Day One(!)
OK, so you have followed the warnings in our previous tutorials:
- Over zealous claims on sales web page avoided….. check
- Bogus screenshots avoided….. check
- Can get a refund if not happy….. check
- Product has trial period….. check
- Googled seller, passed….. check
- Googled product, passed….. check
If you’ve done this much, you have a decent chance that on your screen or printed out in your hand is a promising betting product. But that doesn’t guarantee you will make money. For a lot of people, their biggest mistake is not buying awful betting systems…
It is failing to paper trade.
Let me say this again in another way to make sure I have got the point across…
You must simulate trading first.
This is SO important.
Following the advice above means you have at least one of the following two ‘luxuries’ afforded to you:
……..a) You have a refund period, during which you can get your money back
……..b) You have a free trial, during which a cancellation will mean you paid no money
Take advantage of this period to establish whether the product is for you. Ask yourself:
……..i) Does this product suit my betting style?
……..ii) Do I have enough time to find the selections?
……..iii) Is it profitable?
……..iv) Am I comfortable with the losing runs / liabilities / required betting bank?
Take the time you have to understand these things. This will also hopefully ensure you don’t dive into the next ‘wonder system’ a day or two after acquiring the previous one. Paper trading is almost as much fun as real trading. In fact, if you’ve acquired a dud, it’s a LOT MORE fun! So be patient, and track the results sensibly for a period of at least a fortnight (and ideally for the full duration of the trial or refund period) before risking any of your ‘folding’.
If you are familiar with spreadsheets then set one up for the system. In this way you can look back over your ‘virtual’ bets and remember things that you will rapidly forget as time goes by. If you are not familiar with spreadsheets then we suggest getting someone to help, or even learn how to use the basics. What you will need to set up a spreadsheet to paper trade is very simple, so it will be well worth finding out how to use them.
To help you get on your way with what you should have in your spreadsheet, here are a few basic pieces of information to record:
- Date and time of event (race, match etc)
- The event that you are ‘virtually’ betting on
- The Odds that placed your virtual bet
- The Stake of your virtual bet
- The outcome of your virtual bet: Win,Lose or ‘No bet’ (No bets occur because of withdrawals, cancellations etc)
- The gross profit of your virtual bet
- The net profit of your virtual bet (taking into account betting exchange commission, where applicable)
- Comments (very important to make any notes to look back on)
We’re moving ever closer to putting that first bet on. But this is a key step to growing your confidence in operating the system your have just bought and to asses its suitability.
If you’re still wondering which migt be a good system for you, let us suggest that you take a wander over to the OnlineBettingExposed list of Betting Systems Reviewed.