Setting a specific goal for the amount we want to earn from our betting, and time frame in which to earn it, is an important initial step that puts us firmly on the path to successful punting.

Having a realistic and achievable goal not only enables us to stick to our chosen betting strategy more easily when the going gets tough, but also helps to avoid bad habits such as loss-chasing and gambling.

So, what qualifies as a realistic goal when it comes to profiting from betting?...

Earning £500 each and every week? Erm, probably not...

What about taking home a £1,000 profit each month? It's possible, at least on average, but no straight betting strategy pulls in profit every single month without fail. In other words, losing runs must be taken into account when setting our goal...

Ok, how about a goal of £5,000 profit per year? This looks more realistic, and the annual time frame would certainly allow us to iron out any bumps in the road.

The Importance Of Aiming Low

The most succesful betting enthusiasts have the ability to put their ego aside for a moment, and aim at a goal that is relatively low but achievable.

This may sound counter-intuitive...I mean, shouldn't we aim as high as possible?

Well, it really depends on what qualifies as "possible"...

For example, is it possible to earn £1,000 each and every week from betting? No, not really. Maybe, just maybe, if you have several years of experience under your belt, and commit several hours each day to a diverse portfolio of straight betting, trading, and matched betting strategies, you might have a shot. But otherwise, forget it, and forget anyone who tells you otherwise.

Like with many online ventures, the betting niche has its fair share of unscrupulous types who will promise to make you thousands in a matter of weeks. But fantastical promises do not work in the real world, and we must be shrewd enough to spot when something is too good to be true, and avoid it at all costs.

Instead, why not be a bit more scientific about things? After all, the stats don't lie...

The following table allows us to roughly identify where we currently stand on the betting hierarchy, and we can use this knowledge to set a realistic goal:

Using the table as a guideline, we can estimate a realistic goal using the following equation:

Investment X (Annual Return / 100) = Annual Profit

Here are a couple of examples...

Example 1

A beginner is just starting out betting, and has a £500 bankroll to invest. They use our free Lucrative Tips service, which has historically generated a 53% annual return on investment.

Annual Profit Target: £500 X (53% / 100) = £265

Example 2

An expert with over 5 years experience has £5,000 to invest. They use our premium Racing Portfolio service, which has historically generated a 389% annual return on investment.

Annual Profit Target: £5,000 X (389% / 100) = £19,450

The difference between the two examples above are substantial, and indicates that the size of our investment is the single biggest factor in determining our potential profit.

Second to that is the annual return figure, which generally increases in line with our level of experience, particularly if we use our own betting strategies. Alternatively, we can choose to use a reputable service with good historical results, in which case our returns largely depend on the service used.

By increasing our level of experience at every opportunity, we have the ability to earn more, and by earning more, we have more to re-invest in our betting activities the following year, if we so wish.

In summary, the importance of setting realistic goals shouldn't be underestimated. It can make all the difference between someone who quits during a losing run, or gambles & busts their bank, and someone who sticks to a proven betting strategy over the long term, and produces a substantial return on their investment by the end of each year.

By setting a goal that is relatively low and realistic (i.e based on statistics), we can finally get rid of that pesky get-rich-quick mindset, and start treating our betting as long term investment.

This is where the key to betting success lies, the key all succesful punters use to generate a reliable income from their betting, and this should therefore be our foundation on which everything else is built.

And now, if you haven't already done so, it's time to set a realistic future goal for your betting.

The above table can be used as a general guideline, but of course much comes down to your level of experience, the amount you choose to invest, and the historical annual return for your chosen betting strategy.