Newbie Matched Betting Insurance
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Hello all i am a beginner, sure ive made some nice profits and i have a very long way to go just yet!
I have a big mental issue with losses and has cost me lots of profit through not having the confidence to trust my ideas and actually get in the market.
I come from several years of matched betting and thought id share with you other new guys what i do to boost my confidence in my trade.... i use the free bets i generate to back-up my idea!
example - i have an inplay free bet with a large bookie tonight to the tune of £50 - i tend to get a 75% conversion on £50 FB that is for inplay so i know thats £35 free profit that i have coming my way.... That means i have a risk free £35 bank for tonights trades. worst case scenario is i loose the free £35, the up sides are i can make extra profit off the £35 and gain confidence through doing as apposed to wussing out and not getting in the market.
It gives a good deal of calm thinking and while i loose the £35 profit if i trade badly or have the wrong approach, i have effectively lost nothing.
Free bets are quite easy to generate if you have enough accounts that are not gubbed. If you too have a mental block through fear of loosing due to just starting out this can really boost the confidence.