Olshan Mort was the founder of the most trusted betting magazine in the U.S. named ‘Gold Sheet’. He was a sports betting guru who promoted intelligent betting through his magazine, which had considerable influence on Nevada’s multimillion-dollar sports book and sports betting industry. He wrote three books including “The Winning Theories of Sports Handicapping” and died in Beverly Hills after a long illness at the age of 78.
He mentioned many good tips that many of us may disagree. It is not necessary to agree. There is not only one right way.
Τhe advice below were written in the winter of 2001:

1. Know what it takes to be a winner

With 52.38% (*the usual odds that given everywhere in America on handicaps and totals: 1.91), you are on your money. Experienced professionals know that at least 50% of handicaps are judged by luck. With a 55% percent, you should be super happy.

2. Do not be undisciplined in the management of your money

You should not let the loss to discharge, or paralyze yourself. Do not take undue and impulsive decisions. There is no Law of averages in betting. It’s not a law. It’s the fallacy of a gambler.
Never bet more than twice of your regular bets, not even if you feel ‘sure’.
Trying to chase your losses can be a curse. See it as a boxing fight of 12 rounds. You will not win on every round. The total final decision is what counts.
Establish a stable betting style. Neither too fast nor too slow. Moderation is the key to success, as in life.

3. Lack of patience

Do not rush. Look for any advantage at the odds and the rating of your team selections. Always look for the best odds and the best handicap. Half a point every so often, is the difference between a loser and a winner. Do not bet on poor odds. If you have only one source (for example a bookmaker), you’re always at a disadvantage.

4. Do not fail to set priorities

You need to know the most important predictors. Do not get puzzled from insolvent information or useless data. Compare the key advantages and disadvantages of both teams. Analyze what each team need to do in order to beat the opponent. Determine if there are any special psychological factors that can give the advantage of incentives.
Do not get obsessed with favorites. Remember this: You can usually find five-fold reasons to bet on a favorite. That’s human nature.

5. Do not blindly follow any unfounded technical trend

For example: Teams who eat ‘fish’ at the day of the match, have 69-13 record against teams who eat ‘beans’ at the day of the match.
A technical ‘trend’ or ‘tension’ is only meaningful when it takes into account the individual characteristics of each team. Do not wipe out from numbers that are mostly random.

6. Do not bet with your heart, but with your mind

There is no need to get tied emotionally with your favorite teams.
Do not wipe from the latest matches, or a match on TV that impressed you. They have not much to offer for a balanced and intelligent research. Such appearances are usually isolated and may distort a more prudent asset. Only a few teams are actually as good as inquiry show when winning, or as bad as they appear when they lose.
Do not give great importance to the flashy skills of a team. Willfulness, motive and defense are usually override an impressive attack.
Do not take extra bets on crap teams. This will may help some times, but rarely give total profit.
Overall, it’s not a bad strategy to go against a ‘conventional wisdom’.

7. Do not be swept by ‘evil’ information, rigged, etc

Kinky information may exist, but you probably will not find even one erected in your life. There are always rumors, often spread by some who want to influence the odds in their favor. Generally, when something is so reliable, is rarely available to the general public.
Olshan Mort..

http://www.betshoot.com/blog/7-tips-for-betting-by-olshan-mort/
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