If you are afraid of losing, then you aren't ready to win – Bjorn Borg.

So often, the runner-up in a golf or tennis championship will admit that he played NOT TO LOSE. That is a lot different from playing to win. It's important not to play wildly, but to play under control. However, if you play under too much control, you will never make the big scores that can mean the difference between a winning and a losing season.

When you have a chance to make a real score, you have got to pull the trigger.

Some players want everything to be perfect. The horse must have the best speed ratings, a pace advantage, the best trainer, a top jockey. Unfortunately, these horses are not perfect and provide you no edge because everybody else can see exactly what you see, and hence they are usually over bet and of no long-term betting value.

You're going to have to take a shot with horses that have flaws.

Maybe they threw in a lousy last race, and there's always the chance that that race is a sign that the horse is going downhill and will throw in an even worse race today. Maybe the trainer is using a jockey he rarely uses, and you'll have to guess if that means anything. Maybe the horse looks as if he might get caught in a speed duel, but he's got a good chance. Other players have no problems playing longshots, but they bet them in such a way as to minimise their profits when they do happen to be right.

Learn More: 20 Tips To Get The Best Possible Odds

Fear is a difficult thing to overcome. "In the presence of fear you can feel nothing, but in the absence of fear you can feel everything".

You need to be able to feel everything at the track; what's happening on the tote and bookie boards, whether a bias is developing, how each horse looks in the mounting yard and warm-ups, and much more, and if you're consumed with the fear of losing, your mind will not be clear enough to concentrate on the tasks at hand.

If your only concern is getting the money, what happens if a day, or a week, or a month goes by and you don't get it? Will your fear of losses cripple your punting?

Some days you're going to lose. So be it. But if you start worrying about your daily wins and losses, you have a problem. And it's not just short money that causes fear of losing. Sometimes it's a social problem. We're at the track with friends, and sometimes it seems everyone is winning but us.

Betting the horses for serious money is stressful and requires the utmost concentration. Each bet is a separate event. Whether you're having a good day, or a bad one, shouldn't enter into your punting consideration.

Learn More: Variance and the importance of sound bankroll management

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