If you are serious about making money from your betting then there are four key factors that you will have to embrace in order to be succesful.

We have written about them all before but today I wanted to list them all in one place.

We have listed them below in reverse order of importance.

4. Winning Selections – Yes that's right the least important factor in betting success is a source of winning selections!

I know many of you reading this won't believe this and maybe this is where you'll stop reading.

But I promise you it's true.

Your selections, ideally, need to be selections you have found yourself or from a semi exclusive source.

It's a fact that it's harder to make a profit with selections from the daily papers that everybody has access to.

The most profitable selections will be ones you have to pay for.

You can pay with time or money or a combination of both.

3. Money Management – Boring but true and so important. Proper management of your stakes and your betting bank can be the difference between success and failure.

2. Mindset – Again boring maybe but honestly good mindset and money management skills are more important than selections. Many a gambler has had access to great winning selections and still lost.

1. The number one success factor is the key to everything. Get this right along with 2 & 3 and 1 matters even less.

The number one success factor is price. Any selection method, as long as it gets some winners, can be profitable if you can get the right price.

There are two aspects to getting the right price.

One is knowing whether a bet is value or not. By that I mean if you think your horse has a 50% chance of winning then you have to get odds of better than even money.

There's been plenty written on how to work out a value price for a selection, but a starting point is to just work out how many true contenders there are in the race. Horses that you think have a real chance of winning. If there's 3 including yours then look to get at least 3/1.

Your value calculation will improve over time but this is a good starting point.

The second part of the number one success factor is getting the right price.

The real pro's who make their living from betting invariably factor in a method for beating the odds.

Take for example Colin Leafe (from Colinleaferacing.com).

Colin's number one aim is to beat everybody else to the best prices every morning.

He has his selections worked out and with his members by 10.30 and they get the odds before the money starts coming in later in the morning. At this time of day the right prices are readily available for all that want them.

I don't want to rant on, but you really should be as focused on getting the best price as you are on making the right selection in the first place.

Today's Selection courtesy of the Winning Information Network

3.50 Newton Abbot – Minella Stars 10/3 (Paddy Power) Win Bet

4.20 Newton Abbot – Kapdor 13/2 (William Hill) Each Way Bet