Mickey Slack asked 4 hours ago
The opportunity to cash in on sports betting online sports gamble has never been greater, but even with the necessary tools and betting systems that will be proven to generate a profit, a lot of men and women still find yourself losing money. This article looks at some of the most common mistakes people make that will turn the potential of profit into regular losses:
This really is a classic mistake that virtually all Gamblers make within their eagerness to earn money. You have a great method, that can statistically prove profitable, but there comes a run in the event the right conditions seem to dry up. Eventually, you get itchy feet and begin to manufacture bets that don’t match your strict requirements, forgetting which it was these strict requirements that determined your profitability. The inevitable happens, the profits turn to losses and in the worst case scenario your betting bank is blown! How do you avoid this? Simple, stick to the rules and be patient!
As a consequence of the above mentioned, or just during a bad run of results (which statistically will be going to happen) we’re going to find the classic mistake of chasing losses. After a loss, instead of taking it on the chin and sticking to the plan, the gambler will feel cheated and psychologically hurt through the result, vowing to win the cash back on the next bet and increasing the amount bet as a way to do so. Keep in mind, should the next bet loses the same happens and before you know it stakes and losses have spiralled unmanageable. How do you avoid this? Simple, again just stick to the guidelines and be patient!
Any money used for gambling should continually be viewed as a speculative investment in the same way as stocks and shares are, the cash used has to be totally separate through your own money and has to be money that one can afford to lose. If you do not keep a separate bank of cash for betting, your psychological attachment to it shall cloud your betting judgement as well as can contribute to your failure.
Just as nobody would decide the merits of a stock market investment on the basis of one day or one hours price movements, the exact same should be observed when betting for profit. It should be viewed as a long-term plan and the outcome of individual bets and daily or weekly results should always only be assessed within the context of the long term profitability of the method being used.
You need to keep records of all of your bets, it becomes all to easy to forget the losses and remember only the winners should you not have accurate records. With accurate records you will be able to view the performance of any system within your betting portfolio over-time and deal with any performance issues that this may highlight.
Most of the mistakes stated previously can be avoided by looking closely at the “psychology” of betting. No matter how good any system is you won’t win all the time. The way by which you handle your losses and manage your money will be the critical element in deciding your success.