How can I become a successful gambler? This is probably the most popular question among gamblers. People will buy books, read online guides, ask experienced players in their desperate attempts to become one.
The answer might come as a bit of a shock to you, but you can't. Before you rush to close this page, you have to realise that you can't be successful and a player at the same time.
We've all heard the stories of successful gamblers. They are like urban legends. But like any urban legend, they do not share the whole context of the whole story.
In this guide, we will try to explore and analyse the psychology of gambling and what you should avoid if you want to make extra money with sports betting.
Because even if you have the best statistics available, or if you have found and implemented an effective betting strategy, it does not guarantee that you will be a winner at the end of the day.
Play to win, don't play to pass the time
As we mentioned before, we are not interested in gambling, but in making a profit from sports betting. Have you heard any sports betting success stories? I probably have. It's all about smart betting, and only a small margin comes from casual gambling.
Imagine you've just got in from the office and need something to relax and pass the time. Betting in Zambia might seem like an attractive choice, but you're better off playing video games, reading a book, going for a walk or just going for a drive. While betting can be really fun, amateur punters are the bread and butter of any new betting sites for 2021 in the business.
Only log into your account after you've researched and already decided what to bet on. Betting is not and should not be a 24/7 business. When you bet just because you have nothing to do, you will have huge opportunities to lose.
Betting is all about making the right decision at the right time. You need to be calm, rested and relaxed. If you gamble all the time, you'll just never be there. Focus on your goal and do your best to make it happen.
Don't chase losses
You should think of betting as an investment and gambling as throwing a penny into the wishing well. This is the approach you should take on the inevitably bad days. Those days when things will go wrong. In such situations, the best thing you can do is simply admit that you've lost and put an end to it. There's no point in trying to cover your losses. Both in terms of investing and betting, chasing losses is without a doubt the stupidest thing you can do.
You should also completely erase those losses from your mind, look at where you might have gone wrong, and leave the rest behind. Don't even try to make up for what you lost the next day. It won't work, trust us. Just stick to your original plan, and you'll end up being duly rewarded. The psychology of gambling in sports supports us in this . When betting, you should be very calm when planning your next move. Frustration or anger is the worst advisor you will ever have.
Get your surroundings in order
Don't get confused. This is a betting tip, not another wellness or new age philosophy. It's actually common sense. Betting is an investment of your time and money. Just think of it this way. You would never go to work dirty or tolerate a dirty work environment. So why would you allow a room full of food delivery boxes and empty beer cans for your betting environment? It might look great for an album cover for a hard rock band or a movie set, but it's not suitable for investing in sports betting.
Psychologically, if your place looks like this, it could mean that you may be facing some personal issues that you need to deal with. Using bets to avoid everyday problems or routines won't help you. On the contrary, it can lead to addiction and financial ruin. If you want your betting experience to be successful and fruitful, you need to behave like an investor, not a player.
Understand and avoid a desirability bias
Read also: Prediction markets and sports betting are not as different as you might imagine
If you want to take steps towards a successful gamble, always remember that you are a betting man, not a football fan. Let's say you're thinking of betting on an anticipated UEFA Champions League match between Milan and Borussia Dortmund. You're a rossoneri fan, after all you grew up on football legends like Kaka and Shevchenko. Sadly, those days are long gone and Milan are in bad form at the moment. Dortmund, on the other hand, have the best squad and want to be in great form. Which of these two teams do you think has the best chance of qualifying? Obviously, it's the better team, not the club you support. Being a player and being a fan are two completely different things . You should not forget that .
Likewise, many players in the early stages won't take the time to research before placing their bets. They will just blindly back teams that look familiar or maybe have won something in the past. We hope you get past that level.
Don't get greedy
Back to our original question. What's the right way to bet on sports? Just stop being greedy. This is common knowledge when you create an account, but it also applies to almost all aspects of betting. Let's say you're betting £20 per bet and you've got five wins in a row. What's your next move? Increase the bet? You might say that just because you think you have a strong streak and want to win more. Well don't. You need to stick to your original plan to the end. That way, you can always control your wins and losses and not overdo it.
Another thing you should keep in mind is the betting system you will follow. Watch out for spoilers! There is no winning betting system. All experts give you tips and strategies, but in the end it is you who makes the final decision. Don't forget that. So don't think for a second that you might be using a perpetually successful betting system. Again, you need full control over this.
Finally, set the amount of money you will be satisfied with after you win. If you reach it, or get close to it, the next step is to retreat. Or even if the day turns out to be much more profitable than you might have expected, you should get out again at the end. There's no point in risking all your hard-earned money just to claim potentially the biggest win.
Miscalculation of counter availability
We couldn't hope to analyse all the mechanics of decision-making, but we do. Often you come to a decision just because you've heard or read something negative. For example, some people are afraid of plane crashes and therefore refuse to travel by air, even though they are statistically considered one of the safest means of transport.
This is a well-known misconception that can affect even the most mentally stable of us. As far as stakes are concerned, an affordability bias is bound to make you draw false conclusions.
For example, Hamburg were a highly respected football club in Europe in the early 80s and Valencia were close to winning the Champions League twice during the noughties. As we all know, they're not competing at the same level today. So if you're planning to bet on either the Bundesliga or the Primera Division, you shouldn't consider their glorious past. Their current squad is what matters and what will lead you to win money. Don't let previous matches between the two rivals influence your decision. Don't let yourself get carried away by something impressive that you might have read about (Valencia haven't lost to Sevilla in twelve consecutive years when they play at the Mestalla, for example). History can be great reading material, but it's the team and the form that wins the game.
Don't follow the herd
Imagine Liverpool play Newcastle at home. It's clear that the most likely result would be a win for the Reds. You'll probably include this match in your coupon. You and a million other players. There's a rather strange psychology behind the game. It's called a herd mentality. Many punters look for the most popular bets before making a decision. Bookmakers are savvy enough to single them out. Don't follow the herd. This will lead you to a certain long-term loss. Most punters fall into this group. A calm and well-informed player is a successful player. Do your own research and trust your instinct rather than following any trend. You won't regret it.
Clear your mind
It goes without saying that betting can lead to winning or losing money. And while winning certainly sounds like fun, at some point you should set some boundaries. Don't let betting become an obsession. You need to take frequent and big breaks from betting. That way, you won't become arrogant if you have a lot of wins in a row, and you won't get frustrated if things don't work out. You can think about how to make a living gambling every day. Even if you win, if you keep gambling from dusk till dawn, the next step is to admit that you are addicted. Y ou should always act as an investor, and choose the days and markets where you will place the best possible bets.
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