Norma Beardsmore asked 21 hours ago
The chance to make the most of sports betting online has never been greater, learn here but even with the essential tools and betting systems that are proven to create a profit, a lot of men and women still wind up losing money. This article looks at some of the most common mistakes people make that can turn the potential of profit into regular losses:
This is a classic mistake that nearly all Gamblers make in their eagerness to earn money. You have a good method, which will statistically prove profitable, but there comes a run when the right conditions appear to dry up. Eventually, you get itchy feet and start to manufacture bets that don’t match your strict requirements, forgetting that 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 guidelines 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 will find the classic mistake of chasing losses. After a loss, instead of taking it on the chin and sticking to the program, the gambler will feel cheated and psychologically hurt through the result, vowing to win the cash back on the next bet and raising the amount bet as a way to do so. Of course, in the event the next bet loses the same happens and before you know it stakes and losses have spiralled out of control. How do you avoid this? Simple, again just stick to the rules and be patient!
Any money used for gambling should often be viewed as a speculative investment in the same way as stocks and shares are, the money used has to be totally separate through your own money and must be money that you may afford to lose. In the event that you do not keep a separate bank of cash for betting, your psychological attachment to it will cloud your betting judgement and 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 same should be observed when betting for profit. It should be viewed as a long term plan and also the outcome of individual bets and daily or weekly results should always only be assessed in the context of the long term profitability of the method being used.
You need to keep records of all your bets, it becomes all to easy to forget the losses and remember only the winners if you do not have accurate records. With accurate records you will be able to view the performance of any system in your betting portfolio over-time and handle any performance issues that this may highlight.
A lot of the mistakes above mentioned may be avoided by looking closely at the “psychology” of betting. Regardless how good any system is you won’t win all the time. The way through which you handle your losses and manage your money will be the determining factor in deciding your success.