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Psychology of sports betting
There are two
things you can count on as a lifelong sports bettor:
- You will have winning streaks.
- You will have losing streaks.
The big difference between a successful bettor
and a losing one is the way these streaks are interpreted and acted upon.
When on a winning streak, bettors are often
tempted to drastically increase their bet sizes and take short-cuts with
their homework.
When on a losing streak, bettors often start
to doubt their judgment and have trouble pulling the trigger on bets. Or,
even worse, they get desperate and try to pull back cumulative losses with
one big bet.
The road to success in sports betting is
long, slow, steady.
For many bettors, though, three or four
consecutive results -- whether positive or negative -- can be enough to
drastically alter their strategy. Statistically speaking, however, these
short-term "streaks" are completely normal in any long-term
distribution of results.
When you are on a winning streak,
remind yourself of the following:
- You are not a genius -- be humble
- Be patient; you still need to do your
homework
- Chances are, you have had some good luck
- Again, be humble
When you are on a losing streak,
remind yourself of the following:
- You are not cursed -- be positive.
- Be patient; opportunities will arise in due
course.
- Chances are, you have had some bad luck.
- Again, be positive.
Being completely emotionless is next to
impossible. But the more you start to understand your emotions and how they
tend to influence your wagering actions, the better results you are going to
see.
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