Willy Chirnside asked 2 hours ago
The option to cash in on sports betting online has never been greater, but even with the essential tools and betting systems which are proven to create a profit, lots of people still find yourself 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 great online casino 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 start to manufacture bets that do not 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 simply during a bad run of results (which statistically is going to happen) we shall find the classic mistake of chasing losses. After a loss, in place of taking it on the chin and sticking to the program, the gambler will feel cheated and psychologically hurt by the result, vowing to win the cash back on the next bet and increasing the amount bet in order to do so. Remember, 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 utilized for gambling should always 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 must be money that one can afford to lose. In the event you do not keep a separate bank of money for betting, your psychological attachment to it shall cloud your betting judgement and will contribute to your failure.
Just as nobody would decide the merits of a currency markets 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 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 must keep records of all of 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 the system within your betting portfolio over-time and deal with any performance issues that this may highlight.
A lot of the mistakes already stated may be avoided by looking closely at the “psychology” of betting. Regardless how good any system is you will not win all of the time. The way by which you handle your losses and manage your money will be the major point in deciding your success.