A Quick History of Gambling
Sports Betting Tips that Actually Work!
Are you done with losing money and keen on winning like a professional as an amateur sports bettor? Do you need to learn a secret formula to do that? Not really, but here are five proven tips that you can try for yourself next time you place a bet:
Knowing the Odds
If you ask a professional punter who they’re betting on, you might be surprised to learn that it’s not always the one they think will win. It’s an important point because winning punters usually just place their money on results which they think are likely, instead of what the odds suggest. These pros build up their wins over time by focusing on events that bookmakers underestimate. They may bet on who’s popular or on the underdog, but in any case, they only bet when the odds are good.
Mind Before Heart
Many people base their bets on emotions rather than on an objective appraisal of the likely results. They may bet for their favorite sports stars or for their country or hometown, etc. Note that bookmakers will respond to this and tweak their odds as needed. What this means is that the odds-on favorite to win could be chosen simply because they are popular rather than how the bookmaker assesses their odds of winning. So if you’re already emotionally invested in your favorite team, forget it and take it slow when betting on any outcome.
Know Before Invest
According to Warren Buffet, on of the world’s most successful stock market investors, never invest in anything you don’t fully understand. This holds true even in sports betting. You’re after results that are more likely to happen than what the odds are saying, so before that even becomes possible, you need adequate knowledge in your desired games .
The Big Picture
There are times when people get so engrossed in sports betting that they tend to be obsessed with statistics and having to analyze them before deciding which players or teams they should bet on. Based on a Journal of the Association for Psychological Science (APS) study, doing that could actually reduce your chances of winning. Not to say that you should ignore the data, but experts advise looking at the overall picture instead of being overwhelmed with small and usually irrelevant factors.
Finally, no matter how great you become as a sport bettor, accept the reality that you will lose many games. Nobody likes losing money, but allowing yourself to be consumed by the frustration of losing can lead to a psychological phenomenon called the sunk cost fallacy. It’s when losing money affects you so much that you begin to behave irrationally, leading to even more losses. In simple terms, as any betting pro would advise, accept that some days will be good and others not so.