This will be almost a personal vent, but I do see a lot of people around going through the same process. The difficulty of maintaining healthy psychologically and not undermine everything in the blink of an eye.
Sports betting: are you on the winning or losing side?
This is not new information, but I never get tired of saying it, over 90% (I’d even say that over 95%) of bettors are losing bettors in the long term.
Unfortunately, we are tricked by the illusion of getting rich quick, right at the start of our betting life. That is absolutely normal, and it is one of the natural stages of our development in this universe.
It is a natural and disproportionate balance, where the large majority covers the profit of the winners, and the bookmakers still win a lot of money.
I am not ashamed of admitting that I was already a losing bettor and even worse: I was a person that was psychologically unable to bet.
How many times have you deposited in the past couple of months? I can very certainly say that I was one of the bettors that covered the profit of a lot of bettors, during a long time.
I started betting on around 2011, without any knowledge about this are, and I only thought that I would be making a deposit on the first bookmaker I could find and a couple of months later I would have a lot of money.
Well, I’m Brazilian, I watch football since I’m 5 years old, how am I not supposed to make money out of it?
I’m certain that when reading this sentence, you’ve identified with it. I lost count of how many deposits I’ve made, and how many times I undermined everything due to the same old mistakes.
Generally, bettors on this condition have habits that are tough to let go of and they always end up losing a good portion of their bankrolls until they fully understand it.
Betting on an overvalued favourite, all the possible over lines on an event, etc…
Another almost suicidal habit I had was making a lot of bets on a single event.
I used to make 3,4 or 5 bets on different markets, sometimes trying to find a great opportunity in-play, and even if I landed a good number of the, the outcome was always the same.
With time I started finding out basic concepts and reducing that ridiculous number of mistakes. After a couple of years depositing constantly and losing a lot of money, I started understanding some basic rules regarding this universe.
I’ve already heard a lot and I’m sure that I’ve started losing less when I put this into practice: less is more! I had a big problem that was betting on everything that moved, simply because it was available on the bookmaker, or even because it was on the television.
That’s when I reduced my betting volume and things finally started working better, since I was able to at least stabilize my losses.
I started really filtering my bets and trying to be more considerate with my selections.
A good psychological state is fundamental
One of the big problems was being solved little by little, but the lack of a good state of mind was still getting in the way of my performance. During most of the time, I was able to control myself and bet only on a couple of events.
I still had that negative feeling that I was letting other great possibilities of earning money slip by. The biggest discomfort was on the weekends, where there were a lot of matches at the same time, and that definitely got in my head.
I maintained on track with my method until I hit a rough patch. I still didn’t have the psychological conditions to deal with the variation.
I ended up trying to recover my losses very quickly, once again increasing the betting volume on matches I didn’t even study and the result was the same: another deposit.
Admitting the mistakes was an important part of fixing this defect gradually. I never analysed my bets. When the match ended, I’d be happy for me profit or sad with my loss and I never tried to understand why it happened.
That was when I started reflecting on the reason why some of my bets didn’t work out. Of course that misfortune (so to speak) was present and sometimes correct bets didn’t pan out well, even when the analysis was good.
Other times, I looked at the crucial aspects of the event and saw that I really had it wrong on my analysis and had messed up. That helped me reduce my need of quickly recovering what I lost.
All of that didn’t make me a successful bettor.
This isn’t an article with a happy ending, saying that by doing all of this, you will be rich like me, because that wouldn’t be true.
The intention here is not showing you that I’m a successful person, but rather show you that I make mistakes just like everyone else.
Identifying those mistakes is an essential part of this process and it is also important to try and diminish these flaws.
In my head I have this idea that it is always possible to improve a little more, and I know it is not easy, but most of the times, our biggest enemy is ourselves.