3 Dirty Words
Sports gamblers are a lot of things. The adjectives used to describe a segment of the population that enjoys wagering on sports are rarely favorable. Come to think of it, I’ve never heard a gambler described as altruistic or philanthropic instead it always comes out selfish or degenerate. Amazing how that works when you compare the stockbrokers you know to bettors…I digress though. However, that’s not the point I’m trying to make here, defending gamblers will have it’s place but my goal is to get you to avoid adjectives that would describe betting behaviors deleterious to one’s bankroll. If any of these adjectives are used to describe the way with which you approach betting (even in a recreational capacity), there could be some real problems brewing underneath the surface just waiting to boil over.
Greedy
To quote the immortal Gordon Gecko “Greed is Good.” As a bettor though you have to ask yourself at what price am I going about achieving this level of greed. Don’t think for a second the implication here is that wanting to win every single bet you make is greed, not the case in the least. This is more about staying the course as a bettor being imperative for sustaining long term success. There’s nothing wrong with pushing during a hot streak (we all do it at the blackjack tables) but keep it within reason. Don’t take a position 5x your normal stake if a loss sets you back to square 1…in Lehman’s terms don’t take everything you’re up for a week during football and let it ride on the Sunday or Monday night game. Greed also manifests itself when we start seeking out egregious book errors, hoping offshores or land based casinos won’t catch on to your devious ways. Unfortunately this is the fastest way to send a gambling relationship south, especially with a local you’ve come to rely on for prompt payment over the years. Remember gambling is as much about building relationships as any other business; realize the bonds you build with bookmakers and coveted information sources should always be reciprocal arrangements to preserve the pipelines you’ll cultivate so they continue yielding profits for years to come.
Stubborn
Being stubborn in this business is the fastest way to part you from your bankroll. What forms does being stubborn take? It’s a very broad term and I see it constantly displayed by handicappers of all ability levels believing they can always achieve similar success across every sport. I’ve yet to meet a individual that excelled in every sport; there just isn’t enough time during the day (even for those who do it full time) to uncover every angle. The problem herein is that all of us are competitive by nature and instead of just focusing on our strengths, we try to master every sport even during the busiest betting seasons. It should come as no surprise the best groups in the world find better information in particular sports meaning they’ll play much heavier where the strongest edge exists. The other danger of remaining stubborn is failing to realize betting markets evolve. Handicapping the same way in 2014 as you did during 2006 doesn’t work because bookmakers make adjustments. Spot and schedule analysis still plays a vital role but prices often time reflect these hidden angles many of us thrived on for years. Always be willing to review your balance sheets and mistakes, making a conscious effort to stay open minded when it comes to tweaking the process.
Impulsive
Being spontaneous and impulsive when dating might be great to keep things fresh…this isn’t dating. When it comes to sports betting, both are traits that need to be eliminated from your vocabulary. The sharpest bettors in the world are careful and calculating, identifying optimal wagering opportunities well in advance rather than in the spur of the moment. When under the gun the quality of decision making goes right out the window, avoid knee jerk behavior at all costs. This, however, doesn’t apply making a bet minutes before a game especially if you’ve identified a number and buy point well beforehand. Patience is a virtue, waiting for a game to fire on should never be forced. Betting sports isn’t a series of 50/50 coin flip decisions; it’s a long drawn out process where hard work is rewarded over a large sample size. Building a foundation in every sport means knowing the rivals, schedules, players, history, etc and how all factor into the seemingly simple equation that puts certain punters miles ahead of their industry compatriots.
