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  • Are You A Rational Or Irrational Sports Bettor?

    Posted by on April 2nd,2017View

    Are You A Rational Or Irrational Sports Bettor?

    Becoming a winning sports bettor takes a whole lot of work.

    You have to have the strength of mind to find a method that works for you, and the discipline to keep doing it whether things are going well or out of sorts.

    When people have been betting for a while, and if they start to raise their success they can start to try to cut some corners to make the process a bit less burdensome.

    They might apply a bit less time handicapping each game or spend less time watching the games.

    The problem is that when you cut corners, you are no longer doing what you’re supposed to be doing to win, so there is no assurance that you can keep winning.

     

    What stops us from being rational?

    Short-term self-protection, ignorance, excitement and biases are the root of most failures of judgment. We believe that by identifying the psychological causes behind many types of financial decisions, you can effectively change your behavior in ways that will ultimately put more money in your pocket and help you keep more of what you already have.

    Getting lazy is the biggest enemy of long-term sports betting success.

    Some people stick to their favourite teams, leagues, or sports. They do that because it is what they know, and what they are comfortable with.

    Unless you can be a 100% sure, bear in mind that those teams or leagues often offer the best possible betting prospects for your skills or interests, then you are missing out.

    It could be that another conference or league offers much better value because there is less media attention, or that as a smaller league might be easier to handicap and find value in.

    You always need to be evaluated if the sports you are betting on are the ones best matched to your goals and skills.

     

    Rational decision-making matters

    You had a betting plan, but you didn’t follow it.

    You knew you shouldn’t bet without doing your study, but you did it.

    Betting is a series of judgments, what sport to bet on, what market to bet in, what strategy to apply, what stakes to use.

    Moreover, your betting results are an outcome of the decisions that you make. The more rational and more disciplined these decisions are more likely that the results will be positive.

     

    Below is the simplified OODA model, as follows:

    Observe – What is happening in the environment around you?

    Orient – Making sense of what is going on around you. Information coming in is processed through various filters including:

    • Expectations
    • Past experience
    • Emotional stage
    • Mental shortcuts
    • Betting strategy
    • Social pressure

    Decide – A decision is made based on the output of the orienting phase

    Act – Action is taken by a result of your decision

    *

    Sports betting places you in a situation of risk and financial management. The mishmash of these elements presents a great challenge for soccer betting punters.

    You should think and behave in a disciplined way that means you must often go alongside our natural instincts and that is simply not easy. To be positive at sports betting, you need to think differently and need to train yourself to be positive.

    If you want to be successful at sports betting, you need to be prepared and able to manage with the range of attractions and pressures that overcome the majority of the people who enter the sports industry. Betting presents you with prospects to make, or lose, a large amount of money in short eras.

    Self-control helps you to earn money, keep what you have done, and not lose too much when you do lose.

     

    There are typical mistakes made by punters who lose at sports betting regularly:

    • Betting for excitement and fun and not making any profit out of it
    • Keep on betting to recover your betting losses
    • Rationalizing bad decisions
    • Poor understanding of probabilities
    • Betting in states of competition, frustration, greed.

     

    Tip: To avoid being a compulsive, impulsive soccer bettor, follow our leads and do your thorough research at our site here.

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