Similarities between Sports Betting and Wall Street

Success in all types of investing or risk taking has a lot to do with controlling emotions. The psychological issues that drive financial investing and sports betting decisions are almost identical.

Here are three things to always be aware of:

GREED – When the greed circuitry of our brain kicks in, we fixate on
how great we will feel when we cash in winning plays or investments.
Conversely, we tend to ignore developments that could cause us to lose.

Many of us have placed what we consider to be sure, can’t lose bets.
Greed creates tunnel vision, which can easily intoxicate us and
minimize any thought of things going the wrong way. This thought
pattern is pervasive among bettors and investors.

You absolutely must understand the possibility that you may lose
your “sure thing” bet and consider all the negatives that may occur.
Always stop and think about what could be wrong. Be humble, not cavalier when
you bet.

Expect the unexpected and forget about sure plays of the month and all that
garbage. Rule number one is to protect what you have.


OVERCONFIDENCE – This normally happens when you are on a hot
streak, and you will be, when everything you touch is gold. There is
this incredible urge that just seems to take over causing you to “up the
anti” and bet more than you should and in some cases a lot more.

Betting properly is actually a day in day out mundane task. Done
properly it will bring you a regular stream of income. When you let
things get out of hand and step outside the betting parameters it will
invariably catch up to you.

REGRET/CHASING – One of the toughest things for sports
bettors or investors to do is to stay calm when they are losing.
The urge to make up for a recent loss is often the most dangerous period of
time for a bettor or investor. The desire to make up for losses
can be over powering. This may be the number one reason so many people become
losers.

They simply cannot control themselves and force themselves to try and make
up for their losses by doubling their bets or chasing a bet to try to make up
for a previous loss. When people get to this point, logic, proper money
management and following a system simply get thrown out the window.

Successful sports bettors know that the key to accumulating wealth is
making good consistent decisions. If you stick to the things you know
work and put your emotions into check mode you will be successful.
Don’t get too high when you are winning and don’t get too low when
you are losing. Just stick to the day to day best practices and you will
be a winner.

If you need a sports betting coach to guide you through the complex world of sports betting, contact me.

Regards,
George K.
703-217-0805
gak555@yahoo.com