Having a sports betting system is essential to anyone who wants to use sports betting to make a living. Without a solid system to follow, most people will fall into greed, and greed is probably the worst thing that a sports investor can have. Sports investing takes a lot of discipline. When you start, you have to begin with the attitude that this is a career path, not a hobby or a gamble. The problem is that most people lack the discipline necessary to make sports betting work for them.
For many people, sports betting is a means to a quick fortune. At least, that's how they expect it to be. When they place money on the NBA picks, expert NFL picks or MLB picks, they expect to see instant returns. Most of these bettors will fall into the trap that has caught bettors since the beginning of time, namely what to do after a loss. After a loss, a sports investor will shrug his/her shoulders and move on, because he/she understands that there will be occasional losses. The most that he/she will do is attempt to recoup some of that money. However, bettors can never accept this. Many times, after losing a significant amount, a bettor will attempt to make back their losses with interest, which may, and usually does, result in even greater losses.
Another common mistake that bettors make is to dip into their savings accounts or personal expense accounts to pay for their deals. That's perfectly acceptable if your sports betting is purely a hobby. However, when you make the transition from bettor to investor, this will never work. For investing to work, you need to have two, separate accounts. Look at it this way. You would never use the money that pays for your food and shelter to buy supplies for your office building. Don't use the money that you need to live to fund your sports investing.
Investors understand that the market can change at any time. Something that looked promising just a few days ago can suddenly become a toxin. Because of this, they never invest more than they can afford to lose, usually less than 5% of their income. However, sports bettors don't realize just how fickle the market can be. They overinvest on NBA picks, expert NFL picks or MLB picks and end up losing big when the trends they were following shift the other way.
For many people, sports betting is a means to a quick fortune. At least, that's how they expect it to be. When they place money on the NBA picks, expert NFL picks or MLB picks, they expect to see instant returns. Most of these bettors will fall into the trap that has caught bettors since the beginning of time, namely what to do after a loss. After a loss, a sports investor will shrug his/her shoulders and move on, because he/she understands that there will be occasional losses. The most that he/she will do is attempt to recoup some of that money. However, bettors can never accept this. Many times, after losing a significant amount, a bettor will attempt to make back their losses with interest, which may, and usually does, result in even greater losses.
Another common mistake that bettors make is to dip into their savings accounts or personal expense accounts to pay for their deals. That's perfectly acceptable if your sports betting is purely a hobby. However, when you make the transition from bettor to investor, this will never work. For investing to work, you need to have two, separate accounts. Look at it this way. You would never use the money that pays for your food and shelter to buy supplies for your office building. Don't use the money that you need to live to fund your sports investing.
Investors understand that the market can change at any time. Something that looked promising just a few days ago can suddenly become a toxin. Because of this, they never invest more than they can afford to lose, usually less than 5% of their income. However, sports bettors don't realize just how fickle the market can be. They overinvest on NBA picks, expert NFL picks or MLB picks and end up losing big when the trends they were following shift the other way.
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