7 Skills That Build Successful Bettors
If you already have some experience in sports betting, you must have figured out there are a couple of skills that make successful bettors.
This article discusses the skills I believe are vital to develop if you want to become a professional bettor.
Your understanding of Value (read more) in sports betting is of paramount importance for your long-term success. You need to be aware of the fact that being confident in a potential outcome alone does not represent a good betting opportunity.
Ideally, you should be placing a wager only when your confidence in a particular outcome goes hand in hand with value. You can do this only if you understand very well what Value is.
In fact, the concept of Value is quite straightforward but many bettors still don’t get it or don’t make an attempt to understand it. If you learn how to apply this concept in your betting, you will have a powerful weapon against every bookmaker.
Even if you have no idea about the sport you are betting on, you might win from time to time. However, this is a matter of sheer luck and is certainly not going to work in the long term.
You don’t have to be an expert in a certain field but the more information you have and the better you know the specifics of the sport you are betting on, the easier you will be finding good value bets. Understanding the sport will give you an edge and will add another weapon to your sports betting arsenal.
The more knowledgeable you are, the more likely it is to comprehend the various factors that might have an impact on the final outcome of a sporting event. In other words, you would stand a chance of making a much more accurate prediction.
The more accurate your predictions are, the more successful you will be.
It doesn’t take being a genius in mathematics to make money from betting but it definitely makes a difference if you are knowledgeable in the field. Essentially, betting is a game of numbers so the better you understand numbers, the better results you are going to get.
In some cases you will need fast and accurate calculations so as not to miss certain favourable conditions. If you develop this skill, you ensure fast reactions and accurate judgements at the right moment.
In a nutshell, discipline refers to sticking to your plan and keeping focused on your ultimate goal.
Next to following the rules of placing wagers, you should also be managing your money very well. This requires very good discipline because it is incredibly easy to cross the line and start wagering larger amounts than you should be. This happens mostly when you have a losing streak, and opting for doubling-up is never a good idea.
Learn about the major mistakes you could make in sports betting in this article.
Prior to placing a wager, you should always follow clear-cut rules to decide whether you should go for it or not. Undoubtedly there will be situations when you will be burning to break those rules. However, this is not a good idea. The rules and criteria are there for a reason and you should stick to them.
You should focus on long-term achievement in sports betting. In other words, be patient. It is highly unlikely that you will be able to make a lot of money very fast unless you are extremely lucky. Hence, don’t look at sports betting as a fast track to becoming rich.
While it is possible to accumulate a serious bankroll, that won’t happen overnight. Building a bankroll takes time, and you have to wait for the right betting opportunities. Wagering on high odds just because you may win more, indulging in compulsive wagering, or placing large-scale bets are all classic examples of short-term focus, which is more likely to result in bankruptcy rather than making money.
This is not really a skill but it is worth mentioning. Successful bettors separate their betting money from all the financial resources they live on. This is definitely something you should do, too.
If you think of your bankroll as a money-making tool, it will be easier for you to make the right decisions. This approach also enables you to manage your money better, which is a skill that will greatly reduce the possibility of bankruptcy and will protect you from wagering more than you should.
Good analytical skills are very useful in sports betting because there is plenty of information to be analysed. Statistical analysis may come in very handy when assessing the relative likelihood of something happening.
If you analyse past results, that will help you recognize certain trends while monitoring the odds and understanding their fluctuations will help you find suitable betting opportunities.
Analysis is essential when it comes to getting into better shape. Always look for ways to improve your performance. When you reflect on it, you will see what you are doing right and what could be better.
Each enhancement that comes as a result of your analysis will have a direct impact on the amount that you win. The better your analytical abilities are, the easier it will be for you and the more money you will be making.
Don’t forget your own game! Record Keeping And Bet Analysis
Emotions have a huge impact on your decisions. If your favourite club is playing, it is more likely that you place the bet with your heart rather than with your head. When on a good streak, you might become too self-confident and place reckless wagers.
If on a bad streak, it is possible that you start doubting your abilities, which could lead to a blockage and a failure to make any decision. If you want to win from sports betting or any other form of gambling, you need to leave emotions aside and base your decisions on rational analysis.
It may sound easier said than done, and only some people can do it. Others find it impossible. You need to continuously improve this skill as otherwise you will let emotions shape your decisions and you are bound to lose money.
Find more about emotional control and discipline HERE
If you believe you possess all the above-mentioned skills, you stand a great chance of becoming a successful bettor. Don’t be discouraged if you don’t, as the larger part of these skills are not inherent to most people.
Developing each of these qualities is absolutely doable as long as you have the right attitude and you practice enough.