Did you know that some very successful sports bettors have come from Wall-Street as accomplished financial investors? They took their same theories and financial market strategies and applied them to sports betting.
They are disciplined in their use of systems to extract small profits time after time after time until they have doubled their initial investment over and over. They are satisfied with minimal but very consistent gains because they know that they will add up over time. After all, a fund made up of pure financial assets that can return 25% in a year is considered to be very good. Whereas in sports betting, someone following a good system can double their money in one season in one sport, easily!
The investors also bring another important idea to the table. The concept of “Diversification” basically means not to put all your eggs in one basket. That means not to use just one sports betting system just like how investors do not invest all their money in one stock or financial derivative. The law of averages dictates that every system may have some rough patches and perhaps lose a string of games, just like any particular stock can fall in value for a period of time. Using multiple systems will protect you and minimize your losses when those rough patches do occur.
Investors also operate pretty much like machines and do precisely as the systems tell them to do. They do not let their heads get in the way and trust that the system will work in the end. The investing mindset realizes that there will be losses over the course of time and do not get too upset as they do happen. Also they know that their consistent small gains will outweigh their occasional losses. As a result, they show consistent gains and end up doubling their money over and over.
This is pretty much the opposite of the experience that most sports bettors have. The entire psychology of the average gambler is much more instant gratification oriented. The average gambler does not have a long term goal or vision. The average gambler wants to get rich right now!
So they end up using horrendous money management and chase their favorite teams, the popular “hot” teams regardless of the point spread, hope to strike it big with teasers, parlays and other sucker bets. For the most, part they all end up losing their money over and over again. They have the idea that they are going to get rich fast, and that is the problem.