Have you ever wondered how Sports bets Did “smart money” turn into smart money? Wondering what does smart money in sports betting differently than amateurs? The biggest difference between professional and amateur players is that professionals keep track of what they do and learn from their mistakes. So with that in mind, here are the 3 biggest mistakes I made when betting on sports:
1. Trying to make up for losses with the next game
This is the biggest mistake I made when I was younger. What would happen is that I would get used to winning a few weeks in a row and then I would run into some bad luck on Saturday and Sunday. I would lose some money for the Monday Night Football game, and instead of being rational about the game, I would bet 5 times more than I should have in an effort to recoup my losses from the weekend. This is the safest way to go bankrupt!
2. Make decisions based on emotions rather than logic
This error is closely related to error number one. I used to gamble on games to feel good. For example, growing up I was a huge fan of the Pittsburgh Steelers. I’d bet AGAINST the Steelers just to feel good no matter how the game turned out. If the Steelers won, I would lose money, but I would be happy because I’m a Steelers fan. If the Steelers lost, he would be happy because he would make money.
3. Bet on my favorite teams
This mistake is the other side of mistake number two. When participating in sports betting, you must separate your feelings from your desire to win money. I used to bet on the Steelers and Pittsburgh Pirates because I got tired of losing money betting against them! What happened was that when my favorite teams won, and I lost money betting against them, that would take away from me enjoying the victory of my home team. So instead I’d bet on my favorite team and feel twice as good when they won and twice as bad when they lost.
What can you learn from this? Easy. You must try Sports bets like a job or business and be professional about it. You cannot treat it as a form of entertainment or as an emotional solution and expect to make money from sports betting. If you find yourself betting on excitement, then you should sign up for a professional handicap service that will help you stay focused on making money rather than making you feel good about your bets.
