Friday 10 July 2020

Keep Your Betting Simple

Gambling can be a world full of distractions. 

Perhaps these things are put in place to bamboozle the mind. It's like playing one of these new slot machines compared to the old one-armed bandit, which had three bars, bells, or melons. You could see you were a winner because it was starring you in the face. 

These days, the slots have about 50 winning lines. 

You can't really work out what is a winning or losing spin. 

I'm pretty sure there is a very good, psychological, reason for this and why slots are one of the most addictive forms of gambling. 

It's like one of B.F.Skinner's pigeons randomly pressing a button in hope of some corn drops down a chute. 

Betting on the horses is similar in ways. 

All those choices. Shall I do this, that or the other? And they are all distracting you from what you know best. Because, each and every gambler, know their strengths. They know the bet that is most likely to make them money. So they make money on that and lose it on another distraction which they are far from an expert. 

That is why as a gambler you need to keep your betting simple. 

I have said before that you can double your brainpower by doubling your bet. But you need to be winning longterm. However, this simple idea helps us understand the power you have at hand. 

The power of the mind. 

If only we could have four of us working the same job, hey. Then we would be making real money. 

Everything you do when betting should reinforce good practice. That's why you should stick to what you know. Polish the stone until it shines like a diamond. Every loser is trying to help you further your understanding. The same with every winner. But, we need to stop, look, and listen to what those winners and losers are saying. It isn't a fact of forgetting and moving on. There is value, worth, and insight even though we are dealing with the grim dissection of seeming failure. If you can find one grain of knowledge from that betting autopsy you are onto a winner.

Each time we appreciate even a fraction of the reason why something was right or wrong we are moving forward.  

That is why knowing your niche is of paramount importance. But also understanding the way you work. You need to have a set approach - a methodology. Use it in your assessment of every bet. It won't be easy at first, and it is a neverending pursuit of excellence (which you will never quite achieve). But you will build a philosophy that is helping you live and learn by trial and error. 

If you could eradicate 10% of your bad bets, you could use that money to bet more wisely. An extra bet for free in every ten.

If you learn to improve your betting by 10% you will have more winnings and be more confident that your approach is working. Each percent thereafter is money in your pocket and a consistent betting approach you know is working for you.  

Following this simple approach to betting gives you the chance to improve. A few small changes here and there can make a big difference to your success. 

It's true we are betting on uncertainty.

If your horse has a bad day, so do you. 

However, understanding where you may have gone wrong can help bring assessment and learning.

And these two factors alone are a route to making your betting pay.

Author: Jason Coote

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