Guest post written by Paul Micelli
Successful gambling can be interpreted in many different ways. For some, that success can only be interpreted in terms of profits while for others, the relative enjoyment that goes alongside a competitive flutter will usually be more than enough to provide a satisfactory gambling experience. Unfortunately, there will be those involved in sports or casino betting who lose perspective in terms of what they wish to achieve when a wager is placed. For the majority of casual punters, involvement and the occasional win are simply part of the fun. However, there will be others who try to expand the potential of their involvement and this can result in a series of pitfalls that should always be avoided at all costs.
Understanding the Game
Many sports betting enthusiasts accumulate losses through a simple lack of understanding of the events they participate in. Wagering excessive amounts of money on an event where a return is unlikely can be incredibly damaging. By sticking to sports that are clearly defined and understood, the chances of taking greater risks can be more easily controlled.
Bet According to your Bankroll
There is an old adage relating to gambling that says you should never bet more than you can afford to lose and this remains as the best possible advice a sports betting enthusiast can be given. Establish a bankroll and stick to it. If you end up losing your money, walk away and learn from the experience. There will always be further chances to create a new bankroll in the future but this should only be considered when it is affordable to do so.
One of the biggest mistakes made by most gamblers is trying to win back stakes that have already been lost. Unfortunately, this can often result in larger bets being made without sufficient studying of form and the consequences can be disastrous. Reckless betting will only result in further losses so only gamble with money that won’t cause financial hardship if you lose.
Always be happy with any win you achieve and don’t be tempted to go out and chase bigger profits. Those who enjoy consistent success in sports betting will already be aware of the fact that it’s better to win a little on a regular basis than to lose an entire bankroll on a single bet because of the temptation of higher profits in a shorter space of time.
A Clear Mind
Avoid betting after alcohol consumption, a sleepless night or a busy week at work. To bet at a consistently successful level, the sports betting enthusiast needs to retain a clear-minded approach to all wagers. Tiredness, a hangover and stress are all symptoms that are likely to cloud judgement so avoid betting on events until you’re in a better frame of mind.
Never bet compulsively. All wagers should be carefully considered and placed in full confidence. Sadly, sports betting can have a negative impact on some individuals and excessive losses can disrupt life on a domestic, social and working level. All forms of betting should be adhered to in a responsible manner and any signs of irresponsible gambling behaviour should serve as a warning to withdraw from active participation on either a temporary or permanent basis. There are many forms of self-help and group counselling available for those who may feel that gambling has become a problem.