Saturday, 11 April 2009

Betting A-Z

F is for Frustration.

If I look back over my past couple of years of sports betting, I suppose this remains my most frequently felt emotion. I would guess I'm not alone with this thought.

Today was one of my better days. The stats - an 11% increase on bank, a 90% success rate on bets, with a largest loss of £5.00. The day was relaxed, I felt in control throughout, and was able to pick off in-play opportunities at regular intervals to top up the winnings from my footy selections. I recognise this pattern, most of my successful days follow a similar routine. Easy money!

My frustration comes from an inability to string together these 'good days' consistently. I have spent a considerable amount of time analysing my shortcomings, and have put in place rules and processes aimed at cutting out errors, but long-term regular profit remains the unfulfilled aim. Maybe the final piece of the jigsaw is to recognise that consistent profit requires a consistent state of mind. If your decision-making process differs depending on how successful your day has been, then presumably your results will also differ. The tough part is to be able to clear from your thoughts what has gone before, whilst also learning from your mistakes.

So an addition to my list of rules - Accept that some days you lose. Remain confident that on most days you'll win. And treat losing and winning days the same.

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