Perception might be our reality but it is not long term successful when colliding with probability and statistics. Good afternoon and thank you for returning to the StreetBettings.com. Today, we continue our trek towards increased profit. Whether one dabbles in the casinos or sportsbook offerings at Americas Bookie, there are methods to improve your chances to walk away a winner. Let us go over how to improve your gambling mindset to nudge that profit into your pockets.
Gambling Mindset – Monte Carlo Fallacy
Here we convince ourselves that the cards, dice, or any other method of randomness has a memory. Most often associated with casino table games, it is that nudging voice that screams loud when streaks are occurring. Red drops nine times in a row on the roulette wheel. What are the chances that the next spin will land on black? Our hopes try to make it seem like now the world is set to nudge the ball onto black. In reality, the odds are exactly the same before, during, or after. The ball has no memory nor bias. So the process of doubling to strike against fluke occurrences holds no additional benefit but introduces more fluctuation to oversized bets.
Gamblers Ruin vs Bankroll Management
Sports bettors can attest to this one. During periods of perceived good judgment, they will increase the size of the bets when on a heater. However in the times when they could not hit the broad side of a barn, there is no corresponding decrease in wager amounts. Bankroll management allows one to stay in the game longer so that when their superior sports wisdom starts producing tangible results that they can reap the harvest. Too many go broke not because of ability but because their bet sizing made it more likely that they would.
Adrenaline is what we seek in the sports and games we bet on. There is nothing wrong at all with feeling the rush. Just do not let it short circuit the logic in your brain that got you to this point. Good fortune in your sports ventures and we will see you next time here at the StreetBettings.