How not to lose confidence in betting?

Published: 04-08-22
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    Today we will talk about such a phenomenon as the confidence and self-confidence of bettors. Most likely, you will immediately think that this is another pointless article that will not help you in any way, but this is not the case. Here we will look at the real practical experience of the player and his results. He certainly had to go through a lot but did not stop there and continued trying.

    Every bettor goes through this

    every-bettor-goes-through-this

    So, we will start by analyzing the stages of development of every single bettor. Usually, in a very short period of time, players go through several stages. Initially, they are very confident in themselves and their abilities, but then their inner strength and confidence are quite abruptly replaced by a fear of making a mistake and a fear of defeat. Players are overtaken with insecurity about every action and decision they make.

    Many experts who give advice to beginners in sports betting recommend not to doubt yourself and make a decision quickly. In general, it is generally accepted that you need to have a deeper understanding of several sports that consistently bring you profit. After all, you probably already know the characteristics of team members, their strengths and weaknesses. At first glance, it seems that this is the key to success. And, if the bettor is also somehow connected with professional sports, he gets to keep all his winnings. However, not everything is as simple as it seems at first glance.

    It takes just a couple of days: the first losses begin to bring feeling of discomfort. And here the question arises: is it really not so simple? In fact, everything is much more complicated and deeper than beginners think. Gradually, that very confidence in yourself and your abilities begins to disappear. It becomes obvious that a carefully thought-out strategy is paramount here.

    Choosing a strategy is the key to success

    Here, too, you can make the situation worse. Often, inexperienced players choose the first strategy that they come across or (which is even worse) create it on their own when betting on sports. Experienced players advise beginners to choose proven and popular strategies to avoid these mistakes. If you don’t do this, you will face the consequences. At first, bettors can win and believe that the strategy is right, but then the dynamics will change. You will again lose your hard-earned money, confidence in yourself and the desire to play at all. We can say that at this stage the players are at a real impasse.

    How to restore self-confidence

    how-to-restore-self-confidence

    Do not worry, because there are options to restore your former self-confidence which existed for a long time. It is worth going back to the first step and choosing or developing a strategy because without it you won’t get anywhere. Regardless of whether you created it or not, the strategy needs to be tested. To do this, you can use an ordinary piece of paper or a demo version of a betting company, your chosen company should have this. Most importantly, there are quite a few options of the process that won’t impact your budget at all. For example, if you manage to get profit over a long period, then your confidence will return extremely quickly. Otherwise, you will need to make some corrections.

    And now, it would seem that finally, everything worked out. However, after a while, your confidence may disappear again. Believe me, this is absolutely normal. This happens in virtually every field.

    However, this is good. Because without such periods, the vast majority simply would not be able to achieve good results. Any risk must be mathematically calculated, analyzed and very carefully thought out. It should contain at least a tiny percentage of a positive result.

    Why is it bad to be overly confident?

    Experts believe that no one should be overly confident, it has to be just enough. Too much of it has a negative imapact on the game. The bettor stops being cautious and begins to act thoughtlessly and hastily. Of course, this leads to undesirable losses. To solve this problem as soon as possible, the player needs to understand the reasons for the loss. If this fails, the bettor’s bank will be completely ruined.
    Now let’s talk in more detail about some more negative aspects of over-confidence. The fact is that a player can begin to underestimate their opponent, which can be dangerous. After all, most opponents use the analytics of betting companies and have unique information that allows them to correctly choose the odds and much more.
    Therefore, be sure to study analytics. It is possible that there might be small errors in it, but it is better to refer to this data than to your own excessive confidence.
    Also, this leads to underestimation of the other bettors’ actions. For example, sometimes it so happens that the coefficients sharply drop. Experienced players always analyze the reason for this from the beginning, and never consider it a mistake.

    Dunning-Kruger Effect

    dunning-kruger-effect

    Have you ever heard of the Dunning-Kruger effect? It considers two sides. Firstly, that beginners start to overestimate their abilities and don’t even notice it. And secondly, experienced players begin to doubt their skills and knowledge.
    It turns out that both situations will eventually lead to losing money. Because experienced players begin to lose the chance to bet on the most successful option due to their insecurity. Accordingly, the bettor gradually goes into the red.
    The best solution to this problem, as we said above, will be distance predictions. The fact is that if a player continues to make a profit after a year, they are clearly a true professional in this field. However, a thorough selection and testing of the strategy is required at the start. Otherwise, you simply will not achieve a result like this.
    If you managed to make a profit even at the testing stage, you will continue to get it after a while. However, remember that it is always more difficult to make your predictions with real money.
    So, it is good to strive to the golden mean everywhere – betting is no exception. Avoid extremes, do not be overly confident in yourself or vice versa. Otherwise, you will lose. Always be on the lookout and keep an eye on your rivals, other users and their chosen strategies. Only then you will you be able to stay in the black. Good luck!

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    Marcis Licis marcislicis

    Marcis has joined the Casinobaltics team to educate our visitors and prospective gamblers about online casinos. A real casino gaming expert.

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