Submitted by rsteel on
Being a full-time sports bettor as long as I have this business has taught me many valuable lessons that I use in life. However, the most important characteristic would have to be PATIENCE. This was my major weakness heading into this business and I either had to adapt implement patience as part of my discipline or fail miserably.
Sports’ betting for a living is often depicted as a roller coaster thrill ride based on big decisions and life changing wins. Nothing could be further from the truth.
So why is patience so important? People bet for different goals and reasons. However, the common goal is to make some money. Patience can help bettors who are misled to believe there is some quick fast major score that can be had. Hitting 15 team parlays is not on the menu for serious sports bettors. In fact, parlays period makes up NO part of my betting menu. The larger profits wait for those willing to grind daily adhere to proper money management principles and take the long-term approach.
Exposing a high percentage of your bankroll on a single game, using a progressive betting system (in other words betting more with each loss) will have you on the sidelines out of this business quicker than you think. Betting events where the line contains no value no weaknesses based on your handicapping amounts to flipping a coin. When you are paying -1.10 each time to flip that coin you get grinded out to zero eventually.
Sports books have given us more betting options has made it easier than ever for us to bet with today’s technology. Virtually every game is on TV or streamed on the internet. Discipline and patience are more important than ever.
Bettors know you only bet when you have value. Impatience leads to irrational behavior and decisions. When you are consistently betting value and have an edge short-term losing streaks become just a speed bump when you maintain your patience. The bad luck and randomness will pass and your continued edge will prevail over large sample sizes.
The need by some for instant gratification is what makes sports books rich. Betting is about getting an edge over the markets finding positive expected value spots. However, realize even with value you will lose about 46% of the time on point spread events over large sample sizes and that is where patience becomes critical. Big sample sizes with a 54%-win rate will produce profits. Be patient enough for you to experience the desired results. Sports’ betting is not like playing the lottery.