Submitted by rsteel on
Look for an additional Grapevine Monday or Tuesday regarding betting NCAAB conference tournaments that get underway this week.
We are now 2 months into our 2014 betting year. Although we have not had a MAJOR run good or bad yet this year (there will be both ways at some point) both months were profitable.
Believe it or not more people go bankrupt in this business during a winning streak than a losing streak. In the movie Wall Street the slogan is “greed is good” in this business it will destroy you. Do not get me wrong we all want to win every game the sports books have plenty of money and do you not feel when you are on a hot streak you are invincible. Conversely when you are in a losing streak it feels even if you had tomorrow’s newspaper ahead of time you would still pick the wrong side. This business has a way to slap you upside the head when you get too confident and humble you.
My point is amateurs when on a hot streak double their unit, force plays because they THINK they cannot lose and will more times than not wipe out a month’s worth of profits with one or two bad days. Do not fall into this trap.
Bad streaks are inevitable. If you are a hard loser, if you cannot let go of those bad beats than this business is not for you. Give yourself like I do 30 minutes after a victory to bask in the win or commiserate a loss and then mentally get ready for the next game.
Adhere to proper money management and betting principles as detailed on my website and you will do more than survive.
Keep your eye on the goal CONSISTENCY and LONGEVITY!