Sports bettors aren’t born into the lifestyle. Learning to identify value in point spreads isn’t a survival instinct. It’s not an item on every primary school teacher’s syllabus alongside basic math and reading skill requirements fundamental to our success as adults. Mastering the gambling markets is improbable, and even when you think you’re getting close a market shift moves the target.
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Bettors learn from their mistakes before they become successful long-term advantage players. We’ve spoken about the trials and tribulations required of aspiring gamblers until we’re blue in the face on Bet the Board (don’t worry, we don’t plan to stop). However, for this exercise we looked to the Gambling Twitter Community to offer sage first hand advice peer-to-peer, proving that all information exchanged on Twitter isn’t toxic!
There were plenty of great tweets with pertinent bits of advice, but unfortunately we couldn’t capture all of them in this article so we’ll encourage everyone to go through the original tweet to learn more. Here were a few of the most useful tidbits worth consolidating in one location.
@ToddFuhrman 1. Just because you watch a lot of sports doesn’t mean you’ll win betting.
2-3. Repeat step 1.— PJ (@FNPNASCAR) May 15, 2017
Friend of the show PJ Walsh hits the nail on the head here, there’s no direct correlation between watching sports and being a successful bettor. Knowing the game will help in certain instances, but there are plenty of successful bettors that lean on math models or a deep Rolodex of industry contexts to turn a profit without burying themselves in the minutiae. We joke about it all the time that former coaches and players make the worst bettors because they think they know more than oddsmakers and reading the market . . . little to say every former athlete or coach doesn’t become a professional bettor.
1. Don’t chase losses 2. Manage Bankroll (Units) 3. Always bet the over, no matter what. https://t.co/7ftGVnvoiJ
— Michael (@MikeCLE_) May 15, 2017
Michael includes the single best piece of advice for new bettors; don’t chase losses. You’ll never hear Bet the Board condoning chasing bad money with fresh cash citing the ‘due factor’, or a laundry list of other ridiculous misconceptions. It’s easier to dig out of a small hole after a few losses than trying to scale a Grand Canyon of losers that came as a result of chasing. In regards to Michael’s third point, we won’t condone ignoring unders (especially in the first half)! #BoringIsBankable
@ToddFuhrman Bet what you can afford. No game is bigger than any other. Practice discipline.
— Steve (@BigDogwdae) May 15, 2017
Big Dog is a man that’s been around the block a few times so when he talks, novice bettors need to listen. Managing a bankroll coincides with creating realistic expectations for your recreational gambling. Even if it’s just $100 bucks to get started, always dedicate set funds for gambling that don’t limit your ability to put food on the table or pay rent. Discipline is a skill mastered over time; we all have a little bit of degenerate in us that clouds our judgment periodically. This feeds into the truism that no single game is ever bigger than any other (unless you have a stronger position on it). Just because it’s a championship or playoff game doesn’t justify a bigger wager unless you’ve identified an edge that dictates a larger investment. Always remember the money you make betting a 3rd division Turkish Soccer game is just as green as that earned betting the Superbowl.
@ToddFuhrman Don’t get hammered and put 10x the amount that you normally wager on a game that you’ve done zero research on.
— Josh Campbell (@CampbellDJosh) May 15, 2017
Josh, we couldn’t have said this better ourselves. If you’re going to make it a Tito’s night put down the gambling apps and sip a bit of paradise . . . with 7 ice cubes of course.
@ToddFuhrman Specialize in one or two sports (if college, specialize a conference or two), do your homework, perfect your money management
— Paul Zilm (@paulzilm) May 15, 2017
There are only so many hours in the day; no man or woman can cover every single sport in every single conference. Paul makes an excellent point that specializing in a specific league, even within a sport, can pay dividends with targeted, focused research.
@ToddFuhrman Stay away from sharp objects.
— MattyIce (@MattyO5782) May 15, 2017
That’s what we’re here for Matty, hoping to educate bettors of all abilities one wager at a time!