Betting takes plenty of mental stamina to get through losses
December 05, 2017 3:00 AM
by Bill Krackomberger
Sports betting takes plenty of mental stamina. That’s actually why it is probably the toughest profession to be in.
The losing streaks can be brutal, and every pro bettor will have to go through them. To have the confidence to just stay the course and understand bad losing streaks will occur, is what the common “person” will just never understand.
Pro sports betting really is no different than climbing Mount Everest. Sure, most people can easily handle the beginning trails leading to the top. However, as the trail gets tougher, the mental and physical aspects take control of one’s mind, causing fear within.
It’s really no different than the Last Man Standing tournaments. Every round somebody will be eliminated and most will not have a long term plan of getting past their weekly hurdle. To achieve potential success, you need the entire year-long NFL schedule in front of you to plan out the season’s selections, expecting continuous weekly growth.
If all sports bettors followed my weekly picks and I could assure them at the end of the year they would be successful, a large percentage would still fail since people cannot handle the losing streaks. Losing 3 or 4 weeks in a row is enough to rattle even the most seasoned followers. Most will start questioning the strategy, etc.
The reason I am even writing about this is my NFL Handicapper, who I follow religiously, just went through a multi-week losing streak of 8-19. It’s amazing how many of the people we work with started questioning him and his methods, plainly ignoring his record for the first half of the NFL season was 32-19 for 63%, with his NFL totals going 13-5 for 72%. I personally received a few emails because I mention him so often on many of the different podcasts and radio shows I have done.
This is a perfect, real life example of exactly what I have been talking about in these articles for weeks. These streaks will happen again in the future, but the past tells us that when the smoke clears, we will get the money at a 60% rate at the end of the season. This past weekend, we returned to our previous successful form.
Bankroll management is vital, losing streaks are inevitable and even the sharpest handicappers aren’t immune. Hyman Roth said it best, “This is the business we have chosen.” And let’s not forget Hyman’s secret to longevity in his business… he always made money for his partners.
Last week: 1-0