I need to see real growth in metrics like customer acquisition and trading volume before making a deeper commitment. From what I can tell, the news about EDXM will only be positive for Coinbase if it helps to expand the pie for the crypto industry as a whole. That's right -- they think these 10 stocks are even better buys. Independent nature of EDXM would also restrain the firm from the possibility of conflicts of interest. EDXM needed to prove its utility to stay relevant within the crypto space though. For now, I'm taking a wait-and-see backed crypto exchange with Coinbase. Meanwhile, the EDX exchange would work to accommodate both private and institutional investors.
To understand that you will never know for sure what is going to happen next and in fact that you do not need to in order to be successful and profitable. Many people are addressing uncertainty and randomness in their betting by moving towards sports trading approaches, backing and laying, trading in and out, taking profits at pre-chosen prices and not just waiting for the final outcome. Accept the reality that losses are a part of betting Something that is absolutely key to success in sports betting is accepting the realities of what sports betting is and what the possible outcomes are and one of those is that you will have losses.
Once you have accepted that losses are a part of betting it frees your mind, reduces the tension, and helps to manage your emotions. You cannot be at your best while you are always tense from trying to resist losing, and interestingly sometimes the more you try and avoid something the more you are drawn towards it? Focus on managing risk not picking winners? From my time at Sporting Index it became clear that the best sports traders are focussed on managing risk first and foremost and not obsessively trying to pick winners.
A key question I asked myself in my own betting was? Compton Hellyer, founder Sporting Index A common misconception amongst people who are new to sports betting and also shared by those who are less successful at it is that the primary focus is on picking winners. A key focus of those who have enjoyed long term success in betting is that their focus has been on managing their risk, and controlling losses.
The lure and attraction of betting to most people is making money and to achieve this outcome the obvious path would appear to be picking as many winning bets as possible. By learning to manage risk and control losses you create longevity and continual learning for yourself that keeps you in the game, keeps you improving and enables you to become more profitable over time. Bet for profits not excitement? If people want to become successful at sports betting the first question they must ask themselves is why am I doing this?
Is it for fun and entertainment, or is it to make profits? For people who are betting for excitement and fun the approach will be more casual, there is less inclination to prepare or to record and evaluate results, there is less structure and decisions are based on creating a? For people who are betting to make money betting is a business and there is a professional approach that is adopted as a result of that and decisions are made to maximise profits and minimise losses not to meet emotional needs of excitement, socialising or fun.
For the punter it is all about the result and the buzz they get from that result when it goes their way. For the professional the process is key? This is a mastery approach and unlike a punter a professional trader would not feel satisfied with a winning bet if their process was flawed.
I call this approach to performance a focus on? The key is doing the right thing at the right time for the right reasons. Focus on the flawless execution of your betting strategy? Take a long term view? Get rich slowly? If you are looking to make money from sports betting then you need to play for the long term and accept the short term risks.
This is quite a challenge as humans are hard wired for short term reward and as a result short term thinking. This is even more evident now as we have developed into a microwave society where we want everything faster than before and we are used to fast food, fast internet connection etc. Our needs for instant gratification are great and betting allows opportunities for us to meet that need, though not always with the desired ending.
You have to condition yourself to be able to bet according to your process, to flawlessly execute, and not to be reactive in the light of your recent, short term, performances, whether down or up. Humans have a tendency to make decisions based on what has just happened to them, and where you have made a mistake or lost money your natural instinct is to? Keeping the long term view in mind is key. Enjoy small wins? Some people only ever seem to want to hit the sexy six, and not take the singles.?
Compton Hellyer, Founder Sporting Index When you first start betting a win no matter how small feels great. After a while you do not seem to get the same sense of satisfaction from those size stakes and wins and you feel the desire to take more risk and aim for bigger wins. As your wins get bigger and bigger you feel better and better. Each time you win with a bigger amount you get a release of dopamine the pleasure chemical in the brain and the feeling is very powerful. Smaller, and even equal sized wins no longer provide the same?
Many successful sports betters achieve their results by having multiple small winners that outweigh their small losers. They are risk managers. They enjoy the process of winning and get their buzz from seeing their bank balance grow over time and not from one off short term quick fixes. Positive attitude to money Money can have emotional and psychological effects on people and the decisions they make. How you think about money can affect how you bet and the outcomes you get.
One of my biggest hurdles of making the transition from knowing how to trade to becoming a successful sports trader was learning how to respect money. The problem that I had with my trading bank was that it wasn? Believe you can be a winner This final component of the betting mind is definitely in the?
Whilst it may be number twelve here it is probably one of the most important factors of all. Do you believe it is possible to win at sports betting? Do you believe that you are able to win at sports betting? Many people feel that there is only one winner in betting and that is the bookie. This is the common perception and amongst those who choose to continue to bet at the bookies without structure or discipline it is probably the case, however since the advent of sports spread betting and the betting exchanges in particular the betting landscape has changed dramatically, the balance of power has shifted, and with it so have the opportunities for profitability and success.
The bookies key advantages of the overround and the ability to lay have both been removed by the betting exchanges and the availability and accessibility of information and data has significantly increased to give you an extra edge. Bookies know how punters think and the betting industry encourages and entices the behaviours that will leave most people parting with their hard earned cash. This is a way to make money in the long run, but there will be peaks and valleys like anything else.
If there is a program guaranteeing huge success rates that are simply unattainable, thats a sign that its not what it seems at all. Too many people online try to sell a cant lose system with impossible odds to match. While every sports bettor who makes a profit has their own strategy, most rely on variations of these three major tips.
Keeping everything in perspective is how the best of the best have success for years, but being able to adapt when necessary matters as well. Finding Value Bets Its easier said than done, but value bets are what can sway things in a professional bettors favor.
Its reckless to bet on certain games just because they are sitting there. The best will skip an entire week of the NFL football season if they dont like anything they see. Sometimes the best bet is no bet at all. Value betting is about identifying overvalued markets to turn around the odds. When a typical line goes into place for most sporting events, the casino is trying to position themselves to always win by putting a line right in the middle. Getting a statistical advantage can help out considerably.
Since professionals have been in the game for so long, they are usually pretty quick to identify value picks when spotted. Some will have a point where they will bet, and anything beyond that is a no-go. For example, if one team is favored by 7. Otherwise, if it never drops, theyll just skip that opportunity for something else.
Managing Bankroll Another smart strategy for professional sports bettors is managing the bankroll properly. It essentially needs to be run like a business, so having a scale of measurements makes a difference. Recklessly putting all money into play wont help players trying to take it to the next level. Having that all-in strategy usually leads to failure.
Every sports bettor is different, but some only like to have a small fraction of their money in play at any time. This way, if everything goes haywire, they are still in good shape.
You may choose to limit the points you bet to between one and five, and you bet more when you think the bet offers more value. Just remember, value is only your subjective analysis about the probability of any selection winning.
Once you have decided on your staking plan, you then need to start betting with a proportionate betting bank. If you consistently bet at short odds, then the lower betting bank should suffice. If you prefer to bet at bigger odds, then go for the larger betting bank. Your betting bank is there to give you the cash flow to make sure you never miss a value bet and cover any losing runs that you may experience.
By having a betting bank, you should be able to come through any losing runs and still have money left. Of course, if you lose your betting bank, gambling may not be for you. Set Targets One of the biggest advantages of winning consistently at sports betting comes is you will have more money. Alternatively, once you have grown your betting bank, you may decide to increase your per point stake.
Of course, you can also split the money you make, reinvesting half of it and spending the other half. This example highlights how quickly you can increase your betting bank and per point stake exponentially, and still treat yourself with some of your winnings. Follow Professional Tips Now you understand value betting, staking plans, and betting banks, the big question is, have you got the knowledge and skills to pick value priced winners? Many professional gamblers also provide tips for a variety of sports, and you can follow their advice.
The debug difference is that when all is said and done you should be in the green and your bankroll bigger than when you started. The method of spreading your bets over several outcomes at any given time just doesn't work because you might lose all at once. But placing bets on the outcome of match events one at a time gives you time to assess if you're doing something wrong or if you're on the right path. Basically, you learn as you bets with minimal risk cause not all of your bankroll is invested at once.
Your bankroll should be protected by the approach you utilise whenever you bet. Risking your bankroll by betting with it on one event can either increase it substantially or you're left with nothing at the end of the day. Even when you win with this approach, it is not sustainable in the long run cause you are likely to lose your hard-earned money to the bookies quickly and rack up debt if you have an addictive nature. Some make a plan about how to approach betting and chose a frequency to prevent over betting and losing their bankroll and that will help you immensely.
Discipline is required to avoid making mistakes when you shouldn't because you see a game you feel will be good to bet on or to start betting on large odds to cater for lost bets and recover your money. That is not a sound strategy as you will lose more when you try to recover than when you bet to win in your normal routine bets because emotions are not involved ad nothing is clouding your judgement to limit your efficiency.
Here are several things to consider when you want to make betting a worthwhile experience for you. Place one bet at any given time A bet should be allowed to finish or the outcome decided convincingly if still in play before another is placed.
This helps to make necessary corrections while also making you aware of the state of your bankroll.
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