...is similar to wanting to be rich. A desire to win, or be wealthy, is fine in theory, but how is this going to be achieved? How many people that want to be wealthy actually take the brave step of starting their own business and putting their energy into the process. A desire to win is not enough, in fact, in gambling, it can be a hinderance.
The key is what you focus your desire on. Wanting money as a gambler can be a disasterous idea. It can make you forget, or not focus on, the things that really matter - how to win, how to improve, what really went wrong and what you've been doing right. Furthermore, it can make you chase the money, betting too big for your bank, or getting overly attached to the money that you have lost. Massive mental errors (and losses) could potentially occur.
The correct thing to desire, is to 'get better' at what you are doing. Regardless of whether you do in fact 'get better', this attitude alone will give you a massively improved chance of success.
A lot of sports commentators are quick to suggest that a player "really wants to win", or "they want it more" / "want it badly". That works in sports, but in the market for the match, you can't "want it more" than the other 1000 people you are betting against. What you can do though, if you really do harbour that desire, is focus that energy into how you are doing things. Give yourself targets relating to the process rather than how much you want to make or thinking about what you want to have in the bank come Christmas. Make 'learning' your biggest "want". Those who stop learning, are left behind.
Very wise words Matt - I'm making notes!
All the best,
Mark
Posted by: Mark Iverson | October 04, 2007 at 09:15 PM
Just been having a quick read of your blog - looks interesting, especially the psychological side of things.
I trade on the F1 markets. Mainly because I have good knowledge of the sport but it also provides some great opportunities for large trades. I went on a good run until I started ‘wanting to win’. I looked back over my results and thought if I did this or did that I would be rich by now! So I wanted to win specific amounts from a race and of course I started to loose. Looking back I was placing bets out of my normal plan because they would have given me the win I wanted (ridiculous now I look at it). Anyway I took a new approach of ‘not wanting to loose’ and I’m back on track again.
Keep up the great posts, John.
Posted by: John | October 06, 2007 at 08:12 PM
Probably the best piece of advice for anyone starting out. Thank you for that nugget I shall never forget it. I have a personal mantra - To learn at least something new every day - If you have any tips for tennis trading please let me know (I enjoy being cheeky).
“If you don't set a baseline standard for what you'll accept in life, you'll find it's easy to slip into behaviors and attitudes or a quality of life that's far below what you deserve.” - Anthony Robbins
Posted by: Drew | October 10, 2007 at 04:06 PM
Hi, great site with some good ideas. Im seeking advice really. Ive been playing casino games for about 5 years mainly poker and blackjack. Iv recorded my results and over the last 3 years I am down but only a small amount. Iv decided to try something fresh and sports betting looks for me. I love research and looking into possibility and probability. Might sound really small fry but I have started with £5 on betfair just to see if I can get the hang of it. Is this too small or ok? Also were is the main source of research for most people. Thanks for reading and again great site.
Posted by: Neil | October 15, 2007 at 10:33 AM
this is a brilliant entry and i will print it out and stick it up soemwhere...i bet semi professionally on australian horseracing and supplement my income very year...i enjoy this blog and want to offer my congats and thanks.
Posted by: paul jones | November 11, 2007 at 02:16 PM