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Why the impatient gambler loses...?

What's the difference between winning and losing? Not much.

Here are some probabilities, presented so you can get a feel of what winning feels like. The best way to describe it? It feels like losing! Yes, you read that right it feels like losing, and that is why most gamblers crumble to the psyche, that initializes their demise! Let me explain:

Let's say your having success gambling. You are a long-term 55% handicapper, yet somehow it doesn't feel like it is supposed to feel.

Here is your answer:

Let's say you average between 3-5 plays a day, let's say 4 plays a day. If you are a 55% gambler making 4 plays a day this is your statistical expectation:

So, what does this tell us? It tells us that the chance you'll have a winning day, after the juice/vig is considered is less than 50/50! To have a winning day in this scenario, you need to win 3 or 4 out of 4. The chance of that is happening 39.1% (29.95% + 9.15%). So, over 60% of the time you will be losing money!

Now you can see where the problem lies. A gambler goes 2-2 on his well capped plays, but after a 2-2, or 1-3, or the rare 0-4 decides he needs to make money for the day, and plays a not so well advantaged capped out game. Unconsciously he has just reduced his chances of being a 55% capper, even though he is!

It goes beyond basic money management. It takes a substantial amount of money management discipline to accept losing 60.9% of the time, in order to win. WHY? Because it feels like losing! Until this is understood, the sports bettor, even the one that can hit a winning percentage, as is ahead of most of his peers, will show a loss at years end.

Streaks are Inevitable!

Streaks happen. Winning streaks happen. And, as much as we like to deny their existence, losing streaks happen. Even in a season where you hit an unbelievable 60% winners (as good as it ever gets), there will be losing days, losing weeks and maybe even a losing month. Consistent day after day winning just does not happen. Read that over again if you must. The point is, you need to expect losing streaks. And, you can't get too bent out of shape when they happen. Again, if you expect them, you won't get too upset. Getting upset only makes things worse as that emotion forces you to do the wrong thing (chase or stop). You need to stay the course, again, shooting for 55%-60% winners over the long haul. If a losing day or even a losing week gets you too upset, you are probably betting too much. You need to be able to take those short-term hits so you can be around for the long term spoils. Bet a small enough percentage of your bankroll that you can survive the short-term losing streaks.

Begin to manage your sports wagering like a business, that doesn't need a good day, or a good week, or even a good month, but needs to show a profit at years end. If you can cap out 55%+ this is the only way it can be done!

Remember:

• Even at 60% winners you lose 52.48% of all days you bet!
• Counterintuitive as it may sound, winning is losing...But don't fight the losing days. There will be many of them.