Why patience is an important characteristic of a gambler

It is a fact that good money can come out of betting on a regular basis. It is not a lie that many people make a living out of gambling, but the detail that many overlook is that it takes hard work, discipline and patience to succeed.

Understanding the psychology of the gambler is as important as having the right information and betting on the right bookmaker. Not everyone bets for the same reasons. There are many reasons why we bet, but regardless of our motivation, if we want a steady profit, then we have to follow certain rules.

Why gamblers need to be patient

Patience – the ability to accept delays and problems without getting confused or stressed. This is a characteristic of human nature, which we often neglect or underestimate when talking about betting. Being methodical and following a good betting model is important, but in an environment where luck is so important, patience is really valuable.

The law of large numbers is probably the best way to explain how important betting is. We talk about whether a coin will come head or tails and whether the roulette ball will end up in red or black, what we expect logically based on mathematics and statistics in a limited sample. At some point, after a large sample of spins the number of heads and letters or roulette colors will become even. It just takes patience so that the sample which we are testing is not small because our expectation will probably not be confirmed.

Note at this point that a competent poker player can have cash losses even after 100,000 hands, ie for two years playing poker 40 hours a week. This is rather an extreme example but it shows how important it is to understand that even when we have the advantage in a game, it can take a long time to see positive results.

Short-term and long-term profit

One of the cases in which patience helps is the tendency of people to choose an immediate but smaller reward than a bigger one that will come in more time. Different betting profiles are suitable depending on the method we use. Some gamblers want immediate and big wins and for this reason they bet all their money at once, even if there is a high risk of losing. Others use progressive methods, increasing their stakes after defeats to make up for losses. All methods, fixed betting, percentage of capital and progressive always have some risk, either bigger or smaller.

Every decision we make is based on the view that we maximize our advantage and minimize our losses. However, this does not always apply to betting. If, for example, a player wants to bet 10 euros or dollars on an online bookmaker that offers odds at 2.22 but the same event is also available at odds of 2.25 at another bookmaker (difference of 0.30 euros or dollars in case of victory) , will he use another bookmaker? Maybe yes or maybe no. If the same player has the same option but wants to bet 100,000 then the extra 3,000 really make a difference. However, in both cases the player has the ability to maximize the benefit he has.

Players who play consistently and seriously know how important it is to always bet on better odds. They know that this usually requires more effort and that with patience they will make more profit with better returns. We also need to realize that stress does not make us think properly. The calmer we are, the more sensible and effective are the decisions we make.

How new technology helps us

Beyond sports betting, technological advances have made acquiring goods and meeting our needs easier than ever before. You can order pizza at the touch of a button and you do not even have to move around to do most of your daily shopping.

Of course, technology is also evolving in sports betting, creating new services and amenities that are often not good choices. You may have seen proposals for bets appear on the site of the bookmaker you are using. Click and the ticket is ready, but just don’t do it… Be patient and do not bet your money on ready-made solutions, suggested by others (let alone proposed by your opponent, because your real opponent is the bookmaker).

Waiting for the inevitable

In conclusion, gamblers need to be patient and look further. If you are convinced that your strategy works, but results are not as expected and you lose, you should understand that it is just a sequence of lost bets on a larger sample that will ultimately bring you wins and profit. The important thing in sports betting is that the player gains an advantage over the bookmaker and knows how much he is betting and how much he should expect to win. However, beyond the winning system, one must show great patience to achieve the desired results. Sports betting is not like the lottery, it takes patience. You cannot become rich in one day, so don’t think and act too big.