Some bettors have spent years working on their ultimate goal, to beat bookmakers. Others simply developed their skills in other areas and eventually transferred these skills to betting. Everyone follows his own way of betting, but they all start at the same place, school.
Of course each bettor has a different educational level. Some may have enjoyed school, others may just still hate it and others simply did never go to school. Although there are no specific qualities to guarantee winnings on betting, often little basic knowledge and “thurst” for knowledge are prerequisites for success.
Education at university lever and upwards, enables bettors to make the best choices and to find more value in their betting selections. However, lessons are also learned from the beginning in school and then allow us to develop them furthermore as we learn more things at school and later on.
Starting school
Although there are restrictions on gambling everywhere, which prohibit children from dealing with it until they reach a certain age, we begin to learn about betting issues (indirectly, of course) very early in our childhood, at school. From the age of 5, children begin to learn basic concepts in mathematics, which are very important for success in betting.
When we learn about decimal numbers and fractions, we basically understand what betting odds represent. In addition, we begin to learn about math odds really from very early on. Due to the fact that betting odds represent probability, if one wants to understand betting odds, he must first understand the theory behind probability.
The goal of a bettor is to evaluate the odds offered by the bookmakers, to identify those he considers to be higher than he thinks to be the regular and to bet on them, ensuring a profit. Although this process is quite complex, it would not have been possible if the bettor did not understand the basic principles of probability.
Also, the importance of algebraic equations we learn at school is particularly high as it later enables bettors to develop more complex betting theories, to analyze how betting systems work and to create their own predictive models.
Secondary education
By the time students begin to be taught the theory of probability and understand what luck really is. This happens somewhere in teenage years. The study of statistics also begins in high school.
University education: Finding a career in betting
After school, some continue their studies at a university or college. From general education, students now focus their studies on more specific topics. Financial studies are directly related to betting. The correlation is obvious as these degrees require the skills you need when dealing with betting (mainly risk management and buying at prices that are considered to be profitable). It is no coincidence that many who are engaged in finance are good at betting and that there are clear links between finances and betting both academically and professionally. At this level, education can help one to create betting models for predicting future results, based on statistics and results from past events and matches.
What else can school offer us?
Mathematics is the most important part regarding betting, but things do not end there. Those who have studied psychology or are specialized in computer programming and like betting, know how useful their education is. Besides mathematics, psychology plays a significant part in betting, since the bettor is required to be calm, committed to his task and work systematically. So the study of psychology and its combination with economics is the best thing one can invest in when he wants to be successful in betting.
Of course, we always say that theory and practice are two entirely different things. The later is always much harder to bring success. The number of available selections and options is huge and before anyone who eventually decides to bet his money, will have to think of a bunch of a lot more things, that he did not learn at school.
In conclusion, we would say that we learn a lot about betting without even realizing it, and that is achieved through education. Lack of education, however, should not be considered such a disadvantage.