Emotionless Betting to Get Rich
Importance of emotional management
If you’re someone who bets with sports books or actively trades at betting exchanges, you’d be aware that such trading or betting can trigger all sorts of emotions. Right from the initial exciting rush as a valuable opportunity emerges, to despair or elation depending on the way things turn out, emotions can continue taking all sorts of shapes even long after bets have been settled. No matter whether you incurred a loss or profit, making second guesses and their effect on emotions is all an integral part of sports trading and/or betting.
Although we are constantly aware of all such emotions at a subconscious level, we may not always be able to consciously recognise them, and pay the required amount of attention to them when our brains are in an excited state. This is an extremely important point because the research clearly reveals that emotion management can significantly improve our decision-making ability and overall performance. And sports betting is all about making correct decisions at the right time and right place.
Emotional management is something that’s carried out by a part of our brain referred to as amygdala. This part functions as the memory chip of our brain and stores all our emotions, whether negative or positive. All such information is utilised in the form of a sensor, with current situations constantly getting compared against historical experiences. It is such constant referencing of the past events, with respect to the present events, that defines our decision-making ability and overall behaviour. It in turn can have a major impact on our betting endeavours and the amount of money we make from sports betting.
How thinking without thinking can help you get super rich through sports betting
Refer any off-line or online material on sports betting and you’re most likely to come across the importance of studying various markets and betting theory. You’d be made to believe that it takes anywhere around 10,000 hours of consistent practice to master effective betting skills. Well, although 10,000 seems like a very nice figure, especially from the perspective of physical activities, putting in those many number of hours into betting activity can be a major ask. Spend 8 hours per day, 7 days per week and you’ll still take anywhere around 3 years to complete those many hours!
If you read between the lines you’d understand that what’s actually meant here is that you need to put in plenty of time to understand market movements. And since market conditions are changing constantly, and no two people learn the same things at exactly the same speed, the time taken by everyone to master sports betting can vary significantly.
Each one of our actions, feelings and thoughts are decided and strengthened by our every experience. Every neural connection that comes into play is strengthened by some degree, while those that lay unused, get weakened over a period of time.
A sports bettor and more importantly a trader should be able to identify value and make it count in the quickest manner possible. It’s imperative to watch hundreds of events and keep a close eye on the corresponding market movements in order to better understand the trading and betting activity in a market. It all happens subconsciously and instinctively once you’ve done it for quite some time. You are easily able to recognise whenever a price is wrong, meaning that there’s not ample value in it.
The human brain is created in a manner that it experiences an emotion prior to a corresponding thought. Every stimuli or thought experienced by you is first registered by amygdala for appropriate emotional impact, before you can consciously think about it or act on it. Our brain is such that we always feel something prior to thinking, and that’s the reason why emotions have such a major impact on our lives.
This can be related to sports betting and trading activity by understanding what happens whenever a sports bet or trade doesn’t go as we expect it to. Our blood pressure and heart rate increases automatically. We get tensed and our breathing becomes heavy. Our brain gets into the ‘fight or flight’ mode as it perceives the situation to be a major trouble. Fortunately in our case, a bad sports bet or trade doesn’t imply that our lives are endangered, unless we bet with other people’s money. Regardless, we do feel threatened.
About the amygdala hijack
This reaction of feeling threatened is referred to as the amygdala hijack. It basically implies that the neocortex or the thinking part of our brain has been bypassed and we’re acting solely based on our instincts. The neocortex is normally capable of processing four different thought streams at one point of time, but in the event of a hijack, our thinking or working memory gets compromised, and we face difficulty in processing even one thought stream. Putting it another way, we are unable to think straight, and that’s the reason why amygdala hijack is considered pretty damaging. Cortisol, which is a toxic substance for our brain cells, may get released inside our bodies, which isn’t good either.
So how can you reduce or avoid the potential harmful impact of a sports bet or trade going against you? This is where SOSS comes into the picture.
SOSS is an acronym which stands for Stop – Oxygenate - Strengthen Appreciation – Seek Information. Although it seems slightly contrived, its steps are highly useful in such situations.
Stop – This is exactly what it suggests – to stop and to not react immediately. Whenever we are stressed, we become prone to making decisions that are based on no more than 5% of the available info, which clearly isn’t enough. It’s important to become consciously aware of any such hijack, and take control of our brain.
Oxygenate – Almost self-explanatory, it implies taking a deep breath. Why we are frequently advised to take a deep breath at such times is because conscious breathing helps us take our minds away from the present situation.
Strengthen appreciation – Although it sounds obscure, looking at it from the sports betting and trading perspective, it implies taking a moment and accepting the situation as it is. The term ‘perspective’ is very important here and it means placing the possible loss in the right perspective. When you do that, everything seems much less serious than our brain actually thinks it is. No one is injured or dying. It’s nothing but money and money always comes back.
Seek information - Last but not the least, this is the step where you improve on the 5% available information. You’re able to take decision based on reason and logic, instead of basing it completely on emotions.
If you’re serious about getting superrich from sports betting, you must learn and master a lesson that sports betting and trading should be indulged in sensibly. Although sensibly is a very relative term and may be hard to determine, what it essentially means is that you should bet at a level where even if things go wrong, you don’t experience an amygdala hijack.
Sports betting or trading is an activity where things will go wrong inevitably. No matter how much of an edge you may have, you’re bound to lose every now and then owing to the laws of probability. In the event that a sports bet or trade does go bad, triggering a hijack, you should instantly reduce your bet amounts as it may get very difficult to the gain control after experiencing a hijack. You may find it extremely hard to make smart decisions in the future unless you take this step.
All in all, you must bet sensibly, keep things in perspective, stay calm and carry on.