Is sports betting a bad thing? Is it any worse than alcohol or other addictions? I have had a lot of luck from betting on various sports.
I find the addictive part about it seems to be when you get the negative feeling that takes over after a hard loss that is a heartbreaker and emotions start to take over. If you are impulsive enough, the bets can add up fast.
There are a few things I try to do to avoid major losses consecutively.
1. Go to a coffee shop after a big win or loss. By the time you walk there and order something the chances are the emotions have died a bit. When you sit down for coffee, count all the good things that you have going for you. Revaluate where you've been, where you are and where you want to go.
2. Mix in heavy favorites along with some huge underdogs. This is a bit controversial. I have heard that you should never bet anything -140 or below. However, if -700 odds for a team to win the odds are they are going to win. You can't do this all the time. A bettor needs to bet on some underdogs at some point to give a mix.
3. Parlays. They help decrease the amount of money that you will wager. It tempers expectations and can add significant gains.
4. Futures. A future bet is when you place a bet on who will win the Stanley Cup. This bet is high reward low risk because you can get plus odds on the favorite and there is enough time for your equity to increase which means there is a higher risk of not missing the money if it loses.
5. Other forms of passive income. When I'm in a losing streak I turn my mind to other forms of passive income like my stock portfolio until my emotions are back to where I need them to be in order to bet confidently again.
My bet for tomorrow:
Houston Astros to beat Miami Marlins at home -225.
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