The Seven Deadly Sins Of Sports Betting

| June 7, 2011 | Reply

A couple of months ago I gave you my ten commandments of sports betting…

It’s still available here…

And now, continuing with the biblical theme, I want to share my seven deadly sins with you.

I’m not exactly the religious type (had you guessed?!) but I’ve always loved the idea of seven deadly sins.

Maybe it was the film ‘Seven’ or maybe it’s just the exaggerated drama of it all but irrespective of all that, it’s also a great way of remembering what NOT to do when you bet.

These are cardinal errors that people commit time and time again and while they may not be deadly in the literal sense, they can leave a pretty hefty dent in your wallet…

And unlike the original seven deadly sins, the act of committing them isn’t half as much fun!

Greed

The most dangerous of all the betting sins, greed is the biggest cause of people losing money when betting.

Fact is, picking out winning bets is just the start…

They’re no use at all if you’re only going to throw those winnings away by trying to ‘double up’ without good reason.

If you net a big win and no other bets take your fancy, then take your money and go and do something else…

Who knows, you might even enjoy the break!

Gluttony

Easily confused with greed but while greed focuses on money, gluttony is all about consuming more than one requires.

Betting should be considered and selective, rather than haphazard and slapdash…

Don’t bet for the sake of it and if you are going to back big multiples, ensure that stakes are kept to a minimum.

Sloth

Making money from betting aint easy and anybody that is enjoying success is either putting in a lot of work or paying somebody else to do likewise.

Research is crucial and betting on events that you know nothing about is always going to end in tears – unless you’re well advised of course.

I have no problem with tipsters providing that, like me, they are proven to be profitable…

But if you’re going to make your own selections, prepare to put in the graft.

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Wrath

When betting it’s crucial to keep your emotions in check and ensure that they don’t get the better of you.

Yes, it’s a bit s*** when your bet is spoiled by a stoppage time goal or a faller at the last but that’s no reason to lash out and place a silly bet in a bid to win your money back.

Tough as it may be to believe, the world is not against you and luck does generally even itself out over time.

Kick the sofa, kick the cat, kick the partner but DO NOT kick out with a stupid reaction bet.

Envy

It may be a well worn cliché but it’s true – the grass isn’t always greener.

If you decide to follow a system or a tipping service then it’s important that you stick to it and don’t run away at the first sign of trouble.

Obviously you should ensure that the service is genuine and is based on a strong track record but providing those two criteria have been met – give it a chance!!

If you’re unsure then paper trade by all means but if I read another forum post or comment on a website claiming that a service is useless on the basis of one poor week, I will hunt down the person in question and shoot them in the face…

Well, I won’t really but trust me, I’d like to.

Vanity

No matter how good you think you are, there is ALWAYS room for improvement.

You can actually learn just as much from your losing bets as your winning ones, so it’s important to keep a track record and regularly analyse what’s going right and what’s going wrong.

It can be all too easy for one lucky win to gloss over what is actually a pretty major flaw in your betting.

Lust

Ok, so it isn’t quite lust but don’t back teams or individuals that you support without a genuinely good reason – your judgement WILL be clouded.

On a similar note (and if you want something genuinely lust related) feelings of love actually reduce your brain’s capacity to think logically, so don’t back anybody that you fancy either.

I’m guessing that’s not a major issue if you mainly bet on horseracing but you can’t be too careful…

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