Some of the main principles I follow in my life and betting.
Train your mindset
- success in betting, as in life in general, is mostly dependant of how our brains process information and what are our habits and narratives in our mind interpreting and reacting to the incoming information. We really get what we reflect - you see the world not as it is, but as you are. Life mirrors back to your mind and presence. Hence, mindset is the uttermost crucial element for continuous success in a business of decision-making.
"Personal free will" myth
- we usually just react how the object stimulates us and how the object is compared to others in contrast in particular context (our brains are wired to perceive things in contrast) - and then we make a decision which is highly determined by our genes, surrounding culture, personal experience in life and of the particular social situation - so our decisions in social-collective competitions are usually a mixture of a) our strong personal predisposition based on our identity and genes; b) continuous cultural evolution and current cultural trends surrounding us mixed with a social context
We may have a personal free will in our own conscious, but social physics laws strongly dictate the behavior of the masses.
Instinctive part of the brain is much more powerful than conscious reasoning part of the brain
- for successful betting analyze you gotta process everything through your unconscious mind - analyzing information only through conscious mind without a judgement of your instincts (or intuition) will not lead you to remarkable outcomes. Reasoning is for helping and overchecking intuitive judgement.
Still, skilled instincts and pattern-recognation come with time and experience, through trial and error; beginners shouldn't trust their intuition too much.
Be an "emphatetic wolf"
- never trust too much of the pre-contest bubble and "expert opinions", they are mostly looking at the situation through their own current matrix (not counting in the change of the context when people get hive-minded), creating kind of a "mirage" at that point; don't become a part of the herd there and let them influence your vision too much (if you don't agree with them). But be emphatetic to people who will really decide the results in the end (public, juries etc) and try to look everything from theirs point of view considering the final context and environment when it is really time to make their decisions. People always adapt to a particular context.
If there's enough signal of their potential judgement, then you can go with a herd, if the herd is going in the right direction.
You gotta take risks
- being a bettor is in huge part of being an opportunitist, as is the case with many entrepreneurs. If you bet actively, then there can be many events with small profits and with small losses, which in the end doesn't matter too much. But if you see a great oppurtunity, have a strong conviction there, then you gotta have "balls" to make bigger moves. That's what differences in most cases "good bettors" and bettors who actually make good money. At the same time, being unskilled and overconfident is still the worst combo and easiest way to a disaster. Don't go amok with small experience baggage, money management is still crucial in long term.
