03 Dec Why It is Important to Follow Your Own Voice
When you search the internet for betting advice, you will come across many different tips. And on the surface, you think to yourself, “man, this is some sound advice”. Yes, that can be true on paper, but are they really applicable in real life?
High yield investment programs on Betfair, for instance, is a schizophrenic minefield. There are some advice out there that might work, but in actuality, people are just talking about two different betting models.
I am talking about the lottery and insurance models. The lottery model is more concerned about risk and reward; the 2:1 ratio, if you will. It doesn’t matter when you enter the market, but it is all about exiting.
The Insurance model pretty much follows its namesake. It is concerned more about getting all the winners (the bettors) and it doesn’t really matter what you do because you’re pretty much guaranteed to win.
But, although they may sound good in theory, that is actually not the case in reality. You see, if you follow the lottery model, although there is a promise of high rewards and there’s pretty much less risk involved, it is all about the timing of your exits.
If you exit too early, that is akin to losing your lottery ticket before you cash in. Betting on a peak, for example, is the best way to exit so that you can win big without losing anything at all.
But, how about if you’re following the insurance model? Well, the insurance model, although seemingly safe on the surface, has some underlying secrets that you need to know.
Your wins are practically guaranteed under this model, but your wins are actually not wins if you think of it from a profit standpoint. Yes, you are going to win on bets, but it doesn’t necessarily mean that you win big. That is the problem with this model. If you’re going in using the insurance model with the hopes of winning it all, you actually aren’t winning it all; you are just winning some.
Listen to Your Voice
Now, at this point, it might seem so confusing, but hear me out. The only advice that you really need to follow is your own voice. Wait, what?
I know that I’ve discussed the lottery and insurance models and they’re pretty much the de facto standard when it comes to betting, but following such strict rules will not really make you rich.
It is about being flexible and following your own voice. Truth be told, your “gut feelings” are almost always right. So, if you feel that this bet is not going to be a good one, then don’t continue on.
Following either the insurance or lottery models are only good if you’re starting out, but if you want to win big, you’re better off using your own set of strategies. As some final words, follow what your mind says. Don’t believe the pre-existing models as they can be far too limiting.