How people react to situations particularly adverse or stressful ones is largely a function of their levels of resilience. When betting on sports this resilience is affected by three elements. Financial resilience, psychological resilience and physical resilience. Acknowledging these is key managing your sports betting behaviors.
If resilience is about being able to keep going and stay in the game then having a sufficiently sized betting bank and appropriate staking strategy is absolutely critical. Financial resilience may in fact be the most important factor of all due to the knock on psychological effects of being undercapitalized or taking big or sustained losses.
Financial resilience has three levels to it:
You personal level of financial wealth
The allocation of capital you have to bet with
Your stake per bet
Think of your betting bank as being a wall, and the bet size as being the size of rocks being thrown at that wall. A small wall for protection and big rocks being thrown is going to be a hard place to survive for long. A big wall for cover and small rocks being thrown provides much greater protection and likelihood of survival.
Sometimes defined as a process, other times as a trait. In all cases, resilience presumes exposure to stressful conditions and an ability to maintain high levels of emotional functioning throughout this exposure.
Psychological resilience is about how you mentally deal with perceived tough situations. Cognitive psychologists suggest that an individual’s “explanatory style”, how they explain events to themselves, the meaning that they give events, can be a significant factor in influencing their level of resilience and performance.
The final component of resilience is physical resilience, essentially having the energy to cope with everything. Betting can take a lot out of you physically as well as mentally and emotionally. When you are physically run down your body lacks the energy to mobilize the high-energy emotional states it needs to operate at its best such as challenge, confidence, focus and concentration. Because you are low in energy your mood is affected and most people find that they often make more mistakes, get irritated, angry or frustrated more easily and lose motivation and the wanting to bounce back and perform in this state. During such phases take extra care to ensure you are getting good sleep, eating well, staying hydrated, getting some exercise and importantly some relaxation and downtime.
When betting is going well it feels great. A key reason for this is because of the positive emotions you are feeling and the chemical release of feel good hormones within your body. The biggest hurdle when people are being successful with their betting is making money. It can breed overconfidence, complacency, laziness, and in some cases arrogance, and anyone of those emotions can drive betting behaviors that are ill-disciplined and will ultimately lead to increased frequency or size of losses.
Many people work hard and achieve good results only to fall off the wagon and give large amounts of their betting bank away. When you begin to make profits from your sports-betting one of the key strategic decisions you need to make is what you are going to do with those profits. Sign up at WagerWeb.ag and start making those profits.