Gambling, betting, investing...name it what you will. I've noticed something disturbing about people who bet. Even the most intelligent, calculated people lose all sense when they catch the gambling bug. Let me correct that point, most people lose objectivity, logic, sense. Some take their betting very seriously, as they should.
Perhaps the main problem for many punters is they bet for a buzz. It's an adrenaline kick. To be fair, most people bet for fun. Even people who have been betting for decades. Why do I say such a thing about seasoned gamblers? Because for all their years of betting, very few learn how to bet in a disciplined manner.
They have a basic understanding, idea, thought and it often stays at that fledgeling level. It's like learning basic French but they stay on at college for a decade without progressing to the intermediate or higher level. It isn't that they cannot achieve a higher level but they just don't try satisfied with a thought they know enough.
Interesting question: How do you select a tip?
Answer: Like everyone else!
That's the mentality of most people who gamble. However, if you know anything about horse racing, poker or a skill-based sports betting you should find that answer quite funny, worrying or terribly shortsighted. There is a world of difference between a naive and professional gambler.
The major point is that they don't bet for fun.
Betting for most people can only be considered fun because they don't have the skills, experience or knowledge to be viewed as professional. They may think they have a level of knowledge but the majority of punters don't. You need only to scratch the surface to appreciate there is no depth or understanding. Most lack a basic understanding. Even if they bet serious money it doesn't make them professional. The point is they don't realise they are lacking.
Fun betting, for the buzz, is, in my opinion, bad news. If there is no reason or rationale to why someone bets then everything is a potential bet. That's why people bet, chase their losses, lose even more and their life falls apart. Betting may seem a pretty innocent pastime but without discipline, understanding, consideration and planning it is a bad decision. It's a matter of how much you will lose.
The principles of betting are more important than the selection itself. The wise man doesn't build his house upon the sand.
The phrase: Bet what you can afford to lose. It is a basic principle that will help most save them losing their shirt. However, if you don't have an answer to a question, when will you see the word STOP? Guidelines, built on knowledge, are key to success.
Too many people do not appreciate their true naivety when it comes to gambling. Experience comes with time if you have an open mind. Horses aren't the only ones who wear blinkers.
Betting in a routine fashion is brainless. The man who routinely pops into the bookmakers to bet on the machines. If he calculated how much he lost over one year it would be staggering.
There are hundreds of examples of betting without thinking.
Don't bet for fun. Don't bet for the buzz. Bet because, on balance, you know it is a wise investment based on knowledge, experience and skill.