FTS Betslip Mindset Podcasts Episode 4 – Patience & Discipline

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FTS Betslip Mindset Podcasts Episode 4 – Patience & Discipline

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31/07/2023

Discipline is a fundamental skill to succeed in sports betting/trading, as it helps bettors/traders stick to their strategies, manage their bankroll, and avoid impulsive and emotional decisions.

Successful sports bettors/traders develop a set of rules or guidelines for their betting/trading strategies, and they stick to these rules consistently. They do not deviate from their strategies based on emotions or outside influences. This helps to minimise losses and increase profits in the long term.

Another aspect of discipline is bankroll management. Bettors/traders need to have a set amount of money they are willing to risk on each bet, and they should stick to it regardless of the outcome. This helps to protect their bankroll and prevents them from making impulsive decisions that could lead to significant losses.

Discipline also involves the ability to avoid chasing losses. Bettors/traders who are experiencing a losing streak may be tempted to increase their bets to try and recoup their losses quickly. However, this is usually a bad decision, as it can lead to further losses and even bigger risks.

To develop discipline, bettors/traders should set clear goals and guidelines for their betting/trading strategies and stick to them consistently. They should also develop a routine that helps them manage their time and stay focused on their strategies. Finally, they should avoid making emotional decisions, such as betting/trading on a whim or chasing losses, and instead, focus on the long-term goals of their betting/trading strategies.

Discipline requires investing time and effort into researching and analysing relevant information. It means making informed decisions based on data, statistics, and trends rather than relying solely on intuition or hunches.  This is where I see many members fail. They believe they can make this happen overnight.  We wouldn’t become a surgeon overnight, so why do we think we can make it as a sports bettor/trader overnight?

Patience comes hand in hand with Discipline and is another skill required to be a successful sports bettor/trader. 

Patience is having a long-term perspective in sports betting. It means understanding that sustainable profitability takes time and is only achieved after a period. Patience lets you stay focused on your goals and avoid chasing quick wins.

Patience is crucial during losing streaks, as they are an inevitable part of sports betting. It means not getting discouraged by short-term setbacks and maintaining confidence in your strategies.  Allowing your strategies to play out and normalise results over time.  Resisting the temptation to make impulsive changes based on short-term fluctuations and trusting your process.

Patience helps control emotions, preventing Impulsive decisions driven by frustration, excitement, or fear.  It allows you to make logical decisions based on analysis and logic rather than being swayed by temporary emotions.   

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