Are You Ready to Bet Live?

A lot of new bettors jump straight into sports wagering (and subsequently lose money).  If that happened to you, you probably switched to what you should have been doing in the first place, which is demo testing.  How long do you wager “on paper” before you start betting live with real money, though?  How do you know when you’re really ready? 

• You are able to bet without emotions getting in the way.  When you first start betting, even on paper, odds are you are going to feel like you are at the mercy of fear, excitement, disappointment, anger, and a slew of other emotions.  When you are able to bet without these emotions exerting a strong influence, you are probably getting to the point where you are ready to go live for real.

• You have your money management system down.  Do not bet with real money until you are great at calculating the percentage of your account that you are going to wager on each bet.  Make it the same consistent amount each time; three percent or close to it is a good choice.

• You are capable of recognizing the best betting opportunities and forgoing sub-par situations.  Even though all of this is on paper, you should take careful notes and write down whether you “won” or “lost” each of your bets and why.  Never lie to yourself.  If you broke your own rules and took wagers you shouldn’t have, write that down.  Only start betting with real money when you have the discipline to take the very best bets only.

• Your betting strategies are actually working.  This is the most important thing.  Are you actually profitable on paper?  Are you profitable enough to make up for fees and losses?  You need to be profitable on paper for a number of wagers before you think of investing your real money.  It is a good idea to do at least several profitable months of demo testing before you make a deposit on a betting site and start putting your hard-earned cash on the line.

Some bettors have a hard time holding themselves back.  They want to jump in head-first and start betting.  These bettors often have a problem with self-discipline.  Another great advantage of demo testing is that it teaches some of that discipline.  So if you find yourself in this category, you will probably be much better suited to betting and winning after you complete your demo test.

For other bettors, though, performance anxiety can be a big deal.  If you are really nervous about going live, try to make your decision based on your objective results.  Realize that you will probably never feel completely ready, even if you are.  Eventually you will just have to take the plunge and do your best.  As you start winning real money, your confidence will grow.  There is nothing wrong with being cautious; it is generally a good trait for a bettor to have.  Just don’t let it stand in the way of your success!