What Are Your Betting Goals?

If you are serious about making money as a sports bettor, you will need to learn how to set useful goals.  One of the biggest mistakes you can make as a novice is to neglect this aspect of your betting psychology.  Why?  Unhelpful goals can mislead you and cause you to make poor decisions.  They can lead to disappointment in situations where you should actually feel encouraged.  They can actually ruin you over time.

An example of an unhelpful betting goal is something like this:  “I want to turn £200 into £20,000 this year.”   

The problem with this goal is not that it is unworthy in any way.  It is absolutely laudable to turn £200 into £20,000.  The problem with it is that it is an unrealistically high return, and it also includes a deadline which is way too close to the present.  How will you feel if you are nowhere near that goal in a year?  What kinds of bad decisions might you be tempted to make to catch up?  What if you only have £2,000 on month 11?  Will you be tempted to wager £500 on a wager?  If you could just get that one boost you need …

This is a recipe for disaster.  This is why it is better to set goals that will encourage you to make smart choices.  Measure your progress not by the pound amount in your account balance, but by your win percentage and other helpful statistics governing your betting account.  Are your statistics improving?  Are your returns consistent or getting higher over time?  Are you making intelligent decisions?  Are you becoming more disciplined?  Are you learning how to manage your money?  Are you developing strategic knowledge in the sport you have chosen to follow?  These are all great signs of progress, even if your account grows slowly at the start, as it most certainly will if you are starting out on a limited budget. 

Here are some more helpful examples of goals you could set for yourself:

• “I want to win 80% of my bets this year.  This should be possible based on my test results.”
• “I want to get better at managing my money.  I have made bad decisions in the past, and this year it is my goal never to bet more than 5% on any wager.”
• “I want to become a more disciplined bettor.  This year I will actually stick to my schedule for watching and analysing games.”
• “This year my goal is to stick to my betting strategies.  I will do what I can not to lose any wagers, and let my profits take care of themselves.”

Always remember that helpful goals are S.M.A.R.T. goals.  They are Smart, Measurable, Attainable, Relevant, and Timely.  Those are the kinds of goals which are actually achievable, and can provide you with positive feedback on your performance.  When you can see yourself doing well, you feel encouraged to continue making smart choices, because you know that ultimately those smart choices will lead to a higher and higher account balance.  Setting goals like these is actually a surer way to turn your £200 into £20,000, or even £200,000 over time.  Let your growing account balance be a simple side effect of your dedication toward S.M.A.R.T. goals.