At this point, it seems like there's a new state legalizing sports betting every month! With New York being the latest one to open its doors, it won't be long before 30+ states have legalized in the next few years.
With legalization comes a lot of new, inexperienced bettors who believe that the only thing required to be successful is to pick winners.
Now, you know that being able to make good picks is vital to success, but it's only half the story.
Sports bettors also need to be able to
Avoid gambling traps
Know their strengths so they can exploit them
Know their weaknesses so they can improve upon them
Let me give you a simple example of how a gambling trap can cause bettors to lose even if they have a winning record.
Bettor A placed 15 bets over the course of a week on the NHL. The first ten bets he puts down 1u each and wins all ten! (for those doing math, with odds at +110, he's up +9.1u)
Now Bettor A is feeling good, like he's on a hot streak, and decides to double his wager amount to 2u each for the next five games. His streak comes to a crashing halt when he ends up losing all five. (with odds at +110, he's down -10 units)
Wait, so Bettor A just picked 10 out of 15 games to win (66%) but lost money? YES, he fell into the classic "Hot Hand Fallacy" gambler trap - a trap where a bettor feels they are on a hot streak and begins to wager more.
Here's an example of how a bettor not knowing their strengths/weaknesses can hurt them.
Bettor B is a big NBA gambler. He's had an average season, teetering between winning and losing, but trusts that he'll improve as the season goes on. What Bettor B doesn't know is he's actually crushing it betting ATS on away teams, but doing awful betting on the total for teams that have come off of a 2+ days rest.
Because Bettor B doesn't know his strengths and weaknesses, he remains an average gambler over the season.
So how do you avoid these gambling traps? How do you go about knowing what your specific strengths and weaknesses are?
Tracking your bets.
Tracking your bets is the only real way to monitor where you thrive, and where you barely get by so that you can put your focus on areas you're good at, and improve on areas you aren't. You can also easily monitor your bankroll and avoid common gambling traps.
But let's be honest, manually tracking your bets on an app or spreadsheet sucks. It's tedious, time-consuming, and leads to a lot of errors.
We HATED manually tracking our bets and wanted an automated solution that would give us real, actionable insights right on our phones.
And that exactly what we are building here at FixdPicks! A bet tracker app that allows you to sync your sportsbooks to it, place your bets as you normally would on your sportsbook app and every bet is automatically tracked right on the FixdPicks app.
This provides you with powerful insight into your bankroll, your record, what traps you've fallen into, and your strengths and weaknesses - a sports bettors dream!
If you're reading this, I want you to be one of the early Beta testers of the app. Learn more and get early access by signing up here!