My return to Cape Town and naturally my immediate return to betting were marked by eight wins in a row and I now stand at 11/12. This past weekend however, I’m two from two and contented in having not chased the high that the previous two weeks had held. Mature betting is good betting.
Returning to my likening of a betting account to an Allan Grey fund, when the stocks are good and you’ve invested wisely in them, one doesn’t continue to try finding value in valueless stocks for the sake of a streak or the adrenaline of a return. One generally remains pleased with the spike in the market and then waits for a similar time to come again. Put this into betting context; I won 8 in a row on sports I both love and know, and saw great value in when weighing my knowledge of them against the odds and bets on offer by the bookies. That doesn’t mean this weekend, where no bets really jumped out at me, that I was going to carry on seeking value where there was none to be found. It’s a rule I mentioned in one of the first shows with the MoneyBoy and have discussed at length since; don’t go chasing bets.
Chasing bets, I believe, turns one from an investor into a gambler, the connotation of a gambler not being one of a considered and responsible individual. Always err on the side of caution, especially when you are not struck by any bets, as the bets one doesn’t place often prove to be of equal value to the ones placed. The best gauge for this is your initial instinct or excitement when seeing the bookies offerings. If it doesn’t seem enticing, trust that there’s a reason for that
So, after a quiet but, happily, successful weekend, I’m turning my attention to the upcoming week which sees a lot of soccer and another NFL Sunday to look forward to. Good luck betting this week folks, and stay tuned for my discussion with MoneyBoy as he finds his feet in the soccer world.