Sports Betting to Win by Steve Ward

Author:Steve Ward
Language: eng
Format: epub
Publisher: Harriman House

Biology

Belsky and Gilovich, in their book Why Smart People Make Big Money Mistakes, state that expecting mechanical precision from human beings is foolish. Attempting to override millennia of programming is a major challenge. The abilities to compute moving averages, build spacecraft and understand cricket are relatively recent and sophisticated biological innovations.

We can’t afford to underestimate the power of the inner primate whose primary need was survival and not, alas, making money from betting on sport. Sports betting can drive us to do things that make no logical sense – but make perfect emotional sense. In some ways, as Jason Zweig states in Your Money and Your Brain, “[t]hat does not make us irrational. It makes us human. Our brains were originally designed to get more out of whatever would improve our odds of survival and to avoid what would worsen the odds.” Many of our human instincts are emotionally driven and are contrary to the analytical processes needed to be successful in something like sports betting. Learning to think and act in rational ways, utilising our more recently developed ‘smart brain’, is a key part of the learning and development process for achieving success. It is something this book has tried, in effect, to address continually.

How your brain processes making and losing money

In his book, Your Money and Your Brain, Jason Zweig cites neuroscientific research that suggests that when you lose money the same part of your brain is activated as that which deals with mortal danger. Likewise, when you make money you activate parts of the brain that are activated in a similar way by the consumption of morphine or cocaine.

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