Can the knowledge gained in adolescence and adolescence help betters when placing bets? Find out about this from our today’s material.
Some have spent years honing their skills and using many different strategies in an attempt to beat bookmakers, others, having changed several professions, come to the world of betting with already formed experience and skill. However, neither one nor the other does not think that they took most of their knowledge from school.
At the same time, the results of studies at school or university by themselves do not directly affect the success of betting. Such qualities as general knowledge, curiosity, and, if you like, meticulousness are much more important here. Let’s explain it with the following example.
A young man named Dave was introduced to the world of betting in his sophomore year at university. At the same time, economics was best given to him during the years of study, while academic performance in other disciplines was below average. However, logical and rational thinking, as well as concepts drawn from lectures and works on economics, helped him to become one of those who are called professional bettors in a few years.
Thus, already in elementary school, we are given some basic knowledge that can later be applied when placing bets. Further degrees of study improve our skills.
Primary school: basis
The Law on Gambling provides for age restrictions for gamblers (in our country – from 18 years old), however, some basic knowledge, even if mediated children, begin to acquire already at the age of 5-6 years, when they first encounter numbers and the score .
A little later, schoolchildren are given an idea of ordinary and decimal fractions – later this will help them if it is necessary to figure out how odds are formed in bookmakers. A year or two later, children are faced with such a concept as probability. Probability, in turn, is reflected in the values of the coefficients, but the ability to calculate it is instilled in us at school.
The bettor must estimate the probability of the outcome (coefficient) calculated by the bookmaker, then independently determine the probability of this outcome and, having found discrepancies in the predictions that guarantee a positive mathematical expectation, place a bet.
Secondary School Continued
We cannot neglect the algebraic functions that we learn about in middle school. By improving this knowledge, bettors are building the groundwork for understanding more complex theories, how betting systems work, and the requirements for developing a forecasting model.
Deepening knowledge of the theory of probability allows you to understand what, from a mathematical point of view, is randomness and luck. At the age of 15-16, we learn about the Poisson distribution (calculating the probabilities of outcomes using averages) – a method that more experienced players use to predict the score of a soccer match and other similar goals. And even if the school does not mention this, the basic principles of this method remain unchanged.
University: a launching pad for betting
At the university, we all get a certain profession. Recently, in some Western countries, it is possible to obtain a specialist degree in betting, although, of course, this discipline is still exotic and hardly guarantees the success of the graduate’s results when placing bets.
The profession of a trader, a player on the stock exchange is much more widespread. As we have already said in our previous materials, it is inextricably linked with the betting game; it uses generally the same principles and methods. Moreover, the rates themselves are already perceived by many as an investment asset – for example, exchange rates or securities. It is not for nothing that it is believed that most of those who have mastered the specialty of a financial broker can realize themselves in the field of bets.
A diploma in probability or statistics will not be superfluous for the future bettor. Happy owners will be able to predict the course of future events by creating models and analyzing previous results, which is the essence of betting, and also test their skills learned at the university.
More about the benefits of education
However, not only mathematical sciences can help in the future in betting. Psychology, for example, is a very useful discipline: learning about concepts such as fear of defeat, player error, and heuristics will help them on the thorny path of acquiring new knowledge of betting. And behavioral economics (a synthesis of psychology and economics) is generally one of the most essential disciplines for bettors.
However, even being a “round” excellent student in the above disciplines both at school and at the university, a bettor does not necessarily become a professional. It is important not only to gain knowledge, but also to learn how to apply it correctly and constantly improve it.
So, most often without even knowing about it, from childhood we get the basics of knowledge that we need to play at bets. But, as in any important business, 90% of the success in betting still depends on ourselves.