Sports Betting

Business risk – negative effects of sports betting

11 - Business risk - negative effects of sports betting

In our previous post, we looked at some benefits associated with online sports betting and how it has brought convenience to gamblers. The success of the sports betting industry has brought us back to a topic on business risks that we covered a few months back. This is out of the realization that with every successful business, comes its own set of risks which if not mitigated can cause the downfall of a business.

Let’s take a look at negative effects of sports betting and how they have affected the industry.

A negative effect on the integrity of sports

The sports betting industry attracts billions of dollars in bets annually. These are usually bets on both high profile and low profile gaming events and tournaments. Because of the high stakes that are usually involved, some gamblers and bookies will often make attempts to influence the outcome of games so that they can win big. There have been cases of referees being bribed to make wrong calls to favor one team over the other, or players being paid to throw away games. Such scandals have been all too common in major tournaments and leagues across the world, and in various sports. This has ended up having a negative effect on the integrity of sports because players stop playing for the enjoyment of the game but rather in favor of the highest paying bookies.

Players corrupted at a very young age

Any popular sport or league will attract sports betting. This even applies to college tournaments such as basketball, soccer and football which happen to be very popular sports because of the huge rivalries that elicit a lot of passion from competing fans. So serious are these tournaments that they attract major bookies and gamblers who have been known to influence the outcomes of games by bribing college players to throw away games. It’s believed that bookies and gamblers take advantage of the desperation of college students struggling with financial issues, and provide them quick money as a solution out of their problems. The dangerof such negative practices is that players are corrupted while they are still just kids and are likely to carry on with these malpractices even after transitioning into professionals.

Such malpractices that have been witnessed in sport betting have resulted in countries like the United States of America criminalizing sports betting. When governments have to take such drastic measures that kill an industry it goes to show the full extent of how businesses can be affected by risk. It’s therefore important for industry players especially in sports betting to be proactivein mitigating negative practices that are perpetrated in this industry for the benefit of their continued survival in the markets where governments have not come in to shut them down.

We invite you to share with us your experiences and success stories in your business adventure.

Business – Important traits of a professional gambler

9 - Business - Important traits of a professional gambler

There are two types of gamblers. Those who gamble as a recreational activity and those who gamble because that’s their business, it’s where they earn their daily bread. This article seeks to look at 3 traits that make professional gamblers stand out.

We will look at gamblers as a whole because whether you’re into poker, sports betting, horse racing, or any other form of gambling, the traits required to be successful are more or less the same.

A professional gambler must be self-aware

41 - Business - Important traits of a professional gambler
As we have mentioned, professional gamblers are in this for the money. If they have fun in the process, well and good. They approach their gambling like a business that is, it’s about profit and loss. This therefore requires a professional to be very self-aware so that they don’t get caught up in the facade of success. This is because in gambling, wins in themselves don’t matter. It’s how they compare to losses that count. A self-aware professional knows not to get too distracted about winning or losing, what matters is that when they balance the books, the wins outweigh the losses. This means their business is turning in a profit.

A professional gambler must be disciplined

42 - Business - Important traits of a professional gambler
Just like in business, professional gambling requires having a strategy in place and diligently implementing this strategy. In most cases, market forces may interfere with your strategy going as planned but you should never let this distract and derail you. Stick to your plan and forge ahead. This is the kind of mentality that professional gamblers must have and it will serve them well. It’s important to be able to stick to your guns as a gambler despite going through a losing phase because sticking to your strategy will ensure you reap the benefits in the long run. Otherwise, if fall into the temptation of changing strategy mid game due to pressure or panic, you are guaranteed to lose out big. Discipline is key.

A professional gambler will always analyze and refine their strategy

43 - Business - Important traits of a professional gambler
Like any other business, gambling is about being able to make adjustments to your strategy based on market intelligence and insights. Professional gamblers will therefore master the art of analyzing their market, their strategy, their game play, past results and other market trends, then use this information to refine their strategy. The key word here is refine. The strategy remains the same but just tweaked a little based on market insights. This is the key to the successful implementation of any business strategy.

If you can learn to apply these 3 traits in your poker, sports betting, and any other gambling that you engage in professionally, you are guaranteed to turn good profits in the long run.

We invite you to share with us your experiences and success stories in your business adventure.

These are the benefits of betting online

10 - These are the benefits of betting online

The sports betting sensation has gone global especially owing to the fact that gamblers can now do it online. It doesn’t matter which part of the world you are at, as long as you have an internet connection, a computer or a smart phone, you can engage in sports betting. This has revolutionized this business and created more avenues for profits for both the betting companies and gamblers as well.

The online sports betting business has become a sensation because of the convenience it has brought to gamblers. It’s now something one can do on the go, and does not require a physical visit to the bookie. Let’s take a look at 3 benefits of betting online.

#1 Betting online saves time

Time is money, this is a phrase we are all too familiar with. Considering the fact that there are numerous potential games available to stake on every day, if you had to make daily trips to the bookie from your busy work schedule, it would cost you too much precious time. Today however, through online betting, you can do it while in the house taking breakfast, or during your break in the office, or while on the cab or subway heading to work or heading home. You don’t have to disrupt your schedule in any way in order to engage in online sports betting and this saves you so much time. But choose the right bookmaker. The best betting sites you will find here. Our advise: Take betbright. Why? The answer u can find in this betbright review.

#2 Betting online saves energy

Many people never really think about the energy they spend when making trips to their favorite bookie. It’s a lot of energy for your information, especially keeping in mind that your bookie is obviously not your next door neighbor. You probably have to take a cab, a train ride or a very long walk to get to him/her. This consumes so much of your energy, energy that would have been directed to other important activities. Online betting has been a godsend. The only energy you use is your brain going through the tons of statistics available and your fingers when placing the bets. Easy huh!

# 3 Betting online saves money

When you aggregate the time and energy you save while engaging in online sports betting, you will realize that ultimately, you save money as well. The numerous trips to the bookie cost money. However, placing your bets with just a few key strokes, without having to leave the comfort of your home or office, and not having to spend a dime to do it apart from the money you use to stake, is a true money saver.

Incorporating technology in business is meant to benefit your customers through bringing convenience, saving them time and money. Online sports betting is a perfect illustration of how technology can be used to grow a business by addressing customer needs and by doing so, turning a good profit.

We invite you to share with us your experiences and success stories in your business adventure.

info3 - These are the benefits of betting online

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