The Importance of Goal Setting in Sports Betting

The Importance of Goal Setting in Sports Betting

As with many other aspects of life, setting goals can be an important task for anyone involved in sports betting. The majority of sports bettors who have had success will probably tell you that they set goals in one form or another. First of all, it is very difficult to succeed with no goal in sight, and it is near impossible to measure your success in an effective manner. Secondly, these goals that have been set can act as a motivator for bettors to achieve more. Successful seasoned bettors may not set goals in a formal manner, but they all have an idea of where they are currently, and where they would like to be. If you are also looking for methods to become a successful bettor, then setting realistic goals and targets can be a great driving force for your success.

Write your goals down

In the opening paragraph, we did mention that some bettors set goals in a non-formal manner. However, for bettors who are still finding their way around the betting scene, it is crucial to write down the specific sports betting goals. Without writing the goals down, it is increasingly difficult to look at them again, especially when several goals have been set. Therefore, it is much more effective to write all the goals down, and place them in a place where they cannot be ignored or lost.

Revisit your goals often

Continuing on from the previous point, there is no point in writing your goals down if you avoid revisiting these goals. Revisiting your goals every month or so will help you focus on the task at hand, and allow room to make adjustments if necessary. For instance, if your set goal has already been achieved, you may want to exceed that goal to a certain extent, or even set a new goal which is more ambitious. On the other hand, if you find that you are further away from reaching your betting goal than when you initially started, you may be able to see where you went wrong and be able to remedy the root of the problems

Set meaningful and specific goals

Specific betting goals which hold meaning to you can act as an effective motivator. Conversely, if the goal lacks any real meaning or specific direction, then it most likely won’t drive you forward. You will not be able to measure what the goal actually means, and therefore you will not be able to tell whether you are getting to your goal or not. So, when setting goals, set them to be concrete and well defined. The more clear these goals are to you, the more likely that you will be able to achieve them.  

Compare your current goals to previous goals

In a sense, goals are comparable to a map as you have your starting point, and a destination. However, you cannot track your route if you have no idea where you started from. In the betting sense, this means that you need to look backwards to find where you were in the past. How much profit were you making on each bet previously? How many wagers were you placing each month last year? What percentage of your bets were winning? These are all questions that add value to your future goal setting, and it gives you a complete and honest picture of your position. Ultimately, this will help you set better goals for the future.   

Set ambitious but achievable goals

Ambitious goals force a bettor into working hard to achieve these goals. For instance, let’s say you made $5,000 profit from your betting endeavours last year. An ambitious but achievable goal may be to profit $10,000 this year. Conversely, if you were to say you wanted to profit $1 million, then it would be unreasonable, and in fact, force you into straying away from your set betting methods to more unconventional and risky strategies. Therefore, try to set goals which will drive you forward to a target which seems just a touch out of reach to maximise your performance.

Break your bigger goals down into smaller chunks

Let’s say you set yourself the goal of making 500 bets in a calendar year. At first glance, this may seem like an intimidating number to commit to, and it may overwhelm you to the point that you get discouraged and give up on that goal altogether. However, when you break this seemingly difficult goal down into a smaller chunk, you can make it much easier to approach this goal. For instance, 500 bets a year, is actually less than 10 bets per week. That averages to only slightly more than a bet per day. By going through the process of breaking your goals down, seemingly out of touch goals, can become much more of a friendlier target.

Be accountable for the goals you set

If the goals you set are kept entirely to yourself, it is easy to ignore them and give up if things get tough. However, if you involved others, then it is much harder to just let them go. By simply telling your family, friends, or even better you betting buddies about your goals, you will be more likely to stick to your goals with their help.

Don’t think about outcomes, focus on the process

As cliché, as it may sound, focusing on the process, will give you a much better chance of success. An example of an outcome-driven goal would be to make a profit of $10,000 in a year. If you look at the processes involved to reach this outcome, it may be that it would involve 200 good, well thought out bets. This goal is now more process driven, and it seems like a goal which is more in your control. Ultimately, this makes the goal much easier to reach, and more likely to motivate you.

See whether if you have already set yourself some goals. If you have, then it may be good to see where you are in terms of goal attainment. If you have yet to set yourself some goals, it is never too late to start. Just start with writing some basic goals down, and gradually shape them into more specific and attainable goals as outlined by this post.

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