The Kelly Criterion is a popular formula used to determine the optimal size of a bet in order to maximize the growth rate of a bankroll over time. In sports betting, it can be used to calculate the ideal unit size for each bet, depending on the probability of winning and the payout of the bet.The basic idea behind the Kelly Criterion is to bet a proportion of your bankroll that is proportional to your edge over the odds. The formula is typically presented as: f* = (bp - q) / b, where f* is the fraction of the bankroll to bet, b is the net odds received on the bet, p is the probability of winning, and q is the probability of losing.For example, let's say you have a bankroll of $1000 and you come across a bet with odds of +150 (meaning a $100 bet would return $150 if you win) and a 60% chance of winning. Using the Kelly Criterion formula, the optimal unit size for this bet would be 0.2 (or 20% of your bankroll). This means that you would bet $200 on this game.It's important to note that the Kelly Criterion formula assumes that the bettor has an edge over the odds, which is not always the case in sports betting. It also assumes that the bettor has a large enough bankroll to withstand the volatility that comes with betting a large percentage of their bankroll on a single game.For those who are new to sports betting, it's recommended to use a smaller percentage of your bankroll for each bet until you have a better understanding of the sport and the teams you are betting on. This will help to minimize potential losses and help you to build your bankroll over time.In addition, it's important to remember that the Kelly Criterion is a guide and not a guarantee of success. It's always important to have discipline and not to chase losses. It's also important to use the Kelly Criterion in combination with other strategies and techniques when making betting decisions.In conclusion, the Kelly Criterion is a useful tool for determining the optimal unit size for sports betting. It takes into account the probability of winning and the payout of the bet, and can help to maximize the growth rate of a bankroll over time. However, it's important to remember that it's only one of many tools that should be used when making betting decisions, and to always have discipline and not chase losses.

Kelly Criterion

Unit size discipline is the key to becoming a successful sports bettor

The Kelly Criterion is a useful formula for determining the optimal unit size for sports betting. It takes into account the probability of winning and the payout of the bet, and can help to maximize the growth rate of a bankroll over time. However, it's important to remember that it's only one of many tools that should be used when making betting decisions, and to always have discipline and not chase losses.

Using The Kelly Criterion To Determine Unit Size For Sports Bets

The halo effect is a psychological phenomenon that occurs when a person's overall impression of an individual or concept influences their judgment of that individual or concept's specific traits. In sports betting, the halo effect can significantly impact how bettors perceive and analyze the chances of a particular team or player winning a game or competition.One example of the halo effect in sports betting is when a team or player is perceived as being particularly skilled or successful, bettors may overestimate their chances of winning in future games or competitions. This can lead to bettors placing disproportionately large bets on this team or player, even if the odds of them winning may not necessarily justify such a bet.Conversely, the halo effect can also work in the opposite direction, with bettors underestimating the chances of a team or player being perceived as less skilled or successful. This can lead to bettors placing disproportionately low bets on this team or player, even if their chances of winning may be higher than expected.The halo effect can also be influenced by external factors such as media coverage and public perception. For example, a team or player that receives positive media attention may be perceived as more likely to win. In contrast, a team or player that receives negative media attention may be perceived as less likely to win.To avoid the influence of the halo effect in sports betting, bettors need to analyze the specific factors that can impact a team or player's chances of winning rather than relying solely on overall perceptions or external factors. This includes evaluating the team or player's current form, the strength of their opposition, and any injuries or other factors that may impact their performance.By considering these factors, bettors can make more informed and unbiased decisions when placing bets rather than letting the halo effect cloud their judgment.The halo effect can lead us to overestimate the chances of a team or athlete based on their past performance or other positive qualities rather than objectively evaluating their current form. Here are a few tips to help you avoid the halo effect when making sports bets:<ol><li>Focus on objective data: Rather than relying on subjective impressions of a team or athlete, try to base your bets on objective data and statistics. This can include a team's win-loss record, their scoring margin, the strength of their defense or offense, and the performance of individual players.</li><li>Don't let your biases influence your bets: It's natural to have favorite teams or athletes, but try not to let these biases cloud your judgment when making bets. It's important to be objective and consider all the relevant information rather than just rooting for your favorite team to win.</li><li>Consider the context of the game: Don't just look at a team's overall record or the performance of individual players. Consider the specific context of the game you are betting on, including factors like the game's location, the weather, and any injuries or other factors that might affect the outcome.</li><li>Don't get caught up in media hype: The media often focuses on certain teams or athletes, which can create a distorted view of their chances of success. Try to tune out the noise and focus on your own analysis of the game.</li></ol>Following these tips can help avoid the halo effect and make more informed sports bets.

What is the Halo Effect and How Does it Pertain To Sports Betting?

The Martingale system is a betting strategy popularized in gambling circles, particularly sports betting. It is based on the idea of doubling one's bet after each loss, hoping to win back the original stake and make a profit eventually. While the Martingale system may seem like a surefire way to win at sports betting, it is a high-risk strategy that is not recommended for anyone looking to make a long-term profit.Let's look at an example to understand how the Martingale system works. Suppose you are betting on a football game, and you place a bet of $100 on the home team to win. If the home team loses, you would double your bet to $200 on the next game. If you lose again, you would double your bet once more to $400. This pattern would continue until you eventually win a bet, at which point you could recoup your losses and make a profit.At first glance, the Martingale system may seem like a foolproof way to win at sports betting. After all, if you keep doubling your bet, you will win eventually, right? However, there are several problems with this approach.First and foremost, the Martingale system relies on an infinite bankroll. In other words, you need to have an unlimited amount of money to keep doubling your bets indefinitely. In the real world, this is not possible. Most sports bettors have a limited amount of money to work with, and if they keep losing and doubling their bets, they will eventually run out of money.Another problem with the Martingale system is that it relies on the idea of &quot;gambler's fallacy.&quot; This is the belief that if something has happened a certain number of times in a row, it is less likely to happen again in the future. In sports betting, this means that if you have lost several bets in a row, you are more likely to win the next one. However, this is not how probability works. Each bet is an independent event, and the outcome of one bet has no bearing on the outcome of the next.Finally, the Martingale system is risky because it requires you to bet large amounts of money to win back smaller amounts. This is a dangerous proposition, as it can lead to excessive risk-taking and potentially ruinous losses.In conclusion, the Martingale system is a high-risk betting strategy that is not recommended for anyone looking to make a long-term profit in sports betting. While it may seem like a surefire way to win, it relies on an infinite bankroll, gambler's fallacy, and excessive risk-taking, all of which can ultimately lead to financial ruin. It is always important to remember that sports betting is a form of entertainment and should be approached with caution and careful consideration.

The Martingale System In Sports Betting

The Kelly criterion is a mathematical formula used to determine the optimal size of a bet or investment in a situation where the potential for gain and loss is known. It is based on the idea of maximizing the long-term growth rate of an investment portfolio(bankroll), while also taking into account the potential risk of ruin.The Kelly criterion can be expressed as follows:Fraction of bankroll to bet = W &ndash; [(1 &ndash; W) / RWhere:<ul><li>Fraction of bankroll to bet is the percentage of the bankroll that should be placed on a given bet.</li><li>W is the probability of winning the bet.</li><li>R is the expected return on the bet, expressed as a multiple of the original stake.</li></ul>The Kelly criterion can be used in various situations, such as stock investing, sports betting, and gambling. It is based on the assumption that the investor or gambler has a reliable estimate of the probability of winning and the expected return on the bet or investment. It is important to note that the Kelly criterion is a theoretical model and may not always produce optimal results in practice due to the limitations of real-world data and the complexity of financial markets.Here is an example of using the Kelly criterion to determine the optimal size of a sports bet:Suppose you are considering making a bet on a soccer match, and you believe that the probability of your team winning is 60%. The sportsbook offers odds of +200, which means that if you win the bet, you will receive a return of 2 times your original stake.To use the Kelly criterion, we can plug these values into the formula like this:Fraction of bankroll to bet = 0.6 &ndash; [(1 &ndash; 0.6) / 2] = 0.2According to the Kelly criterion, you should bet 20% of your bankroll on this game. So if you have a bankroll of $1,000, you should place a bet of $200 on your team to maximize your long-term growth potential.<h5>The Dangers</h5>One of the main dangers of using the Kelly criterion is that it assumes that the bettor has a precise and accurate estimate of the probability of winning a particular bet. In reality, however, it is often difficult to estimate the probability of a sports event with any degree of accuracy. This can lead to overconfidence in one's predictions, leading to excessive betting and potentially significant losses.Another danger of the Kelly criterion is that it assumes that the bettor has an unlimited bankroll and that their betting strategy can be adjusted based on the size of their bankroll. In practice, however, most sports bettors have limited funds, and betting too aggressively can lead to financial ruin.Finally, the Kelly criterion does not account for the psychological factors influencing betting behavior, such as the desire to recoup losses or the temptation to chase after wins. These factors can lead to irrational betting decisions, which can undermine the effectiveness of the Kelly criterion and result in even larger losses.In conclusion, while the Kelly criterion can be a useful tool for sports bettors, it is important to use it with caution and consider the formula's limitations. Betting too aggressively can lead to significant losses, and it is essential always to maintain discipline and to bet within one's means.

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What is The Kelly Criterion?

Expected Value in sports betting is one of the most important concepts when trying to make a profit. Understanding the expected value when analyzing potential bets will guide you in making sharper bets over time. In this video the expected value is explained as well as calculated for you. Understand how you should be using EV to determine which bets you should be making.

Intermediate Level

What is Expected Value - Intermediate Level Lesson 1

Flat betting and variable bet sizing can both be profitable in sports betting. Variable sports bets can be riskier and require a bit more sophistication. In this video learn how to develop a variable bet sizing strategy that fits you.Join us in our free <a href="https://discord.gg/DBXUfS9JWq" title="">Discord Chat</a> to learn more about bet sizing and all things sports betting

Flat vs Variable Bet Sizing - Intermediate Level Lesson 2

There are occasions where a sports bettor can wager on both sides of a game and guarantee themselves a profit over time. These situations are called middling. The sports bettor has a good enough price on the underdog and the favorite in which they can place bets on both and over the long haul guarantee themselves a profit. These situations are rare but in this video, you can see how you need to calculate them to find out which are profitable.<a href="https://discord.gg/DBXUfS9JWq" title="">Join this discussion in discord with the guys at Sports Bet Army</a>

What is Middling? - Intermediate Level Lesson 3

Hedging your bets is a popular term but should you be doing it when betting on sports? We take a look at this question a bit deeper in this lesson in our Sharp Academy - Sports Betting Explained series.1 - Know why you are making the original bet2 - Use a proper bet size3 - What is the psychology behind wanting to hedge?4 - How do we calculate whether or not a hedge bet is worth playing5 - What about situations we can catch a middle?6 - How do you figure out if a payout offered by the sportsbook is worth taking?

Intermediate

To Hedge Or Not To Hedge? - Intermediate Level Lesson 4

Winning at sports betting is tough enough without having to pay more than you should be to the sportsbooks. Figuring out how much the sportsbooks are keeping in &quot;hold&quot; is a good way to determine which sportsbooks are giving the best prices on a futures bet.We will look at hold and how you can determine a fair line. Also, find out how advantageous it is to have multiple sportsbooks.<a href="https://youtu.be/LgXqZLpy_hI" title="">Want To See How We Calculate EV?</a><a href="https://discord.gg/DBXUfS9JWq" title="">Join our free discord to learn more about sports betting and get some free picks</a>

What Is Hold? - Intermediate Level Lesson 5

When betting on sports, there are more factors to think about than just who you think is the best team. Most people look past the future value of their money when betting on futures. In this lesson from the Sharp Academy John &quot;Statsational&quot; Alesia will discuss how to calculate the future value of money and how that needs to be added into your expected value calculations.<a href="https://youtu.be/LgXqZLpy_hI" title="">Expected Value Video</a><a href="https://discord.gg/DBXUfS9JWq" title="">Join our Discord For Free</a>

How To Use Future Value Of Money In Your Handicapping | Intermediate Level Lesson 6

I&rsquo;ve often heard from friends and family that I have the right personality to take on risk. Obviously their perception was based on what they can see from me externally. I always felt like I trained myself to not get too high and not get too low because those swings are in my mind what will drive you crazy.As humans, we are programmed to view losses at a much higher scale than we do gains. I believe the reason for this is evolutionary. Throughout our history, our forefathers struggled just to put food on the table. Whether hunter-gatherers or agriculturalists, life was not easy for almost all humans until recent times. With that in mind, it would make sense that losing resources would be more painful than acquiring them.But I wondered what type of personality would make the best gambler and perhaps different personalities may lend themselves to different types of gambling. Some of you may be familiar with the Myers-Briggs personality test.The below is taken from WikipediaThe test is scored by evaluating each answer in terms of what it reveals about the taker. Each question is relevant to one of the following cognitive learning styles. Each is not a polar opposite, but a gradual continuum.Extraversion/IntroversionThe extraverted types learn best by talking and interacting with others. By interacting with the physical world, extraverts can process and make sense of new information. The introverted types prefer quiet reflection and privacy. Information processing occurs for introverts as they explore ideas and concepts internally.Sensing/IntuitionThe second continuum reflects what people focus their attention on. Sensing types are good at concrete and tangible things. Intuitive types are good at abstract things and ideas. Sensing types might enjoy a learning environment in which the material is presented in a detailed and sequential manner. Sensing types often attend to what is occurring in the present, and can move to the abstract after they have established a concrete experience. Intuitive types might prefer a learning atmosphere in which an emphasis is placed on meaning and associations. Insight is valued higher than careful observation, and pattern recognition occurs naturally for intuitive types.Thinking/FeelingThe third continuum reflects a person&rsquo;s decision preferences. Thinking types desire objective truth and logical principles and are natural at deductive reasoning. Feeling types place an emphasis on issues and causes that can be personalized while they consider other people&rsquo;s motives.Judging/PerceivingThe fourth continuum reflects how a person regards complexity. Judging types tend to have a structured way or theory to approach the world. Perceiving types tend to be unstructured and keep options open. Judging types will always try to make accommodation between new information and their structured world, which might only be changed with discretion. Perceiving types will be more willing to change without having a prior structured world.After taking the test&nbsp;<a href="http://www.humanmetrics.com/cgi-win/jtypes2.asp" title="">here</a>, I found out that I am an ENTP. Being an NT probably lends itself best to someone who has been in trading and professional gambling most of his adult life. Let&rsquo;s go over each of the 16 possible personality types. Take the test above to see where you fit.Type &ndash; Frequency in PopulationISFJ &ndash; 13.8%ESFJ &ndash; 12.3%ISTJ &ndash; 11.6%ISFP &ndash; 8.8%ESTJ &ndash; 8.7%ESFP &ndash; 8.5%ENFP &ndash; 8.1%ISTP &ndash; 5.4%INFP &ndash; 4.4%ESTP &ndash; 4.3%INTP &ndash; 3.3%ENTP &ndash; 3.2%ENFJ &ndash; 2.5%INTJ &ndash; 2.1%ENTJ &ndash; 1.8%INFJ &ndash; 1.5%<a href="https://www.truity.com/personality-type/ISFJ" title="">ISFJ</a>The ProtectorISFJs are industrious caretakers, loyal to traditions and organizations. They are practical, compassionate, and caring, and are motivated to provide for others and protect them from the perils of life.<a href="https://www.truity.com/personality-type/ESFJ" title="">ESFJ</a>The ProviderESFJs are conscientious helpers, sensitive to the needs of others and energetically dedicated to their responsibilities. They are highly attuned to their emotional environment and attentive to both the feelings of others and the perception others have of them.<a href="https://www.truity.com/personality-type/ISTJ" title="">ISTJ</a>The InspectorISTJs are responsible organizers, driven to create and enforce order within systems and institutions. They are neat and orderly, inside and out, and tend to have a procedure for everything they do.<a href="https://www.truity.com/personality-type/ISFP" title="">ISFP</a>The ComposerISFPs are gentle caretakers who live in the present moment and enjoy their surroundings with cheerful, low-key enthusiasm. They are flexible and spontaneous, and like to go with the flow to enjoy what life has to offer.<a href="https://www.truity.com/personality-type/ESTJ" title="">ESTJ</a>The SupervisorESTJs are hardworking traditionalists, eager to take charge in organizing projects and people. Orderly, rule-abiding, and conscientious, ESTJs like to get things done, and tend to go about projects in a systematic, methodical way.<a href="https://www.truity.com/personality-type/ESFP" title="">ESFP</a>The PerformerESFPs are vivacious entertainers who charm and engage those around them. They are spontaneous, energetic, and fun-loving, and take pleasure in the things around them: food, clothes, nature, animals, and especially people.<a href="https://www.truity.com/personality-type/ENFP" title="">ENFP</a>The ChampionENFPs are people-centered creators with a focus on possibilities and a contagious enthusiasm for new ideas, people and activities. Energetic, warm, and passionate, ENFPs love to help other people explore their creative potential.<a href="https://www.truity.com/personality-type/ISTP" title="">ISTP</a>The CraftspersonISTPs are observant artisans with an understanding of mechanics and an interest in troubleshooting. They approach their environments with a flexible logic, looking for practical solutions to the problems at hand.<a href="https://www.truity.com/personality-type/INFP" title="">INFP</a>The HealerINFPs are imaginative idealists, guided by their own core values and beliefs. To a Healer, possibilities are paramount; the reality of the moment is only of passing concern. They see potential for a better future, and pursue truth and meaning with their own flair.<a href="https://www.truity.com/personality-type/ESTP" title="">ESTP</a>The DynamoESTPs are energetic thrillseekers who are at their best when putting out fires, whether literal or metaphorical. They bring a sense of dynamic energy to their interactions with others and the world around them.<a href="https://www.truity.com/personality-type/INTP" title="">INTP</a>The ArchitectINTPs are philosophical innovators, fascinated by logical analysis, systems, and design. They are preoccupied with theory, and search for the universal law behind everything they see. They want to understand the unifying themes of life, in all their complexity.<a href="https://www.truity.com/personality-type/ENTP" title="">ENTP</a>The VisionaryENTPs are inspired innovators, motivated to find new solutions to intellectually challenging problems. They are curious and clever, and seek to comprehend the people, systems, and principles that surround them.<a href="https://www.truity.com/personality-type/ENFJ" title="">ENFJ</a>The TeacherENFJs are idealist organizers, driven to implement their vision of what is best for humanity. They often act as catalysts for human growth because of their ability to see potential in other people and their charisma in persuading others to their ideas.<a href="https://www.truity.com/personality-type/INTJ" title="">INTJ</a>The MastermindINTJs are analytical problem-solvers, eager to improve systems and processes with their innovative ideas. They have a talent for seeing possibilities for improvement, whether at work, at home, or in themselves.<a href="https://www.truity.com/personality-type/ENTJ" title="">ENTJ</a>The CommanderENTJs are strategic leaders, motivated to organize change. They are quick to see inefficiency and conceptualize new solutions, and enjoy developing long-range plans to accomplish their vision. They excel at logical reasoning and are usually articulate and quick-witted.<a href="https://www.truity.com/personality-type/INFJ" title="">INFJ</a>The CounselorINFJs are creative nurturers with a strong sense of personal integrity and a drive to help others realize their potential. Creative and dedicated, they have a talent for helping others with original solutions to their personal challenges.I have been researching a bit on personality types and gambling.&nbsp; One of the better articles I came across was by Kristen Moodie&nbsp;<a href="https://personalitygrowth.com/heres-how-you-feel-about-gambling-based-on-your-personality-type/" title="">here</a>INFJINFJs can often become annoyed with gambling, and dislike the letdown feeling when things don&rsquo;t go their way. INFJs prefer to focus on their intuition and the things they can predict clearly. They have such powerful intuitive abilities that they can often become accustomed to following paths that they can predict and understand easily. Gambling can leave the INFJs intuition feelings frustrated and a bit off, which is not a comfortable feeling for them.ENFJENFJs don&rsquo;t usually enjoy gambling because it can be a stressful way to fail at something. ENFJs would rather focus on things they can control and maintain properly using their intuitive abilities. They are the person their loved ones rely on and they dislike doing anything that can leave them feeling like a disappointment. Even smaller situations that involve gambling can annoy the ENFJ, since they prefer things they can be excellent at by using their skills, instead of just taking a chance with luck.INFPINFPs can sometimes enjoy gambling, since it can pull them outside of their comfort zone. They enjoy the excitement when they score or do well when they take a risk. INFPs might not enjoy gambling on higher levels, but in smaller ways it can be exciting for them. INFPs simply dislike when they are stagnant for too long and want to live a life that has some sort of challenges and progress. In big casinos and larger scale situations the INFP might be opposed to gambling, but just hanging out with their friends playing a game of cards can be enjoyable for them.ENFPENFPs do enjoy gambling in some situations, since it has a certain thrill that they enjoy. For the ENFP it is exciting to take risks and reap rewards from them. They really enjoy that feeling of adrenaline and the intensity of the experience. ENFPs might become frustrated with gambling long term, and might be more interested in gambling that yields lower risks. They do enjoy challenging themselves and finding new ways to experience the world around them. Gambling is just something ENFPs enjoy as a new experience and something to push themselves.INTJFor the INTJ gambling that rests only on luck is not often enjoyable or exciting. They will however enjoy gambling that involves skill and is something that can be learned. If the INTJ sees a challenge within gambling they might enjoy taking time to learn this skill so that they can excel at it. INTJs enjoy things that push them and help them grow and improve. For them gambling can certainly be something to learn and become skilled at, since they enjoy being good at just about everything.ENTJENTJs enjoy pushing themselves to improve, and might enjoy gambling that involves more than just luck. They might enjoy something that they can learn and become great at, and will also combine their intuition to make themselves even better at it. Gambling can certainly be exciting for the ENTJ, as long as it does not rest solely on luck. For the ENTJ tasks are more enjoyable when it is something they can do efficiently and maintain control of in some ways.INTPINTPs enjoy gambling where there are ways for them to logically figure it out. If it is simply a game of luck they might not enjoy it quite so much. INTPs want a puzzle that they can solve in order to challenge themselves. They like something that they can really learn to navigate in order to improve and become impressive. INTPs do enjoy the excitement of gambling since they despise being stagnant for too long. This offers them a new challenge and something to push themselves outside of their comfort zone.ENTPENTPs enjoy challenges and love anything that is new and exciting. They might enjoy gambling as a new experience that they can explore and dive into. Gambling can often be a fun hobby for the ENTP to take on and challenge themselves in new ways. They dislike remaining stagnant for too long and want things in their live to keep them feeling inspired. For ENTPs the thrill and adrenaline that comes from gambling can be really fun and enjoyable. ENTPs also enjoy certain gambling that possesses skill rather than just luck, and enjoy having something to figure out.ISTJISTJs might enjoy gambling if it is something they can learn to do well, and not just the type of gambling that rests purely on luck. They might enjoy playing cards with their friends and enjoy the time to silently think through their actions. ISTJs usually dislike gambling that is all about luck and find this type to be a bit wasteful and frustrating. ISTJs are not reckless people so they don&rsquo;t enjoy doing too much that isn&rsquo;t based on effort and efficiency.ESTJESTJs value efficiency and don&rsquo;t like taking risks that don&rsquo;t involve logic and reason. They do enjoy gambling when it is something that requires skill and not just luck alone. ESTJs might enjoy playing cards in a social setting and enjoy being able to share this with others. They don&rsquo;t mind gambling when it is something they learn to do efficiently and requires skills, rather than something that simply requires luck in order to win.ISFJISFJs rarely enjoy gambling and might find it to be a bit reckless. They have a lot of responsibility on their shoulders and don&rsquo;t usually enjoy things that can fail. ISFJs work hard to maintain harmony in their environment, and gambling can often feel a bit too intense for them. They are so focused on caring for their loved ones, that they dislike anything that could jeopardize their happiness. They dislike the negative emotions that can come from gambling, and would rather focus on something that requires skill and is a bit more practical.ESFJFor the ESFJ gambling can be a bit stressful, since they don&rsquo;t enjoy anything that feels reckless. ESFJs can see gambling as a way to lose money and end up feeling unhappy in the end. They prefer to focus on taking care of their loved ones and providing for their needs. ESFJs can be perfectionists oftentimes, and prefer to focus on things they can control and ensure that it gets done well. Gambling can leave the ESFJ feeling like a failure in some ways, so they rarely enjoy this side of it.ISTPISTPs often enjoy gambling since they like anything that is exciting and gives them a bit of a thrill. The risk involved in gambling can be something that excites the ISTP and leaves them feeling challenged. They can sometimes be adrenaline junkies, and seek out anything that pulls them outside of their comfort zone. For the ISTP gambling is something they can attempt to solve, but it is also an enjoyable and thrilling experience.ESTPESTPs often enjoy gambling since it feels exciting and pulls them outside of their comfort zone. They enjoy things that challenge them and leave them feeling like they have received a thrill. ESTPs can sometimes be adrenaline junkies, which is why gambling is often a hobby that they can enjoy. While ESTPs might take it hard when they lose, they often enjoy being able to learn from the experience and move forward.ISFPISFPs might enjoy gambling because of the thrill and excitement, but they often take losing rather hard. They might not enjoy gambling as something they do often, but like it in smaller doses. ISFPs don&rsquo;t like being stagnant so anything that challenges them is something they might enjoy. They want to try new things and aren&rsquo;t going to avoid gambling if it is a new hobby they can take on.ESFPESFPs enjoy anything that is thrilling and a bit intense, so gambling can be a fun hobby for them. For ESFPs it is fun to take on something new, and even something that feels like a bit of a risk. They want their lives to be filled with excitement and really hate feeling stagnant for too long. Gambling can really boost their adrenaline, which is something ESFP often enjoy.I talk often about being self-aware. Knowing what you are good at, what you are bad at, and what type of personality you have will help you in becoming more successful and happy in life. If you understand your personality type better you can use that information to make yourself a better gambler.Perhaps your personality is one that is looking for a thrill like an ISTP. Know that about yourself and understand why you may be betting. You may be the type that wants the action more than wants the win. Having that knowledge can help you become more disciplined by either lowering your unit sizes or trying to follow a more disciplined approach.&nbsp;For those with an NT type of personality you likely enjoy trying to figure out how to beat the games and the books. If you are like me, you will take something like a stat that you hear on TV or twitter and try and build a model around it. Figuring out the game and beating it is where the thrill is for you.I would be curious to see what kind of personality traits our readers are and how that stacks up to the general population.

Sharp Academy Intermediate Level Latest

Analysis & Media

Using The Kelly Criterion To Determine Unit Size For Sports Bets

Kevin "Geek" Alan • 10 months ago

Using The Kelly Criterion To Determine Unit Size For Sports Bets

Kevin "Geek" Alan • 10 months ago

What is the Halo Effect and How Does it Pertain To Sports Betting?

John Alesia • a year ago

The Martingale System In Sports Betting

John Alesia • a year ago

What is The Kelly Criterion?

John Alesia • a year ago

What is Expected Value - Intermediate Level Lesson 1

John Alesia • 2 years ago

Flat vs Variable Bet Sizing - Intermediate Level Lesson 2

John Alesia • 2 years ago

What is Middling? - Intermediate Level Lesson 3

John Alesia • 2 years ago

To Hedge Or Not To Hedge? - Intermediate Level Lesson 4

John Alesia • 2 years ago

What Is Hold? - Intermediate Level Lesson 5

John Alesia • 2 years ago

How To Use Future Value Of Money In Your Handicapping | Intermediate Level Lesson 6

John Alesia • 2 years ago

What Your Personality Says About The Type Of Gambler You Are

John Alesia • 3 years ago

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