Why is tipping more popular than trading?
Go to tipping or betting forums and there are tens of thousands of people hanging on the word of the a tip. Yet everybody knows tipping is a road to nowhere. Trading gives you a much better chance of making money but doesn't seem to be anywhere near as popular. Are people just lazy?
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JollyGreen
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In a word YESExacta wrote:Go to tipping or betting forums and there are tens of thousands of people hanging on the word of the a tip. Yet everybody knows tipping is a road to nowhere. Trading gives you a much better chance of making money but doesn't seem to be anywhere near as popular. Are people just lazy?
We live in an instant gratification society and people want to do the least amount of work for the highest return they can get.
People would rather get a tip for a horse and chance their arm rather than learn how to do something. If the tip wins they will lavish the provider with praise and continue to do so until they start to lose money. When that happens they will blame the tipster, question his parentage etc. Then they will move onto the next tipster and start the process all over again.
The people you described in the forums are basically lazy and unable to accept responsibility for anything. If it fails they can blame someone else and trust me they are always very quick to blame someone else. If they did the work themselves then they have to accept the responsibility which as I have said is a definite no-no!!
There are often big market moves on tipped horses with the bookies often very slow to react. I've backed many horses at twice the price available on Betfair allowing you to then trade in a guaranteed win position.
These horses then often drift right out allowing another bite of the cherry.
The bookies will usually ban/restrict you in the end but it is fun while it lasts.
These horses then often drift right out allowing another bite of the cherry.
The bookies will usually ban/restrict you in the end but it is fun while it lasts.
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Merry Terry
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Think about it, promises of cash for no effort for placing a bet, or work hard at trading and looking for value and making it pay.
Punters just cant be arsed to do some work and without that effort it just wont pay long term.
Punters just cant be arsed to do some work and without that effort it just wont pay long term.
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CaerMyrddin
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I've read a very interesting article on my vacation about both this state of mind and it's consequences. "Easy comes, easy goes"We live in an instant gratification society and people want to do the least amount of work for the highest return they can get.
I would add that this is also somewhat related to the hurdle mentality that we all come wired with. It's easier to be in the hurdle.
That's a great question. I bet his answer was yes. Most successful gambling surely starts with a good appreciation of probability, which is exactly the same with the insurance industry.
The problem comes though, when you consider scale. With gambling and trading you can easily control your stakes to take advantage of any situation where our assessment of the probabilities suggest there is "good value" to be had.
In normal life you can't manage stake. For instance,I wouldn't bother take up insurance on my £40 i-pod shuffle, even if the insurance was "good value". However, I wouldn't travel to the USA without travel/medical insurance, even if it was "bad value"?
Sometimes the stakes are just too high.
What did the great man say Peter? He may be a multi-millionaire but I bet he's gutted he can't use Bet Angel to trade the dogs tonight.
The problem comes though, when you consider scale. With gambling and trading you can easily control your stakes to take advantage of any situation where our assessment of the probabilities suggest there is "good value" to be had.
In normal life you can't manage stake. For instance,I wouldn't bother take up insurance on my £40 i-pod shuffle, even if the insurance was "good value". However, I wouldn't travel to the USA without travel/medical insurance, even if it was "bad value"?
Sometimes the stakes are just too high.
What did the great man say Peter? He may be a multi-millionaire but I bet he's gutted he can't use Bet Angel to trade the dogs tonight.
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JollyGreen
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- Joined: Sat Mar 21, 2009 10:06 am
I bet he's more gutted that he cannot trade all of the US nags in running!!Morph wrote:
What did the great man say Peter? He may be a multi-millionaire but I bet he's gutted he can't use Bet Angel to trade the dogs tonight.
