Focusing on the Process of Skill Based Gambling Instead of the Results

It’s human nature to want instant gratification. Whether you invest in a stock or make a sports bet, you hope for good results right away.

Gambling is the same way in that we want to win money during the current session. Nobody enters the casino under the mindset that they hope to win profits at some point within the next five visits.

Instead, everybody starts gambling to try and win immediately.But while it’s perfectly common to think this way, focusing on results actually holds you back from being a better gambler.

This is especially the case with skill-based casino games like blackjack, daily fantasy sports (DFS), poker, and sports betting, where immediate results aren’t always indicative of skill.

This is why I suggest that you focus on ‘the process’ over results. But what exactly does this mean and how can I help you be more successful?

Find out as I discuss the process, how it compares to a results-oriented approach, successful people who focus on the process, and how it all relates to skill-based gambling.

What Is the Process?

Every complex task involves a process. These tasks can be something as simple as doing laundry or a more-involved activity like doing your taxes for the year.

Within each task lies different steps that must be completed in order to produce a desired result. If you want your clothes to turn out clean and fresh, then you must use the right settings on your washer and add detergent and fabric softener.

If you want to get your taxes done in the quickest amount of time, then you should have a system for how to do this in the most-efficient manner possible.

Doing your taxes and laundry usually produces consistent results if you carry out the process correctly. But gambling is a less-certain activity, meaning your results can vary wildly from one session to the next.

This is especially the case with slot machines, which offer big prizes but also pay less frequently. You may win 2,000 coins one session, and then lose money for 15 straight casino visits.

Every casino game has a process, and most have strategy to some degree. Even slot machines, which are considered completely random, allow you to improve results by choosing games with high payback.

But I’m choosing to focus on skill-based gaming in this discussion. The reason why is because skill-based gambling requires a more in-depth process than playing luck-based games like slots, keno, and the lottery.

How you carry out this process will go a long way to determining how much you win—regardless of what the short-term results indicate.

How Does the Process Differ from Results?

Focusing on the results of an activity means that you measure success based on the outcome. It only makes sense to worry about results when considering this is the reason why people do anything in the first place.

I don’t buy ingredients and make a meal because I love the process of making food. Instead, I worry about how the meal will taste when it’s ready.

Focusing on outcomes is prevalent in a variety of disciplines.

As mentioned earlier, people want immediate gratification. And this comes from experiencing quick success.

But longevity comes with using a consistent method that produces good results. Any poker player can experience beginner’s luck, but not everybody can make a living through the game for 10 years.

Everybody knows what they must do to experience more success. But oftentimes, people are blindsided by how they do in a single session.

This tendency often leaves one turning up efforts after a bad run or scaling back when experiencing good results.

Think of a football team that has won its last five games by an average of 20+ points. While this team is far more talented than their opponents, they may unintentionally relax based on their success.

Now think of a team that’s used to success, but has lost its last two games by a combined 50 points. This team will be hungry for a victory and really focusing on what they must do to be successful in the upcoming game.

Of course, the best teams in sports, business, or any other discipline are masters of giving a consistent effort regardless of the last result. It’s these teams that are constantly prepared for the next challenge, because they’re not stuck on past outcomes.

Famous People Who Use the Process to Experience Success

Most people who become successful do so because they care deeply about the process. Therefore, it’s hard to only pick out a few individuals who’ve excelled due to their methodology.

But some famous people stand out above others when it comes to using the process.

Billionaire investor Warren Buffett immediately comes to mind, because he’s built his $83 billion net worth through a fundamental approach.

Buffett focuses on companies and industries he knows. The 87-year-old is also famous for investing in American companies.

You won’t catch Buffett spending weeks obsessing over the next Google or trying to find the hottest cryptocurrencies. Instead, he likes investing in S&P 500 companies that have growth potential.

Buffett’s approach to successful investing is more involved than what’s portrayed in the media. But these are the fundamentals behind how he consistently picks winners.

While Buffett has publicly admitted that he missed out on some of the big tech stocks during the consumer internet boom, he still hasn’t changed his process of sticking with companies that he knows.

Amazon CEO Jeff Bezos is another person who’s used a methodology to rise to success. Bezos is worth more than any other person in the world at $130 billion, and Amazon has taken over the eCommerce sector.

Bezos’ process began when setting a long-term goal all the way back in 1994.

While working a regular job on Wall Street, he noticed that internet usage had increased by 2300%.It’s at this point that he came up with a goal to produce an online “everything store.”

Of course, you don’t create a website overnight that sells countless items and produces over $100 billion per year. Instead, Bezos started Amazon as an online book retailer and worked on taking over this space first.

Along the way, he developed the core philosophy for Amazon that still stands today. He’s not into frequent meetings, he keeps teams small enough to where they can “share two pizzas,” and the company treats every day like they’re a hungry startup.

The process extends beyond just the business world and into other competitive activities. This includes sports, where top athletes focus on what they must do each day rather than the score of last night’s game.

LeBron James consistently talked about the process leading up to the Cleveland Cavaliers’2016 NBA championship. LeBron wanted his teammates to understand the importance of focusing on details rather than the scoreboard.

James has used the process throughout his entire career. He routinely does extra things to keep his body intact for the long NBA season, including cryotherapy and grueling workouts.

Another sports example of the process includes the Philadelphia 76ers. Under the guidance of general manager Sam Hinkie, the team used a controversy all method of putting out subpar teams while accumulating high draft picks (a.k.a. tanking).

The league moaned and groaned as Philadelphia experienced six losing seasons in a row, where they lacked any sense of competitiveness. But Hinkie preached all along that fans should “trust the process.”

Hinkieeventuallyresigned from his position after a 1-21 start to the 2015-16 season. But the draft results have later produced one of the league’s best teams, and a young core that includes Ben Simmons, Joel Embiid, Markelle Fultz, and Dario Saric.

How Focusing on Results Applies to Skill Based Gambling

I’ve covered the differences between being outcome versus process focused. My consensus is that you stand a far greater chance of success when you pay attention to methods over results.

But some players focus on results without even realizing it in skill-based games. The best example is somebody who overprioritizes short-term success.

Here’s an example using an amateur poker player:

• The player judges their success based on how much they’ve won or lost in the past session.
• They fail to improve their skills by learning strategy.
• They instead believe that simply playing the game more is enough.
• The player chalks up winning sessions to their skills and losing sessions to bad luck.
• They don’t keep track of results, meaning they had no idea on their true long-term success.

This type of player is common in many skill-based games, whether it be DFS, sports betting, or blackjack. And they don’t realize that putting so much emphasis on winning in the short run is impacting them in a negative way.

Another problem that these gamblers have is attributing bad outcomes to trends. They often believe that just because they’re having a bad streak, their luck will improve and they’ll start winning eventually.

You should never attach so much value to luck in skill-based gambling. Instead, pay attention to your skills and how you’re playing.

This is hard to do in something like sports betting, especially when you’ve put time into researching games and making good picks, only to continue losing. When this happens, many bettors make the mistake of branching out into sports they don’t know in order to chase losses.

Ideally, you’ll only focus on the process you’re using and realize that bad luck happens. On the same token, you don’t want to overvalue winning streaks and believe that you’ve conquered sports betting or another form of gambling.

Focusing on the Process Applies to Skill Based Gambling

Concentrating on the process is about working on the small details that’ll help you succeed. Meanwhile, you must have a good understanding of how insignificant short-term results are.

Some of the greatest skill-based gamblers have runs where they can’t buy a win. This is due to the luck factor, which affects everybody at some point.

But you won’t have to worry about this in the long run if you do the right things, including studying strategy, learning from your mistakes, and using proper bankroll management.

Strategy is crucial to gaining an edge over your opponents. If you don’t have good skills in the first place, then you’re playing a negative expectation game.

How you study strategy varies by the game. A poker player can watch training videos, check out pros on Twitch streams, and read books and articles.

A sports bettor can read articles, listen to professional handicappers, do their own handicapping, and use software to look for trends.

Blackjack players will take different approaches based on whether they’re using basic strategy or card counting. Basic strategy players can get better by using online trainers or strategy charts.

An online trainer is a free program that points out mistakes while you play the game. A blackjack strategy chart shows whether you should hit, stand, split, or double down based on the situation.

Card counters must put more work into learning various aspects of beating the casino. This includes learning a counting system, how to spread bets, bankroll management, and not attracting the pit boss’ attention.

The process is especially important in card counting, because most counters only have a 0.5% or 1% edge over the house. Therefore, they’ll experience plenty of losing sessions along the way.

It would be a huge mistake to prioritize results in this case. Instead, you should focus your attention on what will make you a better counter.

One overlooked part of the process is learning from your mistakes and not repeating them.

Poker players commonly review their sessions for this very reason. They look at how they played a trouble hand/situation and think about how to do it better next time.

Of course, any skill-based gambler can benefit by reviewing their play from time to time. Here are examples:

• A DFS player can consider if there’s a way to make better lineups.
• A card counter can figure out why they were detected and kicked out of the casino.
• A sports bettor can look at why they keep losing point spread bets by wide margins.

One more crucial part of the process is bankroll management. It’s important to separate your gambling funds from necessary finances.

Beyond this, bankroll management helps you spread risk over the long run. This is key to surviving losing streaks until luck is back on your side.

Here’s an example of how a DFS player could manage their bankroll:

• They have $5,000.
• They want 100 units.
• 5,000 / 100 = $50 per unit

The DFS player in this example never enters contests that cost more than one unit.

This is a conservative bankroll management style that will leave you with fewer profits in the short run. But the reason for only playing games with one unit is that you want to avoid taking on too much short-term risk.

Only putting 1% of your bankroll into each DFS contest is the perfect way to do this and make your bankroll losing streak proof.

Card counters, poker players, and sports bettors should take a similar approach to managing their funds. You should only make bets or play at stakes where you can afford to risk small amounts.

If you’re forced to place bets where you risk 5% or more of your bankroll each time, then you’re taking on significant risk. And one or two losing streaks could deplete your entire bankroll.

The process isn’t just a simple one-step method to becoming a better gambler. Instead, you need to work on a multitude of factors that’ll give you an edge over opponents or the casino.

This means putting enough time into strategy, reviewing your play, and properly managing your bankroll.

Conclusion

Advantage gamblers should take note on how Jeff Bezos, Warren Buffett, LeBron James, and other successful people focus on the process. This is the key to continually improving your skills and winning the kind and profits you dream of.

The only problem is that we’re more attracted to results than what must be done. Nobody wants to do the same thing every day without experiencing any short-term gratification.

But overcoming this line of thinking is a challenge that you must accept. You’ll only reach your goals when you do everything necessary to improve.

Maybe you’re perfectly fine with your career and only want to supplement your income with advantage gambling. Or perhaps you’re like many gamblers and have grand visions of winning a major DFS tournament or becoming a high stakes poker guru.

Whenever the case may be, you must focus on what makes you better instead of how much money you made or lost last week.

The latter is counterproductive to becoming a better advantage gambler. On the other hand, practice and focusing on the process are crucial to long-term success.

Ignoring the tendency to worry about results is a battle. And you’ll have times where you fall back into the pattern of worrying about how much money you win in the short term.

Tilt is the ugliest product of focusing on results because you’re using poor strategy simply due to bad short-term luck.

Nevertheless, you must overcome tilt and other emotional responses to short-term results. And putting all of your attention on the process is the best way to make this happen.

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