A ton of would-be millionaires get sucked into day trading stocks (or currencies, or ICO’s, whatever is in vogue on Wall Street) through one very simple mechanism…paper trading. MMA gambling has a similar cousin that we will call “Paper Predictions”.
You’ve probably seen these on the internet as competitions to pick bout winners. Some even function as fun little games, like MMAPlayGround.
However, every would-be gambler needs to recognize that putting real money down on a fight can drastically change how you pick fights. Looking over the top winners on Paper Prediction Games, you’ll notice that guys tend to get extremely risky with their fake bets. This is easy to do, after all, it is just a game.
That all changes the moment a person has actual money on the line, especially a decent sized sum. Good pickers suddenly become worrisome, timid, and most of all…self-doubting. They may also start over-analyzing the fight, which can be detrimental to a handicapper. It happens to just about everyone.
Before anyone gets into MMA gambling (or gambling in general), we suggest people practice with something like Paper Predictions, just with actual money on the line. The key is to not use a large sum a money, but enough to keep you focused. You may want to start your MMA gambling with a $10,000 bankroll, but it would be much better to start with a small $200 bankroll. After all, wouldn’t it be better to make a stupid bet with $20 than $200 or $2,000?
Get, at the minimum, 10 events under your belt with a small bankroll. In addition, do a complete breakdown/analysis of the fights. You may only be making a $1 bet, but it is the experience that is invaluable and a good safeguard once larger sums of money come into play. It will keep you honest the farther you go on this wagering journey.
It’s all about lowing the cost of your education. You can make your inevitable mistakes very costly, or around the price of a cheeseburger. Just don’t get caught in the Paper Predictions game. Real money changes everything, don’t ever forget that.