Betting is a very frequent topic online and offline. People talk about it, practice it, enjoy it and abuse it. There are plenty of things you can do with regards to betting and reading about it is one of my favorite pastimes.
When you read about betting, you can learn more about human psychology, especially addictions, as well as some ingenious ways of using mathematics and science to beat the house and earn money.
Here are the books that helped me change my mind about betting and view it in an entirely different way.
The Betting Edge – David-Lee Priest
This is a book that helped me reshape my opinion on betting, in general. I first thought that placing a bet just requires you to fill a slip and circle some numbers or letters, and a love for your team or gambling. But as I dove in the deep waters of professional gambling, I learned that some people spend hours and years studying how to gamble, studying the teams and players to place the most efficient bet. A bet becomes so much more than a gamble if you do a lot of research. This book tells you that you need many skills if you want to be a professional bettor.
Fooled By Randomness – Nassim Nicholas Taleb
This book is not your standard book that has to do with betting, but rather, probability. This book does a lot to explain how we view the world in a certain way, and how luck is not actually luck. If you do not know a lot about probability, you shouldn’t need to worry, as the book is written in such a way that it will leave an impression, regardless.
The way it’s connected to betting is through probability, which is often mistaken for luck, especially in the world of betting, which works very similarly to the stock market.
The Intelligent Investor – Benjamin Graham
This old book, which was published in 1949, still leaves an impact on every reader who reads it today. It is a very detailed guide on how to make value investments, by developing strategies which will benefit you in the long term and preventing you from making mistakes along the way. It is definitely a book for business people and those who want to start investing.
Betting is a form of investment, where the outcomes can become more predictable if your strategies are sound and your knowledge of the competing parties substantial. This book can prepare you and teach you to manage your finances and develop a plan, rather than just bet randomly on everything which looks profitable.
Thinking, Fast and Slow – Daniel Kahneman
This book dives deep into human psychology and explains how we can think fast and act quickly, based on emotion and be much more logical and practical. Both have their benefits and both have their influence on the decisions we make, especially regarding financial management and thoughts about future happiness. This book can change the way you think about yourself, and help you look at betting much differently.
Interestingly enough, many of the books which inspired me the most had very little to do with betting but were so closely related that they could have been directly referencing betting. Everything in life is a bet and the odds change with your knowledge and self-awareness.