The most successful and well-known sports bettors and analysts rely on quite a few skills. From the outside looking in, it probably seems like a bettor’s most valuable tool is being a diehard fan of a specific sport, league, and/or team. While that certainly helps, it’s just the tip of the iceberg when it comes to qualifications.
In fact, this is true throughout the iGaming world. This umbrella term covers a lot of different activities, including online poker and casino gaming. Poker is the most well-known example worldwide, as close to 100 million players regularly log on to compete virtually. Every year, players rely on programs like the Power Path to help them achieve their personal goals of becoming professional players who compete in major tournaments.
Just like sports bettors, poker buffs must develop and hone a wide range of skills—from hard skills like analysis and statistics to vaguer skills like emotional control and long-term vision. Both poker pros and successful bettors are mindfully able to pull on all their internal resources, including mental, emotional, and even physical cues.
Sound a little imprecise? Let’s explore the top five skills that are crucial for success in iGaming, whether playing online poker tournaments or betting on in-play markets at the Super Bowl.
Skill #1: Bankroll Management
There’s a lot to be won or lost when it comes to iGaming. The most important skill that players and bettors must first develop is their ability to manage their resources. This is called bankroll management, as it usually relates specifically to the funds used to place bets. The better the management, the longer the fun lasts.
But bankroll management is also about long-term thinking (more on this below). Whether betting on a future market or playing the first game in a tournament, iGaming buffs need to track their bets closely in relation to their overall budget.
Skill #2: Knowing How to Play the Field
The more experience, the better in the iGaming world. That’s because each sector of this large industry has its own niches, unwritten rules, and offers. It’s important to balance these out to play the field correctly. Both poker players and sports bettors, for example, regularly have access to steep bonus deals. Those with the correct experience and vision can leverage these for further plays.
Skill #3: Emotional Control
In the world of poker, there are two terms you should know. First is ‘tilt’ and the second is ‘bad beat’. A bad beat is when the cards seem stacked in a player’s favor but don’t lead to a win. Tilt is the strong and negative emotional reaction that can throw players off their game.
Anyone with experience in the iGaming world knows that a painful loss can easily lead to strong emotions. But the best poker players and punters are able to maintain control of their reactions, whether that means taking a break or walking away.
Skill #4: Analytical Skills & Pattern Recognition
It’s impossible to predict how a game will pan out—and that’s half the magic of betting on sports and playing card games like poker. Still, that doesn’t mean that those who love these activities aren’t able to analyze what’s happening and recognize critical patterns.
Sports bettors need to zero in on things like matchup history, injury reports, season records, and other hard data to inform their decisions. Poker players, on the other hand, are usually analyzing the potential hand rankings of their opponents. This is also based on statistics and analysis.
Skill #5: Long-term Vision & Planning
Lastly, it’s worth pointing out that successful iGaming professionals usually have a plan for the future. This long-term vision directly informs all the skills mentioned above, including how they allocate their funds, play the field, manage their emotions, and analyze the competition. Usually, long-term vision focuses on planning for short-term losses without losing track of larger goals. This is also an important skill for those just starting out, as they need to be able to plan, organize, and benchmark their efforts
