How Elite Athletes Approach Risk Compared to Professional Gamblers

Saying that professional gamblers are like elite athletes will get you laughed at in most settings. It is akin to saying that chess players are elite athletes. But there are quite a few similarities that make the comparison more than obvious when you peel back the layers. The competitive settings with giant crowds, the intense concentration required to make things happen, the countless hours of preparation, and high-stakes situations that either make or break a career. There are more similarities than dissimilarities, and we will show you exactly how that is the case.

The Long-term Mindset

Everyone likes to call athletes, or anyone who is exceptional, for that matter, gifted. While genetic predispositions that sometimes spill over into exceptional physiology do play a role, a much bigger role is taken up by a person’s mindset. Even the most talented punter, one with a natural feel for poker, will never be among the best if he or she does not have a long-term mindset. This means years of preparation for that one moment when things have to go just right, in great detail, thanks to Lady Luck.

But the underlying mentality and a decent deal of luck are just part of the equation. How a punter or an athlete deals with loss is another beast entirely. Failure happens, sometimes quite often, and it is unavoidable. If you can pick yourself up, you are set to win in the future, but if you lie down, you are destined never to win again.

There are countless stories of athletes losing a match or missing out on their desired medal at the peak of their careers and then retiring early. But there are also stories of athletes who stayed active too long, simply wore themselves out, and did not end their careers with a bang, like they hoped to. Finding the right balance between these two extremes is a must for every professional gambler.

Trusting the Process

Since we are on the topic of mentality, we have to mention what sports psychologists are emphasizing as of late. They are saying that athletes who only focus on the process are distracted more easily. What this means is that coaches who encourage players to only think about preparation, execution, and effort undermine their athletes without even knowing it.

But professional athletes are not the only ones with professional coaches. The world of iGaming also has coaches who drill a certain mentality into their star players. Some take the preparation stage too far and cannot escape that mentality, which is why we recommend that you learn from elite athletes and trust the process. When Max Verstappen gets into a racing car, he knows that the preparation process has been done to its fullest extent, and all he has to do now is go out there and win.

Calculating Risk

Being an athlete and a punter are both highly risky activities. There will always be risk, even in the most controlled environments, so it is better to be exposed to it and learn how to manage it.

Formula 1 drivers do this all of the time, especially when taking on dangerous corners. Because they do not shy away from the risk but embrace it and learn how to deal with it, they perform better in real situations than they would otherwise.

A professional gambler has to do the same, arguably even more so, since it is a matter of time before he or she will lose. By facing risks, accepting that they will occur, and planning how to react, a professional punter can steer around a dangerous bend just like an F1 driver would.

Data Over Gut Feelings

There is something special about your gut telling you what to do. It feels almost as if a higher power is telling you what the right move is. The same has been said by athletes, who often reflect on a gut feeling telling them to move a bit here or a bit there. But punters cannot rely on gut feelings when approaching risk.

Gambling is all about odds. You can play the same game of roulette every single day for the rest of your life and never see the same exact streak, or you can play it for a few hours and see the same streak several times. There is no small-scale pattern, as gaming itself is all about long-term statistics, which are about long-term data.

It, therefore, comes as no surprise that professional gamblers are increasingly looking at predictive models to help boost their performance. The use of different prediction software is one trend that has been on the rise, with AI changing the game entirely, but this is just the start. Athletes and punters are, in this regard, living in increasingly divergent worlds.

Managing Careers

A hidden element of risk in every athlete's and punter's life is their career. If an elite athlete teams up with a certain brand, it can either make or break their public perception. The same goes for professional punters. If a professional punter signs a contract with a site with a bad reputation, his or her own reputation suffers. Choosing who they team up with, therefore, comes with a great deal of risk.

Another major element of risk is how they advance their careers. Sure, everyone wants to climb to the top as fast as possible, but not everyone is ready for the risks that fame brings. Old acquaintances start remembering you as an old friend, distant family shows up for an unannounced visit, and everyone starts being a bit too nice all of a sudden. Athletes and punters are, in this regard, in the same slippery boat of fame.

The Gaming Connection

Elite athletes and professional punters are meeting at the same promotional events. How and why? Well, the answer is gaming operators. You have certainly seen a casino sponsor a football club, a famous musician, or another public personality. But have you seen them sponsor professional punters? Well, it is happening more and more often. The most standout examples are streamers, who love to meet elite athletes. If you want to see which gambler will be the first to meet Messi, subscribe to our newsletter and allow OCR to keep you informed about the latest and greatest iGaming news.