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Understand the true value of money

Understand the true value of money

Paulo Rebelo’s 2nd Chronicle for Penthouse Portugal magazine (September 2011)

«The happiest people are those who can evaluate the real value of the money.»

by Paulo Rebelo   |   comments 0
Monday, March 23 2015

The current crises times make very important for everybody to know how to relativize the value of the money. For the betting players it is even more important to know that, and it is an essential condition to succeed in long term.

I grew up in a poor family. I had to work to pay my studies. I had always good grades because I always thought that being good at school will lead me to have a good job and earn well, which would allow me to buy all the things that my colleagues had at that time and I didn’t.

With 22 years old I came to know the sports betting world, and I decided to invest my time analysing them scientifically. The results came quickly and shortly I had access to all the things money can buy and that most people will never have.

However, surprisingly, my happiness didn’t grow exponentially as I was earning more money.

It’s obvious that, for example, driving a Ferrari gives me more pleasure than driving a Citroën AX (my first car). However it was clear to me that what makes me happier is to play soccer with my friends, be with my family, have time to participate in some volunteer projects or have the time to do simpler things as sleeping the Sunday morning. Those were things that I always had, even when I had no money. Then I realised that I was always rich, I just didn’t know.

If I had that knowledge when I was young, I would have avoided some worries and I would have been happier.

We all need money to live, however, I think that our society over evaluates the power of the money. In this global crisis I think that who can understand money this way will be happier, who can value more those things that money can’t buy.

In a first glance this doesn’t seem to be a chronicle about betting. But it is. And in my opinion it’s what justifies the consistent success of the best betting players.

The punters or traders with the most success in their work are also happy people. They are not happy because they have money. It’s the other way around, they have money because they are happy.

true value of the money

But how their happiness makes them to win money with sports betting?

The best punters are happy no matter the money they have, this is, they can relativize the value of money. This capacity is a decisive advantage when the time comes to make risky decisions because this way they will be deciding always by the more rationally way.

Who could relativize the value of money will not get euphoric when wins and manly will not get depressed when loses, keep betting the same methodic and emotions less way.

The best punters don’t shake in the moment to make a risky decision, even though it’s against the flow of the market, as long as they are convinced that it is a value bet.

The euphoria blocks the rationality in the act of making decisions.

It’s fundamental not to get excited after a winning because the tough is not reaching the top but keeping in the top.

Certainly the technical knowledge and experience explain the bigger part of the achieved results, however, know to relativize the value of money is a great help to achieve the emotional control needed to reach consistent profits in sports betting.

Advice for everyone:

  • Give more value to family and friends.
  • Try to volunteer and see how rewarding it is.
  • Learn to appreciate the little things of your day that make you happy
  • Remember: money can only be responsible for a small part of your happiness, the greatest part are not possible to be bought.

Advice for bettors:
  • Bet no more than the amount you're willing to lose.
  • Think in your bankroll as if it has 30 chips instead of €30.
  • Do not get depressed when you lose. Try to see where you can improve.
  • Do not get excited when you win. Keep your discipline.
  • Remember, the main purpose of betting is fun. If you cannot have fun while betting, you'll hardly make money consistently.