Learning 7-Figure Life Skills While Gambling | Ep 44

Pickham Expert has been very kind enough to agree to re-record his episode and we will be re-recording that , releasing it Thursday on the new YouTube channel , which is the other announcement . Check out the RiskTakers podcast on YouTube . I think I'll link it in the show notes now so it'll be easily accessible from Spotify and Apple .

We will also be releasing that on here , so that will be a video interview with him released . We will also have the one , hopefully , with Dylan Garber on the YouTube ad . To do a verification before I could post anything over 15 minutes long , dylan's episode is also ready to post on YouTube .

Once it's ready , hopefully by Thursday , there will be a couple of podcasts on there , plus , of course , you'll have Pickham Expert's episode on here . I really enjoyed my talk with Pickham Expert .

This is a must-listen-to episode because where Pickham Expert differs is he's done extensive modeling work to find Alpha in sports betting and he's someone that you need to listen to . If you're looking to go beyond the odd screen , like I'm talking about , pickham Expert has created his own screen . He's so far offscreen that he has his own screen , his own niche .

He's focused in correlation . This is a can't miss episode . I think re-recording , being comfortable with each other and having gone through the process and knowing what the stuff that really stuck was and where we really clicked , I actually think the second episode , the second time around , will be really good .

Please be ready on Thursday for an absolute banger of an episode . Yeah , and check out the YouTube channel which is just up . I just posted a Discord Q&A where I took some questions from the Discord . I've been trying to get that out on a video for a while . Finally got the video set up .

I'm excited to get the YouTube channel kicking a little bit , maybe cut up some videos into short form and whatnot . I'm not an expert at any of the video editing or anything . I literally just edited . I just clipped a video for the first time today , so we'll get better at that as time goes on . But anyway , check out the channel .

I'd love to have anybody interested Subscribe , like it . I think that all helps in the algorithm . Any help you can give me there to get the channel kicked off on the right foot would be awesome . Anyway , without further ado , today I wanted to talk about the contrarian mindset .

I actually kind of wanted to do an episode about unders again like betting unders , but I am such a broken record when it comes to betting unders that I tried to think outside the box and dig deeper into what I actually wanted to say .

And what I wanted to say was there is a value , a real life value that's outside of sports betting , that you can create for yourself if you find yourself comfortable betting unders . But it doesn't mean like if you bet an under , you all of a sudden learn this valuable life skill . That's not the case .

What I really meant when I was thinking about this was that by betting an under which is uncomfortable and contrarian to our natural instincts , it helps train a muscle in your brain .

Theoretically , I think I don't know , I'm not a scientist it helps train your brain to be more comfortable taking a contrarian stance , which is often optimal in many different facets of life . So first , the thing that kind of sparked this was every Friday we do a nuke in the golden pants discord . It's a tradition , it's really fun .

Basically all our experts , each who specializes in one sport , do their own originating Try and toss in one or two plays . Sometimes there's not enough sports on Friday to get six different plays but we throw them in a prize pick six , six man and everybody in the discord plays it . It's great fun .

There was a time in history where we hit back to back nukes which was the funniest thing . That in the greatest thing that honestly has ever happened in my sports betting career , Not from a money standpoint , but just from a holy shit I can't believe that just happened standpoint . So , side note , dip into nuke Friday .

But anyway , we're doing nuke Friday and there are some of the experts . I think we're kind of busy and there weren't a ton of sports and some of the lines were moving and I was a little busy and finally we decided because we were going to have Thomas Viola from Unabated come by the discord to show off some of the prop tools .

We're like how about we just make it on stream ? So we just make it on stream while we're checking out Unabated and a lot of the values on unders which , if you've listened to me , that's common . So we make a nuke whatever , throw it out and there's like I don't know , four unders on it , two overs , something like that .

Maybe it could have even been five and one , but it was like four to five and one . Now , historically the nukes have had a lot of overs , like you know more than I would personally play like I always thrown an under myself , but I would say the nukes generally still tend to have had overs .

There's more unders coming now , but overall it's been pretty heavy to the overs and we throw this out . And someone's like I don't know , like this is a lot of unders or like this was most unders I've seen on a nuke . It makes me uncomfortable , or something like that .

It's interesting because I've never heard someone say that about overs , even though , like I have probably been like there's probably too many overs on this , like no one else has really said that . And it's very surprising to me because I've had this conversation about overs and unders , overs and unders , right , and I'll .

You know , there's people who are really good at handicapping a given sport , but they still take overs and I'll be like why are you taking overs ? They'll be like oh , you know , it's because you never know in this sport or something . And I was like . Well , you know what's the ?

What's the data on over , undersplit , right , because the data that I have both anecdotal and dodle or whatever the opposite of anecdotal would be is that unders are , at a minimum , slightly better . So , you know , I just don't I'd be really surprised if it wasn't better .

In your sport and you're picking a lot of overs , I feel like you would win more money if you just picked more unders , right , like . But I find that it really is hard to get smart people to even start picking unders , and I get it . It's uncomfortable , it's not fun , I guess , or whatever . But here's the thing it makes money .

What's a great part about sports betting is you're often trying to battle yourself . You're trying to . You're at war with your natural instincts , because the sports books are always going to prey on our natural instincts , because all their customers bet overs .

So , like , overs are going to be a little worse because they'll make a little more money , because and why is that ? Because it's just human nature to bet over . That's why the sports books make overs a little worse , and every time human nature goes one way , the sports books punish you for that .

So to be a really good , dangerous customer , you have to be like , you have to kind of separate yourself from your base instincts , and what I was thinking about with Unders . It's like if you can build that skill of being objective and being like well , this is the number , you know it's too high , so I'm going under .

Or this is the number it's too low , I'm going over right , that's fine too , but it's as long as you have a process that determines the number and then picks a direction . What you don't want to be doing is pick a direction and then see if anything fits it . That isn't a very robust or scientifically sound process , right .

So what gambling is actually a low stakes environment for you to do is it helps you try out making correct decisions you're uncomfortable with for pretty low risk , right ? If you are managing your bankroll responsibly , you could start betting your Unders and lose a couple of units and all is fine , right ? So I've always thought that gambling can really prop .

Gambling well and working hard to get good at gambling , as long as you're staying disciplined and not losing sight of the rest of your life , it can be very beneficial for your mindset and just how you approach decision making , because you get to make so many stressful decisions , or decisions that most people would find stressful , which is like wagering amount of

money on an opinion or on a process you've developed and then tinkering with it or sticking with it or whatever , and rinse and repeat and there's no like , there's no hiding from the fact that you're either gonna win or lose , right ?

So in this arena , it actually really trains you well to be a contrarian thinker , which I think is extremely helpful for being successful overall . Like a lot of the people outside of gambling that I look up to , and I'm sure that you look up to , are contrarians .

Like the people that we know , most of them are contrarian , right , because they made the tough decision to kind of go against the grain , try something risky or try something that's not normal , and that's where the outside rewards are right . So next time , next time you hear me screaming about betting unders , just think of it as like an exercise .

It's a win-win , right . Learning to bet an under and being okay with it and doing something that might go against your base nature is a good skill . So if you lose , you've also picked up a good skill . So it's a win-win and we're always looking for win-win scenarios , right , and there's plenty of these .

If you're gambling responsibly , if you're trying to learn this , if you're trying to do a good job , I've always said that you don't have to make a lot of money to make a million dollars gambling , because if you even learn how to win gambling , you might be getting a million dollars worth of life skills right there .

If you just train yourself to be disciplined enough and to think in terms of expected value , that right there is probably . You know , say you don't say you make . You know 20,000 a year If someone else makes 40, . You both learned how to win gambling .

You've both trained your mind to think properly about risk , expected value , being a contrarian , all this stuff , that extra 20k I actually don't think it's that big of a difference because I think you've both picked up six to seven figures worth of life skills . That's a long pitch to say , but more unders , but I really do think that there's something there .

So that was a little bit of a . That was like a Saturday episode mix with a Tuesday episode . We'll get really in the weeds with Pick'em Expert , though this is the setup , and then we're going to . We're going to really learn a lot from him on Thursday . So I appreciate everybody for listening .

Again , if you could just check out the YouTube channel , give me a subscription review , whatever it is . I don't know exactly how the algorithm works , but just like , like it and share it and whatever I would love to . I love to see that take off . So thanks everybody for listening and I will see you on Thursday with Pick'em Expert .