1. Ideas from the book “Fooled by Randomness.” There are many ideas that boil down to the fact that we often mistake randomness for a pattern.
I think this particular one can be applied to gambling, many a times when someone tries something, and it works, he or she wins possibly out of randomness or luck as we often refer to it as, if that winning for instance continues in that same process, there is a stage it will get to, gamblers will mistake the randomness there for a pattern, most especially when that idea or strategy is no longer bringing in the wins, some assume they missed the partten and start trying to find and get back to it.
3. Ideas from the book “Antifragile.” By the way, the concept of “barbell” is also from this book. Keep 90% of the bank in conservative assets and 10% in high-risk assets.
This also I believe can be applied to gambling, we can simply assume this to mean that we should invest 90 percent of our money in low risks assets, and only invest 10 percent in high risk stuffs like gambling and sports betting.
I personally will consider this to be one of the best ways or idea to become very conservative as a gambler, making sure we never arive at a stage where we can say that we lost everything.