First one

I will start with a simple yet meaningful quote of George Soros:
It's not whether you are right or wrong that matters, but how much you make when you are right and how much you lose when you are wrong.
He is one of the worlds most well known and respected investors. And investing means taking and managing risks. Just like sports betting. Just like poker. And with these aspects in mind, I think a sports bettor's job is not that different from a Forex market investor's job. It's all about good information, timely decisions and managing risks and most importantly your bankroll. It's all about the edge you gain when you win over the inherent loses. You should expect to lose some bets, but with a sane bankroll and risk management, there should be enough winnings out there to make you a profitable bettor.