My question to you today is, how much profit are you really making from gambling? (And please be brutally honest with yourself when answering that question!)
I hope you are winning! If you are then well done to you, as that surely is the goal for most people, but even if you are a rare winning gambler, are you making as much as you could? However if you’re not a winner then don’t worry as your not alone. In fact you’re in very good company, as an amazing 98% of gamblers lose money long term.
So assuming you are not winning, do you know why?
Well I’m going to hazard a guess the reasons are something like this;
a) Betting in the wrong types of races,
b) Blindly backing favourites (especially odds on shots)
c) No sense of money management,
d) Undisciplined approach
e) Chasing losses
f) Maintaining a ‘gamblers mentality’.
However if 98% of people are losing money it stands to reason that 2% must be winning, so who are these elite 2% and what is it that they do differently to the majority?
Well the elite 2% are the professionals and semi-professionals like me and we approach betting as a business. The betting industry like to call us ‘professional gamblers’ but lets just make one thing absolutely clear here, one thing we are NOT are gamblers and this description couldn’t be further from the truth – we don’t bet for fun, or for the sake or thrill of it. We bet for one reason and one reason alone – TO MAKE A PROFIT!
I’ve said this many times before and I’m going to say it again – ‘Betting is a business and gambling is for idiots’ – So let me try and explain the difference between betting and gambling.
As I have already stated I am a professional and as such I am in the business of betting for only one reason – to secure slow and steady long term profitability. To achieve this outcome betting professionally has to be BORING and MUNDANE, from a psychological point of view the result of just one race becomes almost irrelevant to me, as in the long term I know I will make a profit from my betting strategies. 스포츠토토
The point of running any business is to make a profit and to achieve this outcome I need the following three elements to work in my favour:
a) A betting bank,
b) A staking plan
c) A betting strategy which will deliver profits over the long term.
The betting bank needs to be big enough relative to my stake size to withstand the inevitable losing runs. It is also important that psychologically the betting stakes are well within my betting comfort zone, meaning that my pulse is never racing either before during or after a bet.
The moment your pulse starts to race should immediately alert you to the fact that you have stopped betting and are instead gambling, something has gone wrong with your strategy and you have become either uncomfortable with the size of your stake or have lost confidence in your chosen betting strategy. The inevitable result of this will be a breakdown of discipline and a desire to start chasing your losses, which is something I NEVER do. When I have a poor day then my attitude is always the same ‘cest la vie’, there will always another day.
I have many diverse and varied betting strategies within my betting portfolio but for the purposes of this exercise let me use my ‘Hughie’ Place Betting Strategy as an example of the above philosophy in action.