Betting is a Business – Gambling is For Idiots!

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.

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.

‘Hughie’ Place Betting Strategy

Here are the Hughie results for the six months to 01 June 2009. (I could use any 6 month period from over the past 9 years, in fact some previous half yearly figures would show higher profits. But these are the latest figures and emphasise the points I am trying to make.

The results are based on a betting bank of £400 and the stakes being used are as follows £2, £4, £8 and £12

Oct 1 + 77.63

Nov 1 +129.90

Dec 1 + 14.34

Jan 1 +179.83

Feb 1 +116.37

Mar 1 +169.58

Apr 1 – 3.62

May 1 + 13.81

Jun 1 + 77.78

The first thing you will notice is the relatively small and ‘boring’ size of the stakes I am using in relation to the size of the betting bank. By staking such a small percentage of the betting bank on the ‘Hughies’ takes all the stress away instantly, as the bank is never in any danger of going bust and the stake size is always well inside my betting comfort zone. Some of my members bet the ‘Hughies’ to much bigger stakes, however if the stakes are doubled or trebled then so must the bank.

As you can see you could comfortably follow this particular betting strategy to the advised stakes and at betfair sp safe in the knowledge that win, lose or draw over a long term period of say 6 months you would be comfortably in profit. You wouldn’t need to watch any races biting your finger nails praying that a particular horse hung on for a place, because you would be confident that the strategy works and one or two horses not placing wouldn’t make one jot of difference to the ability of the strategy to deliver a long term profit.

I keep using the phrase ‘long term’ because it is essential that you understand that it takes this long-term approach in order to succeed with any betting strategy. Just have another look at the ‘Hughie’ results above and you will clearly see that the months of March and April were not good months for the ‘Hughies’. At the time I remember saying regularly in my daily column that it was probably down to the transitional period of switching codes from the ‘jumps’ to the ‘flat’. For me though that’s just part and parcel of any strategy – we will have these bumps but will come away unscathed as all that matters is to maintain a long term strategy. The plan works, as it doesn’t require me to either lose faith or panic. That said any member who joined in March or April and followed my advice to concentrate on the ‘Hughies’ would have been pretty downhearted by the end of April as it would appear to them that the ‘Hughies’ are a poor bet. However any member joining last December enjoyed a terrific run and would have had a totally different opinion of both ‘place betting’ and me.

I think this point clearly demonstrates the importance of taking a long-term view of any betting strategy (12 months minimum I would argue)

Anyway this example of how safe, slow, steady, boring but consistent profits are generated month after month after month is just one aspect of a strategic and professional betting approach and hopefully demonstrates the difference between the excitement of gambling which is for thrill seekers and the boredom of betting which is my business.

Article Marketing, Online Submission Sites and Gambling, Bingo and Casino Categories

Should online article submission websites have gambling categories? Well some advertisers do not like them much or care to be associated with them. Why you ask? Well for many reasons really one reason is that many of the Online Gambling Websites are illegal and operating outside the law. Some have set up servers in foreign lands and allow illegal gambling on the Internet to people in states who have outlawed gambling for the citizens of that state.

But that aside should online article submission sites have Casino, Gambling and Bingo Categories? If they broke up the sector they could indeed separate out the various elements of the Industry Sector. You know it seems to me that Bingo Night and bingo supplies is not really the type of Gambling that any Advertiser would care about anyway.

Could it be its own special category? Bingo although I guess is gambling could just as well go into the Business Category of Fundraising? Since so many non-profits use this a way to make money. I wonder if such Bingo Articles belong along side online gambling sites?

Bingo is certainly not the same as online offshore gambling or Casinos. Of course some Indian Casinos do in fact have Bingo because maybe their states do not allow full on gambling. Interesting the sub-category issues.

State Lotteries are also gambling and I am sure the Advertiser would not mind about that either. And it is legal gambling and the profits from State Run Lotteries often go towards education too. Apparently this subject has so many various sides too it. Well, knowing the entrepreneurs in the online article submission Internet sector, well I’ll just bet that new sites pop up to handle such gambling categories. Perhaps we should consider this in 2006.

How To Ask A Lottery Winner For Money

Are you in need of money? Perhaps you just want more money. Either way, you might be considering asking a lottery winner for money. If so, you would probably go about asking in different ways, depending on whether or not you actually know the person.

If You Know The Lottery Winner

Let me tell you a true story about two women. These two women were best friends for many years. For one reason or another, they drifted apart and didn’t see each other for a few years. Then one of the women won the lottery. It was a massive jackpot worth hundreds of millions of dollars. A few years after she won the lottery, she re-connected with her old friend. Within days of re-connecting, the one woman told the jackpot winner that she had $50,000 worth of medical bills that she just couldn’t pay. Read between the lines – She was indirectly asking for money.

The jackpot winner was more than happy to pay the medical bills for her friend. She told her to just give her the bills and she would take care of it. That would have been great, except that there actually were no medical bills. It was just an excuse for a reason to ask for money. The lottery winner didn’t like that. If the friend just straight out asked for the money, she probably would have given it to her. But her friend lied and insulted her intelligence.

What’s the moral of this story? If you have a friend that won the lottery, don’t come up with a false story to try to get some money. Rather, just ask you friend straight out to give you some. They just might do it.

If You Don’t Know The Lottery Winner

If you’re planning to ask a lottery winner that you’ve never met for money, you should know up front that the odds are against you. A lot of lottery winners, especially new ones that win massive jackpots get inundated with requests for money. Often, those requests come via sob stories that tug on the person’s emotions. You should know that these new lottery winners quickly become immune to these requests and tune them out.

So if you’re planning to ask a stranger for money, don’t come up with sad stories. Just like in the previous example, tell the truth and just say that you’d appreciate it if they could spare some money. They’ll more than likely decline your request, but don’t take it the wrong way – Jackpot winners can’t give money to everybody that asks them for it. Just make sure that you don’t harass anybody while asking them for money – That’s illegal.

High Roller Online Casino Bonus Is Tricky

When I first started playing at online casinos few years ago, I was a real bonus whore who tried out every possible way of getting free casino cash, every free dime and gambled it away. I never purchased maximum amount of money back then to receive maximum amount of bonus money, because I always thought: “Hey, I am going to win eventually anyway, I don’t want to spend extra $50 for getting more green to my casino account!” Of course, I lost it all and was quickly depositing again, this time without bonus, which clearly meant I was not very good handling my jumpy bankroll.

This is not what I do know. Although nowadays I don’t play slots, blackjack and craps very often at online casinos, I still hop by once in a while and give myself a shot. Some might call me a “bonus whore” even now, since I choose casinos by bonus. I don’t do that systematically anymore since I run my own gambling website and I keep getting generous bonus offers that I mostly keep for my visitors.

What I do now – I search the most generous bonus amount I can get from a casino with my first purchase and I buy myself that bonus. Searching the generous bonus amount includes reading terms and conditions carefully and doing some research work to make sure I am not getting ripped off.

I call these huge bonuses high roller bonuses, since they are perfect for people who like playing long sessions and who are willing to spend a lot of money in order to win big. High rollers are also aware that they are going to lose in a long term, but if they are going to lose anyway, why not lose the minimum amount of money? This is the root of online casino bonuses that every player should understand.

Since most of these high roller bonuses have similar terms and conditions, I will bring you few examples from random casinos and explain them to you. The following is essential, since if you don’t follow the terms you might lose all the winnings and the bonus itself as well.

The first example is from Racetrack Casino, that has 20% first deposit bonus up to $500. In the interests of fair gaming, they require you to have wagered a minimum of six times the total amount deposited plus bonus, up to a maximum wager of $18,000 for each deposit plus bonuses made during the bonus promotion time. The following is extremely important for you to understand! – If you make a withdrawal before wagering six times your deposit and bonus, the bonus money and winnings will be removed from your account.

The other example comes from Europa Casino. This casino claims to have $2400 welcome bonus for all the players, although it isn’t quite so. They have one of the trickiest bonus systems. I have personally only used the $500 welcome bonus, which is actually a 25% first deposit bonus. “Low rollers” have to do with 100% first deposit bonus with many times smaller first purchase.

To the bonus: In the interest of fair gaming they’re ordered to cash out any amount of money you must wager at least twelve times your play bonus plus deposit. Players depositing in U.K. Pounds must wager at least eighteen times your play bonus plus deposit. If you withdraw before having reached the minimum wagering requirements, your bonus and winnings will be void. So, again the similar bonus structure.

At least now you can understand why casinos offer those bonuses – it’s not very likely you have lots of money left when you have wagered at least twelve times your play bonus plus deposit. But you can always get lucky, and this is what we all want when we step in to a casino!