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.

Gambling Away to Victory

It is the era of the computer – the computer age. The computer has graced every home today and it is no longer a luxury but a bare necessity like any other house hold commodity. What the computer can do and can be used to do, knows no bounds and limits and like they say the sky is the limit! One very interesting thing that the computer can achieve though is the activity of facilitating working from home. Today’s youngsters want to change things and are very hesitant to stick to office routines and supervisor’s deadlines. They want to be free like the wind and make easy money at their own comforts. Gambling and making money on the internet while playing roulette is becoming an interesting and integral affair for such advance minded youngsters.

A Roulette wheel at any casino is a wonderful means of making money but how to win at roulette is really a matter to consider. A roulette wheel on a casino is an easy attraction to anybody to wants to make easy money. The only disadvantage of this is that there are no clear strategies to improve the progress in this as this is entirely dependent on luck and chance. This is not a brain game and there is no actual roulette strategies that can help you win more. Does this mean there are no workable roulette strategies that will improve the chances of making money on the Roulette wheel? Like we’ve seen above, it’s a chance game – but the intervention of the brain does definitely help the player to see more advantage of these as against the house. There are quite a few interesting things that can be done to improve our own odds while we play on the roulette wheel. These are some interesting pointers that can help you on how to win at roulette and make more money out of this chance game.

The first and the foremost tip on how to win at roulette – the American roulette is more disadvantageous than the European counterpart. So, choosing to play on the American wheel over the European one is a bad roulette strategy. If you ask why, the European wheel has 37 spaces which comprises on one zero, while the American wheel has 38, with a double zero space. That is the American wheel has 38 digits in total – with a zero and a double zero, whereas the European wheel just has one zero. This simply means that there is a 50% lesser chance for the wheel to stop at 0, when the wheel is spun. So while the wheel spins, there is double the chance of it stopping at a zero on the American wheel than on a European one. The casino houses using the American roulette strategy make about 3% more money than the European one.

Another interesting ploy would be to look for games that provide for En Prison or Surrender as an option is a very good roulette strategy. If you chose option of surrender you get to actually lose only half of what you bet, if you land in double zero. More importantly this applies to all bets – be it red or black, even or odd, high or low. As this enables us to prevent losing about 50% of the winnings, this proves to be an intelligent roulette strategy. When you chose this option and you land either on zero or on double zero when you spin, you stand to lose only half of what you actually bet. This applies to any bets – odd or even, black or red, high or low).

Like discussed, En Prison is also an option while playing these roulette games. The option of En Prison lets the player take a second chance to spin the wheel. This is more or less like surrender and when you land on zero, the chips are put in prison – imprisoned. When the player loses, he places his winnings on the table (meaning they are imprisoned) and takes a second spin. The player gets another roll and if you land again on zero – tough luck and you lose, if you win, you get to have your earlier wins and the one that you just got. There is nothing more that we can if the wheel again stops at zero, unfortunately he loses out. But then if he lands on anything other than the zero, he stands to double win.

These are some of the ploys that can be used to turn this game of chance to the advantage of the player and win more and more. The more the merrier and the entire concentration of the player could be on winning more money at such chance games from the comfort of his home. This is one great way to make easy money in the world today!

The History of Gambling

Playing casino games stays very popular since the beginning of time. The history of gambling goes back to the ancient times and there are much archaeological evidence that gambling was present in all advanced societies of the past: Greek, Egypt, India, China, Roma, etc. Numerous artifacts like dice, inscriptions of game rules and others were found all over the world. Some of them have been dated back to 2300 B.C. But it was the 14th century AD when gambling was considered to be against the law. King Henry VIII of England has banned gambling when he found out that his soldiers were spending more time playing than actually working.

The practice of paper money shuffling in ancient China became the predecessor of the modern game we know as blackjack. The practice has evolved into card playing, which was borrowed by the Mameluke Empire. Mamelukes, being Muslims used various designs somewhat reminiscent of famous Muslim carpets, to decor the cards. Upon its arrival to Europe in the Middle Ages, the players started using royal ranks of men within the Royal Court to denote the cards. But it was only in the 1500’s, when the French have introduced the Queen to the cards. These cards were known as the “French Pack”, and were the direct predecessor of the modern 52 card deck.

Roulette, as a casino game also has a very interesting history. The word «roulette» means «a small wheel» in French. The game we know today was popular in France in Modern times, and was edited by Francois and Louis Blanc into the form we all are familiar with. They have introduced the “Single 0” to the game in 1842, and roulette was brought to America in that variation. The Americans have made their own version of the game, introducing the “Double 0” to the wheel. Thus, there were already two types of roulette – European and American. There are ongoing debates regarding the origin of the game itself. Some people claim that roulette was invented by Blaise Pascal, the French mathematician who lived in the 17th century. Other state that the game was introduced by the Chinese and brought to Europe by Dominican monks. Regardless of its origin, roulette still is the most fascinating casino games today.

Dice have been around for more than 20 centuries, being involved in numerous activities, ranging from gambling to religious rituals. Dice, as we know it now, are very popular due to the game called «craps». This game was highly popular among the rich and famous of the 18th and 19th century England, and was originally called «Hazard». It was imported into France, where it got its modern name. “Craps” has derived from the word “crabs”, meaning “pair of ones”. The game was a huge success in America, where it was simplified into the present form and played on steam powered show boats.

Is the Stock Market Legalized Gambling?

A lot of people think twice about getting into the stock market because they believe it is similar to gambling. We are living in hard economic times where everyone is looking for a way to make extra money and secure their financial future. Because of the high standards of living and financial pressure, some people opt for methods such as gambling in order to earn money. While some people believe investing in the stock market cannot be equated to gambling, others believe otherwise. To understand the difference between gambling and whether the stock market is a legalized form of gambling, it is vital to know what each definition involves.

It’s important to mention that both investing and gambling involve putting money into use with a hope of getting back more. The dictionary meaning of gamble is highly associated with games which has no association whatsoever with stock investing. Therefore, it is accurate to conclude that gambling is closely associated with games and entertainment but with the aim of making a better return on the initial investment. On the other hand, investing in the stock market is all about business. It’s good to mention that in some countries, gambling is outlawed and therefore, those found engaging in this practice are reprimanded by the law. On the other hand, stock investing is a business investment practice that is legal across the globe. Based on this explanation, stock investing is purely a business activity and cannot therefore be referred to as legalized gambling.

For gamblers, their ultimate aim is to reap as much money as possible after playing a game. However, for stock investors, they don’t aim for immediate profits but rather, wait until the markets become favorable to allow them make good returns. In other words, it could take months or years before you finally make good financial returns.

The purpose of engaging in gambling and the stock market is totally different. A lot of gamblers engage in this activity in order to make money for leisure activities. However, the stock market is used by investors to grow their investment in order to spend it productively. Investing in stocks is a serious affair and can therefore not be associated with any gambling techniques. Stock market investment is a long-term affair while gamblers do it for short-term excitement by putting their money at risk and hope for a chance that it will turn around their financial fortunes.

However, despite the differences, there are a few things that both gambling and stock investing share in common. To begin with, they both involve the use of money in form of an investment whose return is not known. In other words, they are associated with both the risk of time and money. The stock market shouldn’t be at any one time confused with gambling whether legal or not because the two operate differently. It is important for the difference between the two to be clearly defined to avoid sending out the wrong perceptions.