Be a Winner - Seven Simple Strategies For Profitable Gambling
Being a long term profitable gambler doesn't just happen, you may be lucky for a few days even a few weeks but in the long run there is no such thing as luck. A common known statistic is that only 2% of gamblers win long term, and those people in that bracket are not there by chance. I would consider myself to be in that bracket, although I'm certainly not a professional gambler, attaining that status is another thing altogether and requires a different outlook mentally, one I'm not totally comfortable with. Having said that to be a professional you'll need to be in that 2%.
As with most things in life the secret of success is to keep things simple and the following methods may be obvious, you probably know them and to a certain degree use them, but can you honestly say you stick to them? This article isn't intended to be the 'inside secrets' of winning, and each method is just a brief outline, but these are strategies I have used to help me become one of the 2% and are in my opinion, even though obvious, are those not used by the 98% who keep the bookies in business.
1. Odds & Percentages.
The only gamblers who are guaranteed to win long term are the bookmakers. The reason is simple, the odds on any particular event overall are always in there favour. You will never beat them unless you fully understand the way a book is formed, just Google the word 'over-round'. Every price offered by a bookie be it in fractional or decimal form represents a percentage value of the expected outcome, as they say everything is possible, and it is. You might be a boffin and an expert on probability theory in which case great, but a basic understanding of odds & percentages isn't rocket science. The fact is until you start to think like a bookmaker you'll never beat them. The bookies always have the edge overall, it's built in, all you have to do is spot when and where they have left a few cracks and jump in. If you imagine spinning a coin, out of a hundred spins say the bookie is guaranteed to win 55 to your 45. You wouldn't bet on every spin would you? But say on every 10th spin the you'd win 55% of the time, then you'd bet wouldn't you. The same approach must be used when gambling, it isn't easy to get right, but when evaluating odds on an event don't follow the crowd, have your own opinions and experiment with different methods until you find one that suits, and stick to it.
2. Selections,Patience & Confidence.
These three words are the most important. If your happy with your selection or your selection methods in general, and are satisfied you are getting good odds consistently on your bets then keep on doing the same thing over and over again. You know you won't win every bet, far from it, but you must have confidence in your selection and the odds you are getting. Be patient, wait for the right bet at the right odds to come along, don't bet for the sake of it. Losing streaks and winning streaks must be treated the same, they will both end eventually.
3. Staking.
Your selections must be backed up with a staking plan. It's no good having random amounts on every bet, don't use fancy staking plans and never chase losses. There is no staking plan which will turn a losing strategy into a winning one, don't waste time looking for one or experimenting with one. It's a road I've been down in the past with disastrous consequences, a road I took despite knowing in my heart it was wrong, nowadays I look on it as part of the learning curve. It might be boring but I would say level staking, one point per selection (one point representing 3% of your betting bank) is the best way to stake, adjusting the point value accordingly as the bank increases or decreases on a monthly basis. Your betting bank is to be protected at all times, and if you go bankrupt using this method then I'd give up to be honest.
4. Spreading the stake
Just as your betting bank is to be protected, your stake is to be protected also. Think of the dangers to your selection, no selection is full proof, can they be backed at decent odds also? I'd advocate any method of protecting my stake when betting, be that dutching, laying off in running etc. Most times it isn't possible, but if the opportunity arises where you can make multiple selections on an event and still make a decent profit then take that chance. Golf and tennis are particular sports where a couple of each-way bets can both pay off or by backing several horses ante-post.
5. Expectations
Have low profit expectations on every event, fancy multiples or forecasts are not the way to win long term, you may get the odd decent result and pay out but long term these are poor bets. Keep chipping away and grow your bank slowly. Be realistic in what you're trying to achieve, have a goal you want the bank to reach. As I said earlier being a professional gambler is not something I'm trying to achieve so my expectations are accordingly set.
6.Records
Keep records of all bets made, profit and loss figures and graphs, it doesn't take long and can help when things get tough and can identify where you're getting it right or wrong. Every month or two review your records in depth and take any findings to adjust your future strategy.
7. Discipline
This need no explanation, if you lose your discipline you lose your bank.
Being a long term profitable gambler doesn't just happen, you may be lucky for a few days even a few weeks but in the long run there is no such thing as luck. A common known statistic is that only 2% of gamblers win long term, and those people in that bracket are not there by chance. I would consider myself to be in that bracket, although I'm certainly not a professional gambler, attaining that status is another thing altogether and requires a different outlook mentally, one I'm not totally comfortable with. Having said that to be a professional you'll need to be in that 2%.
As with most things in life the secret of success is to keep things simple and the following methods may be obvious, you probably know them and to a certain degree use them, but can you honestly say you stick to them? This article isn't intended to be the 'inside secrets' of winning, and each method is just a brief outline, but these are strategies I have used to help me become one of the 2% and are in my opinion, even though obvious, are those not used by the 98% who keep the bookies in business.
1. Odds & Percentages.
The only gamblers who are guaranteed to win long term are the bookmakers. The reason is simple, the odds on any particular event overall are always in there favour. You will never beat them unless you fully understand the way a book is formed, just Google the word 'over-round'. Every price offered by a bookie be it in fractional or decimal form represents a percentage value of the expected outcome, as they say everything is possible, and it is. You might be a boffin and an expert on probability theory in which case great, but a basic understanding of odds & percentages isn't rocket science. The fact is until you start to think like a bookmaker you'll never beat them. The bookies always have the edge overall, it's built in, all you have to do is spot when and where they have left a few cracks and jump in. If you imagine spinning a coin, out of a hundred spins say the bookie is guaranteed to win 55 to your 45. You wouldn't bet on every spin would you? But say on every 10th spin the you'd win 55% of the time, then you'd bet wouldn't you. The same approach must be used when gambling, it isn't easy to get right, but when evaluating odds on an event don't follow the crowd, have your own opinions and experiment with different methods until you find one that suits, and stick to it.
2. Selections,Patience & Confidence.
These three words are the most important. If your happy with your selection or your selection methods in general, and are satisfied you are getting good odds consistently on your bets then keep on doing the same thing over and over again. You know you won't win every bet, far from it, but you must have confidence in your selection and the odds you are getting. Be patient, wait for the right bet at the right odds to come along, don't bet for the sake of it. Losing streaks and winning streaks must be treated the same, they will both end eventually.
3. Staking.
Your selections must be backed up with a staking plan. It's no good having random amounts on every bet, don't use fancy staking plans and never chase losses. There is no staking plan which will turn a losing strategy into a winning one, don't waste time looking for one or experimenting with one. It's a road I've been down in the past with disastrous consequences, a road I took despite knowing in my heart it was wrong, nowadays I look on it as part of the learning curve. It might be boring but I would say level staking, one point per selection (one point representing 3% of your betting bank) is the best way to stake, adjusting the point value accordingly as the bank increases or decreases on a monthly basis. Your betting bank is to be protected at all times, and if you go bankrupt using this method then I'd give up to be honest.
4. Spreading the stake
Just as your betting bank is to be protected, your stake is to be protected also. Think of the dangers to your selection, no selection is full proof, can they be backed at decent odds also? I'd advocate any method of protecting my stake when betting, be that dutching, laying off in running etc. Most times it isn't possible, but if the opportunity arises where you can make multiple selections on an event and still make a decent profit then take that chance. Golf and tennis are particular sports where a couple of each-way bets can both pay off or by backing several horses ante-post.
5. Expectations
Have low profit expectations on every event, fancy multiples or forecasts are not the way to win long term, you may get the odd decent result and pay out but long term these are poor bets. Keep chipping away and grow your bank slowly. Be realistic in what you're trying to achieve, have a goal you want the bank to reach. As I said earlier being a professional gambler is not something I'm trying to achieve so my expectations are accordingly set.
6.Records
Keep records of all bets made, profit and loss figures and graphs, it doesn't take long and can help when things get tough and can identify where you're getting it right or wrong. Every month or two review your records in depth and take any findings to adjust your future strategy.
7. Discipline
This need no explanation, if you lose your discipline you lose your bank.
