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.

Looking For Gambling Tips and Advice? Try These Starter Strategies

A quick look at the world of gambling tips reveals at least two general categories for guidelines and hints to help you win money online. Long-time writer and casino expert Gayle Mitchell offers a list of single-sentence tips that leave the thinking to the player. This sort of tip is self-explanatory and easy to follow.

For example, Mitchell’s workshops and seminars advise casino players to change $1, $5, $10 and $20 bills into coins, then carry the coins in a bucket so that you can judge your bankroll based on the contents of the bucket. This might be great advice for someone who finds it much too easy to snap that folding money off the roll.

If you’re an online player, there are similar gambling tips, such as setting specific limits for each session at the computer. For example, a player might have 1,000 points or dollars in the account and set a limit of losing 100, or 200. (The idea of when to quit is the subject of numerous articles, seminars and blogs.)

The other category that fits under the gambling tips umbrella would be gambling strategy. This advice may require more than few words to really be useful. But strategy tips are also crucial to success in a live casino or online.

An example: You can’t make a straight in poker without a 5 or a 10. That may seem to be simple enough as it is, but when you are looking at two hole cards and the three-card flop in Hold ‘Em this small tidbit becomes part of your overall strategy. This is also true when you are playing video poker and have to decide which cards to hold onto.

Of course, these two categories may not cover all the descriptions of casino tips, but they should be enough to start any player on the road to a little more success. Any assistance is welcome when you’re trying to win money online, right?

A Few Good Tips

On this subject, thousands of pages have been written, and thousands of words have been spoken. It’s impossible to cover even half of the great gambling tips and casino tips in one sitting. However, we’ll list a few of the best bits of gambling strategy in the interested of getting started.

In the video poker world, Mitchell suggests asking the moneychangers where casino employees play video poker. This could lead you to the best two or three machines in the building. She also urges video-poker enthusiasts to know about full pay and short pay. Full-pay machines offer maximum payback for the type of game – $99 out of each $100 that is bet, for example. Look at the payout tables and see if you are at a full-pay machine (nine coins for a full house and six for a flush.)

In video poker, you can throw away all five cards. Some experts gambling strategy say that a player will, over time, toss out all five cards once in every five or six hands.

Key gambling tips: Among the best bets in any casino, according to Mitchell, are a select number of slots and the full-pay video poker games. The best bet for blackjack is a table where the dealer has to stand on 17. According to this expert, keno, big wheel and double-zero roulette should be at the bottom of everyone’s play list. The bottom line for every player: Be an educated casino visitor. Check out the Frugal Gambling books by Jean Scott.

When it comes to true gambling strategy, the thinking cap has to go one and the player must devote a little more time to each issue. Let’s look at a great example from John Robison about slot play and the issue of playing full coins.

Key gambling tips: Robison and many have asked whether the additional risk of full-coin slots is rewarded with higher payback. Since this guy has a master’s degree in computer science and analysis, his study of more than 1,000 slot machines might be a good indicator of what to expect.

In the interest of keeping things simple for now, here are a few of his recommendations.

o With a straight multiplier machine, you are wasting time if you put more than one coin in at a time. Same goes for bonus multiplier.

o Play full coin on buy-a-pay machines, multi-line and on hybrid machines.

o Play full coin an progressives.

Among gambling tips, dozens of systems have been developed and tried as part of gambling strategy. For instance, the Martingale system included the advice to double the bet after every loss, so that with the first win the player would recover what was lost previously. This could work, but since each gambling event stands alone, it might take a minute or a lifetime to hit that first win.

Of course there are probabilities and expected value and so on, but if your chances are 1 in 10,000, you might have to wager 9,999 times to hit that one win. You may also lose 100,000 times before hitting ten in a row. The best advice among gambling tips would probably be: do what the winners do and hope for the best.

Gambling With The Best

Gambling today is one of the most popular leisure activities worldwide. Who does not want to make a few quick bucks at a risk? The adrenaline rush indeed makes it an addiction for many. Talking of casinos reminds me of one popular online casino which also happens to be one of my personal favorites.

William Hill plc is among the largest bookmakers in the UK. It was founded by William Hill when gambling was regarded illegal in Britain. The company operates worldwide and employs thousands of people and has offices in UK, Ireland and Gibraltar.

Online casinos today besides offering phone and internet betting on a variety of sports including football and cricket, William Hill offers casino games, skill games, bingo and poker online. Although it is engaged in betting, it prohibits any gambling by any underage person by training its workforce in that direction.

One can play at any of the reliable casinos and end up with a memorable time. William Hill Casino and many other casinos today have a storehouse of several games and is eminent for its fair play. It is dedicated to providing quality gaming service to people who wish to play casino games online with the same experience as that of a real casino. Whatever game you choose, be it table games or card games, casinos today are designed to meet every player’s gaming needs.

Apart from high class casino games, players are rewarded a welcome new player bonus and it goes on increasing with more and more playing and betting. Referring the site to your friend will also earn you some reward. Not only this, the mode of payment you choose will also bring in deposits in your account. There are promotions and bonuses on offer all the time so that all players derive maximum benefit out of these.

The degree of loyalty and participation players show to the site also makes them eligible to certain special rewards and earn them points based on which they can play further. As one progresses to higher levels, chances of hitting the bigger jackpot also increase.

For those interested in online betting in sports, William Hill lets you bet on many games like football, baseball, basketball, boxing, golf, handball, ice hockey, motor racing, horse racing, rugby, volleyball, snooker and many more. It contains updated information regarding the various games that are scheduled to take place and the progress of the game. Through its own broadcast system, it telecasts live matches and betting sessions at all its authorized betting centers.

There are many competitors today but William Hill Poker is rated at a high level when it comes to online poker playing in the gaming industry. The combination of superior software and excellent customer service makes this online poker playing one of the best in the industry. Players can earn millions of dollars and enjoy the benefits of numerous bonus offers and jackpots.

Whether it is for gambling in sports, casino games or poker games, casinos like that of William Hill makes the experience a truly fascinating and lucrative one, with people wanting to come back for more and more.

Gambling and Social Media (and Directories)

Social media platforms such as Facebook, Twitter, Flikr and MySpace allow us to stay in touch with family, friends and those even on the peripheral of our social networks. These platforms are also tailored in such a way as to group people such as by similar interests or common geographic areas which make them ideal for companies to market their products or services at almost no cost to appropriate demographics. Casinos are following suit with positive results.

Social media create tangible results for a company’s website through:

•Better Search Engine Rankings through more links

Website links develop authority when they are featured on trusted domains. Moreover, getting your website’s link posted on a popular social media site is a sure fire way of generating a high amount of traffic rapidly on your website from social media users who are curious to find out what is so special about your site

•Primary and secondary traffic

Social media generates both primary and secondary traffic. Social media sites which have links that directly send traffic to your website are useful, even if these websites have notoriously poor bounce rates (return users/readers). Even so, these websites will generate subscribers to your website. Secondary traffic is in some senses, more valuable, as these links are used by people who are interested in your content and therefore are more audience relevant

Although it is not quite the same, in the gaming industry, casino affiliate websites and directories provide a very similar service to companies in need of generating traffic to their sites, however these sites provide the added benefit of driving ultra relevant traffic and audience appropriate visitors to these casino affiliate directories because they already have the goal of gambling in mind.

Joining such websites appeal to both casinos, who can increase their SEO rankings and generate more traffic to their sites, as well as target users who like directories where they can shop for a casino at their leisure. These directories often also provide useful tips like glossaries for the beginning gambler, updates on online gambling news and quirky features like horoscopes where you can check out your luck for the year.

Try Winning Easy to get your gambling experience started!