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Fundamental Rules and Psychology of Gambling
2008-04-13 19:51:28
Often when using a system it is the operator that results in failure, not the system itself. Below I list some important attributes to succeed in betting as I have and certain factors that I have found beneficial in order to get there. I don’t mean to preach or to sound patronising but am merely trying to advise on some important points.
The first rule of thumb is an obvious one:
1. Don’t gamble when drinking alcohol - By doing this you will likely lose you inhibitions and most likely your betting bank. People do funny things when drunk so avoid this like the plague. You need a sharp brain and the ability to concentrate so leave the betting alone while drinking.
The second rule is equally as important:
2. Don’t bet more than you can afford - this may seem very obvious but many people don’t listen. There are no short cuts to financial freedom from betting (unless you take huge risks which also is not advisable!) and people try and short cut to success by betting more than they can afford. Also this may be an act of desperation from financial woes for example. So in other words set aside an amount that you can live without and use that as your bank. If you lose then at least you can still buy food for the week or pay the rent!
3. Be Patient - You need this quality in abundance to succeed from gambling. Don’t take bets that have no value just for the sake of it. Whatever system you are using do not stray from the system boundaries just because you haven’t had a bet in twenty minutes and you’re getting bored! The leads us onto the next point…
4. Be disciplined - Goes hand in hand with the above rule really. You need to know your limits and not allow yourself to go past them.
5. Don’t bet blindly - Most people do. They have no system in place and just throw money around for a thrill. You may get a buzz from this but you will end up out of pocket, guaranteed. Don’t be a mug punter. You are better off having a bad system than no system at all. Use a proven method (there are loads on the Internet or mine below) or tipster that have proofed results.
6. Don’t get attached to the results - this also goes for not being attached to a particular team, a horse, their odds, trainers, jockeys, past results etc. It is best to not get involved with the winning and losing. Treat your betting activities as a business. Some days will be profitable others won’t. Don’t get attached to the winning or losing of the money. If you lose you just lose, if you win you just win. If you lose you will win again another day.
7. Be Objective - To be a professional gambler you cannot form an opinion of an outcome of a race or game. You need to leave your emotions at the door and bet with your head, not your heart. If your favourite football team is looking like it is going to get thrashed then bet against it! As I said treat it as a business.
Don’t pre-judge an outcome - Do not have an opinion on an outcome of an event. This can lose you confidence in any system and prevent your ability to carry on with it.
8. Have some balls - Yep, you need balls of steel sometimes when large liabilities are involved. If you whimper when a system tells you to put more than you bargained then you’re likely to chicken out and the system fails.
9. Don’t get greedy - a simple rule but many fall into the greedy trap. Be happy with what you have won rather than what you could have won.
10. Build your bank slowly - by starting low using small stakes you will build your bank gradually with your confidence in what you’re doing. Increase your stakes proportionately with your bank. This will keep your nerve intact and not give you any heart attacks with large uncalled for bets. It is always important to bet within your comfort zone, once your out of that you are much more likely to fail.
The above factors have attributed to my success at being a full time professional gambler and hope that you find them useful.
I realise I sound like a parent nagging their child but too many people overlook the importance of them and therefore prevent themselves being successful. The psychology of gambling is extremely important to determine that you make the correct decisions as at the end of the day betting is not rocket science, but to be successful at it takes all of the above.
About the Author
Internet Bum! More at http://www.fourthewin.com
JT
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Typical House Edge
Roulette (EU) Single "0" Wheel
2.7%
Roulette (US) Double "0" "00" Wheel
5.2%
Blackjack
0.6%
Baccarat
1.23%
Craps
1.52%
Above is a rough guide only House edge can vary on different bets - and some systems will let you tip the Edge in your favour explore the site to find out more!!!
GLOSSARY OF TERMS
ANTE
-Forced bet placed by all players in poker before the cards are delt.
BANKROLL
-The total amount of gambling funds available to you.
CALL
- A Poker player matches the current bet on the table.
CHECK
-A player can check in order to stay in the game but not bet.
DOUBLE DOWN
-In blackjack, it is the players option to double their original bet in exchange for just one more card.
EVEN MONEY
- A bet that pays back the same amount wagered 1:1
FACE CARDS
-The jack, queen, and king cards - any suit.
HIT
-In blackjack, to take another card.
HOUSE EDGE
- The odds are slightly in the favour of the casino to ensure income for the casino.
KICKER
-An odd high card held that doesn't contribute to a straight or a flush.
MARKER
-An established line of credit between a player and casino.
PAY LINE
- The active line or lines on a slot.
POT
- The total amount bet during a poker hand the pot goes to the winner of the hand.
PROGRESSIVE
-A slot machine jackpot that get higher every game.
PUSH
-Drawn game / tied hand.
RAKE
- The amount of money casinos charge for each hand of poker.
SESSION
- Amount of time spent gambling at any game.
STEAL
-A win in poker won by bluffing.
TRIPS
- 3 cards of the same kind.
WILD CARD
-Card that can be used as another card to complete a hand - Normally a Joker.