Why Do 98% Of All Players Lose Their Gambling Money?
Because they lack DISCIPLINE, that’s WHY!
Most players lose gambling money hand over fist because they:
- Bet on hunches, whims, “sure things”, their gut feelings etc
- Have no sensible betting and staking plans in place
- Have no concept of how a “Gambling Money Bankroll” should be used
- Desperately attempt to chase their losses!
- Don’t study the subjects of gambling and betting
- Don’t treat their gambling as serious business
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Let’s look at each of these points in more detail.
Bet on hunches, whims, “sure things”, gut feelings etc
This is a TERRIBLE way to gamble! Why do people think that they will surely win if they put all their gambling money on a horse just because they “like its name”!? And as for “sure things” in gambling (especially horse racing) there really is NO SUCH THING!
So the lesson to be learned here is. BE TOTALLY LOGICAL IN YOUR APPROACH TO GAMBLING, BET USING FACTS, NOT FANCIES.
Have no sensible betting and staking plans in place
In order to succeed you must use both, a proven betting system and a staking plan. Most gamblers waste their gambling money by hopping from one system to another. They don’t realize that all they have to do is pick a proven betting system and staking plan and STICK TO BOTH LIKE GLUE! You don’t need to do anything else!
Have no concept of how a “Betting Bankroll” should be used
Most players don’t set aside a betting bankroll and even if they did they don’t have any real concept of how it should be used. A betting bankroll is simply a sum of money that you use for all your gambling activities. This gambling money should be money that you could afford to lose if the worst happened. Unless you follow the advice given here you will end up losing the lot and then some:
- Start with a small betting bank (e.g. $300.00).
- Re-invest your profits to grow your betting bank.
- Increase your stakes as your betting bank increases.
- Protect your betting bank by using a suitable staking plan.
Do all of the above and you have a really great chance of becoming a successful gambler.
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Desperately attempt to chase their losses!
Most people will put $5 on a horse and if it loses, they will double up and put $10 on the next horse. When that loses, they will put $20 on the next horse. This sequence continues until they are out of money. Instead of giving up, they return the next day to repeat the performance. This madness goes on day after day at every racetrack around the world.
If you try to CHASE YOUR LOSSES at ANY TIME, you are playing a VERY DANGEROUS AND COSTLY GAME! Don’t do it!! Use a sensible staking plan that prevents you from having to chase losses. BUT it’s worthless if you don’t actually apply it!
Don”t study the subjects of gambling and betting
You never stop learning, especially when it comes to the subjects of gambling and betting. They have fascinated me for years and they will fascinate you too, if you let them. My advice is that you take the necessary time to study the following subjects in more detail.
Different odds and how they are calculated – Different types of bet, e.g. Each Way, Singles, Forecasts etc – Online Gambling, eg. Poker, Video Poker, Roulette, Slots. Etc. – Arbitrage Betting (this means placing a bet that CANNOT lose) – Staking Plans and Betting Systems.
Don’t treat their gambling as a serious business
The bookies treat this business VERY SERIOUSLY and make millions in gambling money profits as a result, so why shouldn’t you do the same?
If you want to be a player then you should play the game exactly like the players do!
So, treat your gambling like a serious business because that’s exactly what it is.
Make sure you
- Keep detailed records of all bets placed
- Know your total monthly and yearly profit/loss figures
- Keep track of which bookmakers you have bet with
- Have a separate bank account to hold all your gambling monies.
- If you don’t do the above things then you are not really serious about being a proficient gambler, it’s that simple. So please make sure that you do them.
The 5 keys to successful gambling are