Rules of Gambling

I have met many people over the years and had great advice, which i have i ignored to my cost. In the long run there is only going to be one winner. The advent of betfair opened the doors to everyone to try and stand in the bookmakers shoes. Some make money again a lot more lose.


The biggest rule is if you gamble only gamble what you can afford to lose.


I will make no bones this is the best bit of advice i have seen and it was once posted on a forum. I have copied it and would like everyone to read it.



Knowledge is power..



Questions to ask yourself


Why bookmakers make a profit.
Why casinos make a profit.
Gambling causes problems for people, it can be dangerous to do, even for those with the best of intentions.
This is a mathematical game, if you know points one and two then you will also know the chances of you making a profit is close to zero!
The chances of you losing your money is therefore close to 100%.
If you are doing it for entertainment then spend time figuring out how you will feel once you have lost. Because quite simply, you will - make sure you are ok with that and make sure you won't want to make it back.
Never bet more money than you can afford to lose.
Probability, probability, probability. You can't beat it. The gambler's fallacy. Don't know about probability ? - Give up now.
Never use gambling as an escape from real life problems. Some gambling games hypnotically affect people, they are designed to suck you in and make you forget reality. Never forget the bigger picture, know how much money you are betting.
Some casinos pump oxygen round to keep the gambler's going for longer, slot machines make trance like patterns with their lights. Don't you think this is more than a little out of order?
It is in bookmakers best interests to glamorise gambling. To make you think you can win and to push bad strategies subconsciously onto you. Hardly surprising is it?
People selling systems are almost guaranteed to be losers. Why would you sell a system when the rewards for using it would be so much higher. Also, a sold system becomes worthless because so many people use it and the bookmakers / markets change because of it - system no longer works.



These are my views



I would never ever tell anyone to gamble, in fact i would discourage it, like drink or drugs the highs are great but the lows can leave you drowning into the gutter. Those that ask or they have seen people make money from gambling and would like to try it, remember you may only have heard the good times for every good time there may well be twenty bad ones.


Only bet on what you know, don't chase remember there is always another day, keep a record of your bets and what you bet on this will tell you how you are doing over a period of time, then you can manage your bets better.

The biggset thing you will need to learn is

Discipline.

Without that you will never win.

Good luck and happy punting.