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10 Essential Rules When Gambling

Gambling General

10 Essential Rules When Gambling

Clifton Mccoy February 5, 2020
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Practice Discipline

It doesn’t matter what kind of gambling operation you get involved in, be it online horse racing, Soccer, Poker, Roulette, etc.if you go into gambling transactions without caution then you’re sure to regularly reduce your chances of winning.

If you have no discipline and no desire to inherit any then make a vow to never play for yourself.

Don’t Chase Losses

There is always a temptation if events unfold against you to pour more money into the bet to try and force a profit. The strategy just increases your chances of losing further.

Likewise, following the tactic after a loss you need to recoup your gains by betting more on the next case is also a disaster formula.

If you have this feature, please seek professional help as it is an obvious symptom of’ problem gambling.’

Know the Strategies

The one thing that’s certain is you’ll never win all of your transactions and some losses are inevitable. Properly managing your bankroll means these losing transactions are swallowed up in the big picture and not noticed in the long run.

We recommend that no single transaction will eat more than 2.5 percent of your starting bankroll, or the limit you set yourself below this (depending on the probability of winning). Any failure to properly handle your bankroll is symptomatic of greed.

Most gamblers don’t have any framework for their betting operation and place bets without worrying about how much they might lose or how much they try to win.

You must behave as a company and the targets must be SMART= General, Measurable, Attainable, Realistic and Time-based. You then need to structure your staking strategy to achieve those goals without any variation.

Accept Losses

How you cope with losses psychologically plays an enormous part in how successful you are at gambling. Of course, no-one likes to lose, but at the point you set yourself, whether you are losing or winning, you have to learn to walk away. Not every session is going to be a good one and it is crucial that you have the ability to handle this before you play.

Specialize

Specializing in all successful businesses, and gambling should be no exception. Through specialization, you can better understand your chosen field, and more ably study it. Less, more focused wagers that are based on sound statistics and research are a much better way to invest hard-earned money than using a scatter-gun approach. Check your betting patterns closely and see which area is ripe for specialization.

Do Your Research

Once you’ve decided on your specialization area, it’s time to research your market and where you’ll be making your investments. The power of the Internet has made it easy to obtain information and you can find out as much information about your chosen market in a matter of minutes as you require. When you wish to take your gambling to the next level, maintaining your own records and data is also an absolute necessity. Again, it’s all about how diligent you are in researching your chosen field, so that with the greatest chance of success you can invest your money.

Apply What You Learned

After researching your chosen market and finding a strategy in a specialized area, test it first on paper without risking any money. If 75-80 percent or more of the time seems to work, then start off with small stakes for real and build up in line with the staking strategy. Never risk an unproven idea with money.

Keep Records

It is absolutely vital that you maintain accurate records of all of your operation if you wish to take your gambling to the next level. Gambling in the United Kingdom is tax-free but it is advisable to keep records should the taxpayer ever investigate the activity on and off your bank account. For this reason, maybe even a separate bank account is advisable.

The other key use for record keeping is to keep track of winning and losing times to make improvements to your betting strategy and specialize even more in keeping losses to a minimum.

Avoid Accumulator Bets

Whatever market you want to specialize in avoiding multiples, accumulators or’ parlays’ as known in the United States. Combining the odds of multiple events looks attractive on paper but at the same time you are lowering your statistical chance of ever seeing that win by increasing your possible win.

Bookmakers absolutely love greedy gamblers blinded by the large numbers who give up their statistical winning chance from the outset. If you can’t resist making an accumulator bet and the whole thing depends on the last event to fall in your favor then by’ laying off’ or’ hedging’ you’ll be better off ensuring a smaller profit. Don’t sweat it out in the hope of having success (and we’re certainly talking

Never Gamble While Drunk

All the casinos we’ve ever visited offer free alcohol when you’re playing games because they want you to lose your discipline, and they know it’s the easiest way to get you drunk (mine’s a Bombay Sapphire, chilled tonic and a slice of lime; no ice please!).

As the saying goes, “A fool is easily divided, and his money” A drunk fool is even faster relieved of his money, and sometimes never realizes how stupid they were.

To serve as a warning, any serious gambler dumbness will mentally and/or physically hurt. We can absolutely guarantee that at one time or another every punter has behaved without preconception: this is only normal and all part of the very steep learning curve.

Please understand that all gambling establishments are relying on their clientele’s stupidity and greed for their business life.