When we think of traditional gambling mediums however most of us usually know many people who simply loose money via these methods and rarely have any form of return. Let’s consider the other aspect though. Are there people who make a full time income from traditional gambling mediums? The answer is, absolutely YES. Are these people exceptionally lucky in some way to the point where they can make a good income from traditional gambling? No, absolutely not. You’d have to be the luckiest person in history to be able to make an income from gambling simply by luck alone. So how does a professional gambler make an income from gambling if it’s not by some magical talent or luck? He does it in the same way that a professional stock market investor does it. To understand how though, we first need to understand the real distinction between gambling and investing.
The Real Difference between Gambling and Investing So what is the real difference between gambling and investing? Firstly, gambling is placing money on a game of chance or activity with random outcomes using selection methods with no sound reasoning behind them or historical data to draw a conclusion about the particular selection method. These methods can be using favorite numbers or colors, birthdays, favorite jockey, name of a horse, or the “someone told me” system. There are an almost endless variety of methods that gamblers use to make selections. Gamblers almost always have another couple of traits as well. Namely they expect an enormous return for a small outlay, and they rarely manage there gambling money or set aside a bank of funds to gamble with.
A professional investor on the other hand uses proven data and research to make selection choices, works his investing as a business, sets aside a working bank of money for investing, expects to make small to medium returns which he then compounds to build his working bank, and uses common sense risk management to limit the risks with any single investment. Basically, an investor educates himself in the area he wishes to invest and then makes educated decisions when placing investments. An investor also does other things that a gambler doesn’t such as have a set “bank” of money to invest with and manages that bank in a business like manner. He also does a risk assessment to limit his liability on each investment.
In a nutshell a successful investor in anything does these things:
1. Educates himself about the investment medium.
2. Invests in his education by obtaining trusted and relative information.
3. Learns and applies prudent money management skills to limit risk and smooth out fluctuations in returns. (Every form of investing including stocks has fluctuating returns. A period of unusually high returns should not temp you to make risky choices any more than a period of low or negative returns should temp you to cease your strategy because of fear. Providing that you have a 5
strategy based on proven results it is best to try to keep”*emotions” under control as fluctuations will invariably level over time providing the strategy is based on sound information and money management).
*Note – Another reason that some people fail to profit from quality strategies is that they retain a gambler’s mentality and allow emotion to unduly influence their decisions. Example of an investing approach to gambling
Firstly, to give you a better idea of an investment type approach to gambling let’s say you have obtained a database of all the race results for a particular race track for the last three or four years. Let’s say two thousand races in all. You do some research with the results and find that in seventy-five percent of the races (that’s seventy-five races out of each one hundred) horse number one has run a place. Now that sounds like a profitable piece of information to have. Would you go out on the basis of this information and start placing place bets on number one in each race at that track? I hope not. While the information sounds promising there is still an important piece of the puzzle missing. The average return price for each placed horse. What if the average return price is only $1.28? Let’s take a look.
100 races = $100 out
75 returns at $1.28 = $96 returned
Total average return on each 100 races = a loss of $4 or 4%.
Not exactly what we are looking for. However what would happen if the average return was $1.50?
100 races = $100 out
75 returns at $1.50 = $112.5
Total average return on each 100 races = a profit of $12.50 OR 12.5%.
So our profit on turnover here is 12.5% which would be a great situation to have and certainly be an investment type situation if the results were proven over a significant number of races and we used proper money management skills to grow our starting bank and increase the amount invested inline with the growing bank and also use adequate risk management.
Know which form of gambling is for you
There are a myriad of different forms of gambling that you can choose from to throw your hard earned money into if you are the typical “hope for lady luck” style of gambler. Of these some are virtually impossible to make any money from because the odds favor the house (casino, club, bar, or venue) so much and there is no way of influencing or predicting the outcome. There are some forms of gambling however where anyone who studies and applies logical and proven strategies can bring relatively consistent returns similar to traditional investment. The games where you have little chance of making consistent returns include:
Slot Machines
The user has no control over any aspect of play with these machines except the size of their bets so you are at the mercy of lady luck. The house edge is usually considerable so this form of gambling should only be used for a little fun with spare change.
Bingo
Another popular game particularly with retired people, this game is again a pure luck game. You purchase a game card and wait for numbers to be called and if you’re lucky you may win a prize but most people just do it for fun and rarely win anything.
Keno
Keno has become very popular in clubs, bars, and online casinos in recent years. The large payouts encourage gamblers with the dream of winning big but the miniscule odds are reflected in the payouts available.
Lotteries
Much the same as the keno story here although the game has a high participation rate because we all like to have a little go at the million dollars. We’d all love to win millions but sadly the odds are so small you wouldn’t bet your house on it or you will certainly end up living in a tent.
Games where it is possible to make a profit Horse Racing
Horse racing is one form of gambling that the vast majority of people loose their money on, however it is possible to make a good income from racing given the proper skills and investment capital to work with. One problem here is that there are so many sources, ratings services and promoters of software that are complete rip-offs that it’s often hard to know what is genuine and what is not. I myself was the victim of one of the software ripoffs many years ago at which point I decided to educate myself about racing and gambling in general. Ironically what I did learn about staking in particular if applied to the selections from that software would have turned a big loss into a small profit. This proves how important money management strategies are in the grand scheme of a profitable investment approach as apposed to a gambling one.
Many approaches to profitable horse racing use ratings services etc, but there are less risky and more consistent ways of profiting by looking at horse racing in the same way as profiting from any sports betting. The member site (see last page for access) has details of the best method of sports betting for guaranteed profits by looking at opportunities in the market in the same way as a skilled stock market investor looks for opportunities in that market.
Roulette?
Roulettes were invented by Blasé Pascal, a French mathematician, in 1842. It is a simple gambling game where you have to bet on which number a small ball will hit. I have placed roulette in this section with a question mark because at the time of writing I am about to research several strategies that have become available to me. Until I research these methods I remain skeptical of being able to return consistent profits from this game however if one of the strategies proves effective I will place details on the book member site possibly as a free bonus for subscribers to the mailing list. Poker
Poker is the most popular casino game and has become even more so in the form of Texas Holdem poker tournaments on television. Poker is believed to have originated from the game ‘as nas’, which is a Persian game. It uses a deck of cards for a series of betting rounds. The player with the best hand wins the pot. Poker is also regarded as a game of strategy and skill. By studying and applying quality strategies and skills a player can make good profits from this game. You can find more information about how to learn these skills on the member site for this book. Access details are on the last page.
Sports betting
Sports’ betting has boomed in the gambling industry in recent years mainly because the internet has given more widespread and convenient access to betting on any sport you care to mention. Common sports bets are: against the spread, against odds, against a combination of spread and odds, and head-to-head bets just to name a few. Sports’
betting is the other area where you can make good money risk free by taking advantages of opportunities in the market. You’ll find more information on these opportunities when you visit the book member site.
Online Gambling
To Gamble Online or Not to Gamble Online - That is the Question
Compared to a real casino experience, here are some of the considerable pros and cons of online gambling:
Pros of Online Gambling
1. Hot Offers
As a competitive business, online gambling can give so much to persuade gamblers. They could offer bonuses for new customers to sign up, i.e., additional 10-50% of their initial 8
deposit to their bankroll, random deposit of money in customer accounts, and giving away vacations for particular levels of total money bet.
2. Better Rules
According to experienced online gamblers, online gambling has better rules compared to physical casinos.
3. Cozy Gambling
Of course, the online world makes online gambling another convenient way to have fun in the comfort of home.
4. Less Annoyances.
Troubles with drunken people, smokers and thieves. With online gambling these real casino troubles are avoided.
5. No Tipping Obligation.
Unlike playing in a real casino, you don't have to be obligated to tip the waiters and dealers.
Cons of Online Gambling
1. Patience is a Virtue
Cashing out can be a bit tedious with online gambling compared to real casino gambling. One may be prompted to wait for about 2-4 weeks for cashing out. With this in mind, the use of debit card is advised since with it, it is a lot faster to make your credit appear.
2. Customer Service Boo-Boos
Depending on where you play, you don't have that face to face confrontation power with the online gambling site. Some sites may offer toll-free calls and e-mail correspondence. But these are prone to delays compared to just talking to the casino manager or something to that effect.
3. Online gambling casinos call the shots.
With online gambling, the player may have to deal with the casino's word as the final word when any dispute surfaces.
4. Credit/Debit Card Overuse
Your ability to balance your credit or debit card statement might fail with online gambling because of the temptation to play at a lot of places.
5. Inaccurate transaction documentations.
Transactions don't usually have the name of the casino you played at but instead only the merchant bank is identified.
With this information, weigh the differences as to whether you prefer to do online gambling or not. As long as you don't get too hooked up on it and you're enjoying yourself, go ahead get a feel of the online world of gambling.
Online Gambling Guide to a Better Game
When gambling online, select the casino site carefully to avoid being scammed. Review the site wisely. Don't just give your credit card number to the first site you find on the net. Take the time to ask yourself these questions:
• Is the site authentic? Look if it is government licensed. If not, go locate another site.
• Does the site have a twenty four hour toll free customer service support? If not, look for other sites.
• For slot machines and pokers, what is their smallest denomination? Look for a variety in denominations. They should have nickels, quarters, dollar as well as five dollar machines.
• How many versions of video poker do they offer? They should have at least three, because this will be your basis that the site has money for the software, therefore it can afford to pay you your winnings.
• Does the casino site have a place to record and keep track of purchases and cash out?
• What about customer care? Test them. By sending them an email with a question, you can assess their customer service.
• Does this site have a good reputation? What software does it use? Know how to collect your winnings. They should have detailed information about this.
• How many days will it take for you to claim your winnings? Certain sites require you to send them email stating your request. Others give payouts only once a month, and others every two weeks.
• What are the rules about bonuses?
When gambling online, here are a few pointers that should be of help:
1. Do your homework. Play only at authentic sites.
2. Allot a budget for a day's game. Never go beyond that budget.
3. Gamble only with money that you can afford to lose. Don't gamble the money allocated for your home rental. You'll be needing help if you play this way.
4. Never mix alcohol and gambling. They simply don't work together.
5. Your data is to be protected at all times. When signing up, note that the casino should have a secure and data encrypted link. Identity theft is rampant on the internet.
6. Spend ample time reading to familiarize yourself with the game.
7. Play by statistics. Know the odds of the game. Study it by numbers. Hunches have no part in gambling.
8. Just stick to the game. Never mind the gimmicks. Side bets, insurance and the
"crapless craps" are offered in order to lure you to spend more so that the casino will make more money.
9. Know when to call it quits. If you are already winning, stop. Don't try to win more; you may end up a big loser. If you are already losing more than your allocated daily budget, stop. There is always another day.
10. Expect that you can lose the game. Casinos are in the business because they set the rules in such a way that the house's win is important. Generally, they have the edge over you.
A fact is that ninety eight percent of casino gambling is designed for recreation. Therefore, play to enjoy. To be entertained, you spend money. If it gets to a point where it is no longer fun to you, where you play beyond your means, then stop now, or else, you may not be able to stop later. Alternatively, if you’re tired of handing over your cash to casinos just to play for fun then study this book and more specific material on the member site to educate yourself on the skills and the games where you have a better chance of profiting.
The Best Gambling Spots Online
Gambling has always been akin to mentioning Las Vegas in one breath. Nowhere has gambling been as lucrative and as consuming as it is in Las Vegas. Thus, no one has called Las Vegas the gambling capital without due cause.
However, the introduction of the internet has proven that traditional gaming venues are becoming passé.
Instead of listing some of the reputable casinos here I have included them on the main page on the member site in order to ensure it remains up to date. You will get the login details at the end of the book for access.
Turbo Charge Your Betting Edge with Bonuses
Bonuses are offered by almost all casinos online. This too, enables the player to try gaming without a large initial investment. This attracts people to play at certain sites, and hopefully keep on playing. Trivias are also offered as incentives. The thing with bonuses is that if you are playing with an edge, then the bonuses help to turbo charge your returns because you are winning with money that you didn’t have to invest in the first place. By learning the strategies available from the member site you can certainly use these bonuses to turbo charge your own returns.
There are rules in bonuses or incentives. Try to familiarize yourself:
• The maximum amount that a player may win which comes with a free account is limited.
• For payouts on the amount won by a player that include free accounts will take a while to be cleared. Screening and checking of the individual's records is done meticulously.
• Free account may be withdrawn only through certain methods of payment.
• Before requesting payout, it is a must that free accounts be open for certain number of days beforehand.
Usually, you go though this process:
1. Choosing a safe and licensed casino with good payouts and offer bonuses is the right start for the amateur gambler. (This is the easy part because you can just select one from the list on the book member site)
2. Then you download the free software to start the online gambling process. 12
3. After which, you setup an account, providing all details where they can send you your winnings. So it is important that one should carefully type in all data as correctly as possible.
4. Then, you can try the different games to choose from. (Although at this point I would hope that you only have a game in mind that you have become skilled at through learning the strategies available through the member site).
5. The great part is you can practice as much as you like and when you are ready you can then play for real money. This requires payment though credit card, Western Union, Stormpay or NETeller. So choose your options well.
6. It is then time to claim your bonus. Try out whichever game you’ve decided to play.
7. Then, you can now claim your winnings! Check out your chosen casino site for details on how to claim it.
The sites listed on the member site main page all offer attractive bonuses.
Online Gambling Scams...How to Avoid Them
As the online gaming business flourishes on the internet today, so do online gambling scams. These scams are rampant.
There are many online casinos that are not "real". They look like casinos, offering games and prizes. Often many fall victim to such traps. People trust too much and are usually misled by such disguises.
Certain casino sites are a scam in itself. These sites offer pretty much the same as the authentic sites. Once you have deposited your money, you might be surprised that they have rules that prevent you from withdrawing your funds. It is always better to read and understand the rules before registering.
Bonus scams target players that have been banned or moved to other casino sites. This is the simplest and most effective of all scams. Casinos are in need of continuous flow of fund deposits from gamblers. Thus, bonuses attract players in. They do this by sending emails to prospects, stating that they are entitled to certain bonuses once they deposit money to their existing accounts.
After a deposit has been made, casinos will state that a player is not qualified to receive a bonus. Yet players still continue to play their deposits. This is what casinos are expecting to happen and they have achieved their goal.
If you do suspect that you are a victim of such a scam, do the following:
1. As soon as possible, stop making deposits.
2. If you can cash out, do it immediately.
3. Contact the site's customer care if your cash out attempt failed.
4. They should respond within forty eight hours to your inquiry. If not, contact them again.
5. If credit or debit cards were used to deposit funds, contact the establishment to inform them that you might have been a victim of internet fraud. So they could take all the necessary precautions. And as needed, cancel your credit card.
6. If you have used Neteller take out all funds left in that account.
7. If ten days have passed and still no contact was made by the casino site, contact them again. State your demand firmly.
8. The Online Players association can be of help in mediating to settle disputes between parties. Ask their assistance.
9. Wait and hope that all will be settled.
10. Report to certain web portals the incident. So this won't happen to other players.
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