Betting your money is a business and a hobby, depending on where you go and what you bet on. There are great pitfalls that can leave you financially ruined and if you’re good at it you can walk away from the betting table with a pocket full of cash.
It’s a rough game no matter which game or sport you’re placing money on. For the uninitiated, betting is full of unknowns and variables that make gambling seem like the ultimate equalizer, but the dirty secret of it all is that it is definitely not any such thing. Professionals understand not only how to hedge the bets in their favor, but the ones who are truly experts at the game rarely loose in the long run and can reliably walk away with cash. The following advice is a series of betting tips that can get you started on betting so you can gamble in a smart way. This won’t get you to be an expert, so listen up and pay attention.
First of all, you need to know how to manage your money. Nobody gambles everything they have because betting is a lot like buying stock. If you put all your eggs in one basket, you could end up with nothing even when you’re fully certain of a win. It’s better to have smaller gains over time than loose everything.
Second of all, don’t bet or gamble while inebriated. Smart betting requires you to be fully capable of good judgement. If you’re drunk, high, or otherwise chemically unable to make good judgement calls, you’re going to loose money due to stupid decisions.
Third, you need to know your game and understand it thoroughly. People who bet on sports, card games, or whatever make their money because they understand it inside and out. This goes beyond the typical understanding of a fan or enthusiast. If you’re betting on sports, you should know the teams, the players, the managers, the coach, and all of the same of the opposing team. All information is valuable and the more you know and understand your sport, the more likely you can make an informed decision. If it’s a game like poker, twenty one, or something of that nature, you need to perfectly understand the rules of the game, the people playing the game, and either you or the person you’re betting on need to be good at playing the game. This also ties in with another point…
Forth, you need to understand probability and probabilistic outcomes. That’s not really the only kind of math you should be good at, but it makes up a generous portion of what you need to understand regardless of what you’re betting money on and what game or sport is involved. The people who play poker and blackjack who always walk away with money are the people who are best at math and using it to win. Even if you’re not a math wiz, understanding probability and statistics and knowing how to use it to your benefit will be your greatest ally in getting money into your pockets.
Fifth, you need to do research. This is particularly important for betting in sports because even a keen understanding of math and the sport you like to bet on isn’t necessarily going to give you the best chance for success. Conditions and recent events can skew the probabilities of success. Is your team playing on their home turf? Is one of their lesser known but capable players suffering from a drug addiction? Is the coach being brought up on charges of fraud or domestic abuse? Did the team come under new management and now practice more often? Keeping up with your teams, player, driver, or whatever of any sport is vital in determining their chances of success and it’s something you should always keep vigilant on because they can affect the outcome of a particular bet.
Sixth, you or your proxy need to practice your game and stay competitive. This is the gambling version of the fifth point where you won’t necessarily have to do research on your opponents, but instead the player you bet on or you yourself if you’re the player need to make sure that your skills and the application of those skills remain competitive. Even the top card counters work on their skills obsessively in order to stay ahead of the game.
This is the lucky seventh point. You should always understand that even the best people in the game sometimes still loose. Just like with the first point, you should never be so confident that you bet everything on a particular play because there’s always the chance, even for the people who work to rig the game in their favor that they’ll loose. So you should always understand that there is always the possibility that you’ll walk away from a particular bet with nothing to show for it.
Thank you for your time and patience. Those were my seven betting tips, so try to take them to heart and you might just end up a winner. Take care and don’t do anything illegal.