How to Profit From Sports Gambling

The goal for sports punters is to earn a profit whilst enjoying our favourite sport. The sad truth is that for the majority of gamblers, this is an elusive dream. However by developing and carefully following a stratagem anyone can make this dream a reality.

There are two factors to consider to profit from sports gambling:

  • Bet Selection
  • Staking Plan

Bet Selection

The first, Bet Selection, is obvious – we need to back winners at least some of the time. Let’s consider Horse Racing, anecdotally there are many professional punters who earn a comfortable living from picking horses, but the key word here is professional. Research and analysis of each horse in the 59 racecourses across the UK takes a sizeable amount of time and experience. If you want to be successful then it’s a full time job! For the majority of us this means we have to use the advice of experts to do some of the legwork for us.

Horse Racing Tipsters

UK horse racing has no end of self-proclaimed “experts” on the Internet charging up to £100 per month. When selecting a horse racing tipster the most important factor we need to consider is long term results.

The Internet is awash with tipsters who have had one good month but then go on to post a loss for the next six – but you will only see this one month on their home page! Never follow any tips without first checking the tipster’s full result history. Choose a tipster who publishes all their horse racing tips history, ideally where the results of the tips are published the next day along with a complete history of all their tips.

Take a look at a Tipster Proofing site such as Racing-Index who grades the results for a number of tipsters. Consider which tipster gives you gave for money and fits with your own betting profile – can you actually place the 100s of tips each month some tipsters require?

Following tipsters alone is not likely to earn us riches – the best tipsters are locked out for new members or charge such high rates that any profits are lost immediately. The solution is to develop our own system using tips from expert sources combined with our own research. This is the strategy successfully used in greyhound racing by followers of the site. As with most things; the more you put into your system the more you will get out.

Staking Plan

Once we have a betting strategy in place it is time to look at a staking plan. The simplest is Fixed or Level Stakes where we simply bet the same amount, for instance 2% of our initial betting bank, each time on our selected horse, however we would want to increase our wagers as our betting bank grows. This leads to Percentage Staking where a percentage of the current betting bank is wagered each time. This means as we win our stakes are larger and conversely the stakes shrink when the betting bank decreases.

However, intuitively we know these staking plans to be overly naive as we would be putting the same amount of money on a horse with low odds compared to a horse with high odds. As we are looking to maximise our profits we should be putting a larger stake on a low odds bet as the return will be less.

To find the optimal staking plan we could take a correspondence course in statistics and dedicate several years into research. Fortunately we live in age where this research is at our fingertips. From probability theory we have the Kelly Strategy where the optimal percentage of our betting bank is calculated from the odds of the bet and our own estimate of the probability of the horse winning.

Using an online Kelly Strategy Calculator just feed in the values to get the percentage of the betting bank to put on each horse. Now the Kelly Strategy can give us some scary percentage stakes if we have an initial run of high odds horses so we could adapt it to a Half Kelly Staking Plan where we wager half the percentage advised by the Kelly Strategy. This would result in a slower accumulation of gambling profits but a less hair-raising ride.

The most important sports gambling advice to heed is only bet with funds you can afford to lose. Always gamble responsibly – if you feel you need help and advice with problem gambling visit http://www.gambleaware.co.uk.

The Day I Decided To Stop Gambling With Gamblers Anonymous

Everything was going perfect for me in life. Good job, good home, good life and good friends. Until one day some friends asked if I wanted to go to the casino. By the time I realized it, three years of my life were gone and I was in debt. It was time to quit.

The day I decided to stop gambling I was depressed and relieved at the same time. I couldn’t go on any longer. I thought all my hopes and dreams were shattered. I couldn’t tell anybody what I was going through. I was afraid that they would be disappointed in me. I remember the first day. I was nervous and anxious. I had a hard time focusing at work. This was not my first time trying to quit. I was sure I really wanted to quit, but wasn’t sure if I could quit.

The day I decided to quit I had no where to turn. I found it was difficult to talk to my family and friends about my problem. I began to do research and found Gamblers Anonymous. I wanted to give Gamblers Anonymous a try. I happened to have met a lot of nice people there. They welcomed me into the group and made me feel comfortable. I had tears coming down my face and my anxiety kicked in. I was very quiet buy my emotions were running wild inside. I made it through my first meeting and was somewhat looking forward to the next one. As each week passed new members would join and others would disappear. This became a weekly event. Who was going to come back and who was going to stay?

I continued to go to my Gamblers Anonymous meeting on a weekly basis. I was always afraid some one would recognize me. The turn over was extraordinary. Each week as I entered the meeting my heart began to race until I was sure I didn’t know any of the new members. It was the tenth week and an old co-worker of mine walked through the doors. We hadn’t worked together for over ten years. I thought about leaving but I decided to stay and try and work it out. Unfortunately he did not keep the Gamblers Anonymous code. He had told a friend who told another friend until it got back to me. It was unfortunate, but I dealt with it and moved on.

I and others unfortunately had other situations occur that were not very positive for us at Gamblers Anonymous. I still thank them for putting me on the road to recovery. From the first time I entered Gamblers Anonymous and followed up with the website I Stopped Gambling So Can You http://www.istoppedgambling.com/

I believe I am on the road to recovery. I take one day at a time and allow myself the option to gamble or not to gamble. This helped me to take control of my life. By allowing myself to make the choice the amount of stress on me has been significantly reduced.

A month after I stopped going to Gamblers Anonymous meetings, I ran into one of the members. He was curious at how I was doing and asked me if I would be there next week? I told him I would try and make the meeting. I popped in a few times more to tell them how I was doing. They were all glad to see me, but I wasn’t in compliance with the rules of Gamblers Anonymous, so I decided not to go back. In this particular group I attended, they have rules that do not allow a member to comment during therapy if they did not attend four consecutive weekly meetings. I respected their rules but realized it was time to move on. I told the group and thanked them very much for putting me in the right direction and left.

After this experience I created a website that would allow people to be themselves as they recover. This site is also the closest to anonymous you can get. There you will also find a private stop gambling chat room and a self help manual to help gamblers stop compulsive gambling addiction. The website is I Stopped Gambling So Can You http://www.istoppedgambling.com/.

My experience from Gamblers Anonymous meetings to now has helped me to stop gambling. I stopped so can you!

Types Of Gambling Services

The gambling industry rakes in billions of dollars every year and provides millions of job opportunities. Although criticized by some quarters that say it promotes corruption at different levels, crime and compulsive gambling, it nevertheless has importance when money needs to be raised for certain services without increasing tax.

There are many types of gambling, not all legal. Some are public and others private.

Lottery

Lotteries are based on chance where players purchase sets of numbers in the hope that they match draws. Depending on the stakes, winners can take home millions of dollars or be awarded with lesser prizes like cars and electronics.

Players buy several sets of numbers to increase chances of winning which are always slim. Still, the desire to win compels many to continue purchasing tickets. A report in 2011 recorded global lottery sales of around $262 billion.

Slot machine

Slot machines are also a game of chance. A player inserts money into the machine and uses a lever or a button to spin reels. If the combination pictures or numbers are identical, the player wins. Like most gambling/casino machines, slot machines are designed such that the odds of winning are slim. This brings in money for the house while compelling players to accept the challenge.

Bingo

Bingo is a game that sees players ticking off numbers on a card called out by a caller. Whoever has the series of numbers on the card wins. The numbers called out are completely random and the game requires players to pay attention as if a player has the number on his card but fails to mark it, he loses his chance of winning.

Blackjack

Blackjack is a card game frequently played in casinos. The game itself is quite simple but can cause players to chance taking more cards and seeing them lose. Players are dealt a card each turn and the value of the cards are added up to as close to 21 as possible. If a player totals 18 and his opponent scores 17, the first player wins. However, in the quest to getting to the sum of 21, players sometimes keep taking other cards to total more than 21. In this case, the player who exceeds the number loses and his opponent wins.

Roulette

Roulette is another popular casino game that sees players betting on where a ball lands. The host spins a wheel as the players bet on which numbered hole they think the ball will land on. They may also bet on a string of numbers that add up to even or odd numbers. Whoever guesses right, wins.

Scratchcards

Scratchcards are cards on which are printed numbers or symbols hidden beneath a covering that can be scratched by a coin or hard object. The results are declared on television, radio or newspapers. The buyer who has the right number/series of numbers or symbols wins.

Most scratchcard contests offer less valuable prizes although the odds of winning are greater than in slot machines and other types of gambling.

Poker

Poker is a very popular card game played between two or more people. They’re given two cards each with three laid face down on a table. Bets are placed on the value of the cards. The player having the highest hand wins taking into account not only the cards in hand but on the table.

Gambling Addiction Basics

The coming age has brought with it numerous new pathological addictions, one of them being addiction to gambling. Pathological gambling was conferred with the status of a disease by the American Psychiatric Association back in 1980s. Robert L. Custer, M.D., is a pioneer in this field of problem gambling.

People who fall prey to this addiction are usually those who secure an income by means of blackjack, poker or other gambling activities. They are professional players who visit casinos not for fun sake, but to employ their skills and earn.

Based on their way of playing and the driving force behind it, gamblers can be categorized. For example, while professional gamblers are skillful and good in their game a casual gamblers plays merely for recreation.

The symptoms of gambling addiction are usually hard to identify. Since this disease is different from other substance related addictions like drug or alcohol abuse, the indications of this sickness are subtle. The nearest possible way in which the symptoms of this addiction can be stated is through the “Custer three Phase Model”. According tot his model, the gambling addiction can be characterized by three phases: the wining phase, the losing phase and the desperation phase.

In the wining stage, the compulsive gambler is ecstatic and overexcited with this earnings and is unwilling to quit gambling. Therefore, the addict usually increases his intensity of gambling . However, losing being the other half of gambling, his wining streak is short-lived. Nonetheless, recurrent losses do not deter him as he wants to win again and get his money back. Addicted gamblers suffer from financial stress, loss of sleep, and mental fatigue in this phase. They face problems at the family front. The patient also tends to borrow huge amounts or avail some money making schemes. As the gambler continues to face loss on every alternate day, he finds it difficult to stay away from gambling. Compulsive gamblers may resort to any means to raise funds for their obsession. They become desperate, with their debts becoming unmanageable. Loss of jobs, fight with friends and family, committing crimes or suicidal tendencies define this phase.

The question as to why does one gamble, can not be answered in definitive terms. One of the dominant reasons is the mental health of the gambler. For some people gambling serves as a n escape route from their lives. A compulsive gambler plays for kicks. He is just unable to stay away from it. Many researchers also blame the easy accessibility to casinos. The government and its lottery fund is also widely condemned.

Treatment programs and centers exist to treat this disease. Regular therapy and counseling is an effective and a widely used technique to cure this disease. Various support groups have also cropped up, where the addicts share their experiences and strengthen each others desire to quit gambling. Some groups that fund such programs include casinos and state lotteries. Some casinos lay stress on responsible gambling and have taken steps to make the people aware about his addiction.

However the first step, before undertaking nay treatment would be to acknowledge this disease. With very slight symptoms and effects this addiction is difficult to catch and acknowledge. Hence it helps to be aware to act wisely.