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Greed And Gambling

Here's a few thoughts you may like to consider as you continue your pursuit of dollars from gambling on horse racing. You are free to agree, disagree or think more about and reflect on how the points raised may relate to your own gambling patterns and is there any point in trying to change. Or are you happy losing week after week?

1. Success in gambling absolutely requires that a punter loses from time to time. It is a necessity. The trick is in losing less times than you win. Greedy people and gambling have a rocky relationship right from the word go. If you can spend 6 hours on a Saturday, using a consistent methodology, winning $120 (or $20 an hour) what should your next goal be? I'd suggest to be moving ahead you should be concentrating on trying to win $150 (or $25 an hour) using the SAME methodology. Greedy people, who have little self control, will immediately be trying to ramp up that winning amount to $500 with little consideration for the risk involved.

Some people walk in to a TAB and try to win even the carpet off the floor or the entire contents of the cash draws. Here's a clue. The TAB will NEVER run out of cash, no matter how hard you try and, even if the franchisee was allowed to gamble the carpet, they'd have new stuff laid first thing tomorrow before they opened the doors to welcome you back. And here's the rub - they would GENUINELY welcome you back. Greedy people want every dollar that's in the game. They are not prepared to share and they'll chase every dollar down every street until they find it - even though, of course, it is all illusory. If you want every dollar it means you are inviting competition from everyone else and if the battle ground is you against the world, I'll back the world every day - without fear.

If you bet with bookmakers, again, they will NEVER run out of money unless they too are greedy.

2. Greedy punters have no idea how to lose, and remember, you MUST lose some of the time or the game is finished. Greedy punters always lose in a sea of calamity. Read that again because it is an important point to ponder. Greedy punters always lose in a sea of calamity. When you lose, you have to lose in such a way that the loss position is not irrecoverable using the same controlled staking plan you have embraced and not plunging in to a long trail of disastrous "catch up" bets that quickly spiral out of control. Now think about it. Do YOU always lose in a calamity? Are there always irrational reasons and circumstances that are to "blame"for your losing? Is it always someone else's fault?

Losing sensibly when you must lose is the key to winning. You can't win big if you are also losing big. Think about it. The maths are all wrong if you are starting with negative percentages and you must be - even if it is only the TAB's takeout percentage.

If you enjoy the punt BUT find it impossible to just lose 20% of your bank and feel that if you are going to go down you'll go down with all guns blazing and lose every cent you have or can borrow from others or get out of your Visa Card, please send me that bank now before you start because you are going to lose it all anyway and I would put it to far better use than you. If you want to throw it way give it to me.

3. Greed and ego go hand in hand. Now there's nothing wrong with having a healthy ego. In fact if you don't have an ego, you probably have way more problems than we are alluding to here. But when greed overcomes a sensible ego there is no way of satisfying it. You will always be increasing your staking level way past the comfort zone that we have written about in other parts of this site. You will never win because the game never finishes. There is no last race. Greedy people will be starting their day betting on the 3rd from Auckland and still be there at midnight punting on the Pinjarra dogs in WA and then having a snooze for twenty minutes till the first from South Africa opens. Having the goal to being one of the world's big winners is fine - trying to be the world's only winner is an unmitigated disaster.

4. Yes, fortune does favour the bold BUT the saying has never been fortune favours the greedy. Just divorce yourself from the gambling world for a moment and think about all the figures in world history that wanted the lot. They all ended up with nothing because they never learned the art of sharing. Wanting everything is without doubt the quickest way of ending up with two fifths of three quarters of sweet fanny adams. So go for it and get your share. Knock yourself out trying to make it a bigger share. But make sure you also know how to share.


Greed is variously described as

a. Excessively desirous of acquiring or possessing, especially wishing to possess more than what one needs or deserves.
b . Wanting to eat or drink more than one can reasonably consume; gluttonous.
c . Extremely eager or desirous

5. Be content with winning small on your way to larger gains. It is handy to realise that a small win has possibly negated a large loss and you are way in front. The percentages will always be against you in gambling which is why it is called gambling. Winning small on a regular basis, using a methodology that slightly turns the odds in your favour, is the only approach you should be concentrating on. Forget the stories about people scoring a million plus with a keno system 15 ticket. That stuff always happens to other people and will likely to continue to do so.

6. Control your greed. Learn to share. Help others. Those are the three best "tips" you'll get today. What you do with them is entirely up to you.

© 2011

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