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Patience In Gambling Pays Dividends

Patience

No matter how good your selection method is, no matter how much time you spend being ever so careful and looking at every possible angle, betting losses are going to happen. That's just a fact of the game - things happen. Things don't go as planned and it is really frustrating.

Like in poker terminology, "bad beats" are a regular occurrence and cannot be avoided. Read that again - CANNOT be avoided. It's what then happens when you have those "bad beats" that makes all the difference in deciding whether you will be a long term winner or just another punter - contributing to the pool.

Sadly, over 90% of gamblers will react in EXACTLY the same way after a "bad beat" - off they go on a gambling binge, all caution thrown to the wind, trying to chase what they believe was wrongly "stolen" from them and trying to recoup what they believe they rightly had - but of course they never did.

Just like in poker, punters will go "on tilt" after they've seen their pocket aces which they mange to "trip" get beaten by a four card flush buy. It just ain't fair and so they start playing bad pairs or non pairs in a desperate bid to regain that pot they "should have won". In reality, they were never entitled to win that pot but, hey, try telling that to people when they're on that binge. It's like standing between some of the contestants on Australia's Biggest Loser and a bowl of rocky road chocolate drowning in cream and ice cream.

The end result when punters go "on tilt" is that, not only do they lose what they did in that "stiff" bet, but they then end up losing even more that they would have had they been able to exercise self control and patience.

In this 24/7 world where we are always "connected", patience is not a common commodity. If you're not available instantly on your mobile phone to anyone who wants to beat your brow about something they believe is important, you are the worst in the world. "Mongrel never has his phone on!"

I can't begin to tell you the number of times I've had emails from people that start off " I emailed you at least ten minutes ago and you haven't replied........". Yeah? Wow. How cool. Maybe I had something else to do? Like bet myself? Play with the grand kids? Go to the loo?

Patience in gambling has to be your long suit. Impatience is the shortest route to the poor house.

To succeed in punting I believe you really have to have the "patience of Job". You have to practise and learn from whatever approach you are taking. Learn from the mistakes.

You are lost until you come to that magic "who turned on the light?" moment when you can accept that gambling will occasionally deliver terrific highs and profits to you. Equally, there occasionally will be dreadful losses - probably with almost the same regularity. Both results are the normal extremes of what you are trying to achieve from racing - the art is to exercise more patience and marginally better skills than those you are punting against. People like me. Because, be under no illusion, I'm trying to do that to you.

The patience you HAVE to develop and practise, is knowing how much you can realistically expect to win, if things go your way, from whatever bank you choose to play with. It is very rare to start off the day with $100 in your bank and finish the day with $1000. Yet many punters believe it can be done every day of the week and then blame their lack of success in that venture on those "bad beats". Ah, if only Kingston Town had won that Melbourne Cup eh? If only Gurners Lane hadn't have knocked five down at the turn to get a run to win by a lip.....

If you could increase that $100 bank by 10% rather than 1000%, a more realistic aspiration, your daily bank totals would read like this - 100, 110, 121, 132, 155, 170, 187, 206. In 8 days, you could double your money. How long would it take you to do that with your super saver account at Westpac? How many years? Okay then, what about if you tried to make just 1% a day? 100,101,102,103, 104, 105, 106.50..... in seven days, at just ONE percent per day, you've made more interest than I can get investing fixed rate term deposit for 7 months.

To win consistently more than you lose requires a selection strategy and investment strategy that you are comfortable with and on that plays to your strength - your patience. Put that act together and your success rate will soar. It will seem to be happening on its own to outsiders. You'll understand why and, yes, at that stage, you are allowed a little self congratulation time. Just like bread won't rise without yeast or sugar, patience is obviously not the only ingredient to punting success.

Try throwing courage, ambition, discipline and, above all, ENJOYMENT in to the mix with your serving of patience and you just may be getting close.

By exercising patience and discipline, you will end up in front over the long term if your selection strategy is sound. If you can clearly identify 19 winning opportunities in a day bet 19 times. If, according to your selection criteria, you can only find one sound betting opportunity in a day, BET ONCE only. Unless of course you're just filling in time. And contributing.

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