The first question that springs to mind when somebody mentions gambling
and
professional in the same sentence is – can it be done? Can we actually
make a decent
living from gambling?
The true answer to this (and there are 2) is yes and no.
You will understand what I mean as you read through this book. You will
also learn
what separates the winners from the losers and the key elements that
will make you a
professional gambler.
The first point I must make very clear is the fact that there is no such
thing as a
professional gambler. The small percentage of people who do actually
make a living
through betting never actually gamble, they invest.
If you walk into a casino and start betting, you are ‘gambling’ and you
will never
make a living in a casino (not legally anyway). Gambling is when you
take a risk, and
you are always taking a risk in a casino because the odds are against
you, therefore
relying on luck to make money. If you toss a coin for a bet, you are
gambling because
the odds are 50/50 therefore either person has the same chance of
winning and you
have no advantage of knowing what the outcome maybe – heads or tails.
So how do people make a living through betting without gambling?
The successful punters make a calculated judgement on every bet they
make, they will
never bet unless they feel the odds offer good value and they never ever
bet for the
sake of it. Hence they never even think about entering a Casino!
The key to success in betting is the ability to identify value bet
situations where the
odds available are greater than the true chance of winning and then to
have the
discipline to methodically bet only when these situations arise.
Do this then all the laws of mathematics and probability dictate that in
the long term,
you will make a profit.
I have been making money through betting for a couple of years now and I
refer to
myself as a professional ‘investor’ not gambler. How many professional
Lottery
players or roulette players do you know?? They are the gamblers.
Did you know that your chances of winning the UK national lottery are
around
14 million to 1? However if you did manage to win you would probably get
nowhere
near £14 million pounds.
