How You Can Transform Your Gambling Lifestyle With Calculated Risk Taking

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How to Transform Your Gambling Life With Calculated Risk Taking

High risk is a fundamental element of gambling, business and life, but so few people know how to handle it properly. The word risk means too many people stress, and possible loss. But risk also has a beneficial part, the chance of reaching a big win, of getting more than you have put in.

There is such a thing as an intelligent risk. Those are obviously the ones where the benefit exceeds the downside.

Now we all know it's generally a bad idea to take foolish risks, where your predicted result is negative and the possible benefit is very low. But it's ridiculous to avoid a brilliant risk, where your predicted result is high and the downside very limited.

My worst-case risk for trying a new system or method in horse racing is that I'll waste about four hours of time, I'll lose a few races and little bit of money, and I'll learn something new.

But what exactly is the best outcome? The best result is huge. I might fall upon a new system that completely increases my winners and gambling income. And in that situation my only investment was a few hours of time.

Most of us are very good at not taking silly risks, but we're extremely bad at taking wise risks. The most foolish mistake is to not take any risks at all.

The key to intelligent risk-taking is to look far enough forward. When considering financial and personal development, I do not just think a month forward or five years forward. I think across the period of my whole life-time. I ask myself, "What advantage might this give me over the period of the next several decades?" Over that timespan even small changes you might make this week can make large long-term advantages. Doing nothing is way, way more negative.

The thing that keeps me from getting frustrated when bad losing runs or other problems happen at the present time is to keep considering long-term goals. I may be having a lot of failures now but I know I need to make many mistakes to hit the next big breakthrough. So I just steam roller through those problems as quick as possible.

Do NOT quit during the losing runs!

Going through losing runs is the toughest time for many gamblers because you are putting in effort and getting very little to back for it. Just accept that that's life and allow yourself permission to work tirelessly and have little to show for it, provided that you wisely keep a long term perspective.

Find a well thought out risk you can take this week. Most likely it will not pan out. But what if it does? Enjoy taking the risk either way because regardless of what the result, you will gain long term knowledge just by making the effort.

Paul Coleman is a keen horse racing follower who specializes in UK racing.

If you would like to get my selections or just more information......

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Football Betting Systems That Work For The Win-Draw-Win Market

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The most well-known way to bet on soccer is on the overall win-draw-win market. This gambling market allows you to bet on a home win, away win or draw

In almost every match you will get one team preferred to win and the other team will be the outsider with the draw possibility somewhere in between. Although some punters say bookies are never incorrect, sometimes they keep the odds too short strong favourite, making the value bet in the draw or the other team to win

The best example of this is when the superior team are playing at home. You will consistently see a strong team well under-priced on the betting odds and this result in the value being in the away team to win or the match to end in a draw at more eye-catching odds. Using this soccer gambling method also performs well if you are looking at accumulator wagers, our guidance would be not to put any short odds away teams in any type of multiple accumulator type wager. Despite them being the more powerful side a look at their opponents is the key and there are certainly some teams where the bigger sides such as Man United do not like to perform. Some bogy teams are Everton, Fulham and Sunderland.

When the classier sides are playing at home you will often see some very unappealing odds e.g. 1/3, 1/4 or smaller. These prices are no good to the average gambler (betting 4 to get a comeback of 5 is hardly a fool-proof system) and in this example choosing a number of odds-on home teams for an accumulator could be the better gambling system although the more teams you select the larger the risk.

Lastly you could look at a gambling method around the bookies draw market. When two sides are about the same quality you will often find short odds for the draw (around 2/1) and these are probably best avoided. If the best team is playing away from home the odds for the tied match could be anything over 5/2, providing a decent price and the value selection to bet on.

The key with gambling on the win-draw-win market is that you have good information of the two sides. Information to check would be injuries to key players or any managerial changes. Also check the previous meetings between the two teams and of course the recent home and away form of both teams.

If you adhere to these simple guidelines then gambling on the home, away win or draw market could make your soccer gambling profitable.

Paul Coleman runs a free football email tipping service and newsletter. You can find out more information or join at: http://www.footballtipsfree.com

 

Why Specialising in Horse Racing Can Be The Key To Success

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When I go into my regional bookies there are some frequent gamblers I can almost be assured they will always bet there. They will take a quick look at the racing post tipsters, make out a quick betting slip and place another bet. They will do this one race after another either until the bookies shuts or they run out of cash. Usually they run out of cash.

These days there are that many race meetings, with perhaps four of five meetings in a normal week day there could only be 5 or 10 minutes between each event. Such a brief period hardly gives them time to research the form of even the first three in the betting forecast. So they would probably do just as well using a pin to choose their bets

The sensible gambler knows that you cannot and should not bet in every event. Actually if you want to enhance your possibilities of becoming a frequent victorious punter it can pay to specialise in just one area.

In other terms become a professional in some particular area of horseracing and this could offer you the advantage that you need to become a frequent winning gambler.

In the UK there are 3 different kinds of horseracing, all of which are now have almost all year round events. They are Jumps Racing, Flat and All-weather racing. A few horses switch from one type of racing to another but most just stick to one discipline.
It is also possible to narrow this down even further. In flat racing you can focus on 2 year old maiden's only or classy handicap races. This would provide you with the opportunity not only to research the form of the horses but also understand something about the trainers as well. Which ones are likely to deliver a 2 year old out for its first competition willing to win and which like their horses to have an easy first run to get used to horse racing.

In Jumps racing you can have chase's, hurdles and national hunt flat races , Again it can pay to choose one area . For example there are some trainers who have really excellent form in the national hunt flat competitions and it can pay to stick with them.

Select an element of racing that you have a passion for, understand as much as you can about it, learn from the outcomes and keep useful information. It is not only going to provide you an advantage of the punters in your local bookmakers, it will also offer you an advantage over the bookie as well.

So to summarise, in order to generate some great earnings within horse racing is beneficial to focus on a certain specialised market. The general mug gamblers will often bet on every race. They are going to follow expert's viewpoints, paper tips, telephone tipsters, racing papers tips, all in the hope to generate earnings quickly.

There's no such thing as fast cash from gambling and it takes work to generate a maintainable income from betting. By generating a market for you to focus on is probably one the most useful steps. Once you've perfected a particular market, there is no reason that you must not then decide to move on to another if you can handle the time to analyse two or maybe three at once

Paul Coleman is a keen horse racing follower who specializes in UK racing.

You can get my free selections by visiting http://www.racing-expert.co.uk 

How To Use A Portfolio Of Horse Racing Systems For Betting Success

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How To Use A Portfolio Of Systems

 

Back in 2003, I developed the idea of using a portfolio of horse racing systems - essentially several systems into one package.

When following systems you should never rely on just one or two golden geese to lay golden eggs. It is far better to treat horse racing systems like trading on the stock market and keep a portfolio of diverse systems.

It will take you time to develop a good portfolio, but a good place to start is with your own methods and systems. If you can read form, and understand the concept of value, then you can develop your own methods of making good selections.

When creating your portfolio you need to spend time testing different systems and strategies until you find the ones that make a profit. You are looking for around 10-12 different methods.

After you have your systems then paper-trade the methods for at least three months to test their profitability. This means you should follow a method or tipster or system for three months to see if theoretically you would have made a profit.

Once you are happy with the performance of a particular method then proceed to award it a place in your portfolio, and start trading with actual cash.
The reason for this portfolio approach is to mirror what many stock market traders have done for many years in the City, which essentially spreads the risk.

We all have seen successful racing systems go through bad runs, and this approach is designed to account for a system or systems that are going through a difficult, losing spell - the other systems will then balance out most of the results.

This is ideal if you want a smoother ride with your betting and do not want too major ups and downs with your wagers..

The portfolio approach should give punters this smoother ride with shorter losing runs.

My idea therefore was to find several systems that would potentially produce a fair profit on a yearly basis.

The aim was to eventually have between 10 and 12 systems to put into the portfolio and i have now achieved this.

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The Correct Gambling Mind Set Strategies From The Professionals

Horse Racing Guide To Choosing A Reliable Tipster Service

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Have you ever considered how horseracing tipsters can estimate the winners of races better than most punters who bet using their own methods?

Well when most tipsters start out they are pretty much the same as other average gamblers, being interested and often disappointed in trying to choose the horse that will win a race.

What drives them into the higher ranks and distinguishes them from your normal gambler? It is the experience and the information that they will have obtained after many years of being interested and engaged in horseracing.

From my perspective it was many years studying other professional's techniques and actually visiting racetracks that established my expertise. The problems occur of course when you have to sort out the knowledgeable informed and therefore more efficient tipsters, from the not so knowledgeable and efficient ones.

When you seek advice from a racing tipster or advisory service, the fact is that you're using their expertise and experience of being able to recognize which animals can't win and which could win, and in many situations there are definitely horses that cannot win.

I once questioned one of the well-known horse racing advisory services in the UK, although for self-evident factors I will not give you their name. He is regarded one of the top individuals in the tipping game and seems to be on both TV and radio stations.

He exposed during the interview that he became enthusiastic about horseracing from a very youthful age, and used to journey to race meetings with his mates. Having seen some racing and backing a few winners he felt immediately connected, and that's how he got into the scene.

One factor is certain, no matter what type of racing assistance you use there is never going to be such a factor as a sure-fire bet, but should you discover horses with winning credentials at value prices which improve your possibilities of choosing successful selections considerably, that is for sure. The key is how do you look for these value ones? I'll now describe some of factors to look at out for.

Reliable Racing Tipsters - What You Should Look For.

The first factor I recommend individuals to do is get in touch with their potential tipster. I know this may be obvious and almost elementary; however it is an excellent way to begin developing a relationship with them.

A few email messages to begin with should suffice; ask about their racing background and achievements. Try to identify the length of time they have been offering selections and advice to punters and how they got into the racing game. Do they focus on UK or worldwide racing or both?

Ask them how effective their strike rate is. Anyone who states they have never had any losing runs can be removed from your records immediately, as can the tipsters who declare to be able to create you wealthy instantaneously with a strike rate of 90%.

If they are asking for a registration or one off fee for their advice then ask them if they can provide you a trial period of say one month of their selections. If they're authentic and they're eager to improve their client base, then they ought to assist you in testing their horseracing tips.

Once again, anyone who comes across as hesitant to do so, or difficult, to deal with should be dropped. Furthermore, you are certain to begin developing a viewpoint of them after a while and your gut reaction may well tell you that they are not reliable.

Should you trust your gut instinct? This is difficult as you're never certain to know whether you've chosen the right option, until you've subscribed to a tipster. It is important to test a service for free, and then at least you're not losing cash to find out that the tipster service you've selected is not appropriate for you.

It is a combination of interrogation and a bit of gut reaction tossed in, but seriously this is simpler than you think. By asking particular questions, some of which I have outlined in the following article, you will be able evaluate the better tipsters from the weaker ones.

As you ask more questions and begin to get a connection with a tipster, you should then begin to think whether or not you feel this is right, and whether he can be reliable to provide you with some value winning selections consistently.

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