| |
| |
|
Casino & Gambling Information |
|
|
|
There Is No Such Thing As The Gambling Olympics!
I often become bewildered when I hear of people bragging, because they have high strike rates and/or high profit-on-turnover figures (POT). You know the 'my strike rate on the Soccer is 73%' or 'my POT on the gallops is 90%'. Yes, OK, congratulations. Give yourself a pat on the back; you are making money. Well, actually, if your strike rate on the Soccer was 73%, this certainly does not guarantee that you are showing a profit. After all, the goal is to back plenty of winners, isn't it? Well, yes and no. Is the goal to simply make money, or is it to make as much money as we can, given our current resources (time, starting bank, knowledge, etc.)? I realize that it sounds like I am being a little greedy, but come on, admit it, we all want great, big, fat, consistent profits from our betting, don't we? I truly believe, that many punters think, that this punting game is a competition, where plaques, certificates and smiley faces are awarded to those with the best win strike rates and profit on turnover figures. Yes, before you wipe your writing pad out to type me a letter of disgust at my arrogance, I admit that I am being a little hard-lined on this one. I mean, really, WHO CARES if you have a POT of 30%, 60% or even more? WHO CARES how many winning teams you backed, or how many horses you backed, which were first past the post? It seems to me, that many punters seem to turn a blind eye to one and only real measure of how well you performed . . . How Much Money Did You Make? Maybe I am the odd one out, but every time I hear somebody spruiking, that they make an excessive POT of say 20% or more, the first thought that pops into my head is certainly not, 'Gee, that bloke really must know what he is doing, what a legend!', but more along the lines of; How Much Money COULD He Have Made? If you achieve high POT figures, you are telling me three things: 1. You have had, maybe, a couple of dozen bets at most, 2. You are way too selective with your selections, but most importantly, 3. You are not making as much money as you could be. Whenever I try to explain this to a punter down at the pub, they think I am totally insane. "What Do You Bloody Mean That I Could Be Doing Better? You Tell Me How Many Other Punters Can Achieve 90% POT?" Generally, that is what I hear, when I open my mouth about this subject. Look, missing a good bet is as bad as making a bad bet. There is little excuse for either. We all do both, but hopefully we don't make that same mistakes twice. For those who disagree, I ask the following: Tell me why I should turn my back on a positive expectation bet, regardless of the return? Maybe I should not make the bet, because I may damage my strike rate, or may lower my POT, and as a result, won't sound as good when I brag to my mates. RUBBISH! There is no such thing as the gambling Olympics; you are not going to get an award for having the best POT figures or strike rates. I shall repeat this once more. The Aim Of The Game Is To MAKE MONEY. If you are achieving an average return on each bet of more than 20% or 30%, I believe you need to rework your approach, and do a little work to get that POT back down a little by making the smaller positive expectation bets. Yes, bring your POT down! How many good bets do you think you are missing, if you wait all year, and make only 12 bets, but you have 80% POT? You are making money on those 12 bets only. OK, fair enough, you may make those bets quite large in relation to your bankroll, but bear in mind, you may be able to make two, three, ten or even more times the amount you are making now by taking those smaller edges. The article . . .'The difference between your edge and your expectation'at www.puntingace.com follows on from this concept. Reading this one article may make $1,000's of dollars of difference to your bottom line over the course of a year. Remember, it is not how many winners you back, but how much money you make. Leave the bragging and high turnover figures to the 'heroes'. Australians Matt Elliott and Jess Kirley of http://www.puntingace.com , have been investing together professionally on sports for over 3 years now. They take a very mathematical approach to their betting, and liken it more trading a commosity like stocks than actual gambling. They continue to lead the industry with innovative approaches to sports betting and their reputation among their peers is a testinmony to that. Visit http://www.puntingace.com to discover how you too can turn your hobby of betting into a profitable endeavour.
MORE RESOURCES:
Casino-Gambling - Google News |
|
|
|
RELATED ARTICLES
Three Card Poker Betting A player must be aware of how to place bets in three card poker. The playing area both live and online will have three areas where you place bets. The Secrets of the Outside Numbers Pssst.. Craps There is no longer a need to fly all the way out to Las Vegas or Atlantic City to play craps. In fact, you can play your favorite casino games, including craps in the comfort of your home. The Adventure for Poker Gold From the drama TILT made by ESPN to the deal Chris Moneymaker signed with Death Row Records to create Moneymaker Gaming, business continues to create strange bedfellows. Everyone seems to be trying to find the pot of gold at the end of the poker rainbow. Poker Table Position Poker seating and the position one has at the table is one of the most important and least talked about aspects of poker. It's especially relative to the Texas Hold'Em poker game because it is positional in nature. After the Flop After the flop, your hand is pretty much defined. Before the flop, you have seen only 2 cards out of the total 7 cards that will eventually be in play. What Your Poker Table Says About Your Personality Who does not have tables at home? Such a queer thing to ask. But in fact of all the tables in a home which one can give you the pleasure of enjoying as if you were in a casino. Poker Face in Cyberspace His palms are sweaty and his heart is racing, but he smiles when he sees his cards."I can't lose this one", he says, with a big grin on his face. A Teenagers Vegas Vacation This, a true story about a Vegas vacation involving casino gambling and.. International Gambling 101- What You Absolutely Need to Know All of us are familiar with what does gambling stand for. But the fact is that gambling is not just of one kind. Poker Fever Big blind with my jack-three off suit, I found myself able to see a free flop as the action was checked back to me. Typically, jack-three off suit is a hand I, or any other poker player with the slightest knowledge of the game would not even look twice at, but when the flop of communal cards comes out jack-eight-three, it is a very pleasant surprise. Poker Tournament - Blind Stealing Strategy Poker tournaments are often not epic confrontations between two premium hands in the later rounds when it all is decided. They are generally 60/40 or closer confrontations, which ultimately decide the outcome. The Joys Of Playing Internet Poker I started playing poker on the internet about six months ago and I must say I absolutely love it.I had had no real interest in poker until I watched it at a friends house on satellite TV. Spread Betting Basics Spread betting is a complicated venture; the statement is nothing but a popular misconception. Proponents of this form consider it to be real easy, once the new player has understood the concept. Online Roulette - A Brief History The term "Roulette" is French and in essence it means "small wheel". While it may seem that because "Roulette" is a French word that the game itself comes from France, but this is not necessarily true. Gambling Equipment 101 The excitement and popularity of the gambling games entices few players to own their own gaming equipments. Mini blackjack tables and poker tables are quite famous among the buyers. Useful Gambling Tips, Tricks & Secrets The general idea of both land-based gambling as well as online casino gambling is, naturally, to make a profit, as would any profit-seeking business. The trick casinos play, however, is to give odds and games that at the very least seem fair so as to entice the player to come back time and time again. When Should You Hang Up Your Betting Boots for the Day? Quit as soon as you are in front for the day?Set a stop loss and quit betting for the day if you reach that point?Set a profit target and quit as soon as you reach that goal?If your first few bets lose, then you should quit because you luck isn't with you today?If you win your first few bets then you should quit because you have already used your luck for the day and from now on you must have bad luck? Sound familiar? I am sure you have heard them all before. Self confessed gambling experts usually will advocate one of the above, or a slight variation of one of the above. 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. Poker is Meant to be Fun With the recent explosion of interest in poker, it is easy to forget that poker is a social game. We see the high stakes World Series of Poker episodes replayed over and over on ESPN.
|
| home | site map |
| Web Site Development - Search Engine Marketing: Dream Team Media |