What’s gambling actually? And how it can be done smartly? For this reason, we need to break down a few things regarding gambling.
Let’s talk about gambling, shall we?
“Gambling” sounds like a horrible word, and it has some bad connotations, but I would say really unfairly, and I will explain why.
The biggest and richest investors in the world, Warren Buffet, Ray Dalio, George Soros and others, they are all actually huge gamblers.
They are gamblers because they invested a big part of their money on a hunch feeling regarding a product, regarding a strategy, regarding an uprising of a trend or whatever the case maybe.
Those guys lost Billions of Dollars on bad investments, which were actually gambles, and sometimes not particularly good ones.
The difference is that they reached a point where they had a good streak, when all their investments were doing well, and they went out with the money.
Well, that’s not the only difference obviously.
The second big difference, is knowledge and research.
You can’t succeed in something, even if you are doing it for fun you still want to be successful, if you don’t really understand what you are doing, what are the guidelines, who against who and what are your odds to make it.
So there you go.
So if I would frame it in a phrase, I would call it “Calculated Gambling”.
So how can you be a calculated gambler?
Use this 3 basics, and you will always be on top of your game, and will be able to finish always with small losses if it’s a bad day :
- Good instincts
THE 3 BASICS
The guidelines are what leads your bets, they are like the golden rules that you follow strictly and with no questions.
Your guidelines need to be suited to your capabilities, in terms of ability, depth of your pockets and playing style.
For example, if you decided that 300 $ is an amount of money you are ok with spending for fun even if you lose, then that is your first guideline – not going above this amount.
If you have a tendency of taking risks, or risking higher amounts for higher profits, so you should plan your moves before, and tell yourself “this time I’m going ALL IN” or “in the next two bets I will go for 25% of my budget”.
Once you set your own guidelines, then you know what to expect if it’s not going your way.
After a while, you’ll get used to your guidelines, and you can plan your moves based on previous ones, so your betting pattern is calculated and based on how your last moves went, and the success you had that day.
Probably, the most important thing of the 3 basics to calculated gambling.
Discipline comes in place when your budget is 300$ and you lost them, and then you think to yourself “Hmm, I’ll play on 100$ more to get back my 300$ and then I’ll check out”.
This moments are the moments when you lose it, and start to gamble without control, and you just can add 100 more each time, or even double it up to make it “faster to get my money back”.
Don’t let yourself lose control, silence that irrational competitive voice in your head that calls you to try again. It’s not sports, trying again and again is not practice, and will not bring better results each time.
It’s gambling, never forget it, and you gamble your money. You need to always check your pulse, and be alert if something is not going well, and if you start to lose you need to keep your composure and realize it’s part of the deal.
Don’t lose your cool!
Patience is the key, so be patient.
Mother Nature created us in a way that in times of stress or fear you go back to your primal instincts and follow them.
Your instincts will always tell you, if you care to listen, when it’s too much and you need to sit back and relax.
There is no such thing as “knowing what will happen” or “feeling that it comes now”.
If you really had instincts for knowing what will come in the future, you probably would won the lottery already a few times and would be a Billionaire by now, just like Beef did in the immortal “Back To The Future 2” movie, when he steals from the future a sports Almanac and becomes the richest man alive and turns the world into anarchy.
So, in a more serious note, you need to trust your instincts in terms of stopping when you feel it’s time to, and going over the edge when it’s too much.
Controlling yourself and trusting your instincts is key to success, because when you care to listen to them, you sharpen them and it makes it easier to know when it’s a no next time.
Have I said you need to be patient?
Pick the right Casino games
Players can find many games to gamble on at an online casino, but some games are better than others. Some casino gambling games are easier to win than others, because the house edge is lower. Games like blackjack and video poker are games of skill where strategy counts, while other games are pure games of chance.
Picking the right casino game helps a player stretch their bankroll, increasing one’s excitement and enjoyment while betting. Below is the house edge of the most popular casino games. The lowest house edge equals the right bet to choose.
Many rules affect blackjack odds, so using Vegas Strip Blackjack where blackjack pays 3:2, doubling is allowed, the dealer stands on soft 17, and splitting to four hands is allowed, is a good idea.
- Single-Zero Roulette: 2.70%
- Double-Zero Roulette: 5.26%
- Single-Deck Blackjack: 0.50%
- 2-Deck Blackjack: 0.78%
- 6-Deck Blackjack: 0.91%
- 8-Deck Blackjack: 0.97%
- Craps: Come/Pass Line Bet: 1.41%
- Craps: Don’t Come/Don’t Pass Bet: 1.36%
- Craps: Any Seven Bet: 16.67%
- Baccarat: Banker Bet: 1.06%
- Baccarat: Player Bet: 1.24%
- Baccarat: Tie Bet: 14.36%