You can Make Money Fast in Gambling. But you will Lose it even Faster!Posted by Jim Makos on Aug 16, 2013 in Gambling | 0 comments
You can make money fast in gambling. Faster than you would think. Surprised? Why, that is the truth. Yet, it is also true that you are going to lose even more money in the long run. Disappointed?
You could be betting on sports, trading stocks or currencies, playing poker or blackjack. You can make money from all that on the very first day! Is that fast enough? Does that mean you are going to be profitable for the rest of your life? Of course not.
Don’t take it personal. It is just how gambling is set up. Come on, you have heard it before:
The house always wins.
For 9 out of 10 gamblers, that statement is spot on. For the singled out gambler, it isn’t. He or she will either break even or manage to make money from gambling. However, even they won’t make money fast, if that is what you are asking.
Do you want a better analogy?
90 out of 100 gamblers will lose money by gambling in the long run, 5 will break even, 3 will end up small winners and only two out of 100 gamblers will see their names at headlines! Why headlines?
Because it sure is very difficult to win big in online gambling. Let alone, fast!
Did you actually mean to ask how to make money fast or how to make a lot of money? Because, making money fast doesn’t necessarily mean to win big. And when I say big, I mean to make a comfortable living out of stock trading, online poker, sports betting or by becoming a card counter at blackjack.
SportsTradingLife.com discussed months ago how long it takes to become a profitable Betfair trader. First things first: What is Betfair trading? Go read that if you haven’t heard of that before. I’ll wait for you…
Ok, now that you have an understanding of what sports trading is, let’s return to that question.
How long will it take to start making money?
The issue here isn’t how long it will be before you make money, rather than for how much longer you are going to make money, if you are finally successful.
At SportsTradingLife’s post they are quoting Centre Court Trading.
While that is true, I am a bit skeptical. Not that I don’t agree with that, but let’s face it. In what line of work are you not expected to be learning? To be adapting? To keep up with the industry’s standards? To evolve and learn new tactics, new methods to improve your work? For years to come.
Can you imagine a surgeon operating in the same exact way for 35 years, or a teacher educating your children nowadays with absolute zero knowledge of internet, just because internet wasn’t so evolved in the 90s? How about an engineer building bridges or your home, based on what they learned 15 years ago.
Sure, the fundamentals are still applicable. Surgeons still need to cut through with a scalpel, teachers still teach algebra and engineers still have to start from the foundation of a construction. But new technology and new techniques will make their job easier and more efficient.
And if they don’t improve their skills, their competition will
And then, patients will look for another surgeon, parents will search for better schools and you will employ an engineer who will build an inexpensive sturdier house quicker!
In gambling terms, your strategy will no longer work. You will stop making money because the competition play/trade/bet better and smarter than you. Finally, you will end up wondering what went wrong, cursing your luck.
Believe me, luck is totally unrelated.
Now you are not worried why you don’t make money fast, but why you don’t make any money! You are back to ground zero.
Hence gamblers, investors and traders never stop learning their craft. Much like any other craftsman.
You can make money fast in gambling right from the start
So, let’s go back at the very first point of this article. I told you that you can make money fast, even from day one. Luck does have an effect on that though. Half of you will be lucky to get away as winners on their first day of gambling, while half of you will return home empty-handed. Doing the same exact thing. How is that possible?
Let me explain.
Variance will decide who wins or loses
Variance. What is that, right? Flip a coin. Tens of times. I bet the results won’t be heads-tails-heads-tails…. In other words, the coin will not land on either side half of the times, and even worse, it won’t follow that exact pattern, switching back and forth between heads and tails.
The same principle applies to you. Some of you will win, some will lose, some will have 3 winning days in a row and a few unfortunate souls will be losing money for 5 days straight!
Now, remember what I told you:
Those people who were lucky enough to make money fast for 3 consecutive days are probably among those losers! And that is because their strategy is flawed, their money management is non-existent and they cannot stop gambling when the odds are against them. For them, there is no turning back, unless they quit and begin studying the mathematics of gambling. They are like doctors who haven’t studied medicine for more than a year.
I am sure they won’t be good gamblers as they wouldn’t have been good doctors. Don’t be one of those.
On the other hand, those unlucky ones who experienced the longest losing streak could be the big winners there. Can you rule that out? It’s really too soon to say. Variance is testing their patience. For them it seems like the coin always lands on the wrong side.
Eventually, they will manage to make money in the long run though. Not because of their luck, but because of the proven record of their profitable strategy, because of managing their money properly and because of having the discipline not to gamble away their money.
They didn’t plan to make money fast. Their plan was to make money in the long run.
Making money isn’t a sprint, it’s a marathon
Personally I have been none of those gamblers. Variance was kind to me and my bankroll began climbing right from the start. Even when my risk of ruin percentage was through the roof. Even when I was taking bigger risks than my capital afforded.
Have I been super lucky? Of course I have.
I always had a strategy that guaranteed I would make money in gambling. It was just that I wasn’t bankrolled enough to sustain big drawdowns, when I was counting cards at the casino. As most young gamblers are.
So, if you have found that strategy, it won’t be long before you become profitable in gambling. But if you haven’t, please stay out of gambling, stop wondering how you could make money fast and come back when you have tried your strategy on paper. You would still have money to invest in your strategy. Money you saved by not gambling randomly, based on your ego, trying to make money fast.