The Main Task of a Smart Gambler

[swogerino]

I always think the job of a gambler is to gauge risk and reward.  Nobody is going to win them all, but managing risk and placing bets according to when you feel the risk/reward is in your favor is the trick.  That is about as close as you can come to the joke of betting big when you are going to win and betting small when you are going to lose.  In other words, when the juice is worth the squeeze, load up on it.

Sounds pretty perfect in theory but I know you too have been there in the situation where even when you thought the juice is worth the squeeze, you ended up losing money. I am not saying you cannot win in gambling but I want to emphasize how easy is to lose in gambling compared to winning even in the cases when winning looks so easy on paper. I am trying to win easily by copying other people bets in sport betting and even a single super well known team like Real Madrid can ruin your bets trying to win. The best I think is to consistently choose 4 games of 1.15 odds max (again no guarantee as even 1.04 odds have lost to me) and place a single bet on such parlay every day, you will see that over the long run it will work most likely. This is what a tipping service was doing here some years ago and they won for a couple of months before going down, I think they become greedy as started raising the odds and the bar.

[Asuspawer09]

In reality, everyone can make mistakes, both the crowd and those who try to bet against the crowd. There's no particular meaning to this, but the crowd is still wrong a little more often. On the other hand, the main task of a smart gambler isn't to be right, or rather, not only or primarily about that. The main task of a smart gambler is to be right where many people are wrong, big time, for big money. Or where a small number are wrong, but, again, big time, for big money. If you win, but your winnings are mere cents, your game is pointless, even if you're right. Conversely, if you lose often, but your losses are small, then there's no problem.
This is a classic George Soros quote: the only thing that matters is how much you win when you're right and how much you lose when you're wrong.

I mean, I could see how this was a huge topic, since, as a gambler, this was surely a thing betting against the odds. It wasn't something that was easy to do, but surely the winnings are really tempting, since that could reward you with a huge amount of money compared to just betting where most of the crowd thinks is going to win, and it's true, most of the time it wasn't surely going a satisfying win because the winning amount was too small, and it feels like you were just going with the flow and not really betting anything at all.

Personally, this is the best thing to do in gambling finding the right bet where you know a lot about the bet. I usually just go win sport betting because this is probably where most of these kinds of bets are happening, where some teams are just better than other teams and people already know that they know that some teams have a very low chance of winning against other teams. If you know a lot about the sport, you could pretty much risk on a weaker team that you think might have a good chance, or you're just supporting. And if you did hit that prediction, that is really a satisfying feeling of winning, plus the winning amount was just huge compared to the other bet.

Still, this is where a lot of gamblers lost it as well, since they mostly get blinded by the huge money payout. For me, unless im sure the odds are pretty random, I wouldn't usually going to go against it, since most of the time the crowd is just going to win anyway.

[Perfectbaby]

There are people who do not usually love gambling with huge amount and even though they  might seems to be correct on their prediction they have already set a particular amount to gamble with that is why if they predict games and they notice that they are not following the public they would use small money to bet on it because that is what they can afford to lose while gambling. When a gambler uses small money to place bet and it happens that they win the bet you would often see them regretting for not using higher amount but when they lose you would see them saying that "is as if they knew they were going to lose the bet that was why they placed bet with small amount" then when they happens to win it you would also see them regretting for using such small amount to gamble.

[Proty]

The most important thing in what you said is the size of the winning or the losses rather than being right or wrong.  Even if someone is right in plenty of times their loses may be bigger in few wrong predictions. However, it is also possible for a gambler to make many wrong predictions and still end up making more money or profit, when their losses are small and their winning bets is big. This is the reason why bet Sizing is important rather than paying attention on getting the right prediction.  A gambler being right on several occasions doesn't mean they are going to be profitable.

[Sunshine1525]

Can people tell when they’ll win or not? Knowing when to stake a fair or huge amount and be right could be too tough cause the game is perfectly unpredictable which is why luck has the major role in determining if someone would win, that’s why i think the main task of a smart gambler is to avoid losing important money to the house.

That's why people should always gamble with what they can afford to lose to whatever they lose to tne house won't affect them much cause it's a spare money and not something meant for important needs.

[Odusko]

There are people who do not usually love gambling with huge amount and even though they  might seems to be correct on their prediction they have already set a particular amount to gamble with that is why if they predict games and they notice that they are not following the public they would use small money to bet on it because that is what they can afford to lose while gambling. When a gambler uses small money to place bet and it happens that they win the bet you would often see them regretting for not using higher amount but when they lose you would see them saying that "is as if they knew they were going to lose the bet that was why they placed bet with small amount" then when they happens to win it you would also see them regretting for using such small amount to gamble.

Wether a gambler follow the crowd or do his own personal conclusions, if loses or winning want to come their way, it will still come, so I don't see the reason why we should get ourselves stressed out for that, the most important thing is to gamble with amount that we can afford to lose and be ok, and timing ourselves regardless of the game outcome is very important key to gambling with less pressure and stability of portfolio, on going in with large amount of money, that depends on the gambler available funds and the level of risks his balance can handle.

[Brizi5000]

Every gamblers wish is to win big, and As a gambler you’re seen as a genius each time you choose to go against the crowd and end up winning big. The crowd will always support teams that have a more higher chances of winning than a team whose chances of winning is very slim. To win big in gambling, is either you stake heavily or you take on teams with higher betting odds because their chances of winning is very slim, or you continue accumulating more bets to further increase your odds. Which ever way it is, this method have high chances of working against you as a gambler which I don’t think is a smart move although since it’s dependent on luck you could also be lucky but it’s very rare. A smart gambler will rather prioritize his risk management and control instead of chasing big winning with high chances of losing.

[Su-asa]

The main task of a gambler is to make smart choices and by that I mean not just gambling responsibly but also doing what you can to reduce the risks involved in the games that you bet on. There is no way you can get every prediction accurately but the effort you put in to make sure you are not just making random picks actually makes you smart, you cannot avoid losses but you are definitely going to get good results in the long run. A smart gambler doesn't change losses or increase thier stake when winning or losing, everything is all based strategy.

[famososMuertos]

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This is a classic George Soros quote: the only thing that matters is how much you win when you're right and how much you lose when you're wrong.

George Soros is a sly operator who walks the fine line between a cheat and an opportunist; there is a gray area regarding how he amassed his fortune, so take his words with a grain of salt.

If you have $100 and make $50, I ask you: is that good or bad? If you lose $100, what does that make you? Look, it’s not really about whether you’re making pennies or thousands. If you bet $1 and win $0.50, that is the return corresponding to the size of your bet relative to your bankroll.

Even if you have the best information in the world—even if you possess that "holy grail" of data guaranteeing the bet won't lose—you shouldn't wager more than you can afford. When the time comes, if the math dictates a $1 bet, you bet $1, and you confidently secure those 50 cents—or that million.

[el che]

For me it comes down to risk and reward, which is what separates smart gamblers from the crowd. The public usually bets based on emotions or hype, which creates good value on the other side when too much money goes on popular teams. To make a profit you have to look for odds that do not match the real data so that your winning bets pay out much more than you risk. Focusing only on how often you win is a trap, because you can win most of your bets and still lose money if you constantly bet on heavy favorites with low returns. True long term profit means making sure your winning payouts are large enough to cover your losses over time.