Gamble for Profit Not for Recreation

Gambling and earning tax free income (in the UK at least), is one of the most satisfying ways to make money. To win at sports betting for example means you have correctly picked the outcome of your event. To win at Blackjack or Poker means you have used a skill to be victorious and to win at a roulette wheel or craps table means you either have a great strategy or just got lucky.Whichever one of the above applies to you the feeling of collecting that money from a gambling victory is as good as any. Why then do gamblers set about to not repeat this more often? Why do gamblers chase losing streaks? Why do gamblers persist in giving back winnings.Very few gamblers have the personality traits to win consistently. They may have the qualities inside to be a winning gambler, but once that big win comes they think they are invincible and give it all back. A casino loves people who win. A casino executive in Las Vegas told me he likes newcomers to arrive and “get lucky early” They will get this feeling of invincibility and give us everything back and more. That scenario plays itself out amongst hundreds of people daily and the next billion dollar casino is born.On the flip side, a losing gambler will chase losses. Whether it is horse racing, football, poker roulette, a losing gambler will increase bet frequency, stake more and use even less judgement when placing his transactions. This inevitably results in more losses.The following rules, if adhered to can make you a winning gambler. I treat gambling as a job and like any job a bit of coaching and training can go a long way.Gamble with money that you can afford to lose.Start with a designated bankroll which is not linked to any other money.Gamble on what you know, if you don’t know learn.Look to increase your bank 3% every day. Every 24 days you have doubled your money. This is very attainable. My main focus is football betting, by increasing my bankroll 3% every day £100 becomes £1600 in 96 days, in another 96 days that becomes £24,000. £24,000 for 6 months tax free.Gamble for profit, not recreation. Every time you place a gambling transaction, think why you are doing it, what are you trying to win what is the risk?If your luck is out that day, walk away, there are plenty more opportunities ahead.The above rules have enabled me to make lots of money gambling, if you apply these methods then you too can win a healthy tax free income and stop donating to others profits.