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.

---

Video Poker - Should You Play Maximim Coins?

The arguments are almost endless about whether or not to... Read More

Gambling Interesting Facts

SoccerbettingIs there such thing as "kangtao" or surewin tips?I have... Read More

Dos and Donts of a Successful Soccer-punter

Bet only what you can afford. Define a bankroll at... Read More

Playing Live Casino Poker for the First Time - What You Should Know!

The type of game and the stakes you are going... Read More

Slot Machines

On average, one third of the casino's total revenue is... Read More

How to Profit at Online Poker Over the Long Run

The first and most important step is to take notes.... Read More

Roulette Strategies - The 10 Commandments for Bigger Profits!

You will see many roulette strategies on the net.Here we... Read More

How to Succeed in the Poker Freerolls Part 2

How to Succeed in the Poker Freerolls Part 1 looked... Read More

Tips To Ponder Before Buying A Poker Table

Poker tables come in al shapes, sizes and prices.Folding poker... Read More

How To Avoid The 3 Destructive Traits Of Traditional Gambling / Lottery Systems

There is over $120,000,000,000 spent on lottery systems along across... Read More

Understanding Online Casino Bonuses

Are you puzzled by the workings of online Casino bonuses,... Read More

Horse Racing Betting, The Risk Free Way

You may or may not of heard of all this... Read More

Online Gaming In Your Face?

Whether it is on the street or online, one cannot... Read More

Compulsive Gambler Continues Down Self Destructive Path With Little Hopes To Stop Gambling

Everyday I here of compulsive gamblers who are continuing to... Read More

Land Casinos Vs. Online Casinos

Since the emergence of a few online casinos in 1996,... Read More

The Bingo Renaissance

Little old ladies in slippers, playing for pennies and cents... Read More

2005 World Series of Poker -- Mid Tournament Report

The 2005 World Series of Poker started its 36th year... Read More

Why Use an Internet Sports Book to Make Wagers?

Although I started using online sportsbooks almost ten years ago,... Read More

Video Poker - The Basics

After Blackjack and Craps, video poker gives you some of... Read More

My Casino Blackjack Variation Game

I have played millions of hands of blackjack. I started... Read More

Discover YOUR Online Poker Room

As all the poker sites on the internet call themselves... Read More

The Secret of Come Betting

Pssst...! Wanna know a secret?How about the secrets of come... Read More

Blackjack Strategy: How To Avoid Unnecessary Losses By Avoiding Emotion

Most blackjack articles seem to be written by people who... Read More

Depositing Funds to Your Online Casino & Poker Room Account - The Best Options

Ways To DepositWhen I first wanted to start playing in... Read More

Online Poker --- Is It Safe? --- Is It for Me?

Online Poker RoomsRapidly Growing in PopularityPlaying online poker is fast... Read More

How YOU can Regress the Six and Eight!

The CrapshooterWhat are the secrets of regressing the Six and... Read More

Play Online Baccarat Game

Baccarat - the game of the rich and famous -... Read More

Heres an Easy Exercise to Improve Your Texas Holdem Play

Many beginning Texas Holdem players develop a playing style that... Read More

The History of Poker Chips

Gaming chips have been made from a wide range of... Read More

Three Card Poker Basics

Three card Poker is a fast paced game which is... Read More

An Easy Way to Become a Good Blackjack Player

Learning to play the game of casino Blackjack reasonably well... Read More

Horse Racing Betting, A Beginners Guide (Part 2)

In part one we went over how to pick contending... Read More

Online Poker Table Selection - How to find the most profitable table to play on

Knowing where and at what times the loosest poker games... Read More