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.

Roulette: The Game of Remarkable Comebacks

In casino gambling, sometimes even the most knowledgable players turn to blind luck to make... Read More

Online Bingo - Internet Craze

Traditional Bingo has been a popular pastime for many years throughout the world. It's a... Read More

The Secrets of Laying the Four and Ten

Pssst...! Wanna know a secret?How about the secrets of laying the fours and tens?If you... Read More

Slot Machines - Good and Bad Locations

Although no one will ever truly know where the casinos are likely to place the... Read More

Online Casino Black Jack

Online casino black jack is said to have originated in France in the early 1700's... Read More

Roulette System: How you can win Roulette easily and automatically

In this article, we will discuss on "A personal interview with the FAST Roulette System's... 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 the US and around the... Read More

Texas Holdem Poker Tournament Strategy - Starting Hands

Welcome to the fifth in my Texas Holdem Poker Strategy Series, focusing on no limit... Read More

Playing Low Limit Shorthanded Holdem Online

When it comes to playing shorthanded games online, one size definitely does not fit all.... Read More

How to Play Two Pairs in Draw

The most perplexing holding in draw poker is two pairs. Playing other holdings is almost... Read More

Do the Laundry or Win the Lottery

On the Friday afternoon drive home, I'm relieved the weekend has finally arrived. Sleeping in,... Read More

Gambling History of United States

Against the popular belief, gambling did not originate in the US. Most of the popular... Read More

How To Extend Your Stay & Play At A Casino

How To Extend Your Stay & Play At A Casino If you decided to... Read More

Roulette System: Confession of the Roulette Dealer on Dealers Signature

Roulette System: Confession of the Roulette Dealer on Dealer's signatureThis article is going to show... Read More

6-max Texas Limit Holdem: Pre-Flop Play

Position is even more important in 6-max play than in a normal full ring game.... Read More

MGM Mirage to build a city on Las Vegas Strip

Plans include a 4,000-room hotel and casino, three 400-room boutique hotels, 1,650 condominiums and 550,000... Read More

Party Poker Sign up Bonus Code Tutorial

I have had a lot of emails from people who are looking for a partypoker... Read More

Protect Yourself by Understanding Casino Bonuses

The majority of casinos attract new business by offering players an alluring casino bonus. It's... Read More

Poker Face in Cyberspace

His palms are sweaty and his heart is racing, but he smiles when he sees... Read More

Why TV Poker Can Make You Wealthy!

There's an awful lot of poker on the television these days. If you wanted to... Read More

Your Lottery Odds and The Fastest, No Cost Way To Radically Improve Them

If I had a lottery ticket for every time I've heard "well I play the... Read More

Craps Online Betting

This short article aims to quickly cover some of the possible bets when playing Craps... Read More

How to Win a Million Dollars Without Spending a Lot of Money

I love Major Millions. And realistically speaking, there's not really a "strategy" for playing any... Read More

Online Casino Bonuses Explained

Types Of Online Casino BonusesIf you've ever considered playing at an online casino, you should... Read More

Do You Know the Best and Worst Roulette Bets?

Do You Know the Best and Worst Roulette Bets?The outcome of every spin of the... Read More

Roulette System: Illegal Tactics Casino Use Against You

Roulette System: "The Almost Illegal Tactic Casinos Use Against You So They Win"This article is... Read More

Pyramid Solitaire: A Strategy Guide For Beginners

Pyramid Solitaire is a fun solitaire game, with a very distinctive opening tableau in the... Read More

World Poker Tour -- The Beginning of a Phenomenon

World Poker Tour high stakes poker tournaments started a revolution in the way the game... Read More

Online Poker Gambling Sees Tremendous Growth

Online poker gambling at casinos and poker rooms is one of the fastest growing forms... Read More

No Limit Texas Hold?em Poker

Most online casinos offer three different types on Texas Hold'em Poker, namely No Limit Texas... Read More

Spread Betting Basics

Spread betting is a complicated venture; the statement is nothing but a popular misconception. Proponents... Read More

Help Become a Consistent Winner at Online Low-Limit Texas Hold ?Em by Playing at the ?Easy? Tables

Select Advantageous TablesTable selection is one of the most overlooked aspects of winning at poker.... Read More

Online Casino - What Is It?

Entertaining industry conquerors more and more space of our lives. Any inventions in any technical... Read More

Free Roll Texas Holdem Tournaments

Free Roll Texas Holdem Tournaments are great because they allow you to play poker absolutely... Read More

Discover YOUR Online Poker Room

As all the poker sites on the internet call themselves poker rooms so that is... Read More

The Lottery Jackpot: Why You Havent Won Yet - And What You Can Do About It

Did you miss the lottery jackpot because the planets were in the wrong alignment... er,... Read More

International Gambling 101- What You Absolutely Need to Know

All of us are familiar with what does gambling stand for. But the fact is... Read More

The Secrets of Martingale Systems

Pssst...! Wanna know a secret?How about the secret of Martingale systems?Most people do not care... Read More

4 Tips to Improve Your Online Poker Game

Online Poker has increased in popularity exponentially over the past few years. More and more... Read More

The Truth Behind The Limits: What Minimum and Maximum Bets Are About

Have you ever thought about the reason behind the existence of minimum and maximum bets?... Read More

Playing Online Poker For A Living

Playing online poker for a living is absolutely doable, but it takes a combination of... Read More

Compulsive Gambler Shares His Recovery Story About Gamblers Anonymous Now That He Stopped

A compulsive gambler who participated in Gamblers Anonymous program shared his recovery in hopes to... Read More

The Healthy Gambler

In our day and age gambling is very popular. The problem is that many still... Read More

Texas Holdem Tournament Poker Strategy - Betting Is Communicating

The "Language" of Poker BetsWe humans are very perceptive creatures. We are able to communicate... Read More

Gambling Tips

In order for a player to enjoy a more pleasant and memorable time at a... Read More

Basic Jacks or Better Video Poker Strategy

Video Poker is a game of skill - and using the simple combination of playing... Read More

The Secrets of Laying the Fives and Nines

Pssst...! Wanna know a secret?How about the secret of laying the fives and nines?You won't... Read More

Party Poker Room Review

Party Poker is one of the world's largest online poker rooms with over 70,000 players.... Read More

States Lottery Basics

For those who dream of quitting their jobs and being independently wealthy, the lottery is... Read More

Video Poker - Tips to Remember

Video poker is an easy game to learn to play well, so do take the... Read More