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Why do you Gamble?

  • 15-01-2015 5:05pm
    Registered Users Posts: 205 ✭✭

    I just recently caught a glimpse of an advert that says "when it stops being fun, STOP" (I think it was for gambling)

    Anyway Im at a stage now where I do enjoy gambling but Its not the
    same feeling that you get when you are not a constant gambler and do a bet for the craic and it comes through... If that makes sense

    Although I don't get that feeling, I am not chasing it either.
    I find gambling as a very enjoyable way to spend my money however I don't gamble for the feeling of winning
    I gamble because I want to make some money out of it and enjoy it(as in gambling itself not winning)

    One could say that It is similar to doing a job that you enjoy, although, you could argue that, having a job has no negative affects on the bank balance.
    I enjoy betting on all sports, I love the whole process, its almost ritualistic.

    Setting up your space, logging in, making the deposit, going away and making that cup of tea that inevitably ends up
    being half finished and cold as you get immersed in stats and tables, trying to figure out a way to beat the statisticians at paddypower or williamhill.
    Making the judgement calls
    Following your gut
    Following your logic
    Its all great stuff... until that deposit goes to 0 and you have no open bets remaining.

    I don't know maybe I'm addicted... I don't think I am.
    I can give up anytime I want to.. I just don't WANT TO.

    I also feel that this online thing creates this wreckless type of behaviour that I cant describe, its almost fictional a disconnect from reality..

    I just don't hold 500 euro in the same regard when it is just a number on my screen compared to when its cash in my hand,
    especially if it is winnings that I never had in the first place.

    Anyway, I don't know if this can be considered a rant or what..
    Im just wondering do people gamble because they find it "fun" or because its "enjoyable" or to earn a living orfor some other reason


  • Registered Users Posts: 781 ✭✭✭Cartel Mike

    It's a very good question in fairness.

    I have a few bills attached to my credit card instead of my bank account. In fairness that's risky especially taking the apr fees into account but I feel after years of making mistakes in gambling that I probably have a better chance of paying certain bills off with the assistance of gambling winnings, that can be withdrawn straight from a bookmaker account back into my cc account. I would aim for €300/€400 a month . I wouldn't always get there , but I wouldn't panic if I don't . I think the gambling industry thrives on people panicking. Sometimes it's hard to remember that there are more sporting fixtures just around the corner that will be easier to figure out and plan for than the fixtures/events available to you straight after a loss!

    On an ethical note I don't think there's that much wrong with it provided people keep their emotions & decisions in check (for me you sound fairly pragmatic & reasoned for eg).

    I used to take a vague interest in premier League football in England until the reported wages of of some of these footballers frankly started to disgust me & I dont think it will be long now until the day we get a footballer in England getting paid 1mill a week to kick a round ball over some grass (as regards Irish people getting so passionate and wound up over how English football clubs & pl players fare on a weekly basis , thats a whole other argument). Prize money for sports like Golf etc also. The time & money people spend cheering on & supporting millionaires is as valid an ethical argument as gambling , thats certainly a part of my reasoning . If you can make extra cash through gambling in traumatic financial times by being pragmatic then your just being enterprising which is the opposite of being a degenerate imo.

    Anyway these are just some of my reasonings about why I would gamble.Unfortunately it can take time to get a feel for and often the only way to do that is to lose. Every loss is an opportunity to learn & even learning requires the type of patience most people can't be bothered with which is why there is a gambling industry to begin with I guess.

    I personally couldn't & wouldn't even try sports gambling for a living though.I guess the pressure of having to live solely off winnings or the fact that your chosen career would then be defined by the professionalism of players/teams you would have no say/ control over is problematic at the very least.

    The question why do you gamble is a good one. There has to be a point to it .If that point isn't for financial gain then chances are your going to be just a cog in the wheel of the bookmaking industry.Either way I think it's always a good question to be really honest about imo

  • Closed Accounts Posts: 4,744 ✭✭✭diomed

    I am in my 60s, betting since my 20s. I have never been a compulsive gambler. These days a half dozen bets a year, probably betting the same annual amount.

    To make money regularly (a wage) would imo be impossible. Winning 5% regularly you would need to bet €500k a year to earn only €25k. And you would have to beat the bookies margin of about 17%. Think about it. You have to be 22% better than average to make a small annual wage, and be able to find profitable bets and place €1,400 in bets ever day of the year. So I seldom bet with bookies. Exchanges are attractive for the unrestricted odds and stakes.

    All my bets in 2014 lost but it doesn't bother me. Once the bet is on I don't worry. I worry before placing the bet.
    Jonas Blixt in the US Masters at ~ 420/1 finished second, but I didn't make money.
    Ghana in the World Cup at about the same price. If they got out of their group = money. They didn't.
    English Derby my horse finished last. In the Prix de L'Arc de Triomphe also bombed.

    I enjoy working on thoroughbred horse pedigrees looking for the knowledge that others won't have. The database in regular use has 290,000 horses, with another 520,000 elsewhere. I write programs to analyse stuff. I have a database of all Ireland, England, French, Italian, German group race winners for about 100 years. And about 600 books on pedigree/racing. Strangely it is more difficult to gather data for lower rated horses. I need bad horses to contrast with the good horses.

    A win or a loss won't change my life much. Why do I gamble? The search for the edge.

  • Banned (with Prison Access) Posts: 31 insidertips

    It is the only profession whereby I can earn 2000 Euro profit in a day tax free.

    Specifically I bet on reality TV and awards markets.

    I use a simple modus operandi in backing very heavily on favourites to win.

    The value varied, but typically I look for a minimum of 2000 Euro on at odds of 2.0

    It can take me 24-48 hours to trickle on my stake without causing market distortion on the Betfair exchange.

    My account were limited and suspended with the online bookmakers, so it was impossible for me to place large bets. So now its the Betfair exchange only for me, where I can place uncapped back bets.

    Sometimes I have used Twitter accounts, and forums in order to ramp false favourites in order to distort the market enough for me to get the odds I require on a large stake.

    Favourites don't always win of course, and there are upsets such as Hamilton v McIlory in winning BBC SPOTY. However when one is typically back betting 2000 at 2.0, then the 2000 profit, covers any upsets.

    Long term I have found the only way to make consistent profit, and a reliable revenue stream is to heavy back bet at short odds on favourites.

    Prior to placing a bet I will often study a market in depth for a month; looking at statistics and media reports.

    With the exchange markets the edge is spotting trends, such as odds movement moving quickly up or down; indicating insider money is being lumped on.

    A stake of less than 2000 Euro doesn't interest me. Nor do odds of less than 2.0; unless I know it is a certainty.

    The key to success is never to allow emotion to colour ones judgement. And when one loses; to walk away and never chase the loss with impulse.