Is there an article on the Home Page of TheRx that I wrote 2 years ago that now appears there TWICE? :cocktail :cocktail :cocktail
I don't know if I should feel flattered or what?
[font=Arial, Helvetica, sans-serif]The reason bookies and gamblers go broke
[font=Verdana, Arial, Helvetica, sans-serif]5/8/03 - The Shrink[/font]
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Do you know why bookies and gamblers go broke?
Over the past few years, I have seen some of the sharpest bookmakers and gamblers lose their bankroll, their jobs, their wives, and in some cases, their lives.
What really amazes me is how informed and mathematically inclined they tend to be. And yet, they still lose.
In addition, I have met some of the most brilliant minds on both sides of the counter.
They have the right people working for them, the best handicappers, the computer software that spits our nothing but sharp numbers, the bankroll, the personalities to endure such volatile changes in their cash flow. And yet, they go broke.
The irony in all of this lies in the fact that both sides are so savvy. They both are fixated on trying to beat the other to the best number on a particular game. Sometimes the bookmaker gets there first. Other times, the professional gambler does. But, in the long run, it doesn't matter.
What eventually breaks both of them is not the opponent. It is actually something within themselves that they both share.
It is a weakness not always recognized by the best mathematician, the best oddsmaker, the best money manager, the best handicapper, the best scalper or the best person at middling a game.
Let's use Charlie Therwanger from Aces Gold as one example. Believe me, there are hundreds of others I could have chosen that went belly-up for the same reason.
After talking to other bookmakers and gamblers in the know about Therwanger, they all tell me that he was one very sharp man. He actually amassed a small fortune by being both a good bookie and a good gambler. So why did he go broke?
A favorite line of mine from the play Julius Caesar goes something like this:
"The answer dear Brutus is not in the stars but in ourselves, that we are underlings"
The reason that the most successful people in offshore sports betting go broke is simple. It's called GREED!
If anyone denies this, they may very well be the next person to lose it all. I have seen GREED cloud judgment and impair wisdom amongst the most brilliant people that one could ever imagine. Recognizing GREED is one giant step in possibly preventing this from happening to you. Actually doing something about it is the solution, but I'll save that for another time.
THE SHRINK
I don't know if I should feel flattered or what?
[font=Arial, Helvetica, sans-serif]The reason bookies and gamblers go broke
[font=Verdana, Arial, Helvetica, sans-serif]5/8/03 - The Shrink[/font]
[/font]
Do you know why bookies and gamblers go broke?
Over the past few years, I have seen some of the sharpest bookmakers and gamblers lose their bankroll, their jobs, their wives, and in some cases, their lives.
What really amazes me is how informed and mathematically inclined they tend to be. And yet, they still lose.
In addition, I have met some of the most brilliant minds on both sides of the counter.
They have the right people working for them, the best handicappers, the computer software that spits our nothing but sharp numbers, the bankroll, the personalities to endure such volatile changes in their cash flow. And yet, they go broke.
The irony in all of this lies in the fact that both sides are so savvy. They both are fixated on trying to beat the other to the best number on a particular game. Sometimes the bookmaker gets there first. Other times, the professional gambler does. But, in the long run, it doesn't matter.
What eventually breaks both of them is not the opponent. It is actually something within themselves that they both share.
It is a weakness not always recognized by the best mathematician, the best oddsmaker, the best money manager, the best handicapper, the best scalper or the best person at middling a game.
Let's use Charlie Therwanger from Aces Gold as one example. Believe me, there are hundreds of others I could have chosen that went belly-up for the same reason.
After talking to other bookmakers and gamblers in the know about Therwanger, they all tell me that he was one very sharp man. He actually amassed a small fortune by being both a good bookie and a good gambler. So why did he go broke?
A favorite line of mine from the play Julius Caesar goes something like this:
"The answer dear Brutus is not in the stars but in ourselves, that we are underlings"
The reason that the most successful people in offshore sports betting go broke is simple. It's called GREED!
If anyone denies this, they may very well be the next person to lose it all. I have seen GREED cloud judgment and impair wisdom amongst the most brilliant people that one could ever imagine. Recognizing GREED is one giant step in possibly preventing this from happening to you. Actually doing something about it is the solution, but I'll save that for another time.
THE SHRINK
