Exactly what defines ‘success’ as a gambler differs significantly from one punter to the next. For some, it’s all about enjoyment – irrespective of the outcome. For others, it’s a more serious affair that’s about winning as much as possible and minimising losses.
In both instances, online gambling has opened the door to the most extraordinary gambling opportunities for players at all levels worldwide. Whether new to gambling or something of a seasoned veteran, there’s never been a better time to dive into a whole world of action.
The question being – what does it take to become a successful gambler?
Irrespective of how you define success, there are certain qualities and characteristics that will help you along the way. Playing for fun, chasing profits or even considering going pro – punters at all levels need to think carefully about whether they’re cut out for the exciting world of online gambling.
So with this in mind, what follows is a brief rundown of the seven skills you’ll need to succeed as a gambler – wherever your priorities lie:
1. Commitment
First and foremost, becoming a successful online gambler means being willing to commit to whichever games or sports suit you best. For logical reasons, it simply isn’t possible to learn enough about dozens of sports and follow them intensively enough to make informed gambling decisions. Instead, you need to think about the sports and games that are of genuine interest to you and that you have a good grasp of. Rather than spreading yourself too thinly, it’s better to commit to just a few gambling activities and markets you can keep a much closer watch over. Experimenting with something a little different from time to time can be hugely enjoyable, but it pays to focus on what you know and enjoy.
2. Logic
Speaking of logic, this is the second thing you’ll you need to possess in spades to become a successful gambler. This is because at its heart, gambling is based on mathematics, statistics and probability. With the risk of upsetting some of the more superstitious types out there, there’s really no such thing as ‘luck’ and nor is there anything you can do to influence the outcome of an event. Instead, it’s up to you to make wise and informed decisions based on the information and data available to you at the time. Some swear by the value of going with their gut – others will tell you to let logic and wisdom be your guide. Given that gambling is essentially a game of probability and mathematics, it’s the latter of the two groups you should be listening to!
3. Organisation
Most successful and professional gamblers worldwide wouldn’t even think about being without their trusty gambling journals. It may come across as a rather uninspiring administrative chore at first, but tracking your activities and keeping a complete history of your gambling activities can be enormously beneficial. Slowly but surely, you’ll compile a detailed record of your successes and defeats, which can be used to help steer future activities in a more profitable direction. Not only this, but there may come a time when you need these records as a form of evidence for income and taxation declarations. The more organised you are and the more formal your record-keeping, the better.
4. Financial Management
If you intend to gamble with the objective of making money, you’ll ultimately serve as your own accountant. This means it’s up to you and you alone to determine how much you can afford to lose, how much should be allocated to your gambling activities per week/month and what to do with your winnings as they roll in. Strategic financial management also means never allowing yourself to go beyond your allocated budget under any circumstances. If you assign £100 as your gambling budget for the month and blow it on the first day, you must have the resolve to endure the next 29 days with no gambling whatsoever.
5. Analytical Abilities
The stronger your analytical skills, the better you become at making the best possible gambling decisions. Analysis in the field of gambling means taking all of the evidence available to you at the time and using it to predict both the likely and unlikely outcomes. From poker to blackjack to horseracing to football betting, there’s much you can do to make calculated decisions and maximise your probability of winning. It’s the combination of these analytical abilities with honed logic that will maximise your success in the gambling activities of your choosing.
6. Patience
You win some, you lose some – the very nature of gambling at its heart. Precisely why anyone looking to improve their gambling acumen needs to focus on their capacity for patience. There comes a time in the life of every gambler where a losing streak seems to go on and on, with absolutely no relent. Even the most informed and savvy decisions result in nothing but failure, making you question whether or not it’s really worth continuing with any further gambling activities. Nevertheless, it’s all part and parcel of the process. It’s important not to confuse patience with stubbornness, however, as the latter could steer you down entirely the wrong path.
7. Resolve
Last but not least, as losses are statistically inevitable, you need to have the resolve to deal with them when you can. You lose your entire month’s budget on what was supposed to be a sure-fire bet…then what? Do you attempt to chase your losses out of sheer frustration? Try ‘one more’ bet to see if you can turn things around? Or do you accept that you’ve been dealt a bum hand, walk away and learn from your mistakes? Successful gambling means knowing when to cut your losses, accept that things happen on your way and keep a cool head. If you’re the type that simply cannot deal with these kinds of setbacks, you probably shouldn’t be gambling in any way, shape or form!