Understanding the Benefits of a Betting Bank

If you are an enthusiastic gambler and enjoy horse betting, you should probably think about setting up a betting bank. This is a ‘pot’ of cash that is intended for use as betting money. The amount of cash it contains is up to you, but it is important to keep a note of how much moves in and out of the pot. The value of the pot will represent how successful your bets have been.

You are advised to set up a dedicated bank account for your betting pot. This keeps everything organised and makes it easy to monitor income and expenditure. If all of the gambling that you do is confined to one bank account, there should be no confusion over whether or not you are making a profit. You will be able to tell by checking your financial statements.

It is essential that you keep a close eye on transactions, because a prolonged losing streak could end up consuming all of your funds. If you spot the problem early, you can switch up your technique and try something new, so that you don’t risk losing everything.

The following problems represent some of the most common reasons why betting banks fail.

– Your bets were too big for the size and scale of your bank.

– Your bank was not strong enough to tolerate prolonged losing streaks (possibly, because you backed too many big prices).

– Your horse betting and other gambling strategies are just not skilled enough. This is a very common issue and it is a tricky one to solve. It takes time to learn how to gamble like a pro. If you are just starting out, you may need to be patient and put in plenty of practice. This is why inexperienced gamblers shouldn’t dive in too fast and place too much money on their bets, too soon.

How to Utilise a Bank System

You can solve all of the issues outlined above by simply being careful with your bets. Think about what you want to achieve. There are some people who don’t want to take the process so seriously. They’re looking to have fun, spend some cash, and try their luck. And this is fine, as long as they can refill the bank again. If you are looking to make long term gains, however, you need to be a little smarter.

Stage One – Bank Value

Work out how big you can afford to make your betting bank. It doesn’t really matter how large your maximum limit is, as long as you keep the end goal in mind. You are supposed to be expanding the pot. You can always change the size of the pot at a later date, but to begin with, just pick a number that you can afford to lose.

Stage Two – Review the Risk

The size of your bets should reflect a fairly modest proportion of your betting bank. You don’t want to place the entire bank on one big bet, because you could lose it all. The same rules apply to losing two consecutive bets; it could cripple your betting bank and your finances. This is why you need to determine how long the worst kind of losing streak could last.

Imagine a person who backs multiple favourites at even money. To begin with, it is important to acknowledge that bookies feel confident about these choices. They believe that they have a good shot at winning. At even money, it is reasonable to assume that here is around a 50% likelihood of a win.

While these might seem like great odds and entice you into handing over 25% of your betting bank, think carefully about this arrangement. With a 50/50 result, you should expect to lose four consecutive times, at just over 6% of the time. In other words, if you gamble a lot, it is bound to happen. And, when it does, you’ll lose your 25% share.

Stage Three – Converting Pounds to Points

As already discussed, the size of your bank isn’t of too much significance. This is because we transform your pounds into points. As so many different aspects of gambling are reflected in point form, it is useful to think of a betting bank as being worth 100 points. If this were the case, 1% would be equivalent to one point.

If your bank were worth £10, every pound would represent ten points. Or, to put it another way, every point would represent ten pence. If you need some more help, use the table below for simple, quick fire calculations.

Stage Four – Selecting the Right Bet

Once your betting bank is ready to go and your money has been changed into points, you need to identify an appealing and valuable bet. Then, stump up the cash. If you are still fairly new to betting, you might want to experiment with basic level stakes betting techniques to begin with. They don’t carry too much risk.

Determine how large a proportion of your betting bank you are can afford to put up. This is how you find out how much each of the stakes will be. For casual gamblers, a reasonable figure is around 2% of the bank. This figure allows for a decent amount of protection from losing streaks, but it will cause the bank to grow at a sluggish rate.

For more experienced gamblers, a 5% stage is suitable. This enables the betting bank to expand quickly, but it also means that the risk of being cleared out by a losing streak is increased.

If you are interested in finding out more about how to bet successfully, or you are looking for high quality horse racing tips, visit Betting for Winners today. We can give you smart information, advice, hints, and tips on where to start, how to bet, and what techniques to use for guaranteed success.

Gambling and the World of 666

Money is the product of greed and it is in everyone’s sight that has not the knowledge that God provides for us. The world runs on money and without it one is destitute and unable to survive in what has become the world of 666. Most, however, have not the knowledge or know how to make it in quantities they expect they would need to provide them a good life. That is why they enjoy taking short-cuts with their dreams as motivators to gamble.

Those who engage in it are easy prey for some to extract their money and make big profits. The addiction to gambling is an acquired taste and once hooked it becomes a life-style the victims cannot escape. It’s a drug that changes the brain to require more and the main thing behind it is an evil force that will eventually rob those so afflicted of everything they own.

Over and again the stories of those who have gone down this path are highlighted in the drunks who occupy the streets and often sleep under bridges or on park benches. Spending time recently speaking with some homeless men in my city of Canberra, Australia, the nation’s Capital, there is a common thread running between them.

Mostly they come from homes that have rejected them and from broken marriages. They all have bad attitudes towards society which can be blamed on their circumstances. They have reached a point in their lives where they no longer trust anyone and they are vulnerable to forces beyond their control. They live with evil and they are the victims of same.

The governments tolerate gambling and many encourage it. Likewise they allow the alcohol because these things go together and revenue is obtained that makes the rest of society work. This is a tragedy and one most are powerless to stop.

Constantine, emperor of Rome, established the Catholic Church in 325 AD and he put up the image of Jesus Christ as its Saviour. He also introduced the Trinity God, which became its focus along with the Mother God of Babylon, Mary, the sun-star. He was Islamic and the Amorite of the bible (Amos 2:9) and the one identified as 666 (Revelation 13:12-18).

The world over which his methods still rule is corrupt, evil, full of drugs, and it creates victims who are prone to gambling and such. They are targeted by the rich and easily fall victim to anything that might make them money. They are destined to lose out and their future is set if they go down this path.

Fantasy Football – A Lesson In Monetizing Anything

Attention entrepreneurial spirits – the following would have seemed as fictional as Star Wars to our grandfathers, not to mention Vince Lombardi. However, it’s all true and there’s a valuable lesson in this – you can monetize anything!

Congratulations to the NFL. They’ve found a way to keep a huge fan base despite the myriad off the field issues they seem to shrug off weekly. The referee strike of 2012 and the inept replacements? Forget it – that didn’t even register on the NFL fan’s “List of Things to Care About. ” How could it? This is a league that has recently seen popular players either indicted or found guilty of domestic violence, rape, child abuse, and murder. Nice guys, huh? In short, there is NOTHING that would keep us from tuning in each Thursday, Sunday, and Monday (in my lifetime, I am sure there will be a game on every night of the week). TV ratings suggest this monster really IS too big to fail.

So why do we do it? It’s not because we care about who wins or loses the actual game. Some of us do, but we’re now in the minority. No, the wins and losses are not even the second reason. Sports gambling, though illegal in most states, WAS what kept the NFL atop the list for sports fans. People gamble nearly $10 billion on the Super Bowl alone. Imagine what a full season brings in. The joke used to be something like “Daddy’s favorite team is the Dolphins and he wants them to win by less than 4 points.” However, because gambling has such a negative connotation in society, people don’t talk about it much, and certainly not when they lose.

The thing that will help the NFL remain the king of the hill indefinitely turns out to be the photo negative of gambling. It’s Fantasy Football, and it’s nearly reached the point where we can remove the word “Fantasy” from the name. It’s quite real, and it’s here to stay. Gambling is illegal because it’s considered a “game of chance.” Wagering on Fantasy Football is legal because it is considered a “game of skill” (don’t ask me who decides these things, but it’s true). Gambling is ugly because it can ruin people’s lives when they lose. Fantasy Football is innocent and fun, even though the same amount of money is spent on participating, and yes, half of it is lost. With gambling, there is only money. With Fantasy Football, there is money, but also funny team names, trophies, and bragging rights. It’s market norms versus social norms, once again. Unless you live in one of the few states where gambling is legal, it takes connections to people with connections to partake. Participating in Fantasy Football only requires an internet connection and as little as a $1 investment.

Fantasy Football’s roots can be traced back to the 1960’s, but that was a different world. It wasn’t until the last 10 years, thanks entirely to the internet, that it took flight and became a craze… and a SERIOUS business. About 40 million Americans are playing some form of Fantasy Football this year, and they are spending approximately $2 billion to do so, but that’s just the beginning. When you consider the entire industry, the empire that is Fantasy Football is estimated to be worth more than $50 billion! And it’s going to continue to grow. Everybody’s doin’ it. I play, my friends play. Heck, even NFL players play! Just this week, one NFL player tweeted “I’m probably going to lose my fantasy football matchup this week cause (Adrian Peterson) can’t play Sunday for disciplining his child… ” Really.

While you won’t hear announcers talk about point spreads, they frequently refer to Fantasy statistics. The crawl at the bottom of the TV screen is now devoted to the new national pastime. As big as the NFL has become, it recognizes that it NEEDS the Fantasy Football element to keep its brand healthy, so they go out of their way to promote it. There are magazines, books, radio shows, and TV shows devoted to it and there is even a TV series based on a group of friends tied together by their Fantasy Football league. Only in America!

On-line Fantasy Football sites are raking in money, capitalizing on the popularity of this “game of skill.” One of the most popular sites boasts that it pays out more than $10 million per week. Considering they are cleverly charging 10% on every dollar to facilitate the thousands of contests among strangers, it’s easy to calculate how a company like this can quickly become worth millions almost overnight. And it’s not just NFL football. Most of these sites provide the forum for “Fantasy” baseball, hockey, basketball, golf, and the major college sports.

The lesson in all of this is simple – If you build the site, they will come, and they will come with dollars to spend. Find the product that people are crazy about and make it available to them on-line, in any form you can. If you don’t have the product itself, write a book about it. If you don’t want to write a book, write an article and sell it. Position yourself as an “expert” (whoever questions that anyway), and you’ll command a price.

Now, if you’ll excuse me. It’s nearly game time and I need to root for my kicker’s offense to move the ball down the field to the 30 and then get stopped. Strange thing, this Fantasy Football.

The SP Bookmaker

The term SP Bookmaker means Starting Price Bookmaker which generally refers to receiving bets at fixed odds or starting price.

This type of gambling was legal in Australia only for licensed bookmakers working on course meaning at the racetrack. In the 1930’s with the radio and telephone in full swing the races could be heard without going to the track. Lots of people liked to have a punt on the horse racing but often could not go to the track to put on the bets.

The Melbourne Cup was well known by the Australian punters and everyone wanted to have a small bet.

This being the case it made it very difficult for most people to put a bet on if they could not get to the track.

The Illegal SP Bookmaker, it could be anybody. It could be a small timer operator run by a single person taking minimal wagers from one or two friends including neighbours, family members, workmates etc.

Runners as they were known who would go around the neighbourhood collecting wagers from clients in their own houses, at the local hotel, in back streets and so on. Cockies short for Cockatoos who would be placed in positions of high points and other keen viewing advantages to warn Runners and Bookmakers of approaching law authorities.

Then there was the large scale telephone based SP Bookmaking ring involving people answering phones all day long taking thousands of bets worth thousands and thousands of dollars just in one day.

Of course this was all illegal but the authorities were slow to act and did not realise the magnitude of money being generated by this activity in the racing industry. In fact police often turned a blind eye to this as it seemed harmless and was in fact the SP Bookmaker supplying a service to the public.

Eventually the Government finally caught onto it and realised something lucrative was happening in this part of the racing industry. They also realised that it was not generating any taxes and therefore a Royal Commission was launched in 1959.

In 1961 due to the Royal Commission an Off Course Totalisator Agency Board was introduced.

This now resulted in some of the money that was being wagered on racing bets being returned to the racing industry. Punters could now place bets without fear of the law.

As time went on TAB Agencies were showing up everywhere, Hotels, Clubs, shopping centres and so on.

The racecourse Bookmaker still had short comings. In Australia legalised Bookmakers were unable to operate off course shops similar to other countries around the world. So the majority of bookmakers were only allowed to take bets from people at the track up until the 1990’s.

The death of the SP Bookmaker and the final nail in their coffin is near.

Corporate bookmakers were then able to offer another alternative to the punter thanks to new legislation. The Northern Territory Government could now issue Licences offering phone and online gambling to the Bookmakers. Online Bookmakers are now legal and bets can be placed with them from customers in Australia and overseas on all Australian racing and sporting events by almost any means.

With all this new legislation and control by the Governments of Australia the SP Bookmaker slowly died out. They are no more.

To place a bet now, you can use your mobile phone to ring your local legal Bookmaker at the track or at his office, have a credit account with them if you wish. You can place a bet on via the internet with one of many online bookmakers, go to the local pub and use the TAB, place a bet using your TV remote control handset while watching the race or even do something different, go to the racecourse and have a bet with an oncourse bookmaker.

Who will be next to die, not the oncourse Bookmaker I hope.