Most people lose money hand over fist because they... - Bet on hunches, whims, 'sure things', their gut feelings etc - Have no sensible betting and staking plans in place - Have no concept of how a 'Betting Bank' should be used - Desperately attempt to chase their losses! - Don't study the subjects of gambling and betting - Don't treat their gambling as a serious business Let's look at each of these points in more detail... ...Bet on hunches, whims, 'sure things', their gut feelings etc

This is a TERRIBLE way to gamble! Why do people think that they will surely win if they put all their money on a horse just because they 'like its name'!? And as for 'sure things' in gambling (especially horse racing) there really is NO SUCH THING!

So the lesson to be learnt here is...BE TOTALLY LOGICAL IN YOUR APPROACH TO GAMBLING, BET USING FACTS, NOT FANCIES. ...Have sensible betting and staking plans in place

In order to succeed you must use a proven betting system and staking plan. Most gamblers hop from one system to another like crazy! They never realise that all they have to do is pick ONE proven betting system and staking plan and STICK TO THEM LIKE GLUE! You don't need to do anything else!

 ...Have no concept of how a 'Betting Bank' should be used Most people don't use a betting bank and even if they did they don't have any real concept of how it should be used. A betting bank is simply a sum of money that you use for all your gambling activities. This money should be money that you could afford to lose if the worst happened. Of course, most people end up losing the lot and then some! The best advice I can give you is this... - START WITH A SMALL BETTING BANK (eg £50.00) - RE-INVEST YOUR PROFITS TO GROW YOUR BETTING BANK - INCREASE YOUR STAKES AS YOUR BETTING BANK INCREASES - PROTECT YOUR BETTING BANK BY USING A SUITABLE STAKING PLAN

Do all of the above and you have a really great chance of becoming a successful gambler.

...Desperately attempt to chase their losses! Most people will put 5 quid on a horse and if it loses they will double up and put a tenner on the next horse. When that loses they will put 20 quid on the next horse. This sequence continues until they are out of money. Instead of giving up they return the next day to repeat the performance. This madness goes on day after day throughout the UK and worldwide. If you try to CHASE YOUR LOSSES at ANY TIME then you are playing a VERY DANGEROUS AND COSTLY GAME! Don't do it!!

Use a sensible staking plan that prevents you from having to chase losses. I include such a plan in my private members area BUT it's worthless if you don't actually apply it!

...Don't study the subjects of gambling and betting You never stop learning, especially when it comes to the subjects of gambling and betting. They have fascinated me for years and they will fascinate you too, if you let them. My advice is that you take the necessary time to study the following subjects in more detail... - Different odds and how they are calculated - Different types of bet, eg. Each Way, Singles, Forecasts etc - Online Gambling, eg. Spread Betting, Black Jack - Arbitrage Betting (this means placing a bet that CANNOT lose) - Staking Plans and Betting Systems

...Don't treat their gambling as a serious business The bookies treat this business VERY SERIOUSLY and make millions in profits as a result, so why shouldn't you do the same? If you want to be a player then you should play the game exactly like the players do! So treat your gambling like a serious business because that's exactly what it is. Make sure you... - Keep detailed records of all bets placed - Know your total monthly and yearly profit/loss figures - Keep track of which bookmakers you have bet with - Have a separate bank account to hold all your winnings

If you don't do the above things then you are not really serious about being a professional gambler, it's that simple. So please make sure that you do them. The 5 keys to successful gambling are... Discipline Patience Persistence Dedication Knowledge ===================================================== Article contributed by: Daniel Nelson Daniel offers a staking plan at his website: http://www.bet2escape.com/ ===================================================== ...