psychology of winning in gambling

[chedugudu_chidambaram]

Wow steady on tiger!!!! Before you think gambling is a dirty word! think again!!! How it’s a mug’s game right? how you can never beat the odds? and the percentages are always in the bookmakers or the casino’s favour right? or that you just ain’t that lucky or skillful at poker to make the big time?! or how you have to be some maths wizard to be a successful trader in stocks or FX?

Well think again bitches!!!! lol That’s all limiting beliefs that you hold! it is not the truth! How can Patrick Veitch win £10 million over 8 years on the horses?! a game considered to be showing -27% year on year? He is just a human being like you and me!! and whatever some else can do you can do!

What does poker, gambling on horses/dogs, lotto, scratch cards, bingo, casino games, trading in financial markets (FX, commodities, shares, indices), spread betting, football betting, etc, etc. All have in common? They are forms of gambling in 1 way or another. They all involve with you parting with your money in order to make more money. Even when your setting up a business that is considered a gamble because your not guaranteed to get your money back or make a profit.

This blog is about how to develop that winning attitude in risk based games i.e. gambling. I was motivated to write this blog after seeing so many of my friends gamble yet they don’t seem to be winning consistently. They have been doing the same thing over and over again over all these years yet they haven’t hit the big time! As well as being a life coach in my spare time I am also a badminton and a performance coach. I’ve been coaching my friend Grant get that winning attitude and my friend Kenneth has asked me to show him how to gamble on PB as he saw how much I’ve been making consistently. I don’t like to repeat myself so I am doing this blog to show people what it takes have the winning attitude.

What is it? what is the difference in winners who go on to make millions while losers never seem to win consistently? and big over periods of time?

Surely it can’t be because they got lucky one time?!

The truth is success doesn’t come by accident. It comes from consistent hard work in pursuit of a dream. It comes from a passion that drives you and it also comes from constantly and diligently employing some key habits that position you for greatness. This success comes from an innate desire to win. Gambling is by far the hardest and most toughest of professions out there! Do you know why?!! because it evolves you controlling your emotions!!! and it involves controlling your thoughts when your in the zone and your down financially. Do you have the patience and skill to keep it together mentally when your losing so much on the table? can you walk away and come back the next day just as strong and win twice the amount? See, when you lose your mind you lose your money! Big time! surely there must be a winning attitude and habit that winners apply right? I’ve considered this for a long, long time. I’ve studied the great minds of the best gamblers out there because I was sick of losing my hard earned money!! I was sick of cursing my luck and blaming others for my losses. The difference between you and Patrick Veitch or anyone else that has made millions from gambling is their state of mind! They think and do things differently, they have that winning attitude! Richness comes from the mind not the pockets!!

I am going to show you my top 10 tips/habits for developing that winning attitude.

1. Always gamble alone
Let no one cloud your judgement (that way you have no one to blame but yourself). Gambling is by far the hardest thing you will ever do if you decide to take it up seriously or if you like to win consistently. This is the golden rule: always, always gamble by yourself.

i) Never gamble against friends
My friends when they play poker in the casino, they like to sit together! WTF?!!! why??!! Your taking money off your friends! your going to fold to them when they bet big! but you could have the best hand too! however when your playing with money on the table, there is no friendship and your friendship will be slightly tarnished afterwards if you battle each other or you lose to him or her. I remember playing in a poker tournament with MJ a few years back. We were drafted on the same table. He raised after the flop came out, I folded the best hand on the table because I didn’t want his chips, everyone else folded. I could have won that pot!
Fortunately I don’t play poker anymore but if I did I would never play cash poker games against my friends.

ii) Never take anyone with you
I’ve known this for years, I never ever take anyone with me when I gamble. Past experience tells me it’s always a bad idea to go with someone or gamble together with friends, even though it’s against the casino. I’ve been on a winning streak of 40+ wins and 1 small loss of £60 since mid Jan but last week the gf was here from Slovakia and I wanted to show her how I make more money part time a few hours a week more then my actual day job. Big mistake!! as soon as I started losing I was under pressure and betting bigger and bigger and more frequently then normal! do you know what happens when you bet more frequently? you lose of course! it’s the same with trading stocks/shares or FX or going in with every hand in poker. That’s just gambling at its worst! it’s not calculated and your going to lose more often then not. Casino’s, bookies, brokers, indices, spread betting companies love these type of gamblers!! because they are the ones who lose the most! they hate those who do a few bets win and leave because they don’t make money out of those players.

iii) Go with Your gut
I’m a firm believer in trusting your own instincts. Intuition should never be underestimated. Of course, you gather all the information that you can before making a decision, bet or trade. That’s why you should always gamble/trade/play on your own so that no one can cloud your judgement or influence you. Your gut feeling is not an empty sense; it’s based on all of the experiential knowledge you have gathered throughout your years. It’s your sixth sense. Trust it.

2. Never gamble under pressure, any pressure
Time pressure, waiting for a friend, in a rush to be somewhere, trying to win any amount in a really short given time frame. You don’t need any of this! this type of pressure will make you lose the fastest in the shortest amount of time! There should be no pressure at all when you gamble or trade or play. If your out somewhere and in a rush to go somewhere. Don’t gamble! dont trade, dont go in the bookies and dont play!! I remember a few years ago I was trading on the New York stock exchange indices. Fairly simple really, you either bet it to go up or down. The kids come home at 4pm and they was hungry and wanted me to make them some food, problem was, I was in a position or trade. I had to watch it closely as in a matter of seconds or minutes I could be up or down. The pressure and their constant nagging got to me. In the end I made a wrong decision after wrong decision and lost about £500 that afternoon for no reason. I shouldn’t have been trading in the 1st place knowing that this type of pressure will get to me. Needless to say I never did trade again before they came home.

3. Be Frugal, keep records of everything
It pays to watch every penny. It’s important when it’s your livelihood that’s at stake, and it’s even more important that you watch what you spend as well as what you win/lose. Last year in some weeks I was spending £500-£800 per week (on food, drinks, going out, etc, etc) cos I was making just over £1000 a week. But some weeks or months when I was not making much or losing, where was my bankroll then? I think to myself why did I blow all that money away so easily? This year I think to myself, what’s the point of that? I might as well only earn £400 a week and spend less! So this year, I keep weekly records of what I spend done to the nearest pound. This builds good discipline! something you can’t buy in a shop! Money management is by far one of the most important habits/skills that you’ve got to look after. How do you know when you’ve become a millionaire if you don’t keep records? lol My friend Grant is an amazing poker player, he’s been at it for years. So I asked him the other day how much did he make last year or 6 months ago or 2 months ago? I couldn’t give me an answer! cos he never wrote it down! All professional gamblers write things down and they write it down daily if not more! you can’t remember everything!! Remember a habit takes 21 days to form but if you keep doing it daily for 21 consecutive days it then becomes a habit! A success habit that winners do! yes it’s a pain to write it down daily what you win/lose and spend but if you don’t, how do you know where your going? how do you know that your actually winning? or spending? or overspending? If you have ever wondered why jewish people are so rich it’s because they keep a record of what they spend. They are not frivolous with their money. Be smart and disciplined, keep daily, weekly, month and yearly records of winnings/spending.

4. Have Good role models
Learn all the time but learn from the best! if they are making millions or hundreds of thousands of pounds. What do they do? how do they think? you need to model yourself on them! Patrick Veitch said (in his book ‘Public Enemy number 1) “The difference between me and the 99% of the people out there is my state of mind” i.e. he can control his emotions. Do you know why Patrick is my role model? cos he fecking succeeded in something I failed miserably at!! lol I have lots of role models like Gurbaksh Chahal and James Caan on LinkedIn. Once you have good role models, learn what they do and do the things they do, you will gain their mentality and way of doing things. It doesn’t matter if they are in different fields or area’s of expertise to you. Your looking to adopt their mentality! In NLP this is called mirroring, and it works! If I wanted to a be a professional poker player, I would read more poker books of the best poker players out there and learn their strategies. Why wouldn’t you?

5. Have Goals
Where are you going if you don’t have goals? what’s the point of winning if your not saving? how can you save if you don’t have a goal of saving a certain amount every week or month? My goal is to make £500-£1000 per week and to save a minimum of £800 per week. I have weekly, monthly and yearly financial goals too. I have a daily entry and exit goal amount too. So if I make £100 an hour trading. I am happy with that, I am not greedy. 5 hours = £500 per week. Where else can you can make that kind of money part time? some days I can make £300 in an hour, so I know I don’t need to trade or go again til later in the week. I am not saying I make that all the time but if I don’t have a goal of how much I want to win before I go, whats the point of going? The only point is to win! and to win, you’ve got to have a minimum goal of how much you want to make. I don’t need to go every day. I am not an addict. Having goals will keep you focused and not greedy. When greed gets to you, you will end up losing! Just the other month Grant was telling me he came 2nd in a poker tournament and made/won £500. He then went to play cash games… guess what happened? yep he did his nuts!!! lol Can you see how stupid that was? 6-7 hours of hard work down the drain. If you have goals it will keep you eyes firmly glued on your target or end result. Don’t deviate from achieving that goal.

6. Have a Laser-Like Focus – Be ready for battle. Never gamble/trade/play when your tired
Never lose sight of the ball. Never gamble when tired. Do top athletes go out drinking, clubbing or have lack of sleep before a big competition, race or event? of course not!! So if I am slightly tipsy or had a few beers I never gamble. Or if I am tired. I won’t go and play, it’s as simple as that! If your not 100% focused and concentrated it doesn’t matter if you have £1000 or £10,000! you will lose the lot because you don’t know what your doing! if you are 100% focused, have a strategy and in control of your emotions you can turn £60 into hundreds of pounds if not thousands! That’s why I say Richness comes from the mind! It is the way you can control your mind that will determine if you win or lose.

7. Do What You Do Best
Concentrate on your strengths. Understand and utilize your God-given talents. Don’t let success go to your head. Focus on improving the ability you have in your own niche. For years I gambled and lost ten’s of thousands on the horses. Last year MJ drilled it into my head again and again and to stay away from the horses. He could see I was throwing my money away. He told me to stick to PB (the game I trade or play in) because it’s 50/50! eventually it did get into my thick head that I don’t have the time or the patience to win on the horses. So i just stuck to 1 game and 1 game alone. Guess what happened? not only did I start winning huge amounts from small stakes but I was winning consistently!! something I could never do with betting on the horses or the dogs! I don’t play poker, I don’t play blackjack, dice, I don’t play on the machines, or any other casino game, I don’t trade stocks/shares, FX, etc, or bet on the horses/dog. I stick to 1 game and 1 game alone, I don’t even play that game I play in certain casino’s cos they don’t have enough decks!. I do what I do best! and I stick to it.

8. When things aint going well, take a break
Do not chase your loses. Have a staking plan and strategy. When I play, I take a small amount and no credit or debit cards with me. If I lose that amount I detach and come back in a few days time. I know what I am doing. Losses are going to happen and it’s how you cope with the loses that really matters more then anything else. I dont get excited or happy when I win or lose. Do you know why? I’ve taken the emotion out of it. So it actually becomes more of a disciplined way of calculation rather then a gamble.

9. No Neg talk – words have power
Last year I use to curse and swear every time I placed a big bet and it lost. I would say like ‘I never fecking win!!’ over and over again. Do you know what that does? It tells my brain that I am not going to win! yet I carry on with this negative talk while I carry on playing. Guess what happens? yep I eventually lose all of it! and I wonder where it went wrong??!!! now I don’t say anything. I don’t think anything (I don’t expect to lose) and don’t shout at the top of my head if it does win!. I just keep silent regardless if it does win or lose, focused on keep calming and not letting the pressure get to me. My friend Grant has the same problem. He’s a good poker player but he talks too much sometimes. Sometimes he winds up players that ain’t as a good as him. You can imagine what happens next right? they start playing or calling hands when they should have folded but because he’s wound them up, their ego and pride gets in the way. They don’t care if they lose, they just want to get him (his money) and a few weeks they got to him financially. Question, whose fault was it? his or there’s? lol

10. Keep your feet on the ground – be humble
I say 2 things to myself all the time and I say the same thing to Grant and everyone else that gambles, trades or play:

‘Keep your ego at the door’
See a lot people let success get to their head (when they haven’t even made it!), they start acting big shot and acting like they are pro or high roller and spending loads. They don’t even have £10K in the bank! and some don’t even keep records! I have a friend of mine called Mark who is a multi-millionaire trader, yet you wouldn’t know it be looking at him. He’s so humble and down to earth. He’s so disciplined and calm. Yes he has a real nice big house, goes on lots of holidays but he doesn’t let the money or the ego get to him. He wears plain normal casual clothes and he wears a £30 plastic watch cos he likes the look of it! He doesn’t flash his cash! he’s got nothing to prove to anyone but himself. I never tell anyone how much I win or lose. I keep my ego at the door because I know from experience that when my ego gets in the way it can quickly go downhill. I am humble and grateful for every single penny I win.

‘2 things define you, your patience when you have nothing and your attitude when you have everything’ – Zig ziglar
Don’t let success go to your head. Success is a process not an end result. The truth is gambling is not for everyone, it requires far more discipline, patience, skill, persistence and determination then anything you will ever do!. Being persistent is a quality that cannot be over-estimated and if you want to make gambling work for you, you’ve got to be persistent. Many people make the mistake of giving up at the first major setback. The one surefire thing I can tell you is that there will be many setbacks and many low points before you reach even a glimmer of success. The quicker you can dust yourself off and put one foot in front of the other, the sooner you will achieve your desired end result.

Gambling is not for everyone. I just wanted to share with you what it takes to develop a winning attitude to succeed at gambling. Sure there’s other tips and strategies for making money by gambling but I read somewhere recently that winning is 99% psychological! I’ve shown you some of the habits that make it psychological 

Til next my friends. Take care of yourself, your friends, your family and your mind 

[tennisluvr]

Good article, are you a professional gambler yourself? 

[Raithu_bidda_]

2. Never gamble under pressure, any pressure

this is  true 

[chedugudu_chidambaram]

8 minutes ago, tennisluvr said:

Good article, are you a professional gambler yourself? 

not yet buddy.. travelling towards that. I have good strategies.. patience and discipline in the zone.

10 -20% returns in 1-2 hours with 97% probability strategies. 

 

 

[Raithu_bidda_]

Just now, chedugudu_chidambaram said:

not yet buddy.. travelling towards that. I have good strategies.. patience and discipline in the zone.

10 -20% returns in 1-2 hours with 97% probability strategies. 

 

 

Vadu ra ayya naa mata vinu 

[chedugudu_chidambaram]

1 minute ago, Raithu_bidda_ said:

Vadu ra ayya naa mata vinu 

nuvvu aa pic marchu mundu lekapothe replies pettoddu bava... kampanam ga undi.. politial p ics pettukokanid vayya

[Raithu_bidda_]

2 minutes ago, chedugudu_chidambaram said:

nuvvu aa pic marchu mundu lekapothe replies pettoddu bava... kampanam ga undi.. politial p ics pettukokanid vayya

Ok bring back babus brigade 

[tennisluvr]

6 minutes ago, chedugudu_chidambaram said:

not yet buddy.. travelling towards that. I have good strategies.. patience and discipline in the zone.

10 -20% returns in 1-2 hours with 97% probability strategies. 

 

 

Poker or Blackjack? Or anything else? 

[Roger_that]

6 minutes ago, Raithu_bidda_ said:

Vadu ra ayya naa mata vinu 

nice DP... HB YSR

[Raithu_bidda_]

3 minutes ago, Roger_that said:

nice DP... HB YSR

Before I used to hate him kani poyake value telsindi how he succeeded in his life ani 

[chedugudu_chidambaram]

7 minutes ago, tennisluvr said:

Poker or Blackjack? Or anything else? 

Craps (pachikalu)