Treating Gambling as a Business
The main problem most gamblers have is that they seem to throw out their money in the chance of winning bigger cash, but often go home broke. This is also the reason why there is a negative perception about gambling, while in reality gambling is a worthy investment. What people miss is that one only needs to be disciplined in gambling, and treat it like any other investment: and for that, a skill in controlling one's losses is needed.
Think about it: while investing in a business may seem more stable than putting your money in gambling, the profit and the opportunity of earning in gambling is higher. Because of its fleeting nature, gambling seems to be more risky. One puts in the money in a certain game, and the results are instantly there. But aside from the aspect of time, one would see upon closer inspection that investing in a business and gambling are similar.
As in a business, one needs to control one's losses. This may be done by committing to a certain amount that will serve as an initial investment. And like in a business, a meager amount as initial investment would result in bankruptcy, as you will not be able to maximize your chances at profiting.
Once you set up an amount that you will put in gambling, choose a field that you think is the most profitable. Oftentimes, this is where gamblers make mistakes, as many have the tendency to play different games in a single session.
There are many things to be considered when choosing a gambling game.
First is your familiarity and skill: if you are skilled in strategy games, say poker, then it would be safe for you to invest your money in those games; if you are not, then perhaps pure-chance gambling games suit you better, like slots and roulette.
Next is your bankroll, or your initial investment: if you have a small amount, then perhaps strategy games would be much better, as winning in these gambling games do not rely on how much you put in; if you have a huge bankroll, then pure-chance games may be your field, as winning on these games rely on how much you invest.
Perhaps the main idea behind investing in gambling is that one needs to be disciplined so as to avoid re-betting all of your winnings and risk the chance of losing them. As in a business, set aside your winnings and consider them as profit, and exhaust the amount that you assigned as initial investment first. After you have exhausted your initial investment, then you can consider re-investing your winnings, or a portion of it. Whatever your choice is, your goal must be to earn and bring home something.
Gambling is a serious and worthy investment. Treating it like a business would reap you the maximum rewards, as you will be sure to lose little and gain much. Commit to a bankroll and learn to exhaust it first, and keep in mind that your goal is to earn money, and not lose it. Through discipline and the proper investing skills, one would be sure to profit from this risky field.