Gambling Advice / Experiences

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mufc--peddlers cross

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Jul 13, 2011
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I'm a first year uni student and though I have been punting for a good few years now, I do not have nearly as much experience as some of the members on here!

I have had a torrid couple of months despite lumping on Somersby in the VC and a few other big winners including Tatenen and Tara Royal in the last few weeks. My problem seems to be a lack of selectiveness - overbetting and loss-chasing is all too common and has unfortunately seen me in quite a bit of debt.

It seems I will have a very quiet Cheltenham unfortunately and will have to be working quite a bit of overtime as a result, so in my period of attempted abstinence I was hoping those forum members who have seen it all before might be able to share any advice they have gained throughout their punting career!

Hopefully this thread can also help other forum members who sometimes find themselves in the same position. Thanks!
 
Being 25 myself Im not experinced compared to some of the members, my old man always said bet what you can afford to loose (easier said than done i know) but I have always stuk to that and have never got in a situation but chasing your bets is a massive no no- you will just go wrong. If you bet online set yourself daily/weekly limits! Thats what I have done and it works a treat! it wont let you bet! and if you wana have abet and dont really know who to back or have a couple of fancies just follow peoples tips on here and you wont go wrong! lol
 
Im quite bit older than you guys and and i do NOT bet anymore! Im an ex-gambler and ive lost lots of money over the years,but not from horses but other thing..but thats by the by.

The best bit of advice i would give anyone is to firstly admit that they have a gambling problem.Trust me there isnt any shame in that.
Overbetting to chase losses is systematic of a gambling problem,plain and simple.Setting yourself betting limits is systematic of people who do not have the self-control to manage their finances in the correct manner.You have now got yourself into debt because of gambling.But you need to know that that money is gone now.You cannot ever get it back!

I speak to you from the heart mate,you are young and you really do not want to be in the same situation 10-15 years down the line.I know from personal experience.

Im sure you havent told any of your close family i assume.All compulsive gamblers dont at the start.But a problem shared and all that...

You dont have to bet to enjoy horse racing,i get more pleasure just watching than i ever did betting.I can give you some useful websites to help you if you want.Just PM me....good luck
 
Wise words DBF.

I have a close friend who was a partner in a law firm and married with three kids who is now working for the court service,skint and divorced.He still gambles.Anyone in the legal profession will know that it is almost unheard of for a partner to be demoted save for severe professional misconduct.He simply spent all day reading the RP and failing to execute his duties and more importantly to bill his/the firms clients.

Including what he gleaned from his fathers untimely death at age 50,he has lost a seven figure sum.FACT.

He still owes all of us,friends,various sums which we will never see.

He himself had a serious cardiac event at age 39,on the same day Moscow Flyer got nutted at P'town at long odds on to lose his first completed start..I know the events are linked.

He sought treatment but dismissed it,total denial..still in that phase.

I've never has a problem but like a punt and back heavily on occasions.My system is simple,only bet when you think you can win.That may be twice a week,a month or twice a day.

I love watching racing whether I have a bet or not which helps and also tees ones knowledge up for future investments.The individual I alluded to knew nothing about racing or had any great love for it...he just liked to gamble.

He never had a bet whilst he was a student and his destructive behaviour only manifest itself in his mid twenties.

I had to lend him £20 six months ago to put £10 of fuel in his motor and buy the kids summat to eat..that was his weekend to have them and treat them.

Destructive condition...I just wish he would face up to it because,although hard to extract from my brief synopsis,he is a good guy and my friend.
 
MUFC,

As a graduate as of last summer, I can relate to a lot of what you have said. I'll be quite open here that I ran into some very bad problems in my last year of university through stupidity and what I call 'betting for the sake of it'.

Firstly- the biggest step you have made is looking in the mirror and saying "hang on a sec, I've got out of hand, let's seek some advice". The honest man is the one who will do well and will be able to walk away.

You will not be and 100% are NOT the only person on this forum with an issue- no one owns up but the biggest winner in horse racing is the bookmaker, and thats a fact that has stayed the same for decades. So forget any ideas of horse racing being an 'income'. It isn't. It is a social sport for entertainment.

One thing I have noticed following racing these last 2 years- there is always another 'big' race to look forward to and when you think "I'll quit after Cheltenham", you'll run into Aintree 3 weeks later, then after that you'll be tempted by the Guineas, then the Derby, and before you know it you've gone from 'ending after Cheltenham' to betting on and following Cheltenham, Aintree, Royal Ascot, The Guineas and the Derby. Seriously- there is ALWAYS a race to be hyped and you must remember that the actual beauty of this sport is not the money. The best feeling I have ever had is watching Kauto Star win the 2011 King George without a penny on him. It taught me a big lesson- just because you can bet on a race doesnt mean its compulsary!

Racing is also a sport where before you know it, you'll be saying 'if' and 'but' all the time. One minute you'll fancy a horse, change your mind and then it'll hack up and you'll be kicking yourself and feeling as if you cant rest until you 'win' that mythical money that you **should** have won back. And of course, trying to chase losses back- thats the biggest addiction and problem. That is where I went so, so wrong.


Since graduating, I've got a good job and the financial pressures are no more (I'm not rich, but a damn sight healthier now with a regular income) and therefore all of those 'what if id have backed so and so id have had £80' or whatever are no longer important.


And can I give you the biggest and mot important bit of advice, and one of my biggest regrets?

-You are a young person who should be going out and living uni to the full making friendships and having a blast and learning some life experience. Horse Racing will always be there. But believe me, you will never ever be an undergraduate again. You cant make up that time- maybe have an interest in racing when you're in a career and can afford a cheeky tenner here or there every couple of big meetings. But for now- go and write yourself a chapter in your life. Forget the Nags. I know it sounds hypocritical in the sense that I wasted a lot of my final year in racing and still follow it now, but for the first 3 years of my studies I wrote one of the best chapters of my life, and it is memories that matter in life mate- not a winning bet at Cheltenham, because that pales into insiginificance.

I've changed my focus these days, and as most people on the forum will vouch for, I've spent the majority of my time since September focussing on the March Cheltenham meeting. I have had far more fun and good debating by contributing articles on that than I ever had when I used to bet daily instead. These days I go to work midweek and dont think about racing, I just come back and in an evening have a chat about Cheltenham.


You've already done the most important thing- you have realised. It's only racing, and believe me, you won't miss it. Once you have had a few weekends where you havent had a bet, you start to realise that the betting part is actually insignificant and you dnt miss it.

Feel free to message me any time, and I'll always be there to listen.

-Top
 
One thing I wanted to add was regarding the chasing of losses.

Consider the big picture for a second- Does it matter that you have lost money? Are you the first person to have done this? Does it make you a terrible person?


And then consider this: Does my future matter to me?


The answer to the first set of questions is NO.


The answer to the second line is YES.



You can walk away from racing for a while, enjoy your studies, get a degree, get a career, and come back with a good job and enjoy a flutter on the Championship events here or there. By that point, any losses wouldnt have affected your life adversely, not one bit!- you'd have still lived your dreams and you could also be an owner of the been there got the T-shirt club who come out on the right side.


If you can accept losses and make tomorrow better, yesterday wont even matter. It will just be another lesson in lifes rollercoaster.
 
I concur with all of the above comments.Especially about that part of living your life,but not only for the here and now but more importantly the future.You dictate the future,nobody else mate.Forget about horse racing or whatever triggers off gambling.These things are inconsequential in our lives,and ultimately dont mean a great deal.

Here is a link to a site that i have used in the past.There are 20 questions on there that you need to answer.But please answer them as honestly as you possibly can.

http://www.gamblersanonymous.org.uk/

And dont ever ever be embarrassed to say that you cannot handle a particular situation,whatever that might be.But because wherever you turn there is always someone in the same boat, who will always be there to help you.
 
Extremley sensible and wise words, i agree with everything you both have said.I think every1 should take a minute every now and then just to stop and think...
 
People say that a profitable gambler, is someone who studys, and interpretates the form well, this is true in some ways. But being a good gambler is largely in the mind. The problem with alot of gambler's is they have no self control, so when there a few quid behind they will have a bet on the next race, without putting any thought into there selection. I know as I used to do just that, the key to it is if you have a bad day, don't just bet for the sake of betting, sleep on things, and wait for horse's that you do actually fancy on other days, to recoup losses.

When you've lost alot of money, is when you are at your most voulnerable, your not thinking straight, so don't bet again that day, wait for another day, when you've had time to think about things. The problem is it's not easy just to stop betting when your behind, it takes alot of self control, that's why it's all in the mind. Even the best gamblers have bad runs, but it's how they control themselves on a bad run, which determines wether there a good gambler.

If your not able to control your emotions, and you lump on the next even money shot, everytime your behind, then maybe you should just give up gambling. Being selective is what its all about, don't bet for the sake of betting on a race, as you will just get further and further in the sh1t:biggrin:
 
Thank you all for the replies - they are a great testament to this friendly forum.

In a way I am glad that gambling has taken me into debt now - with no others to financially support the money I have burnt would have at best been spent on unnecessary amounts of nights out, alcohol etc. I have envisaged many a time my life in the future, and I know that to properly enjoy and fulfill it, regular gambling cannot be an option. Thank you Dexter for sharing the story of your friend as that really hits home exactly how I do not want my life to end up as, with no disrespect to your friend.


I have yet to look at the website you linked to DBF but will make sure to check it out in the next few days.

Closing my online accounts is something I will be doing in the next couple of days too. It's funny how money becomes more worthless to me when it is numbers on a screen as opposed to cash in hand! And I understand completely what you are saying Topclass about enjoying uni life - I have a pretty good social life in general but gambling losses have recently led to me going out less and less.

The main problem I am finding is my love for the sport - Sports in general take up a large chunk of my interests in life but probably none more so than racing. I will not be able to decrease my interest in the sport with much success, but I guess now is the time to realise that if I want to continue with the joys of horseracing, then gambling will have to take a back seat.

Once again thanks for the replies and any more experiences or advice won't only help me but I am sure others on this forum too.
 
mufc--peddlers cross said:
Closing my online accounts is something I will be doing in the next couple of days too. It's funny how money becomes more worthless to me when it is numbers on a screen as opposed to cash in hand!
Click to expand...

That's a big danger with online gambling. At least when you're in the bookies or at the track handing over crisp tenners you have a feel for what your gambling. But online you just type in a few numbers and off you go. Very dangerous. Those opt-out clauses with the online bookies are good though - I've closed down accounts with Betfair, Paddy Power and Bet365 and they don't let you back in <ok>

One thing that I found helpful was entering the competitions on here - that way you can still test your skill and judgement but there's no cash riding on it.

I'm now a weekends only gambler and have my very specific rules and limits. The only time I change that is for Cheltenham. One thing I need to get better on is banking winnings though - too often I sit on a good pile of winnings and get tempted to go for the big punt - and end up losing most of it. But at least that's only winnings that I've lost again - comes back to betting what you can afford to lose <ok>

It's also good to know your strengths and weaknesses - I'm pretty good on the National Hunt but rubbish on the flat. One of my recently adopted golden rules is that I won't have a serious bet on the flat before Royal Ascot - the form is just not reliable. National Hunt pattern races are probably where I do best so I will adjust my stakes accordingly. Where I do worst are flat handicaps and I can happily ignore them all day :)
 
A good thread.

Gambling is always going to cause problems if you allow it too, its like drinking and many other vices in life. Personally I admit that I have spent too much in the past and its something that you have to control, and that is the issue that many punters have.

I now have a separate bank account for my punting which I add a set level of money to each month and I have targets for the account over time. I let my wife assess the account and that works really well as a way of accountability. The next thing I might do is to get her to assess my punting, but that may hamper the way I bet.

Its all about knowing your limits and not spending money that you would rather spend on other things.
 
great thread. only thing I would add is that similar to odddog I sit and punt away what I've won if I don't remove it immediately. so I try to do that. o and for anyone living near London there's a national problem gambling clinic, easy to Google, which my girlfriend used to work at which is very good and has some very smart committed people working there. shame its on such a small sale cos the internet is gonna cause a ****load of problems that haven't even started to be seen yet.
 
Good thread <ok>

does getting a loan off wonga at 0.35 am on Saturday morning so I could have a punt online yesterday mean I have a gambling problem ?
 
1. Make a record of your bets. It is all to easy to remember the winners and forget the losers.

2. Decide what bets you want to have after studying the form. That way you go into battle with a set number of bets that you actually fancy and avoids the temptation to chase losses if they go awry.

Agree with Shergar that it is in the mind. I remember reading Patrick Veicht's book and he says you need to have the ruthlessness of a murderer and the clinical control of a brain surgeon. You have to be brave and bold, holding your nerve, but have strict controls to ensure you never go off the tracks.
 
Some great comments here.
Racing/gambling should be fun, if you get to the point where you're betting but not enjoying the experience then you have a problem, identifying the warning signs as others have said is key.
When I first started gambling (mid 80s) there was no credit betting, no spread betting and no exchanges, you wanted a bet you had to get off your arse and go to a bookies, there wasn't even any telephone betting, that didn't come in until around 1990 believe it or not. It was easier to control, if you'd spent what was in your pocket you couldn't bet anymore simple as that, there also weren't a ton of cashpoints on every street corner so out of banking hours it wasn't always easy to get hold of money, I do think problems have been created by the ease in which you can get loans/overdrafts and of course credit from bookies - I had a £1000 credit limit with Tote for years then around 5 years ago they wrote to me congratulating me on my 'promotion' to executive level membership or whatever they called it and an increase in credit to £5k - I didn't want it neitehr did I ask for it, they just gave it to me.
So be sensible and be disciplined - stories like the one Dexter tells are common place these days, I myself had a friend who in the space of 3 months won in the region of £50k on horses, got 5 and a bonus number up for £98k on the lottery, gave up work to be a full time punter and within weeks he;d done the lot, had loans of around £30k and debts of a similar amount, 15 months in Dudley (rehab clinic) still didn't work and he continues to self destruct.
Good luck
 
OddDog, good call on entering the forum competitions - I will make sure I start doing that.

Up until Cheltenham I'm going to give myself an imaginary balance of 200 pounds and, being as selective as possible using a points system, see how I do. I think it will be a very worthwhile exercise and I'm sure it will be more enjoyable than using real money!
 
No offence MUFC.but entering forum comps is fine in principle.But as strange as it seems it is gambling.Compulsive Gambling isnt about winning or losing money.... that's just a secondary effect.Its the fact that it dominates your life,and you dont have the self-control to be able to stop.

If you DO feel like you may have a problem,you need to distance yourself with every aspect of makes you gamble.Whether that be bookies,online bookies,forums like this etc etc.Anything that may trigger it,needs to be avoided!!

Because entering free comps WILL lead to more.Someone posts a "Dead Cert" tip on here,and a slight moment of weakness and back to square one you go.

Distancing yourself from negativity and concentrating on more positive things,as well as seeking help is the only way to do it in the end
 
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