I do not want to sound professional by way of definitions here but just to give as much as possible a graphic view of how the two keywords, gambling and betting, relate in the world of sports.
Gambling generally refers to an activity where money or something of material value is set aside for two parties to predict the outcome of an event and the one whose prediction coincides with the outcome takes the wager. The outcome of the event is evident within a short period of time. Gambling takes many forms including lottery, casinos and any other games of the like which leaves the winner getting additional money or something of higher value.
Betting is a contract usually between two parties, where it is agreed that any of the parties will forfeit money or something of material value if that party makes an incorrect prediction about an uncertain outcome. The exact money or its value is known and it is most often contributed before the outcome of the prediction.
Is there really any difference between these two terms? Though we most often interchange the use of the terms gambling and betting, I personally see some slight difference. I see betting as a subset of gambling for the latter is a general term which does not connote any legality to be tendered in the courts should the need be.
Betting is most often found in various sports activities including NBA, MLB and NFL. People are really making regular incomes from bets and you will love you did.
Even the most unsophisticated traveler makes some kind of plan before taking a trip. Whether it’s a day trip or two-week voyage, making a simple checklist of what to take and what to do on your trip can make it a success or not.
So why not make a similar plan for your gambling trip? Shouldn’t you know what to take and what you should do to make this trip successful? Call it a game plan if you like, but the professional gambler knows precisely what he wants to achieve on his trips to the casino and what he needs to bring to win.
That said, I have found two types of game plans for you to consider. The first I call The Day Tripper game plan. This is for the player who is going to the casino just for the day. He is not looking for entertainment. He is simply looking to hit the tables, win some money and then go home. Typically these players live a couple of hours from the casinos and look at gambling as a business. If they plan their day right, they consider their time in the casino as their time in the office.
The second type is The Vacation game plan. This is for the player who is going on an extended trip where gambling is always present. A boat trip, a stay on a Caribbean island or a trip to Las Vegas fits this category. Gambling is mixed with a vacation and can lead to many hours in the casino.
Unfortunately, The Vacation game plan rarely leads to success. This is because no matter what your plan, the compulsion to play usually wins over time. You cannot really follow any sound departure rules because you cannot escape the casino. Below I present a typical Day Tripper and Vacation Plan for your review. They provide sound advice for each type of trip.
Never bring more than two buy-ins.
Never play more บาคาร่า than two sessions if you are losing. Always play at your unit size. Increase your unit size only under very strict conditions when looking to win back money.Follow departure rules. A good winner is a good loser.Never allow yourself to lose big.Leave yourself enough time to gamble at a normal pace. Don’t rush your gambling because you have to get back home.
VACATION PLAN Always bring a bankroll for your total time on vacation.
. Make sure your bankroll is half or less of what you normally play. Therefore, if you play $25 units, then bring a bankroll for $10 units.
Know your win goal for this smaller unit. You can play many sessions. You must take some kind of break.
Follow departure rules to the best of your ability.
If you play more sessions at the lower level you will win as much as your normal unit but without the added risk.
The Leonard Benson Company – Your partner in winning!
First of all lets have a look at the definition of gambling;
– to play at any game of chance for money or other stakes.
– to stake or risk money, or anything of value, on the outcome of something involving chance: to gamble on a toss of the dice.
So in a word gambling is a game of complete chance, if you where to bet on the forex market with no knowledge or no available technical or fundamental data then that would be gambling. It would be like having a deck of cards showing a 7 then picking whether the next card is going to be high or lower to that 7.
On the other hand if you have the means to have technical and fundamental data at your finger tips and the knowledge to use that data then you would be taking out the chance element, hence it would not be gambling but speculating. The definition of speculating; to engage in any business transaction involving considerable risk or the chance of large gains, esp. to buy and sell commodities, stocks, etc., in the expectation of a quick or very large profit.
It seems to me that forex trading is no more a gamble than buying stocks and shares and there are people that are very good at this trading activity and make huge amounts of money from it’s speculative outcome. It is a matter of gaining the knowledge to be able to make educated decisions in which way you think the market is going to go.
There is plenty of information available on forex trading strategy on the internet in the beginning stages it is worth having a look and practicing with a demo account in a live market to see if your theories are profitable over a period of time.
Adam had been trading forex for 4 years with little success. Adam originally had no knowledge of the forex markets so he joined Colin Atkin’s private members club. Colin is a professional trader who shares his trading live, over a webinar three times a day 5 days a week, all you have do is copy what he does and take the profits. Since Adam joined Colin he has had the money to invest in other projects and gone on to be a successful full time forex trader and internet marketer.