It’s Still Your Money

It’s Still Your Money

One of the most common things you will hear said by people in the gambling world is something that will be along the lines of “It’s ok, it was only my profits”. While this may be true, that they are currently only betting with profits it is a very bad mind frame to live in and will always result in long term losses.

Ultimately your profit is still your money. Fair enough, it is money that you did have when you started playing today, but is now your money. Just because its profit doesn’t give you a license to do things you wouldn’t do normally. You would never get paid at the job you work at and do something stupid with all of it and say, “Its ok, it’s only my wages”.

People understand that they had to work for that money therefore it is now rightfully theirs now. However, when you win the money gambling, you tend to have a feeling that it is not yours because you won it and didn’t work for it. But this is a bad mind frame to be in and it is still, most certainly your money and you should treat it as such.

When you gamble, most people understand that the odds are stacked against them and without careful money management they will lose. It is how the games are designed. Yet there are still people around the world that make a living through gambling. This is because they respect their profits and understand that, that is now their money.

If you gamble and win a bit and now take too much risk because its “all profit” then you are going to lose that profit most of the time. At this point you have had your luck in getting into profit initially and the most likely outcome now is you lose. So you just went from being in profit, to showing a loss just because you didn’t treat that profit with the right respect. Does this narrative sound familiar? I am sure that it does, to many of us out there.

We have all done this but if we want to be successful in the gambling world then we need to learn to respect profits and make every decision with the cold precision that is expected of us when we decide to live in such a high pressured and emotional world like the world of gambling.

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