There Is No Fool Like A Careless Gambler Who Starts Taking Victory For Granted. – Hunter S. Thompson

How to Lose a Million Gambling

People gamble for a myriad of reasons. 

It may be a reason you haven't yet discovered, appreciate or understand. That sentence may  seem ridiculous. 

''I bet to win money!'' 

I guess that's the logical reason but if you get beyond the surface structure of anything there may be more to it than meets the eye. For most gamblers who bet a few quid here and there it might not matter. Although even a few quid lost each week can be a lot of money over a lifetime. I'm not going to tell you what to do. You're a grown up, you do as you do. I hope for your sake, especially if you have a family, you're responsible. 

I don't want to lecture anyone. I respect people who like a bet. I mean, I've been betting just about all of my adult life. It's something I have thought about much, considered wisely, and appreciate the pros and cons. 

Unlike many who bet, I'm not naive. 

Having little understanding of anything can be dangerous. You don't have the experience to appreciate why something is a terrible idea until you are in the middle of a problem which may change your life for the worse. 

To be fair, the majority of people I know don't bet big money. They don't bet big money because they don't feel comfortable pushing their luck. It's all about doing what feels right for you. It's your money, your life, and I respect that. 

In fact, I would never suggest anyone has a bet unless they appreciate the pros and the cons. 

The difficulty with that perspective is that for the newbie gambler that isn't going to happen. I very much doubt it is the way you started gambling or me. Even with myself being a very careful gambler in my younger years, how could I be anything but wet behind the ears. 

To be honest, as with most things in life, we need to learn a few lessons and those experiences are often needed to keep us on the straight and narrow, and perhaps although costly at the time, were a valuable if not cheap lesson to learn from. 

Who wouldn't rather learn a lesson for £5 compared to one that costs £50,000?

I've seen a few big bettors at the casinos. 

You get a strange mix at these places - form the celebrity, to the down and out, to the rich and those who just fancy a night out and bit of fun. 

Good luck to them all. 

I've seen a few gamblers who wouldn't bat and eye at betting a grand on the spin of the roulette wheel. 

I don't think it's the best idea. 

These bigger money gamblers have a very strange character. I can only describe them as emotionless. That worries me. It's a strange contrast when the bloke next to them is huffing and puffing at the loss of £50 when their grand went down the chute with it and you could have sworn they lost a tenner. 

Don't fall into the trap that the more someone bets the more they know. 

It's often the reverse. 

Anyone who bets at the casino - unless they are cheating or card counting or have some knowledge that isn't the norm - knows they are betting on fixed odds. The house edge is there to guarantee one person a profit. 

The casino. 

Not to say you cannot increase your chances of winning. 

However, that's a story for another day. 

If you are one of these bigger gamblers at the casino, even if you have a bucket-load of cash, you need to stop for a moment and think what you are doing.

Because my ten pound is your thousand pounds. Meaning, your normal bet is a grand and you bet like its a tenner going out of fashion. 

Believe it or not, but it doesn't take long to lose a million pounds gambling. 

In fact, it can happen in three or four years without too much trouble at all. 

Just because someone at the casino is betting a grand a spin doesn't mean they are a professional gambler, knowledgeable, sensible, astute, or any other word which gives the impression they know more than Joe Blogs nursing his stack of 50p chips. 

To be fair, the bloke betting the big money isn't doing himself any favours at all. 

And time may tell they lose all their money. 

You've heard of the big-time gamblers betting millions and then someone spots them driving an Uber cab because their broke. 

Or worse still, the random bloke who jumps off a multistory car park.  

At least if you gamble with little you may have a lot to gain. One thing is for sure if you are a millionaire the last thing you ever want to do is gamble big money. 


You have nothing to gain and everything to lose. 

Gambling isn't really the problem. It's the gambler who is so often the problem. And I can tell you this, if it wasn't gambling it would be something else. 

The wise man built his house upon the rocks. 

If you don't understand the good, bad and ugly of gambling - just give it some time. But you'll only appreciate what it is saying to you if you really want to listen. 

Gambling is no different to any business. While someone is going broke, that clever bloke down the road is making a killing. 

It's nothing to do with gambling - it's all about the person. 

If you want to make money gambling you need to start from small cash because you will appreciate the money you win. 

If you're a millionaire with a love of gambling then do yourself a favour and bet like your the poorest person in the room. 

Read our last post: Betting Like You Use Brut

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