Why Gamblers Lose

Gamblers loosing money is not a new concept since the vast majority of them do lose. Even with this loss, it does not keep them for betting again and again. If they happen to loss so much that they go broke, there is always someone else next in line to take their place.

It seem that poor money management is the main reason for most gambler to lose money.  Many bettors can pick winners but there are more of them than those who make money so money management is the key. For example, a gambler might bet fifty dollars on one game and five hundred on another and this is a big mistake. This is similar to betting half you paycheck on one game and this too can lead to a disaster.

Another poor money management problem is to double up after a win or after a loss and this is a mistake that is often made by bettors. And this goes for seasoned gamblers too.  If you have picked up a book on gambling then you have seen that at least one chapter involves money management. The authors add this chapter because it is important to know, not because they like writing about that subject.