Jan 5

What is Lay Betting?

Lay betting is a method of betting on the outcome of a event that you expect to lose.

Let me give you a example. If you expect a horse to lose a race you can back it to lose which is called laying.

Where can you place a bet to lose?

You place a bet on a betting exchange.

The most popular exchange is called www.betfair.com and there is also www.wbx.com

How much risk is there?

Like any form of betting there is a risk but you can reduce the risk though managing your betting. This is the key.

What I mean by managing your betting is;

  • log all your betting activities

  • have a method of selection

  • have a method of staking

  • have a bank for betting

  • learn to control your emotions

Betting can be bad for your wealth and health if you don’t follow the above suggestions !

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Jan 7

To people who don’t gamble, or more so to normal gamblers, the thought that they will progress to compulsive gamblers is ridiculous. The start of compulsive gambling may be incited by situations or circumstance. But the conditions are real.

What’s the similarity between pathological gambling and chemical dependency?

The first distinct similarity is the inability to take control or stop the addiction. The denials to the addiction accompanied by severe depression are also similarities. Both diseases are progressive in nature and goes through similar stages.

The first stage being the “chase”, looking for that high or win. The use of the addiction to numb the pain brought about by problems. The pathological gambler and a drug or alcohol dependent person are preoccupied with nothing else except their addiction. They look for immediate gratification and have very low self-esteem.

Pathological gambling not like chemical addiction is a disease not easily noticeable. There are a lot of indicators that would identify a chemically dependent person. But a gambler can exist normally for long periods of time. The large debt that a gambler can incur requires attention.

Pathological gamblers require crisis counseling at the start of their treatment, mainly because pathological gamblers have a higher suicide rate than persons addicted to drugs or alcohol.

Is the level of addiction for all types of gambling the same?

Forms of gambling that give immediate gratification are the worst kind. The slot machine and video are prime examples of these. The use of the instant gratification and effective reinforcement, gamblers that play these machines often progress into pathological gamblers more often than gamblers that play other games.

The time it takes to go from the first bet to a chronic addiction is shortest for this form of gambling. Before it would take many years before a person would be considered “sick” gambling in races, etc.  Nowadays, it is fairly common for a person to be addicted to a slot machine or video poker with two to three years.

Is pathological gambling biological in nature?

Recent findings would indicate that pathological gambling is a dependency quite similar to a chemical dependency. A study by a psychiatrist Alec Roy, M.D. formerly of the NIAAA showed that compulsive gamblers have low levels of norepinephrine compared to normal gamblers.

The chemical is secreted from the brain when stressed, aroused or excited. A pathological gambler engages in his addiction to raise the levels of norepinephrine.

The findings reinforce the assertion of Dr. Henry Lesieur that pathological gamblers are “thrill seekers” who gamble for the excitement brought about by the game and not the pursuit of money.

Jan 6

I was first introduced to horse racing by my grand father,he use to be a bookies runner and told me endless story’s of his time as a bookies runner. I had to place his bets as he was to old to travel and at the time there was only bookmakers shops to place a legal bet, there was no television at the shops just a person that use to write the prices on a large board as the audio streams came through to the shop.

I was a fruit machine freak and regularly use to blow a weeks wages in a few hours until one day a work colleague asked why not try betting on horse racing.

My first bet was a 5p Flag a bet make from four selections. The first three horse won and thought to myself this game is easy. I was hooked and I spent many hours looking though form books.

Now this is were the problems lies every night I would study for the following day racing. The day of the racing I would go into the local bookies to place the bets in my lunch breaks but!

Because there was no racing during my lunch breaks I spent all my betting money on the FRUIT MACHINES this was my personal demon. What made it worst was finding out that the bets I had laid out the previous night won,I was not a happy chappie.

Thank Goodness for the Internet.

I no longer needed to go into the Bookies.

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