7 Common Gambling Biases You Need to Avoid

We all deal with biases—sometimes without even realizing it.

If you were asked to recall everything from last week, last month, or the past year, how much detail could you truly remember? Odds are, you’d recall a handful of standout moments that felt important to you and forget the rest, especially if it wasn’t recent.

That’s just how our brains work. We tend to hold onto recent events while older ones fade, and this selective memory impacts how we approach decisions, especially in gambling. 

You might think, “Chelsea’s lost five matches in a row, they can’t lose again!” But that type of thinking, driven by emotions and bias, rarely ends well.

Even if some believe gambling doesn’t contribute much to society, it gives us an interesting glimpse into how human psychology and emotional decision-making unfold under pressure.

Let’s have a look at seven cognitive biases in gambling you need to avoid.

1. Gambler’s Fallacy

This kind of thinking is a major mistake, especially in a random, unpredictable environment like gambling. Take the earlier Chelsea example: just because they’ve lost five times, doesn’t mean a win is “due”. You’re falling into the trap of seeing patterns in past events that have no real predictive power.

Now imagine an even more random scenario—slot machines. You’ve lost hundreds of dollars across your last 10 spins. 

With only $20 left, you start thinking, “Surely, this next one will hit.” But it doesn’t, and it’s not because anyone’s against you—it’s just that past losses don’t increase your chances of winning.

Each bet is its own event. If you can start understanding that the outcome of any bet is independent of the last, you’re already on the right track. Focus on probability rather than getting caught up in streaks.

2. Confirmation Bias

Our minds are incredibly powerful, like a fisherman’s net perfectly designed to catch only the fish he prefers, while filtering out the ones he doesn’t want—crayfish, tilapia, the works.

We all fall into this trap. It affects different aspects of life—politics, work, and, yes, gambling. We tend to seek out and hold onto information that supports our beliefs while discarding any evidence that challenges them as if it were a virus.

For instance, a game is about to start, and you see gamblers clinging tightly to their predictions. They cherry-pick facts or trends that confirm their stance, often overlooking data that could point to the failure of their bet. Meaningless trends become truth, while contradictory facts are conveniently ignored.

It’s like being convinced the iPhone 15 is the best phone ever based on five sources you like, even when someone presents 30 sources to prove otherwise—you wouldn’t want to believe it.

Fighting confirmation bias is hard, but mitigation is possible. Regularly challenge your assumptions by reviewing objective data and considering opposing views. That’s how you grow.

3. Recency Bias

If your neighbor asked you about the fastest route from Birmingham to Liverpool, and you’ve driven there recently, you’d likely recommend the familiar route that takes about three hours. 

Even though there’s now a faster route via the M6 north to M62 westbound, which cuts it down to two hours, you might not mention it because you’re used to the old way—“it’s what you know”.

This reliance on what’s most easily recalled can lead you astray.

This tendency is often seen in gambling, too. We can get swept up by recent experiences, like a team winning several matches in a row, and base our choices on that streak rather than taking a broader view. 

For instance, Liverpool is currently in great form, with a solid winning streak of 18 points from their last seven matches in the Premier League. You might back them heavily based on this dominance while ignoring other critical factors like injuries or tough upcoming opponents that could break the streak.

You are better off making decisions based on long-term data rather than recent streaks, just as you’d re-evaluate your route based on the latest traffic updates. 

4. The Bandwagon Effect

If you’ve spent any time around sports betting, you’ve probably noticed the bandwagon effect in action. It’s a real thing and arguably the most interesting bias on our list.

The bandwagon effect is when you end up following the crowd in what you believe or do, without really thinking it through for yourself.

We can’t deny that “crowd knowledge” can be pretty powerful, especially when it comes from averaging out or combining the opinions of multiple experts. This tends to “cancel out” individual biases or mistakes that a single expert might have. So, relying on just one or two experts could expose you to their personal blind spots.

While this crowd knowledge can be useful, it’s not without its problems. For one, finding genuine experts in a sport as unpredictable as football takes time—you can’t really tell who has the competence until they’ve proven themselves over the years. Then there’s the timing issue—when you need to make quick decisions, like reacting to a last-minute line-up change, it’s not exactly practical to gather everyone’s input on the fly.

Moreover, groupthink often sneaks in, with the media and fans pushing certain stories that can sway how individuals think. This can make it tough to stick to your guns if you have a different view to start with.

To be on a safer path, it’s better to make your own decisions based on solid data, rather than just going with what everyone else thinks. This is especially important in fast-moving, unpredictable situations like sports betting, where the crowd isn’t always right.

5. Hindsight Bias

This is a pervasive bias that crops up everywhere, not just in gambling, where it’s naturally made its way in. It’s a complex one, but put simply, this bias makes us think we predicted an event accurately before it happened, especially after things go wrong. The truth is, we’re only seeing it clearly because we know the outcome now.

Our remarkable brains will go to extraordinary lengths to make us feel better, even if it means accepting falsehoods as facts or seeing patterns that aren’t there.

Once hindsight bias takes hold, we start believing we can “accurately” predict other events, too. And that’s where the problems begin.

Take someone who’s just lost a bet—they’ll say they “knew it would happen”—like some sort of soothsayer—even though they hadn’t made any real prediction beforehand. 

You see it across poker, sports betting, and lotteries—where people overstate their past predictions. Bettors start remembering their original thoughts as being more accurate than they were, regretting not acting on this supposed “instinct”.

Look at football matches—fans or bettors who shift from being optimistic before the game to claiming they “knew all along” their team would lose after an unexpected result. The reality is that they were as uncertain as the rest of us, but hindsight makes them think otherwise.

You can’t entirely eliminate this learning-limiting bias, but Forbes suggests fighting it by carefully recording your decision-making reasoning, conducting “after-action reviews,” and exploring alternative “what if” scenarios.

6. Survivorship Bias

This is a fascinating bias deeply embedded in our society—where we’re completely fixated on success stories while overlooking those who didn’t make it. It’s not just about celebrating winners, it’s about how we practically pretend the “failures” don’t exist.

Bettors tend to fixate on those “consistently winning” coaches, treating them like an oracle. But, actually, they’re completely ignoring all those coaches who didn’t survive in the industry. And you can’t really blame them—it’s just how our minds are wired to work.

What these bettors aren’t considering is that timing plays a huge role in survival.

You see survivorship bias everywhere, but let’s look at social media startups. Remember Vine? Launched in 2012, it seemed poised for TikTok-level success. Vine crashed and burned by 2017, despite having similar features to platforms that later thrived.

Our remarkable brains conveniently forget that 90% of social media startups fail. We’re too busy idolizing Facebook and Twitter to notice the graveyard of failed platforms. This creates an illusion that success is far more common than it actually is.

The real problem starts when we ignore these failures. Without looking at both sides of the coin—successes and failures—we’re missing the full picture. This skewed view leads to overconfidence and poor decision-making.

If you try 70 different betting strategies and only focus on the few winners, you will be misled. What looks like skill might just be luck in disguise. What you should be doing is analyzing everything—wins and losses alike—to understand what truly drives long-term success.

7. Outcome Bias

This is a strong bias that’s closely related to survivorship bias, but it zeros in on something more specific—how we react to wins and losses in gambling. 

Outcome bias is when we judge choices purely by their outcomes. We’re terrible at separating results from the decisions that led to them.

For instance, if a friend gives you an investment tip and it pays off, they’re suddenly a genius, but if it fails, they’re persona non grata. The reality is that we’re conveniently ignoring our own role in using that information or other factors.

You see it everywhere in gambling, where this bias maintains a firm grip on.

Look at that 2021 NFL shocker—the Jaguars beating the Bills 9-6. Bettors might see it as Jacksonville’s brilliance when, really, Buffalo just had a nightmare with turnovers and penalties. The outcome masks what actually happened on the field.

The troubles begin when you start making big bets on the Jaguars based on that single result. You would be setting yourself up for a painful losing streak all because you focused on the “what” instead of the “how.”

8 Gambling Superstitions That Will Surprise You

Wow! It’s a strange world, isn't it?

Most folks might scoff at superstitions, but when it comes to gambling, even the skeptics are suddenly carrying the lucky charm and knocking on wood. Gambling brings out a ritualist in all of us. All around the globe, you’ll find a boatload of quirky beliefs and customs means to tip the odds in your favor.

During games, world-famous athletes often rely on their strangest lucky charms or rituals. Jason Terry wears five pairs of socks, Eva Samkova sports a fake mustache, Big Mac has his magic cup, and Lam Oldom is the Candyman.

As humans, we rely on hope and when it comes to gambling luck plays a big part. So, watching gamblers wearing lucky charms and believing in superstitions is no surprise. Still, it all depends on how enthusiastic you are about winning. 

According to research “Problem gamblers believe in superstitions more than non-problem gamblers, and these beliefs are linked to how much they gamble.” 

So why are gamblers so superstitious and what are some superstitions existing in the gambling world — let’s dive into the article to find out.

Why are Gamblers Superstitious?

Gamblers are high priests of superstitions. They cling to quirky rituals like sitting in a “lucky” seat or avoiding a particular number, convinced that these odd habits can magically alter their fate. They often come from our natural habit of looking for patterns and reasons behind random events. 

Whether it’s wearing a certain color or a “winning” bracelet, these beliefs give them a comforting illusion of control especially when the stakes are high and results are unpredictable.

Gambling Superstitions in Different Cultures

In Chinese culture, gamblers favor “8” for luck and avoid “4” due to its similarity to the word death. In Western culture, Friday the 13th is considered unlucky while “7” is taken as the winning number.

These superstitions vary across different cultures. A study of 323 casino-goers in South Korea found that American gamblers are more superstitious than Japanese ones, with Chinese and Americans sharing similar superstitious patterns.

So, what are these superstitions anyway?

Let's explore which superstitions gamblers swear by.

8 Superstitious Beliefs

1. Crossing Your Legs

Crossing your legs while gambling is a one-way ticket to the city of Bad Luck. Though it could be more of a myth with unclear origins for die-hard gamblers, crossing legs — a big no!.

Most people crossing your legs at the table or slots blocks your good luck like a stubborn cork in a champagne bottle. While others believe that it is more of a psychological thing. 

Standing or sitting without crossing your legs opens up your mind and allows more stability during the game. Whatever the reason, crossing legs don't look cool anyway.

2. Blowing On Dice

You have probably seen this both in movies and real casinos — blowing on dice for good luck. But do you know how it all started? The backstory is more amusing than mysterious.

Originally, street gamblers blew on their dice to clean off dust and grim. When casinos came along, this habit stuck around and evolved into a sacred ritual. So, next time you’re playing craps, don’t forget to clean blow on your dice!

3. Counting Your Money at the Table

There’s a good old saying: Don't count your chickens before they’re hatched — well it works the same in gambling. Counting your winning while you’re still at the table is not only considered unethical by opponents but also brings bad luck. You might end up losing your newfound fortune before you’ve even had a chance to celebrate.

4. Wearing Red

Gamblers often wear red — whether it’s a cap, shirt or jacket — believing it enhances their luck. In Chinese culture, red represents power, wealth, and good fortune. Some even bet on red at the tables, hoping that the color’s luck would extend to their bets. Essentially, if you spot someone in red, they’re either banking on its good fortune or have a very coordinated wardrobe strategy.

5. Having an Itchy Palm

Oh, this one’s a classic — and it’s a real winner…or loser, depending on which hand it is. If your left-hand itches while you're gambling, brace yourself for a potential loss — it’s like your hand’s way of telling you “Hey, your opponent’s about to clean you out!”

On the other hand, if it’s your right-hand itching, consider it a sign that luck is about to swing in your favor. So, if that left hand starts acting up, it might be time for a little break — or a hand massage.

6. Changing Seats

When you’re on a hot streak, you’ll stick to that lucky spot like it’s your favorite chair at home. But if you hit a losing streak, that seat might as well be cursed. It’s all about the magic seat, whether you’re riding high or trying to change seats that’s particularly become a bad luck zone.

7. Having a Lucky Charms

Wearing a lucky or keeping one close is supposed to boost your good luck. Whether it’s your lucky cap you wear to every game or a bracelet your grandma gave you for your 21st birthday — carry whatever makes you feel lucky. In gambling, you’ll need all the luck you can get.

8. Standing While Playing

Some gamblers believe that changing your positions will mess up luck. If you started the game with a standing stance, keep standing during the entire game (for slots) or if you chose a sitting position (table games), don’t bother getting up till the game is finished.

What are the Best Lucky Charms in Gambling?

If you think you're running outta luck, check out these few lucky charms that may work for you.

Four-Leaf Clover

The four-leaf clover is a rare find, with only 1 in 5078 chance, and is considered super lucky — symbolizing hope, faith, love and luck. Its ties to Irish tradition and the Christian Holy Trinity have made it a popular theme in online gambling games.

Horse-Shoe

The lucky horseshoe legend started with St.Dunstan tricking the devil. Now, people believe an upward-facing horseshoe collects luck, while a downward might let it slip away or shower you with it. Most folks hang in it U-shape to gather all the good luck and enhance their chances of winning.

Lucky Coin

Some gamblers are often seen carrying a lucky coin that they believe brings good luck.

Elephant Figurines

Elephants are seen as symbols of strength, wisdom, and good luck while elephants with their trunks raised are considered extra lucky.

Cat’s Eye Gem

This gemstone, with its cool cat-eye effect, is a go-to for gamblers because it’s believed to ward off negative energy and bring in luck and financial stability.

Three Legged Toad

Three-Legged Toad aka Jin Chan or Chan Chu, this Feng Shui charm is a three-legged toad with red eyes and a coin in its mouth. According to legends, it brings good news and attracts money. So, why not give it a shot?

Rabbit’s Foot

The rabbit’s foot is a popular lucky charm in many cultures around the world. It’s believed to bring good fortune, especially if it's the left hind foot of a rabbit killed under specific conditions, like during a full moon. Nowadays, it’s sold as keychains and other trinkets, but its magic is really about what you believe.

How to Get rid of Bad Luck in Gambling

Losing a streak at a casino can be really frustrating and make you doubt your luck and skill. But don’t worry — there are ways to turn things around.

Before you hit the casino, give yourself a leg up with some pre-game rituals. Take a minute to meditate or imagine hitting it big, toss out affirmations like “I am a lucky genius”, and set goals like “Have fun and win big”. To keep your wallet happy, budget wisely and set limits — no one wants to blow their rent money on a hot streak.

Stay cool-headed, dodge emotional bets, and learn the game rules by heart. With these tricks up your sleeves, you might turn your luck around and have a blast while you’re at it.

Conclusion

Now you know what superstitions dominate the gambling world. Whether it’s relying on lucky charms or adhering to quirky rituals, gamblers will go to great lengths to boost their winnings.

Each culture brings its own set of superstitions, and you might have your own lucky charm or winning routine. However, remember that your gambling skills will ultimately determine your success. So, while you’re busy keeping a Laughing Buddha nearby, make sure to sharpen your strategies and stick to your budget. 

With a bit of skill and a touch of luck, you’ll be on your way to a big win!

7 Best Casino Games for Beginners 

Going to a casino for the first time? Wanna know which game to start with and which has the least risk involved? Discover a few tips to ensure you don’t leave empty-handed on your first visit.

If you’re planning a casino night with your friends, it’s smart to check out the casino rules upfront. Gambling can be addictive. Knowing your risk tolerance and skill level can help you decide which game to play. 

Choose a game you like and which also aligns with your bankroll and time schedule. Some table games may have higher minimum bets so don’t go overboard in excitement and wager everything you have. Table games like poker may take hours to finish and you might lose interest. This can result in a stressful gaming experience.

This post contains a list of 7 super-easy casino games that’ll help you earn some money even if you're a total beginner. Follow the secret tips mentioned, and you’ll be in for a thrilling gambling night!

1. Slots

If you have ever been to a casino, you must have heard of the whirring and chiming sound spread across the gaming floor. These sounds come from the easiest casino game – Slots. Popularly known as Game of Chance, slots have been the center of attraction in casinos since the early 1900s.

You don't need tons of experience to gamble at slot machines. Just insert coins, bills, or a ticket and activate it with a lever or button.

Set the bet and spin the reels. While some slots allow you to play high roller, most slots let you place your minimum bet in cents. That makes it less riskier than other casino games. 

Slots may have 3 or more reels with different symbols ranging from fruits to funky characters. The RNG (random number generator) makes sure that each spin is fair and independent. The machine pays out in the form of coins, credits or tickets.

If the symbols on the reels align–YOU JUST HAD A LUCKY DAY!

2. Baccarat 

Known for some straightforward rules, Baccarat is a popular game played in many high-stakes casinos. You can enjoy its different variations like Punto Banco, Chemin de Fer, and Baccarat Banque.

To play this game, players bet on either the player's hand, the banker's hand or a tie will have a total closest to 9. It is mostly played with 6 to 8 decks of cards. Depending on the table limit, you can wager a big amount. And if luck is by your side, you can win a hefty amount.

Do keep in mind that the “tie” bet may have a higher reward but it’s a lot riskier than the other two bets. Always go through the payout structure established by the particular casino. Knowing the odds and using strategies will likely double your chances of winning and help in recovering losses.

3. Video Poker

If you want to enjoy a solo game of poker, you can always try out the video poker machines. Unlike slots or roulette, where good luck matters, you do have some control over the gaming mechanics. With some strategic decisions, you can easily turn the game in your favor, says Noomi Eriksson, a casino expert.

Players looking for an extra layer of excitement are drawn towards it naturally. They can enjoy different variations like Deuces Wild and Joker’s Wild with a little change of rules. It is super convenient for players seeking quick gameplay. 

Video Poker is widely available in all casinos for you to enjoy. It has a dedicated following in South Africa, Germany, France, the U.K., the U.S. and Canada.

4. Roulette

Another big game of chance is Roulette–where each spin is different. If you’re a beginner, you can definitely try your luck in roulette since most STRATEGIES don’t actually work in the game.

European Roulette is extremely popular, while American Roulette has its own exciting appeal. Both have 37 compartments, and American Roulette has an additional compartment, “00”.

If you wanna win, you can take your chances with straight bets, where players are given the option to place bets on one single number or a double zero. The best option is to play with different bets and don’t go over your set budget. You have no influence over the ball, so you may have lower chances of winning. So, next time you're betting on reds or blacks, remember to gamble responsibly.

5. BlackJack

Whether you’re a tourist or vacationer seeking a unique gambling experience or a gambler looking for a serious play, you can't keep yourself away from blackjack for long. Luck does play its part, but blackjack is a game of the mind. The person who strategizes the best wins.

Also known as 21, blackjack has some straightforward rules that aren't too complicated to grasp. Blackjack is a winning hand with an Ace and a card worth 10 points, totaling 21. Or as in 21(its other version), any hand totaling 21 scores the win.

Cards are dealt after the players place their bets. Bluffing is a common tactic followed by many players during blackjack. If your bluff works, you can win the pot, but you might end empty-handed if it fails. If you’re a total novice, it's best to observe the game first and then start-off with smaller bets.

6. Keno

If you’re a true admirer of lottery games, you’ll fall in love with Keno. The first recorded Chinese lottery was in 1847 in Macau.  Keno was known as báigē piào, meaning “white dove tickets,” due to results being carried by carrier pigeons. According to some stories, it also helped fund the Great Wall of China.

To play the game, you just pick a few numbers, usually between 1 to 80. Then, place your bets on the numbers. Using RNG or a ball machine, 20 numbers are randomly drawn. You earn a larger payout if you are lucky to get more matches.

Good part is players can win big even by betting a small amount. The game doesn't require much skill but rather sheer luck. Each casino has a different payout structure, so make sure to familiarize yourself with all the rules and payout structure.

7. Craps

Craps is a highly social game. The player is surrounded by the cheering crowd, creating a lively atmosphere. Craps involves players wagering on the results of rolling a pair of dice, keeping the anticipation level high. 

Whether you’re a casual player or a beginner of craps, you can learn to implement different strategies and make use of different betting options available.

Not only can you win a hefty amount but also it’s quite simple to play. The Pass line bets offer relatively favorable odds as compared to other casino games. 

Tips for First-Timers at a Casino

Conclusion

Now you know which casino games are best for beginners. From classic slots to blackjack, you can pick games based on your skill level. If you’re not into strategies and calculations, you can try your luck at slots, roulette, and craps. 

But if you think you can get the hang of it with little guidance, do check a few table games. Be honest and tell the dealer you want to know about the game. They’ll be more than happy to help you out. Don’t make it all about gambling. You’re there to enjoy yourself so try and have a good time. 

How to Become a Professional Gambler

Becoming a professional gambler isn’t as straightforward as getting a bachelor’s degree where you follow a set curriculum for four years.

You might have been led to believe otherwise by the success stories of famous gamblers including Archie Karas, Bill Benter, Viktor “Isildur1” Blom, etc.

Together, these individuals have won over $1 billion through gambling.

However, it’s not as simple as it seems. It’s true that gambling can sometimes bring in money, and for a lucky few, it can even provide a living. But it’s not a guaranteed paycheck.

Isn’t it interesting how everyone’s path to professional gambling is so unique? Yet, fortunately, we can always find certain kinds of similarities in their stories. That’s where this post draws its inspiration from. 

This post isn’t a magic formula, nonetheless, it’s a good starting point. It’s up to you to take this information and build on it to carve your own path in the gambling industry. 

To the “how”!

Knowing Your ABC

Don’t ever think you’re too big to learn the basics, or as some might call it, the ABCs of gambling. It’s something you’ll want to be familiar with, like the back of your hand. You can even see it as an investment that will keep paying dividends throughout your gambling career.

The Variety

Speaking of ABCs, let’s get into it from the “variety” angle. There’s a whole planet of gambling out there, from sports betting that adds a sprinkle of reward to the enjoyment of passionate football and other sports lovers to poker for those who enjoy a mental challenge to slot machines for those seeking quick wins or visual excitement, to roulette for those who can’t get enough of the spin — whether it’s their Bugatti’s steering wheel, the roulette wheel or other spinning stuff. The casino and other gambling locations are a full “house” of options.

The Skill vs Luck Debate

If you’re a regular follower of the gambling industry, all these things I have said must have rang your brain to recall the age-old debate: “Is it skill or luck?” Let’s cut to the chase.

Poker, for the start. I won’t disagree, for a small part of it, there is luck for example in the shuffle of the cards. However, for the bulk of the game including… Analysing the strength of your hand, reading your opponents’ body language, calculating probabilities, and maintaining mental strength — that’s all skill, my friend. The same goes for blackjack.

Roulette, on the other hand, is probably the riskiest game in the casino due to its unpredictability. The moment the ball takes flight, the wheel spins, and the ball bounces between 37 or 38 outcomes, fortunes can be made or lost in seconds. Even though physics might suggest some predictability, human quirks, imperfect parts, and even air currents can add to the randomness. Can you predict when you’ll scratch your eyebrow or when a gust of air will stop the ball? I didn’t think so. The game is luck-based.

Slots are even worse than a game of chance. They use Random Number Generators (RNGs) that work 24/7 to generate random numbers that determine the outcome of your pull of the lever or click of the “Spin” button. It’s a level playing field here — billionaires and Walmart employees alike have the same odds. 

Even the casino management doesn’t know the outcome of the spins. Online roulette, craps, and baccarat also use this technology.

You just need to know which game is which so you can approach them with the right mindset.

The Psychology

Understanding your opponents’ body language, which I mentioned earlier, is part of the broader psychology of gambling. It’s amazing how much work casinos put into setting the right mood. 

They’ve got it all figured out, from the layout to the games and even the smells, all backed by science. They’ve got the ambiance down pat, with the colors, lights, music, and freebies such as drinks and food.

They’re not trying to control specific outcomes but rather to create an atmosphere that encourages prolonged play. Yet, it’s easy to lose track if you’re not careful. 

The avidity of the unknown, the potential for a big payout, and the challenge of outwitting the casino — those are the driving forces behind the fun of gambling. 

The Explosion of Online Gambling

In recent years, gambling establishments have taken these immersion techniques online with simulations and other methods to keep up with the rise of online gambling services. 

Online gambling has been a smashing success from the get-go. It’s a colossal market that’s constantly got eyes on it. With fresh games and updates rolling out regularly, it’s made gambling more accessible than ever before. As a gambler, the future of online gambling should be an exciting prospect that gets your adrenaline pumping.

Choosing Your Niche

To wrap up this section and move on to the hotter ones, it’ll do you tremendous good to specialize in a type of gambling. You’ll excel at a game, say poker, if you focus solely on it. It’s better than being a jack of all trades and master of none. After all, the stories of great gamblers we’ve heard mostly focused on a niche.

Steps to Becoming a Professional Gambler

As I said before, there are no definitive “steps” to professional gambling. However, there are valuable insights you can add to what you have in your knowledge box. You can use these insights to sketch your own map or something.

Learning and Studying

You might already be smelling it, learning and studying go hand in hand in professional gambling. It’s a continuous process. Grab every opportunity to learn. No matter how experienced or old you are, there’s always something new to learn. It’s lifelong. 

Successful gamblers are always updating their knowledge and staying on top of the latest trends and strategies in their chosen field. They don’t just skim through information, they study deeply to go deep into understanding game mechanics, probability theories, and techniques.

Observation is another part of the process. Professional gamblers are also “pro” observers. They study other gamblers, learn from their strategies, and try to incorporate them into their own gameplay. They also learn from their own mistakes and others. They analyze their past games, identify their weaknesses, and work on improving them. Sure, yes, they leverage technology to gather data, analyze games, track their performance, and plan their strategies.

When the time for practice comes (that always comes), they often use simulations to test their strategies and make necessary adjustments based on the outcomes.

You know, all these things cannot be achieved if you do not have patience and persistence — traits that successful gamblers have in abundance, Archie Karas, for example. They understand that it takes time to learn and master any skill. You should, too.

Speaking of hitting the books, Edward O. Thorp, the “father of card counting” and a maths professor, certainly hit them well. Because otherwise, how would he have written his 1962 hit book, “Beat the Dealer”, the first book of its kind to prove mathematically that blackjack could be beaten by card counting?

He definitely spent hours studying the game, practicing card counting, and strengthening the muscle mass of his strategy.

Total Commitment

Even though it’s not advisable to take up gambling as a full-time job instead of for fun, if you decide to do so, you need to give it your all. Set a schedule, dedicate specific hours to play the game and study, watch multiple matches a day, and maintain a professional attitude. 

You could use online platforms to play practice games. If you want a community feeling, playing with friends can add a fun and social dimension to your learning. Your hands will surely get stronger over time (no pun intended).

Emotion Management

Emotions can impair your judgment. In the heat of the moment, it’s easy to let excitement, frustration, or anxiety dictate your actions. However, successful gamblers appreciate the necessity of staying rational and using logic and strategy, rather than emotions, to guide their decisions.

There are several techniques that can help keep emotions in check while gambling. These include taking regular breaks to clear your mind, practicing mindfulness and meditation to improve focus, and setting loss limits to abate the impression of frustration in your gameplay. 

It would be a crime not to seal off without mentioning attitude. Maintain a positive attitude, even when things don’t go your way.

Smoothening Your Play Style

Just as I mentioned earlier, focusing on one game can help you channel your energy and become a master in that area. This focus can lead to a deeper grip on the game’s mechanics, strategies, and subtleties, which can give you an edge over other players who may be spreading their attention too thin across multiple games.

Here are some tips for you. When picking a speciality, the easiest way you can do it is to consider your interests, skills, and the amount of time you’re willing to devote to learning and practising.

Begin by scouting around for various games to discover which ones you enjoy and excel at. Once you’ve pinpointed a potential specialty, research it thoroughly, become more serious with it, and consider seeking advice from more experienced players.

Developing a Logical System

You know, it doesn’t stop at choosing a speciality — that is just the beginning. You need to have a strategy for your game. Not just any strategy, a well-defined one. Having that kind of strategy can be a blessing in your gambling career. A solid strategy guides your decision-making process, assists you in managing your bankroll fruitfully, and can boost your chances of success in the long run.

There are numerous gambling systems that players have successfully used. For instance, the Martingale system in roulette involves doubling your bet after every loss so that the first win recovers all previous losses, although this isn’t generally recommended. 

In poker, a common strategy is to calculate pot odds to determine whether a call is profitable in the distant future.

Keeping a Record

In that “future,” your wins and losses will fluctuate, your bank account will rise and fall, and you have to keep a record as a professional who knows what they’re doing. Keeping track of your wins and losses helps you monitor your performance, identify patterns, and make informed decisions about your betting strategy.

For the most basic record-keeping method, a journal should do the trick. An effective gambling journal should include details of each bet (including the date, the game, the amount wagered, the outcome, and any observations), reflections on your decision-making process, and notes on any patterns or trends you’ve noticed. 

Regularly review this journal to inform your future betting decisions. If you prefer digital over paper, there are mobile and web app journals or other tools available for this purpose.

Money Management

Money management in gambling is sort of a well-stacked burger — buns with lots of onion, tomato, cheese, beef, hamburger sauce, and more between them. Don’t worry, I will narrow it down to the main ingredients.

Setting Win Goals and Loss Limits

Just as an electrical circuit wouldn’t be complete without the fuse, successful gambling isn’t complete without the ingredients of setting win goals and loss limits.

A win goal is a set amount of winnings at which you’ll call it a day. On the flip side, a loss limit is a set amount of money you’re prepared to lose in a gambling session. These limits help you avoid the common trap of chasing losses or getting swept up in a winning streak. They instill discipline and help you know when it’s time to step away, safeguarding your bankroll and helping you gamble responsibly.

If you have long-term success in gambling in mind, having a functional bankroll management system is a crucial step. Here are some tips:

Conclusion

Professional gambling is not an easy path. It is very far from the flashes the media portray it to have. It requires a tremendous investment of time and effort, and the results are not guaranteed. 

Some of the challenges include dealing with losing streaks, managing stress and emotions, staying disciplined, and maintaining a work-life balance. 

There’s also the risk of developing gambling-related problems, such as addiction.

In addition, you have to approach professional gambling with realistic expectations; otherwise, you will be shooting yourself in the leg. I never disagreed, it’s definitely possible to make money from gambling, however, it’s not a “get rich quick” or Ponzi scheme. 

Professional gambling requires skill, strategy, and a lot of patience. It’s not for everyone. You have to approach the thing healthily and responsibly. Enjoy the process, not just the outcome.

If you’re still of the mindset that you’re one of the select few who can excel in professional gambling, I wholeheartedly wish you the best. My support comes from a place of sincerity, not skepticism. Just proceed with caution. Digest the information in this post and merge it with your current knowledge. What am I even saying? Don’t just digest, apply as well. 

We can indeed tackle most seemingly impossible or tough tasks when we fuel our minds. You’re no exception.

14 Biggest Gambling Losses Ever

They say the house always wins in the end and boy, were these guys prime examples of that old saying.  

Let's take an uncomfortable look at the top 14 biggest gambling losses that left these poor souls destitute and crushed. Maybe it will convince me to quit while I'm ahead at the penny slots. 

1. Terrance Watanabe - $127 Million Lost 

This unlucky heir to the Oriental Trading Company basically got a $615 Million inheritance and said hold my beer; it's time to lose it all in Vegas! Over a crazy year in 2007, Watanabe gambled away $127 Million. 

The legendary binge included $835 Million in total bets, drinking multiple vodka bottles daily & Caesars Palace getting fined $225k for letting his drunk butt play. He still owed $15 Million of that loss and risked jail time. Now, that's what I call going all-in! 

2. Archie Karas - $40 Million Lost 

Now this is what you call a high-amplitude life. Archie Karas was straight up broke in 1992, with just $50 to his name. 

But he ran that $50 up to $40 Million in just three years thanks to an epic hot streak playing poker, dice, and Baccarat. 

But then he started pushing his luck too far, getting casinos to lift betting limits. Within three weeks, he lost every single penny of that $40 Million fortune. 

Boom, just like that - from deadbroke to multiMillionaire to deadbroke again. Someone get Archie's story to Hollywood! 

3. Charles Barkley - $20 Million Lost 

When you're an 11-time NBA All-Star like Sir Charles, losing approximately $20 million doesn't seem like that much to lose. 

Except when you realize that's his ENTIRE NET WORTH he blew on blackjack, baccarat & roulette over many casino visits. 

In Barkley's words: “I've gone to Vegas and won a Million bucks probably 10 times. But I've gone and lost Million bucks probably three times as much.” 

That's a pretty cavalier attitude about vaporizing fortune! At least he learned and stopped betting more than he can afford to lose. 

4. Harry Kakavas - $20.5 Million Lost 

This Australian real estate tycoon must have really hated having money. Over 16 months from 2012-2013, Kakavas gambled a staggering $1.47 BILLION (with a B!) playing Baccarat at Crown Casino in Melbourne. 

In a single 5.5 hour session, he blew $164 Million! Yeah, just a typical Friday night for old Harry. His total losses were only $20.5 Million. 

Clearly, he had more money than sense, because he actually tried suing the casino for exploiting his pathological urge to gamble. 

The judge shut that down fast, saying Kakavas was perfectly capable of rational decision-making...like pissing away a billion dollars is rational? 

5. Jim Mattress Mack McIngvale - $15+ Million Lost 

With a nickname like Mattress Mack, you'd think this guy would avoid risky gambling situations that could bankrupt his bedding empire. 

But nope, McIngvale is a fearless (reckless?) bettor who has dropped over $15 Million, including $9.5 mil on just the 2022 Super Bowl

His-aus MJ-esty would be proud of Mack's $1.5 Million money bonfire bet on the 2022 Kentucky Derby favorite Epicenter, too. 

I'm starting to think this guy should stick to selling Serta Perfect Sleepers and avoid dropping 7-figures-per-weekend on pony bets. 

6. Maureen O'Connor - $13 Million Lost 

Being mayor of San Diego apparently doesn't preclude you from having a massive gambling addiction. 

O'Connor managed to burn through $13 Million despite only betting a total of $1 billion. That's actually kind of impressive in a sick way? 

What's less impressive is that she had to embezzle $2 Million from her husband's charity to keep feeding her video poker jones. 

Yikes! At least she paid back the entire $13 mil loss afterwards - probably took her entire McDonald's promotions paycheck though. 

7. Frank Saracakis - $13 Million Lost 

Clearly, Frank Saracakis missed the memo about betting with money you can comfortably afford to lose

This Greek tycoon heir just strolled into Crockfords Casino in London and YOLO-ed $13 Million on roulette on a whim over the course of a few hours. 

No pressure! At least he didn't have to scrimp and save for that $13 mil beforehand. 

Still, talk about an inglorious way to light a small fortune on fire. Hey Frank, next time, maybe just buy a tropical island and pools full of supermodels to enjoy your riches properly; I'm just spitballing here. 

8. Kerry Packer: $7 Million Lost on Single Horse Race 

Now, this is the kind of high-rolling horse betting action I can respect...and by respect, I mean gape at in disbelieving horror. 

Aussie media mogul Kerry Packer took his private-jet-owning gambling antics to the next level by betting $7 Million on a single race - the 1987 Sydney Cup! 

The kick in the gold-plated gut? Packer didn't even bet on his own horse, Major Drive, the race-winner. No, he put the $7 million on runner-up Myocard because...reasons? 

Maybe he confused it for some kind of equine myocardial infarction prophylaxis? Either way, a $7 mil single-race single-punt loss is the kind of dumped cash that burns its way into legend. 

9. Stu Ungar's Pal: $3 Million Lost in Three Weeks 

While the gambler's name is lost to history, his astronomical losses are the stuff of degenerate dreams/nightmares. 

You see, this unknown but obviously quite a wealthy gambler buddy of Stu Ungar's managed to lose a clean $3 Million in a mere THREE WEEK span! 

From the limited details, he seems to have been one of the big money whales who would ante up at cash games against legends like Ungar and Archie Karas back in the 90s Vegas poker boom. 

Imagine having that kind of Scrooge McDuck money pile to be able to burn $3 Million in such a short span. I'm not sure whether to be awed or terrified. 

10. John Daly: $1.65 Million on Slots in 5 Hours 

You know things are going south when a professional golfer like John Daly drops $1.65 Million...on SLOT MACHINES...in just FIVE HOURS! 

I've had more financially prudent benders pulling Golden Nugget slot handles when blacked out on night trains and nachos. 

Amazingly, that ridiculously rushed $1.65 Million incineration was just a small percentage of an estimated $55 Million Daly has burned through gambling over his life. 

Yikes, no wonder he's better known for his booze and gambling demons than his decent pro golf skills. If this doesn't scream an addiction issue, I don't know what does. 

11. Robert Maxwell - $1.5 Million Lost in 3 Minutes 

Soooo, let me get this straight. Robert Maxwell was a British officer, MP & media mogul...who blew $1.5 Million in just 180 seconds by playing THREE ROULETTE TABLES AT ONCE at fancy Ambassadeurs Club. 

I don't know whether to be awed or appalled. On one hand, having that kind of Money To Utterly Incinerate is hugely impressive. 

On the other, any self-respecting degenerate gambler could have stretched out that $1.5 mil burn over at least a long weekend in Vegas. Three MINUTES? Sheesh Maxwell, show a little more self-restraint next time! 

12. Michael Jordan - Loss $1.2 Million 

Michael Jordan is a legendary gambler with an estimated net worth of $1.6 b despite his rumored losses over the decades. 

While most of his horror stories involve craps and casino tables. Apparently, one of MJ's biggest on-paper losses involved a truly silly golfing prop bet. 

According to one of Jordan's gambling memoirs, he once lost around $1.2 Million to a wealthy businessman over a heated 10-day high stakes golf/betting bender. 

Sure $1.2 Million is horrifying...but it was centered around just a SINGLE GOLF HOLE wager at one point. 

Even for a hyper-competitive savant-like His Airness, putting seven figures on the result of ONE back nine hole has a strong addict, making it rain vibes. 

For most people that sum could buy a house, fund college for their grandchildren AND leave something left over for precious memory spending. 

For Michael, it was just another entertaining me sweat en route to the next reckless gambling lineup card. 

13. William Lee Bergstrom - $1 Million Craps Bet 

I don't know whether to be in awe of or terrified by the sheer unrestrained gambling insanity of William Lee Bergstrom

This guy - who fancied himself the Phantom Gambler - literally showed up at the Horseshoe Casino in the 80s with $777,000 he had BORROWED TO BUY GOLD & instead put it all on the Don't Pass line in craps. 

And this wasn't even close to his biggest loss! No, Bergstrom later came back and lost a cool $1 Million on another single craps roll. 

He then killed himself months later, leaving a note asking to be called the Phantom Gambler of Horseshoe. I honestly don't know whether to laugh, cry, or immediately check myself into Gamblers Anonymous. 

14. Vegas Dave: $1 Million on Miesha Tate UFC Bet 

Last but not least, the Vegas Dave Oancea. This professional gambler is known for his audacious bets and social media braggadocio. 

But even by his standards, his $1 Million wager on Miesha Tate to win a 2016 UFC bout was shockingly reckless. 

Cupcake Tate ended up suffering a submission loss after just 3:16 of the first round, immediately shifting a cool $1 mil from Dave's bankroll straight into his bookie's vault. 

What's most insane is that Vegas Dave seemed to barely flinch at lighting a small fortune ablaze due to a 3-minute lapse in judgment. 

Conclusion

So there you have it - a Who's Who of gambling's most prolific money-torchers. Certainly puts my quarter-slot heartbreaks into perspective! 

I'd say something about learning from their mistakes...but if you'll excuse me, I have to go put a NiceNSober lock on my bank accounts. 

That’s all about insane examples of gambling fortunes utterly obliterated through a combination of ego, poor impulse control & general recklessness.

13 Biggest Scratch Card Winners Ever

Some people think scratch cards are a waste of money, just a way for the government to swindle a few extra quid out of the working class. 

But every now and then, someone defies the odds and walks away with a life-changing amount of cash. 

Let's take a look at 13 of the biggest scratch card winners in history - I can hardly believe these stories myself! 

1. Deborah Kempel - $7.5 Million 

Moving over first to the US, we have Deborah Kempel from San Antonio, Texas, who won a $7.5 million scratch card prize in 2021. 

Deborah's winning ticket was from the Diamond Dollars game, and when she realized she'd hit the jackpot, she made the smart decision to try to keep a low profile. 

Unlike some other winners who revel in the spotlight, Deborah wanted to stay out of the media frenzy as much as possible and quietly enjoy her winnings. I can definitely understand the appeal of that approach. 

If I ever won millions on a scratch card, the last thing I'd want is constant attention and paparazzi following me around. Kudos to Deborah for prioritizing her privacy and peace of mind. Although I have to admit, I'd still be tempted to treat myself to a flashy new sports car or two! 

2. Robert Stewart - $5 Million (Plus More!) 

Speaking of lightning striking twice, Robert Stewart from New Jersey took things to the next level in 2018. 

On a single day, this guy managed to win three scratch card prizes, including a jaw-dropping $5 million jackpot! 

The $5 Million Fortune game he played is the most expensive scratch card in New Jersey, costing a whopping $30 per ticket. 

But Robert clearly felt it was worth it, following up his $5 million win with an additional $500 and $100 prizes later that same day. I can barely wrap my head around winning a few bucks on a scratch card, let alone millions. 

If I ever won that kind of cash, I think I'd need to lie down in a dark room for a few days just to process it all. Robert, on the other hand, just kept on scratching and winning - what an absolute legend. 

3. Amadou Gillen - £4 Million 

Amadou Gillen, 46, from Trowbridge, Wiltshire, who has won £4 million on a National Lottery Scratchcard, poses for media at the Bowood Hotel and Golf Resort in Calne, Wiltshire. June 2, 2015 See story SWLOTTO.

I've got to start with Amadou Gillen, who holds the record for the biggest-ever scratch card win in the UK. 

In 2016, Amadou, a pub kitchen manager, was on his lunch break when he popped out to buy some cigarettes. On a whim, he also grabbed two £10 scratch cards. 

The first one netted him a modest £20 win, but the second revealed a jaw-dropping £4 MILLION jackpot! 

Amadou said he knew right away he'd hit the big one, but he stayed calm, finished his shift, and then rushed home to share the news with his family. 

That's one way to start your new year - Amadou got married in Sweden shortly after his life-changing win. I wonder if his new spouse is as lucky at the lottery as he is. 

4. Mark Clark - $4 Million... Twice! 

They say lightning never strikes the same place twice, but that old saying definitely doesn't apply to Mark Clark from Michigan. 

This truck driver managed to win the $4 million top prize on a scratch card not once, but twice!  His first massive win came in 2017, and after retiring from his job, Mark continued to play the lottery regularly. 

Then in 2020, he somehow managed to strike gold again, scooping another $4 million jackpot. I don't know whether to be impressed or utterly bewildered - how does one person get that lucky, not just once, but twice?! 

If I won the lottery even once, I'd probably never play again out of sheer superstition. But not Mark - this guy must have a horseshoe lodged firmly up you-know-where. 

5. Ross Hearst - £4 Million 

We have the story of Ross Hearst, a Northern Irish road worker who started 2016 with an absolutely massive bang. 

On New Year's Day, Ross bought a £10 Million Blue scratch card and ended up winning a staggering £4 million jackpot. 

The win came at the perfect time, as Ross and his wife Jocelyn were expecting their first child. After the initial shock wore off, Ross said he planned to buy a new car and get his wife a Dyson vacuum cleaner (practical priorities, I see). 

But he also insisted the money wouldn't change them too much - they just wanted to enjoy their newfound wealth responsibly. 

If I had suddenly become a multimillionaire, I'm not sure I'd be able to resist the urge to splurge on a few fancy toys. But good on Ross and Jocelyn for keeping a level head! 

6. Melissa Ede - £4 Million 

Let's talk about Melissa Ede, the taxi driver from the UK who made headlines in 2017 when she won a record-breaking £4 million on a £10 scratch card

Melissa had quite the colorful history before her big win - she was known for being a regular on TV shows like Judge Rinder and had documented her gender reassignment journey on her YouTube channel. 

So when this larger-than-life personality suddenly became a multi-millionaire, it was national news. 

Tragically, Melissa's time as a scratch card millionaire was cut tragically short - she passed away suddenly of a heart attack just a few months after her life-changing win, at the young age of 58. 

It's a devastating end to what should have been Melissa's chance to truly enjoy her wealth and newfound freedom. 

Her story is a poignant reminder that you really can't take anything for granted, no matter how much money you have. 

7. Susan Richards - £3 Million 

Another winner is Susan Richards, a carer who won a whopping £3 million on a scratch card she bought on her way home from a 12-hour shift. 

Talk about perfect timing! 

Susan was planning to just head straight home, but on a whim she stopped at the supermarket - and that spur-of-the-moment decision changed her life forever. 

After verifying the win, one of Susan's first plans was to take a dream holiday to the US in memory of her late father. 

I don't know about you, but if I worked a brutal 12-hour shift and then won millions on the way home, I'd be booking a one-way ticket to the Bahamas and never looking back! 

8. Glenda Blackwell - $1 Million

Not all scratch card winners set out to get rich, though. Glenda Blackwell from North Carolina had a completely different motivation when she bought her fateful ticket. 

Glenda was actually irritated with her husband for wasting money on the lottery, so she decided to buy a scratch card just to prove him wrong. Well, that backfired spectacularly when Glenda's ticket revealed a $1 million prize

Glenda says she "was going to be ugly" and shows her husband the card didn't win, but instead, ended up eating some very humble pie. I can just imagine the look on her face when she realized she'd become an instant millionaire. 

At least the money helped settle the couple's disagreement - they used the winnings to buy some land and a new home. I bet Glenda's husband hasn't complained about the lottery since! 

9. Audrey White - £1 Million 

Our next winner, Audrey White, is a perfect example of how even the smallest mistakes can lead to life-changing outcomes. 

Audrey had only meant to buy a £2 scratch card, but the shopkeeper accidentally gave her a £5 one instead. Little did anyone know that this little mix-up would turn Audrey into a millionaire! 

When she scratched the card that evening, Audrey was stunned to see the words "1 Mil" revealed. 

It took her a while to fully comprehend that she had just won £1 million on a card she hadn't even intended to buy. 

I don't know about you, but I'm starting to think I need to pay more attention when I'm making purchases - you never know when a simple error might pay off in the biggest way! 

10. Grace Walker - £1 Million 

Next up is Grace Walker, a Scottish housewife who won £1 million on a scratch card purely based on her favorite color. 

Grace said she chose the pink card because it matched her favorite hue, and lo and behold, that simple decision made her a millionaire. 

Despite her windfall, Grace and her husband William vowed to stay in their modest council house that they've called home for over 30 years. 

Maybe I should start basing my lottery purchases on color schemes instead of trying to "beat the odds" - Grace certainly proved that simple can be best when it comes to scratch cards. 

11. Jackie Murphy - £1 Million 

Bride-to-be Jackie Murphy is another UK jackpot winner, scooping £1 million on a scratch card she bought after a long day at work. 

When Jackie scratched the card and saw the seven-figure prize, she had to get the shopkeeper to verify it - I bet she thought her eyes were playing tricks on her! 

Instead of splashing the cash on an over-the-top wedding, Jackie and her partner of 10 years decided to keep things simple, just providing a free bar for their guests. 

That's my kind of party! If I win the lottery, the first thing I'm doing is rounding up all my mates for a massive celebration. 

12. Lewis Rider - £1 Million 

Some people have all the luck, and bartender Lewis Rider is one of them. He won £1 million on a spur-of-the-moment scratch card purchase while out buying food for his dog. 

After the initial shock wore off, Lewis said he planned to invest in property and take the family on a nice holiday. 

But ol' Lewis couldn't just enjoy his windfall quietly - he also made headlines for getting kicked out of an auction where he was trying to buy $20,000 worth of Arnold Schwarzenegger memorabilia. 

Apparently, the security guards thought he was too drunk to meet his Terminator idol. I guess even millionaires can't avoid embarrassing themselves sometimes! 

13. Norman Blanchette - VIP Racing Experience 

Our final story takes us back to the US, where we have the most unique scratch card win of all. In this case, the "prize" wasn't even cash - it was an oversized novelty scratch card measuring over 33 feet tall and 18 feet wide! 

The lucky winner, Norman Blanchette, had to be lifted up on a special scissor lift just to reach the card and scratch off his numbers. 

Unfortunately, Norman didn't become an instant millionaire. His massive scratch card only awarded him a VIP race weekend at the Sylvania Speedway. Still, it's an absolutely wild story and a Guinness World Record to boot! 

I can just imagine Norman's face when he realized the sheer scale of the card he was about to scratch. Even if the prize wasn't millions, I bet he still had an incredible time living out his racing dreams. Talk about an unforgettable lottery experience. 

Conclusion

These stories really go to show that you can't predict when lightning is going to strike. One minute you're an ordinary person going about your day, and the next you're a millionaire! 

While the odds of winning these massive scratch card jackpots are astronomically low, these lucky winners prove it's not completely impossible. 

Maybe I should go buy a few more tickets - you never know, I could be the next person with an extra few million in the bank!