The Best Ways to Profit From Gambling Or Day Trading

While I am a theoretical physicist by training, my first job offer after graduation was not in physics. It was in gambling. Less than a couple of months after defending my dissertation I was headed to Los Angeles. Here, in the heart of the southern part of the Golden State was to be my first job. More precisely, it was to be for a gaming company in Beverly Hills. The company was founded by two gamblers who had happened to make a fortune playing Blackjack in Las Vegas. Now they had other people play for them in local Southern California casinos.

But they were not playing against the house. They were playing for the house which always has an edge. My company would simply employ these people to work as prop players. As such, they were trained to play various casino games (Blackjack, Pan Nine, Pai Gow Poker) and were paid an hourly wage for that which was certainly very competitive compared to the minimum wage. I was in charge of developing training software for these players based on optimal strategies that I was also responsible to work out.

For these people it was really a risk free job in gambling. There are more players like that out there. Because of the huge popularity of poker (especially Texas Holdem), some casinos employ prop players to keep the poker tables running and make money off “the fish”: inexperienced players, frequently tourists.

There are also prop daytraders who trade using the capital of a firm that employs and trains them in their proprietary strategies. However, often prop traders are required to put in some deposit, a small capital of their own. Yet, this is also pretty much a risk free job save for the deposit that may not be returned.

And there is yet another good way to profit from gambling or daytrading. Who do you think made more money during the California Gold Rush in the mid 19th century: those mining gold or those who were supplying shovels to them? And whose job was easier? While some people did strike gold and became rich, it’s probably safe to say that many more ended up rich by selling tools to the miners. And there is nothing wrong with that: virtually every human activity requires tools, that’s what separates humans from the rest of animal world, and before you develop your own, if necessary at all, it only makes senses to start with what is already available on the market.

Yes, it is certainly possible to make money as a vendor, a developer of systems, strategies, or other tools, without actually gambling or daytrading, although a respectable vendor is expected to have some practical experience in the field in which he operates. These days, with the Internet becoming the most ubiquitous and versatile form of communication ever, it is very easy to sell tools for gamblers and daytraders via one’s own website.

All you need to know, except for the expert knowledge of gambling or daytrading, is how to go about it. How to create your own eBook or software, how to create a website for its online presence, and how to market it. While all this may seem a bit daunting at first, for first steps in virtually anything tend to be particularly challenging, many have done this already and many more will certainly follow in their footsteps. In fact, it is much easier to do so these days than it was a few years back as now there is more information and more tools dedicated to helping new authors publish and market their expert work.

When Gambling Takes Over

The casino is a world onto itself. There are no windows, no clock, but there are flashing lights, and the din of clacking coins and whirring slot machines. Beyond the slots, figures are mesmerized at the crap table. Interest in poker hit new heights with televised Texas Hold ‘Em tournaments. For the majority of gamblers, this is excitement, recreation, a fun diversion or escape from the ordinary and a chance to beat the odds. For others, an estimated three percent of the adult population, it’s an addiction, an endless roller coaster of excitement and despair.

A pervasive characteristic of addiction of any kind is that the repeated behaviors have led to a range of negative consequences. This may be putting it mildly in the case of pathological gambling, because someone in the grips of compulsive gambling usually suffers severe blows to finances and relationships before seeking help. His or her life may be in shambles.

Often the compulsive gambler’s denial leads him to believe that the next round will save the day. Of course, if the numbers come up right, the cash or credit won is then “invested” again. Gambling addiction is hardly a recent development, but the advent of electronic poker and the break-neck speed of today’s slot machines, as well as Internet gambling have actually sped up the time it takes to gamble for fun and when it slips into problematic, then compulsive behavior.

Pathological gambling, like other addictions, is both a biological and a behavioral disease. While we don’t know all the factors leading to gambling addiction, they often include social, family and psychological elements. We do know that the brain neuropathways involving the brain’s mechanisms are affected in an individual’s perception of rewarding experiences. The emotional escape that an individual finds in gambling may become entrenched.

We have seen from 15-20 percent of patients who suffer from cross-addictive disorders, such as alcoholism or drug dependency with problem gambling. Some estimates state that 35 percent of those with substance abuse or dependence also have met the diagnostic criteria for pathological gambling at some point in their lives. The SOGS (South Oaks Gambling Screen) is the accepted psychosocial diagnostic tool to identify a gambling problem and its progression.

Both substance and gambling addiction are progressive diseases, and may be characterized by inability to control impulses (to use or to gamble) denial, anxiety mood swings and depression and the need for instant gratification. Gambling, like chemical dependency, offers euphoric highs, which are inevitably followed by emotional valleys and usually remorse and shame. A major difference in gambling versus substance addiction is that the alcoholic or drug addict doesn’t believe the substance is the answer to recovery and to his problems, while the compulsive gambler believes the Big Win will be the answer to all his problems.

Gambling addictions can also result in symptoms such as blackouts and sleep disorders and hopelessness. Divorce, relationship and work problems, even arrests are some devastating consequences of compulsive gambling. A person’s general health is often neglected, including medical conditions that have been ignored. Gambling addiction is certainly a family disease, creating a dysfunctional family system that revolves around the individual’s addiction. Children may be emotionally stranded as well as physically neglected. Kids are affected long term too, with studies estimating 35 to 50 percent of children of pathological gamblers eventually experiencing gambling problems of their own.

It is important that when chemical and gambling addictions co-occur, they are treated at the same time. Like chemical dependency, gambling addiction is addressed in holistic treatment based on the Twelve Step Philosophy. Treatment is individualized and takes into account issues of gender and age.

Gambling: is it the money?

Some experts, including Dr. Henry Lesieur, St. John’s University, NY, who co-authored the SOGS screening assessment, believe it isn’t really about the money, even though money becomes a looming issue. Seeking action seems to be the major impetus for many. Being in action may be similar to the high of taking cocaine. “Chasing losses” is term use by habitual gamblers to describe attempting to recoup the gambling losses by winning. The action gambler usually likes to gamble on site, at a casino, racetrack, or other “live” venue. Often they are identified by casinos as “high rollers” and received comped rooms and meals. Others, though, don’t gamble for action so much as numb their feelings with compulsive gambling, so it becomes the ultimate, albeit temporary escape.

Age and gender as factors

A study by University of Connecticut Health Center psychiatrists published in 2002 evaluated gamblers seeking treatment and found significant differences by age and gender in pathological gamblers. Middle aged (aged 36-55) and older gamblers tended to include more women, at 45-55 percent, than younger gamblers (aged 18-35) at 23 percent. Middle aged and older women didn’t begin gambling regularly until the age of 55, while older men reported a habit of lifelong gambling. Perhaps surprisingly, the women also wagered greatest amounts in the month prior to treatment. Younger gamblers reported most problems with substance abuse, social and legal problems, while older gamblers found more employment-related problems.

There is hope for recovery

Pathological gamblers, like others who suffer from addiction can and do recover. Cognitive Behavioral Therapy, with Rational Emotive Behavioral Therapy, can change unhealthy behaviors and thoughts, including false beliefs, rationalizations, and self-destructive feelings. Dialectical Behavioral Therapy also helps individuals to meet life on its own terms rather than escape painful emotions with compulsive addictions.

A holistic treatment program that addresses the root issues of addiction as well as any co-occurring disorders is an effective approach that treats the whole person. Continuing care may be essential, especially for impulse control, as well as ongoing participation in support groups such as Gamblers Anonymous. The recovering gambler may also need professional financial advise, and family therapy can help to develop a supportive, healthy family structure for sustained recovery.

Expert Football Picks – Bet on Football and Win!

Expert football picks is one of the ways to find out who could possibly win in the next football game of the season. Gambling has been one of the favorite pastimes of people, and anything can be gambled on nowadays. Football is not an exception.

The Internet is an excellent resource of information regarding football. You can check on stats and rankings, standings on the Internet. But before you make a bet make sure that you are knowledgeable enough to know what you’re getting into.

First off, read on the game. Football gambling involves money, and if you don’t know how to manage it, chances are, you’re going to lose money. It would be best if you would go online and search for information; articles and websites that would let you in on the tricks of the trade. It would also do you good to know something about the game than nothing at all.

These articles will also give you information on expert football picks and what they can do for you. People would actually tell you on who they think would win on the next game. They would also tell you what they think the final score will be. They will actually be predicting the outcome of the next game. These people are called handicappers.

Handicappers are people who would allow you a sneak peek on what could possibly happen in the next game. They have spent a lot of time and effort in studying each and every team and player in the industry. Especially if you are still starting out in the business, these expert football picks would help you a lot. These people are very well-versed with the game.

One thing that you can count on is the experience of the handicapper. The longer he has been in the business, the higher the percentage that his predictions will be correct. This is due to the long hours of observation and studying the players and the teams as well. Experience is the basis of their credibility. They would be charging a fee for their services, or they could also ask for a percentage from your winnings.

There are several things that are considered in making a pick. This may include the strength of the team during the last 5 games. It could be the overall strengths and weaknesses of the team. It will all depend on the game plan of the handicapper, and it is all up to you who you will follow and which team you’ll be placing your bet on.

Having a handicapper is not a requirement, but it will surely save you the time and the effort of having to study the teams’ performance. Plus, if you’re new to the league, these are the gurus of the game. So they would be able to help you a lot in making a decision on which you’re going to pick and who you’re going to trust with your money.

As mentioned earlier, there are no guarantees with regard to football gambling. Expert football picks are there to help you decide on which to pick according to someone who have had experience in the game. In the end, it is still going to be your decision.