Online Gambling Sites UK
Before we get to anymore new casino games that will be addressed, let me again bring you up to snuff about gambling. It is a rough, tough, mentally devastating, frustrating battle that requires more than just a complete knowledge of the game you play. This is one of the reasons to play at best online gambling sites!
Gambling requires more than just knowledge
Everyone who gambles has a chest full of war stories of how they lost fortunes when such and such a thing happened to cheat them out of a win. Sports bettors in particular go through more hell than anyone, because most games go right down to the last shot, last pass, last at-bat, last pitch, an error, a bad call, a stupid decision by a coach, a bad bounce, to name just a few of the thousand ways to lose a game.
You wonder why I know about these things? Because I’ve suffered through every single solitary one of them. So how do you handle a losing streak in sports? By cutting your losses lower and lower as you keep losing. That is done by reducing your bets while in a losing streak.
It’s really funny the way streaks work. When I’m hot, its Snap City to pick winning games. You take a 4-point favorite and it wins by 29. You walk up to a craps table to play the inside numbers and twelve consecutive shooters hold the dice for at least twenty minutes. You play Pai Gow poker and the dealer doesn’t get a pair for ten straight hands.
Then when you’re going bad, you lose every game at the buzzer, nobody at the craps table can throw even one 6 or 8, and the dealer in Pai Gow has two pair or better every single hand.
How do you handle these losing streaks? Not by trying to break the trend by betting higher. You either quit, bet smaller or embark on other outlets like taking your wife out more often.
Since that last option is foreign to most guys, the intelligent thing would be to cut your bets to the bone, set strong loss limits and accept small returns.
That’s what I’ve been trying to convey to anyone who’ll listen. Years ago I was the biggest dork to ever put a dollar in action on the outcome of a blackjack hand, crap roll, or ball game. Oh, I got ahead all right but always gave it back. I was a genius when it came to being a dope.
When it came to doing my TV and radio shows, lectures, and seminars and in my books and videotapes, I always stressed money management and discipline – because that’s what gambling is all about. Many people listened and changed their way of playing. Mostly they were gamblers like me, who got sick of losing.
So while you’re reading these pages on knowledge of the game, get to realize that it is truly only 20 percent or 25 percent of the package you gotta bring to battle.
We’re almost through this section and then comes “the difference,” which I explain in the parts on “Money Management” and “Discipline.”
Will you listen?
Goals for Becoming a Good Bettor
I will go into each of these in more detail later on, but these are the keys to being able to win at the casinos:
1) Bankroll – You need a bankroll, whether in sports betting, poker, casino online or whatever you are betting on; you need a bankroll! Determine what that bankroll is going to be based upon the amount you want to risk.
I want to play at the $10 table limits at the casino. If I don’t want to go broke because of bad luck, I will need to bring at least $1000. In casino and poker, you will want to have 50 to 100 “units” or individual bets at any one time. Do you only have 25 units left? Then break those in half and play at a lower betting level.
In sports betting, you never want to have more than 5% of you bankroll on any one bet. You also never want more than 15% of your bankroll in bets at any one time.
2) Knowledge – You have to know the game that you are going to play thoroughly and you must practice this often to keep sharp. I have already gone through the basics of a lot of these games in other posts.
3) Money Management – Set plateaus. You need to know how to bet in comparison to how much is in your bankroll. Set winning goals and set betting patterns to mitigate losses. Runs are a part of any betting activity, both positive and negative. Money management is finding a way to stay afloat when the negative run comes.
4) Discipline – This is the easiest way to lose. Don’t bet with emotion when you have lost a couple in a row. Betting should be done in a calculated way. Don’t throw a $50 bet out there when you only have $700 left of the $1000 that you brought. Keep betting $10 and $20 until you can your own run. Then, try to ride that run with progressively larger bets.
Gambling Online Is An Entertainment Experience
Everyone has a really great time when it comes to playing their favorite casino gambling online games. It doesn’t matter if you enjoy the random, no-brainer action of the slots or the strategic group action of a game of poker – it’s all about the fun and good times. Quite simply, gambling online is an entertainment experience.
Nonetheless, you need to always keep in mind the following – gambling online involves a a lot of money, and there is always someone making it. Online gambling casinos make tons of money off of… well, that’s right – gamblers.
That means you.
Of course, you already knew this, right? You are fully aware that when you go to an online casino gambling site, you are paying your hard-earned money to play video games. You are wagering the fruits of your labor. But it is entertaining, and above all – it’s your money.
It is an inescapable fact, something quite obvious, but nonetheless worth reminding you. You are paying to have fun, much like when you o to the movies or to a bar for a few drinks. The big difference is that the price tag for this “fun” is not a fixed number.
Legalized gambling, and in particular gambling online, continues to be one of the fastest-growing industries, both in the United States and abroad. For example, in Australia, revenue from gambling has more than doubled over the last decade, with player losses totaling AU$12 billion yearly.
That is why you have to keep in mind that no matter where you make the bet, at a land-based casino, or a sportsbook, or just gambling online – the house always has an edge, always has the advantage in one way or another. This house edge is usually between 1% and 20%.
It’s important that you choose a game with a lower house edge. Online casinos feature a lower house edge for games that have lower maximum pay outs, and for the games that are more difficult to play, such as blackjack and craps.
This way you keep enjoying your entertainment, but it doesn’t cost as much.
Visiting Gambling Sites Online Remains Safe, Secure and Fair
Gambling sites online have quickly become one of the Internet’s favorite sources of home entertainment. As with any other business requiring safe and secure online transactions, the glooming fear of fraud and identity theft is a tangible element at gambling sites online, especially in view of the fact that these gambling sites online, both casinos and sportsbooks, rely on software to run casino games, results, and payouts.
This software in turn relies on the protective measures that these gambling sites online implement to protect themselves and their customers.
When it comes to online gambling, these companies concern themselves with casino game security and customer privacy. Although Internet fraud isn’t a rampant problem, the sole existence of it demands security measures to protect the assets of the gambling sites online, and in particular the most important asset of all – customer information and privacy.
One security component is the certification process. Many top gambling sites online feature logos and certificates on their sites. These security features indicate that the casino software have been audited and checked to deliver what is claimed.
The financial records are also checked to make sure the payout ratios that are displayed on the site are accurate. If the online casino or sportsbook is awarded a certificate by a third party auditor, take it as an indication that this website practices safe, secure, and fair gambling.
Land-based casinos are always on the watch for cheaters, card counters, and other types of casino white-collar criminals. Gambling sites online must watch out for hackers and whiz kids trying to collect credit card information for fraudulent uses.
New software, such as “Fairdice,” has been launched as the new tool for fighting fraud at gambling sites online and creating a more trustworthy network and gaming environment.
Douglas Ray, of Fairdice, says: “This will deal a bitter blow to con men and criminals in the gambling industry, and clear the way for the honest online casinos who give their players a fair chance.”
The curse of losing can become a good spell
Imagine that you have just suffered a particularly devastating loss on the slot machine. You are trying to think of a strategy of explaining the situation to your wife without getting your head blown off. You promise yourself that you will never play slots again.
That is not a very pleasant set of circumstances to be in. However I am going to give you some comfort by looking at the tax implications of losing video slot games. There is nothing that can replace winning or mitigate losing to the full extent but I hope this can make you feel a bit more philosophical about your situation.
There are also good ways to make sure that you lose too much in the first place though. Try some of the free online slot tournaments instead. Not only are they free to enter, but they are also cheap to re-buy and gives you a lot more time to play with less money.
If you make a significant loss on your slot machines, the IRS might be able to let you deduct that loss from your overall tax liability depending on your individual circumstances. The first rule to overcome is that you must be designated as a professional gambler and specifically as a slots player.
The requirements for these are that you have verifiable records that show that you continuously earn an income from playing. Therefore you might be required to produce documentation that points towards your status.
The second rule to be wary of is that you can only deduct the losses that are equivalent to your winnings. The IRS is not a charity and does not wish to give you free tax dollars. They create this rule so that all gamblers including slot players do not exploit the loophole to make excessive deductions.
The calculation is based on the total of winnings within the year so that you end up with a neutral situation. For example if you win a total of three thousand dollars in that year, you will only be able to deduct losses of up to three thousand dollars for that year.
Making sense of the tax code
As you can see the government is aware that slot machines like any other form of gambling has an element of pure chance. By just concentrating on your winnings, they try to ignore the chance issue. Thus the winnings become an income that no longer has anything to do with chance whereas your losses from slots are pure gambling chance.
I think that this maintains certain rationality to the tax system. I personally do not want to operate in a tax jurisdiction where the tax code is determined by the chances of winning on slot machines. This creates a very haphazard and shambolic framework.
At this juncture I have to point out that you have to go through a record keeping process for your losses on slots if you want to be allowed to make a deduction. This means that you have some basic information such as where and when you made the loss that you want to deduct from your tax bill.
From the above you can see that becoming a professional slot machine player is not as simple as it sounds. You might need some accountancy aptitude to get through the government traps that are set for you.
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