Never Gamble to Solve Financial Troubles: A Lifelong Professional Gambler Reflects

In the world of gambling, many people turn to it as a means to solve financial difficulties. However, a professional gambler who has played the markets for two decades shares his experience and perspectives on why such an approach is fraught with peril.

A Personal Tale of Misguided Gambles

Some seek to gamble in hopes of getting money to pay off debts or resolve financial issues. For me, this was never an option. While betting can be entertaining, the odds are often stacked against the gambler, especially when emotionally driven by the need to mend financial problems. The allure of quick money is often misplaced with the grim reality of greater losses. Prospective gamblers need to understand the risks associated with their actions. Once a person betwrites with an unreliable or dishonest individual, forgiveness should be granted but never forgetfulness. The past mistakes serve as vital reminders for the future.

Responsible Gambling and Strategic Investment

Today, I remain fiercely committed to responsible gambling. I approach slots and sports betting with utmost self-control and adherence to set limits. The prudent gambler is always careful not to make their hypothetical financial situation worse by risking more. Money must remain available for necessities such as groceries, phone bills, and clothing. Self-mastery in gambling is imperative. A professional gambler who specializes in long-term markets can find refuge in the predictability of these scenarios, relying on well-researched strategies rather than impulsive decisions driven by desperate finances.

A Painful Lesson from the Past

One of the most painful days in my professional life transpired in 1989, during an important football (soccer) match between Arsenal and Liverpool. Playing in the second tier, Arsenal had just qualified to challenge for the championship, while Chelsea was relegated with a historic number of points, making their odds for promotion extremely favorable. The moment, however, was to be a pivotal one in my life. The odds for Arsenal to win the league were 16 to 1, while Chelsea's return to the top flight was 5 to 1. Their combined odds were astronomically favorable, nearly 100 to 1. This presented a golden opportunity to extinguish my debts and emerge ahead financially. However, I decided against it. I would have needed to max out my final credit card to bet the required amount, but I simply could not bring myself to gamble away what little I had. Anticipation built as the league season commenced, and then, ever so suddenly and bitterly, Arsenal scored the winning goal at Liverpool's ground. This single event made me question my decisions and even the rationality of my future endeavors. If only I had taken the chance. The regret lingered like a dark cloud over my professional life.

Long-Term Wisdom and Generosity

Years later, in 1997, I realized that betting on long-term markets with significant stakes was a shrewd way to manage my gambling. Inadvertently, I missed out on the potential winnings that year, but I did not regret the prudent financial advice I had followed back in 1989. It was a difficult lesson to learn, but one that has served me well. I have actively sought to put my gambling winnings to good use. Instead of using my earnings to solve financial problems, I have chosen to benefit others. For instance, a couple of years ago, I donated ￡80,000 to a Polish/Slovakian family with a chronically ill child to help them purchase their dream home. If not for my reluctance in 1989, I would likely never have had the chance to make such a generosity. In conclusion, while gambling can offer opportunities, it should never be a tool to escape one's financial troubles. The best approach is to manage it responsibly and seek out opportunities that can bring positive outcomes, even beyond monetary gains.

Keywords: professional gambler, financial troubles, self-control