General Betting
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08 Dec 11
15:40
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15 Apr 02
Everybody gambles for different reasons, but we hear so much about the 'mugs' - How do you know if you are one?
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If you place a bet with no objective reason, whether it is to lay or back bet.
If you guess, use a hunch or your reasoning is subjective you would most likely be in the mug category. You need to have, if placing a back bet, 1 or more logical reasons why it can win and if laying a logical reason why it will lose. |
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Mug punters think they lose their bets only because of bad luck, they refuse to admit they made bad decisions. Too bad because sometimes with just more work and thinking they could improve and become winners.
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if you try to pick winners and don't have a system or trade like say, The Investor
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Proof you are a mug is backing loads of short price horses that lose yet having too much ego to lay these same fancies.
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People who when backing or laying announce their picks without considering the prices.
In other words they try to predict the outcome, if they back they back at any odds, and if laying lay at any odds. People who bet on someone because they want them to win. Anyone who bets on casino, arcade, exchange games. |
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somebody who tells their missus they are going out for a drink if they win
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Pretty much anyone who bets on Betfair multiples.
Punters who just can't understand the concept of expected value. People who think all winners are lucky and all losers unlucky. |
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In other words they try to predict the outcome, if they back they back at any odds, and if laying lay at any odds.
agreed. this is me. sadly i know not the alternative  |
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There are essentially two types of mugs.
The worst type is anyone who chases losses. The normal type is anyone who has a long history of losing more than he/she wins, yet continues to bet in exactly the same manner as he/she always has. And of course the key identifier of these two types to most of us, is that it is always that other person over there. |
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it is always that other person over there.
how do you mean Mr Frog? |
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...are you referring to self-denial?
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Nobody mentions fun? - Surely that comes into the equation somewhere?
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Not if you clearly know that's why you're betting, and you get a " fun" return in doing it.
Fun has a value you know. |
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Joe loses 2K a year - but gets loads of action and thoughly enjoys it.
Bill is a cold hearted pro and makes 25K a year - but could make treble that using his undoubted skills elsewhere. Ted logs on here 5 mins before the start of every live footie match and has £25 on either home/away/draw..purely at random.He's pretty much level each year (before commission) - but again enjoys the action. Who are the mugs? |
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None.
Certainly not Bill as you seem to be insinuating. He may be a mug, but not a mug punter. |
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I consider a 'mug'to be anybody who doesn't do two things :
- keep a record of their bets and profit and loss summary -It doesn't matter whether they win or lose just that they know how much. - ask themselves "Why do I gamble?" |
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keep a record of their bets and profit and loss summary -It doesn't matter whether they win or lose just that they know how much.
agreed. you simply must know how much up/down |
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Well I would say that I think that both those things are totally unnecessary for a casual gambler punting well within his means for a bit of fun and excitement.
Do you keep detailed records on everything you do in life. Of course not, so why do it in gambling if it is just a run of the mill part of your general life. You're stigmatising the fact that you like a bet. Do you keep a record also then of what you spend on drink ? A detailed note of every visit to the pub ? |
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Hello there Abolo.
Could you clarify where you said "Mug punters think they lose their bets only because of bad luck, they refuse to admit they made bad decisions." Are you saying that if you make a good decision you can pick a winner and if you don't you'll end up picking the loser. If I pick Arsenal to beat Everton at the weekend because i do some research and think their price is too high and they don't, am i a mug punter because i believe that it was only bad luck which meant that Arsenal didn't win the match even though my decision was based entirely on the price. |
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No I don't but everybody makes economic decisions regarding their drinking:-
-cheap supermarket drink at home? - more expensive but pub atmosphere? etc If the casual punter doesn't know how much his "fun and excitement" is costing him - then how does he know whether he is getting value for his money? Can he get the same "fun and excitement" for a cheaper price? |
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Value for money ?
Shoot if I approached everything in life like that I'd be forever running around comparing prices. I define a major part of fun and enjoyment as being able to do something spontaneously without too much forethought. Btw I certainly have never drunk where it is cheapest. Also drinking at home to me is positively the way to ruination, particularly if you're short of cash. |
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for me it hurts to be down to a betting site with my hard earned, and the only consolation is knowing what that figure is so i can deal with it
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I don't think there's ever been any question Frimpong that you are a classic mug punter.
But as long as you realise it and are not gambling beyond your means, it shouldn't be a real concern, unless you feel it is starting to dominate your life. Let's hope that is not nor ever will be the case. But your last post is a bit of a worry though. |
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I don't think there's ever been any question Frimpong that you are a classic mug punter.
why the unfriendlyness Froggy man?  |
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Unfriendly frimpong ?
I thought in fact that you were rather proud of your mug gambler status on here. A sort of badge of distinction amongst all the self-declared gambling wizards and pros on here ? Has something changed in you that I haven't yet noticed ? |
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I have noticed a slight weariness in your posts in the last few weeks Froggy....you are not reaching a significant landmark are you?
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Such as jimmy ?
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Btw I'm trying to be softer and gentler in my posting style.
Do you discern that as weariness instead ? |
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I fear so...
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40, 50, 60, 70?
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I'm certainly getting a bit weary at the moment waiting for Juventus to do something positive.
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They are all significant landmarks ?
God forbid. |
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Oh well done Froggy....they have scored
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Oh and waiting on Newells as well ?
I hate 0-0 draws. Might as well as not played the game at all imo. |
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Last minute only goals are a pain in the arse as well, even if they go your way as in this case.
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I thought in fact that you were rather proud of your mug gambler status on here.
hmm ok Froggy. i wouldn't say proud of mug gambler status. i am proud of my honest gambler status. there's a different. i am still in somewhat disbelief of the local (and so-called/self proclaimed) gambling wizards and pros on here . i've just never seen evidence of it, and everyone i know and have ever met in real life who gambles is a mug  |
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You move in the wrong circles Frimpong.
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