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Why lottery tickets are a waste of money? Only bet when you have a realistic chance of winning!

December 18, 2013 by  
Filed under Recent Articles

Learn to Adapt

Everything in life is affected by change – especially racing and the way the modern punter bets. In my opinion, there has never been a better time for punters than the present.

There are so many useful tools available to help us all turn a profit from our betting activities. From betting software to advanced form guides, to backing, laying, trading, arbing, dutching, laying the field and so on. The tools of the trade get more sophisticated each year.

Even Betfair has changed markedly since its origin a few years ago. In order to remain profitable you have to re-evaluate and evolve with the platform. When one method suddenly becomes non profitable because of over exposure, look for another to compensate.

The main problem, unfortunately, is that there is so much information, and so many different products available, it’s become very difficult to see the wood for the trees

 

If you are going to invest in betting software, or subscribe to a tipping service etc, make sure you ask plenty of questions upfront to evaluate whether or not you need this widget /info in your betting arsenal.

Change happens

Smart punters recognize they need to be flexible. In an ever changing world we all need to accept that responding to change can completely turn a situation around. “Shit happens!” as the saying goes.

It’s what you’re prepared to do about it that ultimately determines how things turn out. The point I’m trying to make is that betting is never static because its based around factors which are constantly changing.  Since Betfair arrived on the scene a few years ago, things have clearly changed.

In order to stay in profit we all need to move with these changes. The betting markets are now full of every kind of punter you could possibly imagine – arbers, layers, backers, traders etc.

There are so many different ways to approach betting these days it’s enough to make your head explode, from sophisticated software to bet placement agencies.

Betfair`s ever evolving platform provides punters with so many choices. Consequently, when one income stream dries up, it’s not long before another becomes liquid.

For that reason — even though it’s essential to take on-board the proven principles in this book — you still need to remain flexible in your approach to betting situations.

Lottery ticket syndrome

A large percentage of any countries population play lotteries. Clichés such as, “You got to be in it to win it” etc, are plastered all over TV advertising. Unbelievably, a tiny minority of people win millions each week, but the reality of this actually happening to YOU is very slim indeed. Lotteries are games of random probability.

The odds of winning top prize of theUK lottery are an astounding 14,000.000/1. Yet people chuck money at this game without considering this fact

 

Only EVER play games or bet on outcomes you have a realistic chance of winning, i.e. there can only be at the very most a handful of possible outcomes.

This factor alone makes playing any lottery style game a total waste of money.

Yet ask anyone buying a ticket what the chances of winning are and they won`t be able to give you an honest answer, quite simply because they don’t really know.

The determining factor why they buy tickets in the first place is because of the extremely remote possibility of winning a life changing sum of money.

Ultimately this is a greedy man’s game, and the only positives to come out of it are that charities and good causes are donated some of the money.

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Jonathan Burgess

Jonathan Burgess is an official Betfair Accredited Trainer and racing columnist for various respected betting industry publications such as: Betting School, The Daily Punt and Betfair’s Education site. He also runs the Profitable – False Favourites Betting Tips Club Which cost just 24 pence a day. You can also connect with him on Facebook and Twitter


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