If you think you can make a normal living from gambling, you have to think again. Gambling is all about luck. The risks are high, and the same applies to your chances of losing your money. The odds are always going to be against you, even if you spend thousands of dollars.
It is a lot of fun though, but you need to be very careful specially if you are on a fixed income. If you wish to play a little, the best games are poker or blackjack, mainly because the house edge is the lowest in these games.
If you love the slots, try to make the highest bets using the most combinations. You also have to quit while you are ahead. If you find yourself winning a little bit of money, try not to press your luck, and plan ahead on when you think is the best time to walk away. Clearly, it is best if you do not gamble at all, unless you are a real professional. Even then, it’s still risky and is not certain at all since someone better than you may come along. If you don’t want to lose money, then do not gamble with your money.
Another form of gambling is playing the lottery. However, you still can’t know for sure that you’ll win any money. But your chances are better in terms of at least getting your money back in some games or maybe gain a few dollar if you manage to guess a few numbers correctly. Every state has state lottery, even in states where casinos and horse tracks are not legal. The lottery is also a better option than a casino since you are likely to break even or win a few dollars. You have a lot of lottery game choices and on some of them, the odds are good that you will win something if you play often.
For some folks, online gambling is another option, but the same long odds apply. The income is not stable and even if you do make money for any month, there will always be a risk of losing it in the same month. Being an expert is not assurance that you will not lose money. You will go through this ebb and flow of losing and winning, and for you to make it through, you have to be a gambling professional and you have to have deep pockets too.
Remember that in recent years, personal bankruptcy rates associated to those who gamble often, have risen substantially. A reported correlation between greater access to gambling facilities and state and county bankruptcy rates suggest that increased availability of gambling might be an important factor explaining the increased national bankruptcy rate. You do not want to be included in these statistics.
With the economy being in bad shape these days, it is better to let your money grow interest in the bank. If you are the aggressive type, invest your money in stocks. If you want to err on the side of caution, go for mutual funds, where your risks are distributed across hundreds of companies. If you go this route, you will not only make more money but you will end up keeping it in the long run, specially if you did your homework and paid attention to which corporations or mutual funds are financially sound.
By Abigail8723 Burton
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