Seven Red Flags When Gambling

There are the Seven Red Flags I see every single time when gambling. Most will completely miss them. And if you have even seen them, you just need to stop gambling immediately. Not next week. Now! Don't wait till tomorrow. Right now!

Here is one of them.

So, you're winning 70% of your sessions, but your average winner is $200. And your average loser is like $700. Seven winners times 200 = $1400 bucks of winning. You're losing 30% of the time -700= -$2100 of losing. Your net is negative $700 bucks. In this case, a 70% win rate, which sounds amazing, but it's still losing money. This is one of the most dangerous patterns. Your emotional validation, not for profit. You never want to be gambling for emotional validation. You want to be gambling for profits.

This red flag reveals you've abandoned your process. You're chasing the game.

When you start chasing the game, there's a clean and clear solution. STOP!

 The red flag is that you start to justify bigger losses, and it's a really slippery slope. A couple of years ago, I was coaching a player we'll call him Rick. Smart guy, disciplined.

 He'd been profitable for I think eight months straight. His max loss per game was around $1,000.

 And he was pretty good about following those rules religiously. He had built his bankroll

up from $200 to $500,$1000, for eight months. Then one day, he was at the table ready to play, and everything went in his favor initially, but then quickly went against him.

He hit his $500 stop, but instead of stopping, he moved his stop. He told himself, "The strategy is still kind of valid. It just needs a little more room."

He moved his stop from $500 to $700. Stop loss hit the $700, but he moved the

stop again. All right. Now, I know this is going to turn out, he told himself. Look, it worked.

I know this pattern. Loss hit $1,000. Now he was thinking, I can't take a $1,000 loss. That's going to ruin my day. That's going to set me back. This was all happening in a matter of minutes. He was talking himself out of good risk management because he had been in profit initially, and then it quickly came back against him. So what did he do? He held it. Finally, it got to this max pain point where he was like, I don't know if it's coming back.

The loss he took was $1,800 bucks. He finally cut bait and cashed in at a $1,800 lose. The fix is after every hand or roll of the dice, before you make another bet, I want you to check yourself honestly.