Gambling has been around since the dawn of human civilization, bringing joy and sorrow to billions of people. It’s also inspired many brilliant minds throughout history to come up with their best works – Fyodor Dostoevsky, Ian Fleming, Hunter S. Thompson – to name a few.
And some of those geniuses have some wise words for you to remember. With that in mind, here are the 10 gambling quotes to remember!
It’s a funny thing, the more I practice the luckier I get
Arnold Palmer
Daniel Palmer was an American golfer and a true legend of the sport. It’s not just because of his professional achievements that he’s remembered by, it’s also because of his charismatic persona. Thought to be one of the wittiest sportsmen in history, Palmer is credited with a number of memorable quotes, including those that focus on gambling.
In this particular quote, Palmer plays down the importance of luck. For him, luck is only a consequence of hard work. Lady luck will look at you only if you deserve it. So, how can you take these words to your advantage in the gambling world?
Think of games where other factors come into play apart from luck. Sports betting and poker are just some forms of gambling in which you cannot rely only on chance. The more knowledge and skills you harness, the less luck you need.
There are many harsh lessons to be learned from gambling, but the harshest one of all is the difference between having fun and being smart
Hunter S. Thompson
It’s fun to bet on your favorite team to win even if they’re playing against ginormous favorites. But, if your team is the underdog, you can be sure there’s a reason for that – they’re just not good enough as the opponent.
Betting on your team could be fun, but it wouldn’t be smart. You would probably lose that bet because underdogs lose most of the time. In some championships, like the NCAAF, favorites win nearly 80% of the time.
Lottery: A tax on people who are bad at math.
Ambrose Bierce
Know your chances of winning! The odds you’re going to become a billionaire by betting a single dollar are incredibly low. Once you realize that the road to riches is a very difficult one, you will not get disappointed easily.
Knowing that your chance of winning the lottery is one in 14m means that you should probably look elsewhere.
If there weren’t luck involved, I would win every time.
Phil Hellmuth
Although you shouldn’t rely on luck, you need to always take it into account. It can ruin the things for you, so stay cautions. Do not go all-in, even if it seems there’s no way to fail. Surprises do happen when gambling is involved. Actually, that’s the whole point of gambling – anything can happen!
In most betting shops you will see three windows marked “Bet Here,” but only one window with the legend “Pay Out”.
Jeffrey Bernard
There are literally tens of thousands of online sportsbooks and casino websites out there. Have you ever wondered why? The reason is simple – gambling is a lucrative business. But, it’s lucrative for those who run the business, not to those who gamble.
No matter what, you just can’t beat the house. And if you can’t beat them, you better choose another opponent. Instead of trying to outsmart the casino, why not play against other gamblers? There are all sorts of games out there in which you are pitted against other players rather than against the casino.
In gambling, the many must lose in order that the few may win.
George Bernard Shaw
Choose your opponents carefully. If you’re a poker player, look for tables with inexperienced players, as those are easier to beat.
And if you’re a sports bettor, maybe think about betting exchanges, in which you get to bet against other players rather than betting against the bookmaker. If you search hard enough, you will be able to find players’ offers with incredibly good values.
The house doesn’t beat the player. It just gives him the opportunity to beat himself.
Nick the Greek
Nicholas Dandolos, a.k.a. “Nick the Greek” was a professional gambler who famously went from ‘rags to riches’ more than 70 times. If there’s a good authority on how to gamble, it’s definitely this guy! And he says that the biggest enemy of a gambler is the gambler himself.
You need to learn how to lose. Persisting on winning can have the opposite effect. So, instead of trying to break even right after a loss, it’s best to leave it and wait for a better opportunity.
A gambler never makes the same mistake twice. It’s usually three or more times.
Terrence Murphy, a.k.a. “VP Pappy”
People are addicted to winning – it’s a fact. Everyone loves winners, no one likes losers. But, what if you get into a losing streak? Your guts tell you to get back on the winning road, but your mind should be telling you just the opposite.
In order to be successful in gambling (or in any other aspect of life), you need to keep your brain in charge, not your emotions.
Eat your betting money, but don’t bet your eating money.
Unknown author
Bankroll management is the term to remember. Gambling without any plan can only result in a failure. And that failure can sometimes be impossible to recover from. One of the best pieces of advice we can give you is to allocate your gambling money and keep it separate from your home budget.
If you lose the gambling funds, that’s it – your gambling adventure is over for the moment. But, if you win, you can use the funds for anything you want, not just betting.
If you must play, decide upon three things at the start:
the rules of the game,
the stakes,
and the quitting time.
Chinese Proverb
Know when enough is enough. Gambling is supposed to be a fun pastime, but for some gamblers, it’s the whole purpose of life. When gambling stops to be fun, it’s time to go ‘cold turkey’ on it.
