Difference between a mug and a pro

I was chatting with a professional gambler last night and during the course of our discussion he said something which I thought some might find useful if they’re in the early stages of their trading career and those older hands can have a wry smile at.

The difference between punters and gamblers is that the punter wants to place a bet on every race.

mugs hold coffee, pros trade it

Bramble, what did area did they specialise in out of interest? Very true what your mate says, everyone gets what they want out of gambling at the end of the day. Difference is pro's want money out of it and can satisfy their other psychological needs for whatever stimulus in other ways. Mugs get a kick out the entertainment and the thrill of risk and hence, more of a rush in a backwards subconscious kind of way from losing money in some cases. Also pros are looking for one thing - price. Mugs - 'I'm gonna back Chelsea 'cos they're gonna win - can't lose mate' They'd just take the first price they get. A professional will look for value, eg. there's an evens chance of that happening, I want the highest price I can get and won't take anything below say 11/10..

Any sporting event where form is available and where he spots a pricing edge.

He does take outrights, but his bread and butter is locking in a profit on pricing mismatches all the way up to, and often after, the off.

Difference between a mug and a pro? About 100,000 quid.

TheBramble said:

The difference between punters and gamblers is that the punter wants to place a bet on every race.

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I've been trading football for maybe 8 months now and, certainly, I have to pick and choose the games I trade carefully. It's a combination of kick-off odds, in-game form and liquidity. About 10% of games over a weekend are suitable for the way I trade. Providing I focus only on those games that meet my criteria, I can actually make money "gambling" and minimise losses.

I have actually just realised this very recently.

TheBramble said:

I was chatting with a professional gambler last night and during the course of our discussion he said something which I thought some might find useful if they’re in the early stages of their trading career and those older hands can have a wry smile at.

The difference between punters and gamblers is that the punter wants to place a bet on every race.

Click to expand...

Selectivity

oh go on then .... since Mrs charts recommended it ... let me

Chartsy said:

mugs hold coffee, pros trade it

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Mug: "What is happening?"
Pro: "WTF? It's happening again!"

(Not original, but I liked it)