Wednesday, 21 May 2008

John The Gambler

I have written previously about the famous 'John The Gambler' but once again he is calling it quits so far as gambling is concerned. He had a well documented bad loss a while ago, although I never did read what the amount was, but in a way that is quite irrelevant. The fact is that however much it was, it was more than John was comfortable losing. 

Since I'm coming off two bad losses myself, I thought I might comment on this. For me, I am usually fairly disciplined, and just made a stupid decision on Sunday to involve myself in a game that I knew I wouldn't be able to see to its conclusion. My daughter is much more important to me, and as my very understanding girlfriend said to me later, in a few months/years I won't recall losing the money, but I will remember seeing my daughter in her show. She's very wise, as well as beautiful.

Yesterday's loss was just one of those losses that I still consider was value, but just didn't work out. What I'm not so happy about is the size of the loss, but I have learned another valuable lesson.

There are other reasons why I am comfortable with my losses, if comfortable is the right word. I funded my Betfair account with £100 back in March 2004 and haven't put in another penny since, so any losses are not directly out of my pocket. The other reason is that I have put together a long run of winning months, and although I am disappointed to see that come to an end, in a way it's a reality check for me not to take winning for granted so all-in-all I shall just take the past two days on the chin and get back on the horse with a solid profit on the Celtics tonight.

And this Betfair lark is also great entertainment for me. This may sound crazy, but the amount of money I win or lose is not so important to me as the mental challenge of finding value, or to put it another way, outwitting someone else who is sitting at home weighing up the odds in his underpants. Poor use of English grammar I know, but quite intentional.

The money is just numbers in an account, so it's easy to lose touch with reality. I would never dream of putting down £400, never mind £4,000 in cash, but numbers on a screen are a little like betting in a casino with chips. It's not really money. Except that it is.

How about a few comments? Like John said in his blog, it gets lonely out here.

1 comment:

Anonymous said...

Cheers Cassini.

The Gambler.