Why So Many Poker Pros Die Broke
 

pretty interesting read - might apply to those in other fields of gambling

https://www.cardplayer.com/poker-new...pros-die-broke

https://i.imgur.com/tLyocjd.png

Like Kenny said.....
 

They knew how to hold em, not when to fold em.

I don't recall the exact percentage...but quite a few NBA players are broke within 5 years of retiring.

Same deal as the poker players --they didn't save anything--bought ridiculous expensive cars, homes, etc, with nary a thought to their future out of the game.

Most professional gamblers don't save money for retirement because they don't really plan to "retire". Since they are "self-employed" at a non-strenuous profession...they figure that they'll be earning a living gambling for their entire lives. They like what they do...and they see no reason for them to ever stop doing what they obviously enjoy. What hey fail to realize is that the time will eventually come when they will no longer be able to beat the game on which they currently depend upon for their survival. You need to be among the very best in order to earn a living from a gambling game for any length of time...and only the very talented can stay in the upper echelon of their game of choice for their entire gambling lives. The rest of them eventually hit the skids, and, since they have no other marketable skills...they talk themselves into believing that their economic downturn is just another one of the many losing streaks that they've already overcome...and they keep playing until they get completely broke.

A gambler better know his limitations.

How do you feel about a very strict budget or perhaps quarterly withdrawals.

A strict budget is absolutely necessary...IMO. How to actually do it will depend upon the amount of risk that the particular gambler's life circumstances will allow him to accept. I have my way, and it works for me...but we are all different...and must find our own way of doing things.

Thanks.....Thankalos :ThmbUp:

blackjack, slots, and...… horses. ;)

Pari-mutual racing is not your friend,take out in the long run not including the corrupt stuff!

Because when they hit it BIG, by coincidence they happened to find the love of their life shortly thereafter.

Old expression " Bet what you can afford to lose". Today all they know is "I'm ALL IN"