don't chase losses

Every piece written by any so-called gambler includes this little nugget. 'Don't chase, there's always another day'. Cobblers. A proper geezer will chase down any amount on any subject in a desperate attempt to get his wonga back. The sense of relief at regaining your niagaras in the last race by backing 6 horses in a combination exacta at Towcester is a draining experience, but something everyone should experience at least 200 times in their life, as it is exquisite agony. Self-loathing and recrimination give way to a declarations of sobriety, discipline, study, and an end to frivolous wagering.

A boatload of lager is then required to 'celebrate' not winning anything. The next day starts with an earnest perusal of the Racing Post(dismal rag though it is), with the confident belief that two hours spent reading about every runner in every race to identify horses that 'can win', 'won't win', or are just 'bad value' and therefore must be laid, will reap dividends. If this 'research' is strictly obeyed, then profitable results are GUARANTEED.

Every time a delusional hilman happens to have a successful days punting he immediately ascribes his extremely short-term success to the fact that he 'did his homework' and if he only performed this task assiduously every day, and 'specialised' in 'what he knew' and he would be on the way to punting paradise.

Poor misguided fool. Analysis of gaily-attired midgets beating dim animals with sticks until they reach an oversized lollipop is not a scientific exercise.

Contrary to popular perception, gamblers are optimists, and it is an eternal verity among them that no matter how much they have lost, or how deep the soup they find themselves in, the situation is always redeemable.