As an older man, I like to travel and have done quite well on horse racing. Whenever a young man or young woman thinks that they are going to have a fast going, horse racing system, I know that they are in for a surprise.

The betting public belief is that £20 a week will keep the deficit at bay and win you a few pounds which, when reinvested, leads to more gambling and more money in your pocket. Horse racing is to be one of the most expensive forms of gambling, both in terms of your immediate outcome in cash terms and also in terms of your potential outlay to improve your odds of success in the longer term.

Before I explain why £20 is not nearly enough to be expected from the horse racing system, I would like to make one point here, in order to prove my point. In the last two years I have made my living from betting. Every day I have either won or lost, Occasionally I have had one or two, but recently, between June and December, I won every month.

How is this possible?

By working out what information to look for, I have found that there are 85% losers and proverbial “Dewabet” in the betting markets. These are the people who, in the long-term, have the best and most unlikely chance of profiting from betting. They can be either roulette players, blackjack players, poker players, or bet fair players. In the short-term they can be quite good, but cannot predict the outcome of the Mini-paradise.

Taking punters out of the equation, you need to bet only on the outcome to win long-term, you need to act as a bookmaker to be able to emerge a winner.

How do bookmakers profit from being in the business? They rope in customers with a strong betting system, and hope that with discipline, hard work, and a bit of luck, they will spread the business and make a profit over time. Many times, that is exactly what they will do.

When bookmakers win, they can either win back the money from the losses or they can offer the money back to their customers, often at a high percentage. Some do both, but the conventional wisdom is to win, to get customers and to offer customers something for nothing.

The professional gambler, on the other hand, understands that winning can be built, and that in order to win, you have to continually expand your horizons and challenge yourself.

The professional will normally start with a bank that is ten times the size of their normal spending money. For example, if their normal spending money is £10,000 a year, they should have a bank of at least £40,000, by which time they have built up some amount of wealth.

The professional will then spend 10% of that £40,000 on bets that win. He will never have more than three or four such bets, because if they do, they will have built up an amount of capital that is too large for their daily habits.

If, for example, the bank had been £12,000, but the bet was only £500, then the bank would have £12,000, but not enough to enable the bet to be profitable. As long as the professional gambler can double the money he has built up, or win more than 3 times the amount he is spending, he will stay in business.

The problem with this approach is that if the professional gambler is running ever on any one of his bet, he can soon end up short of money to build wealth. Therefore, the majority of the time the profits stay with the professional gambler and not the bookmakers.

This is not to say that you can’t make profitable bets; it only means you won’t end up short of money so that the casino games you play are those you are most likely to be able to win at rather than the ones you are less likely to win at.

You’ll still end up losing the majority of your bets though, and that is where the vast majority of people Part 1 and 2 have been picking as their “guides” when they place their bets. That is a huge mistake and will only earn you misery and quite possibly destroy any money you have left in your bank.

Because the losses will come, even with the best money management schemes, you will find that you are losing a lot less than you were before you did your initial sums.

But you can make huge profits from the bookmakers if you have the bankroll to back them up. Before you part with any money remember that you won’t always make money when you use the services of a professional and approved bet calculator.

If you still use the services of a professional to do your bets, only treat them as a hobby.