Taft's Column: Profit
Everyone wishes for that play where they gamble a small amount and win big. Isn’t that what the lotteries are all about? More and more ways to use your gambling money are being presented on the internet, and almost everyone has their own portable casino right inside of their mobile phone. We should be cautious about what we play.
Profit should always be at the top of our thoughts. Just being right doesn’t put money in our pockets. Making a profit must be included in our thinking before we lay down our money. Playing favorites that actually win is o.k.; however, if you make that a habit and the profit margin isn’t great enough, you will probably end up on the short end of the stick.
If you’re good enough to pick a longshot on a frequent basis, then you can cover many of your previous losses; however, don’t hold your breath waiting for the big payoff winners, because you can suffer too many losses before that happens and find yourself desperately trying to recover.
Almost every regular winner I have ever met agrees with this: Pick your spots, and then bet good enough to come away with a healthy profit. And, if making a profit isn’t so all-fired important, then why has every successful business ever recorded shown us that keeping track of the bottom line, so-to-speak, ranks at the top of their priorities?
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