Down $2300, Plan to win it back, need a money management plan

insmgg · Jul 24, 2009

Lost $2300 betting on baseball over the past few months. I don't know what it is, but everything I touch in baseball is a loss.

So I'm going to wait for college football season to start. I think capping college football is much easier than baseball.

So here's where I need help. I want to have a system planned out and not just make random bets. I need to decide how much base money I'm going to deposit into my account. That is the money I will use to get back to even from baseball season. I need to decide how many games I will bet on a week and how much money I will put on each game. I want to be smart about this.

Your suggestions would be greatly appreciated!

-Insmgg

FairWarning · Jul 24, 2009

Bet $50/100 per game (or whatever you use for a base)
No parlays
No teasers
No chasing
No MNF

OnWisconsin · Jul 24, 2009

first thing i would recommend is getting rid of the "i'm gonna get it back" idea. approach each day as though it's brand new. what you won or lost last night or last week has no bearing on today.

this year i am implementing a "make deposit on friday and cash it out on monday" strategy. depositing a chunk at the start of the season and keeping it there has never worked for me. after a few losses, i have a tendency to donk off the bankroll i've been trying to build, and then it's back to starting a new one. if i want to bet an average of 50 bucks a game, and let's say there might be 4 college games and four nfl games, then i'll deposit 400 bucks before the weekend kicks off. maybe i'll decide that i only like a certain game, so instead of betting 50 per i may decide to bet 200. whatever remains in my account i will withdraw on monday morning.

just something i'm trying personally, i can't yet testify to the merits of the above.

insmgg · Jul 24, 2009

Damn 50/100$ a game? I'm used to betting 500, but maybe that is why I'm down so much. Can I really make my $2300 back over the season betting that little a game?

OnWisconsin · Jul 24, 2009

insmgg said:
Damn 50/100$ a game? I'm used to betting 500, but maybe that is why I'm down so much. Can I really make my $2300 back over the season betting that little a game?

you said you were down 2300 over a few months. if you're betting 500 a game that's only four or 5 bets with almost half a season left.... :dancefool

Dante · Jul 25, 2009

soonerdawg said:
first thing i would recommend is getting rid of the "i'm gonna get it back" idea..

sharp post its not like a hand of crackjack that you can try to double up next hand to win it all back

mrcrash · Jul 25, 2009

bet it all on one good game.

M.Saracen · Jul 25, 2009

i don't believe that you regularly bet $500 a game and yet you're down $2300 because "everything you touch" is a loser. because yeah, that's only like 5 bets.

be honest with us and yourself before you start gambling. step two is being disciplined and having good money management.

just fade the public on nfl and take sec home dogs getting double digits. over the course of the season you'll win money.

CoolBreeze22 · Jul 25, 2009

#1 you should flat bet. #2 set some goals.

NFL goal +8 units for the season

College Football goal +12 units for the entire season

NCAA Hoops +15 units for the entire season

NBA Hoops +10 units for the entire season

MLB +30 units for the entire season.

Prop bet/and alternative sport goals +5 units for the entire year. $100 units Hit your goals and at the end of the year BOOM 8k. Hope that helps. Oh, and most importantly, pick some fucking winners along the way.

YourAllAmerican · Jul 25, 2009

Reading that you bet $500 a game and are sweating a $2,300 hole tells me one of two things is almost certainly true:

1. You're betting way, way over your head.

2. You're not telling the truth about the size of your wagers.

If 1 is true, cut the size of your bets to 10 percent of what they are now.

If 2 is true, get your head on straight. Nobody on this site cares how large or small your bets are. Winning ability is all that matters.

FairWarning · Jul 25, 2009

insmgg said:
Damn 50/100$ a game? I'm used to betting 500, but maybe that is why I'm down so much. Can I really make my $2300 back over the season betting that little a game?

I worked a -$1500 balance to +30 doing this. Rome wasn't built in a day.

OnWisconsin · Jul 25, 2009

YourAllAmerican said:
Reading that you bet $500 a game and are sweating a $2,300 hole tells me one of two things is almost certainly true:

1. You're betting way, way over your head.

2. You're not telling the truth about the size of your wagers.

If 1 is true, cut the size of your bets to 10 percent of what they are now.

If 2 is true, get your head on straight. Nobody on this site cares how large or small your bets are. Winning ability is all that matters.

a frickin men....5 bucks a pop in baseball for me, unless i really like the game, then it's 20

gtc08 · Jul 25, 2009

dont listen to these guys.

realistically, the fastest way you'll recoup that 2,300 is by getting another job.

youll just end up losing more in the end with your mindset.

harrington · Jul 25, 2009

Tail me in college and The NFL this year and I will get you're money back. :103631605

If you are betting $500 a game being down what you are down is nothing. If you are freaking out about an amount that small you should not be betting $500 a game. Don't chase and stop betting games because they are on TV. No teasers, parlays just sides and totals. Good luck my friend.

WorldNumberOne · Jul 25, 2009

stop now and consider yourself lucky.

by this time next year , you'll be down mid 5 figures...

98 % of the people on this forum are long term losers . myself included.

bellyputter · Jul 25, 2009

Buy a CD. Good Luck

Dante · Jul 25, 2009

gtc08 said:
dont listen to these guys.

realistically, the fastest way you'll recoup that 2,300 is by getting another job.

youll just end up losing more in the end with your mindset.

very good advice... but we know your not going to follow it which is fine... best of luck

KillaRSox · Jul 25, 2009

Am I understand this correctly, this guy needs to lie to us about how much he wagers on games??? but he wants to ask us for help with money management????

insmgg · Jul 25, 2009

Lol I'm not sure why some of you are accusing me of lying..here's some screenshots of recent (and very painful) losses

http://img23.imageshack.us/img23/1727/wagers.jpg

You're right that I'm betting over my head. I'm going to try to make $50 or $100 bets when college football season starts, and I'll only make a small handful of bets a week. Hopefully over the season I can slowly work my way to being back in the green

How much base money do you guys think I should start with?

I was originally thinking of putting $500-$1000 on a Gator football game, but that probably would've been a big mistake..

celticGreen+ · Jul 25, 2009

If you have $500/bet to post up, why are you sweating a $2300 downswing...? Seriously.

If you're betting over your head it's real simple, you'll run out of money and have to stop. Be glad you're not on credit with a local.

There are plenty of threads on money management here, if you're serious about this do a search and come back here and tell us what you've decided on, and then perhaps you'll get some more suggestions on fine tuning your plan.