Lesson to be learned:

bryan305 · Jan 17, 2004

Don't do what I did this week.

I was confident in a few of my picks, so I bet 33, 15, then 30 units on each game. I lost every one. Since I started last year, I built my bankroll up 160%. Not too bad for a noobie, right?

Fast forward to this week... I have just lost all the money I've made up to this point. IN ONE WEEK. Regardless of my 60% record in basketball and hockey, I have nothing to show for it now.

Have discipline and don't let yourself bet above your limits. This is a surefire way to get on a book's good side, where you don't want to be.

MeyerLansky · Jan 17, 2004

bryan, i have been there many times. After huge money management blunders, you have to sit down and really talk to yourself. If you can't find it within yourself to know that this won't happen again, GA is the way to go. Believe me, many people here who try to come off as if they have never had to battle gambling's demons are lying to the people of the forums, and worst of all themselves. When you F... up, you have to pull yourself off the mat, and vow to never repeat those dreadful errors again.

MadCapper · Jan 17, 2004

Money MGT 101.

Keep the same wage amounts.

-MC

bryan305 · Jan 17, 2004

but hey, there's always tomorrow

JESUS · Jan 18, 2004

<BLOCKQUOTE class="ip-ubbcode-quote"><font size="-1">quote:</font><HR>but hey, there's always tomorrow <HR></BLOCKQUOTE>

There are no guarantees in life, no such thing as a lock.

PanchoSanza · Jan 18, 2004

I don't want to sound like I'm preaching but you will never be a winner if you can't manage your money properly.

I can't emphasize how important that is.

SENDITIN · Jan 18, 2004

Bryan,

Here's a little secret...start holding all of your friend's bets instead of pretending you can pick enough winners to overcome the vig. Other than the scalpers,bonus sharpies and middle players, few people make money at this profession despite all the bluster on this forum.

FairWarning · Jan 18, 2004

Senditin with the best advice.

soccerbob · Jan 18, 2004

bryan- Been there, done that. There's many theories and opinions about sports betting so different ones will apply to different people. It's fine to really like or even love a certain game but very few plays are so much better than a normal play that one game would want to make you play way more than you normally would.

Here's a very good example. Earlier this year I really liked the soccer card one weekend. I absolutely loved one game and really liked seven games. I unloaded on the game I loved and it went down. The seven games I really liked and didn't play all won and won going away. In fact in those seven games, the sides I liked outscored their opponents 17-1. Now what I should have done is play the game I loved for say 3% and the other seven games for 1 1/2%.

At least you know what you did wrong and admitted it. Take a break. Regroup and get right back at it and best of luck to you.

bryan305 · Jan 18, 2004

I see this exactly like I see the stock market. A company can look great on paper, but the next day a scandal can bankrupt it. I did do well with my betting up until this week when I started making stupid bets, so I'm not too worried about being able to recover and do better next time.

when I say there's always tomorrow, I'm not talking about a lock, I'm referring to life, where you always have a chance to do something better tomorrow than you did today.

SportSavant · Jan 18, 2004

this has happened to me 100's of times...work hard for weeks building a bankroll with hard work for a few weeks...then lose it all in one bet or in one night...bryan I wish I had a place like the rx when i was a newbie.....