Alright. I have been losing like no other. It may be the way i bet. Because i turned $80 into $600 and then did 2 $200 parlays (Stupid, I know), but how do you stop yourself from making these dumb plays. I know that it's only week 4 of NFL and still got 12 weeks left. Basically my question is how do you stop being a degenerate?
TIPS ON MONEY MANAGEMENT (Post em here)
- Thread starter OctoMan
- Start date
cheapseats
EOG Master
Re: TIPS ON MONEY MANAGEMENT (Post em here)
pm gyno, one of the very best at this
pm gyno, one of the very best at this
diogee
Verly isnt going anywhere
Re: TIPS ON MONEY MANAGEMENT (Post em here)
Stick to flat betting a % of your bankroll on each play...2%ish works well. Can't be going for the hr ball all the time...even the best lose 45% of the time. Winning streaks are nice but they don't last forever and without money management you cannot withstand any sort of losing streak. Every loss is just 1 game...they happen. No need to chase losses...always on to tomorrow.
Stick to flat betting a % of your bankroll on each play...2%ish works well. Can't be going for the hr ball all the time...even the best lose 45% of the time. Winning streaks are nice but they don't last forever and without money management you cannot withstand any sort of losing streak. Every loss is just 1 game...they happen. No need to chase losses...always on to tomorrow.
KingRevolver
Born Rambler
Re: TIPS ON MONEY MANAGEMENT (Post em here)
^ This.
Octoman tries to "go for it" all the time, LOL.
^ This.
Octoman tries to "go for it" all the time, LOL.
winkyduck
TYVM Morgan William!!!
Re: TIPS ON MONEY MANAGEMENT (Post em here)
NO CFB TEASERS
FOR THOSE WHO MISSED IT THE FIRST TIME
NO CFB TEASERS
NO CFB TEASERS
NO CFB TEASERS
NO CFB TEASERS
NO CFB TEASERS
NO CFB TEASERS
NO CFB TEASERS
NO CFB TEASERS
NO CFB TEASERS
NO CFB TEASERS
NO CFB TEASERS
NO CFB TEASERS
NO CFB TEASERS
NO CFB TEASERS
NO CFB TEASERS
NO CFB TEASERS
NO CFB TEASERS
NO CFB TEASERS
NO CFB TEASERS
NO CFB TEASERS
NO CFB TEASERS
NO CFB TEASERS
NO CFB TEASERS
NO CFB TEASERS
NO CFB TEASERS
NO CFB TEASERS
NO CFB TEASERS
NO CFB TEASERS
NO CFB TEASERS
NO CFB TEASERS
NO CFB TEASERS
NO CFB TEASERS
NO CFB TEASERS
NO CFB TEASERS
NO CFB TEASERS
NO CFB TEASERS
NO CFB TEASERS
NO CFB TEASERS
NO CFB TEASERS
NO CFB TEASERS
NO CFB TEASERS
NO CFB TEASERS
NO CFB TEASERS
NO CFB TEASERS
NO CFB TEASERS
NO CFB TEASERS
NO CFB TEASERS
NO CFB TEASERS
NO CFB TEASERS
NO CFB TEASERS
NO CFB TEASERS
NO CFB TEASERS
NO CFB TEASERS
NO CFB TEASERS
NO CFB TEASERS
NO CFB TEASERS
NO CFB TEASERS
NO CFB TEASERS
NO CFB TEASERS
NO CFB TEASERS
NO CFB TEASERS
NO CFB TEASERS
NO CFB TEASERS
NO CFB TEASERS
NO CFB TEASERS
NO CFB TEASERS
NO CFB TEASERS
NO CFB TEASERS
NO CFB TEASERS
NO CFB TEASERS
NO CFB TEASERS
NO CFB TEASERS
NO CFB TEASERS
NO CFB TEASERS
NO CFB TEASERS
NO CFB TEASERS
NO CFB TEASERS
NO CFB TEASERS
NO CFB TEASERS
NO CFB TEASERS
NO CFB TEASERS
NO CFB TEASERS
NO CFB TEASERS
NO CFB TEASERS
NO CFB TEASERS
NO CFB TEASERS
NO CFB TEASERS
NO CFB TEASERS
NO CFB TEASERS
NO CFB TEASERS
NO CFB TEASERS
FOR THOSE WHO MISSED IT THE FIRST TIME
NO CFB TEASERS
NO CFB TEASERS
NO CFB TEASERS
NO CFB TEASERS
NO CFB TEASERS
NO CFB TEASERS
NO CFB TEASERS
NO CFB TEASERS
NO CFB TEASERS
NO CFB TEASERS
NO CFB TEASERS
NO CFB TEASERS
NO CFB TEASERS
NO CFB TEASERS
NO CFB TEASERS
NO CFB TEASERS
NO CFB TEASERS
NO CFB TEASERS
NO CFB TEASERS
NO CFB TEASERS
NO CFB TEASERS
NO CFB TEASERS
NO CFB TEASERS
NO CFB TEASERS
NO CFB TEASERS
NO CFB TEASERS
NO CFB TEASERS
NO CFB TEASERS
NO CFB TEASERS
NO CFB TEASERS
NO CFB TEASERS
NO CFB TEASERS
NO CFB TEASERS
NO CFB TEASERS
NO CFB TEASERS
NO CFB TEASERS
NO CFB TEASERS
NO CFB TEASERS
NO CFB TEASERS
NO CFB TEASERS
NO CFB TEASERS
NO CFB TEASERS
NO CFB TEASERS
NO CFB TEASERS
NO CFB TEASERS
NO CFB TEASERS
NO CFB TEASERS
NO CFB TEASERS
NO CFB TEASERS
NO CFB TEASERS
NO CFB TEASERS
NO CFB TEASERS
NO CFB TEASERS
NO CFB TEASERS
NO CFB TEASERS
NO CFB TEASERS
NO CFB TEASERS
NO CFB TEASERS
NO CFB TEASERS
NO CFB TEASERS
NO CFB TEASERS
NO CFB TEASERS
NO CFB TEASERS
NO CFB TEASERS
NO CFB TEASERS
NO CFB TEASERS
NO CFB TEASERS
NO CFB TEASERS
NO CFB TEASERS
NO CFB TEASERS
NO CFB TEASERS
NO CFB TEASERS
NO CFB TEASERS
NO CFB TEASERS
NO CFB TEASERS
NO CFB TEASERS
NO CFB TEASERS
NO CFB TEASERS
NO CFB TEASERS
NO CFB TEASERS
NO CFB TEASERS
NO CFB TEASERS
NO CFB TEASERS
NO CFB TEASERS
NO CFB TEASERS
NO CFB TEASERS
NO CFB TEASERS
NO CFB TEASERS
NO CFB TEASERS
NO CFB TEASERS
FootballWinners
EOG Senior Member
Re: TIPS ON MONEY MANAGEMENT (Post em here)
I posted this in my threads also, but it fits your question. This is has worked REALLY well for me, and if you stick to this method it should work very well for you.
"I have explained what I have done, and how, in PM with a couple members but basically my story is that I once started betting small and in my final year of college began taking this serious. I started with a bankroll of 8,000$ with one unit equaling 1% of my bankroll, so 80$ and 2 units being 2%, so 160$.
I divided the year into four quarters. January-March, April-June, July-September, October-December. My goal was to win 25% of my bankroll each quarter, but was happy with anything above 12.5%. 12.5% of 8,000$ = 1,000$ so my goal was to win 1,000$ minimum with reaching my top goal of 25% by profiting 2,000$.
Divide 25% or 12.5% by three = 8.33% or 4.66%. These were my goals per month with 8.33% of my bankroll being on the high end, and 4.17% being on the low end.
So I would try and win between 250$ and 500$. Divide a month into four weeks, my goal was to profit between 1.04% and 2.08%. Meaning my goal each week was to win between 1 and 2 units, with winning 2 units being a good week.
I was comfortable with my handicapping, shared my selections with nobody so did not feel pressure from others to do well and slowly but surely kept building my bankroll. The first four years I was working still and did as a dream hobby, with the hopes to turn my hobby into a dream career (but didn't expect much). I kept reading and learning about handicapping and sports news even when I felt it was pointless, sort of like in University when you're reading something and asking yourself what the hell is this going to teach me. What it did was make me smarter in my field, being sports betting, and help me to develop methods to look at games without needing to spend hours on every game. I honestly spend more time reading about each sport.
Back to what I was saying. I started with 8,000$ and continue until I profited 8,000$ or 100% of my bankroll. It didn't take too long because I was betting alot of games early and was getting lucky. In fact it took under six months. Once I was up 8,000$, I doubled my unit size. My bankroll became 16,000$ and my unit was now 160$. ALL OF MY SELECTIONS WERE EITHER ONE, OR TWO UNITS. Anyways, I could go on and on about each year, and how It took me 15 months to complete my bankroll the second time around, due to a rough baseball season, but I won't bore you. Send me a PM if you want the full story. Anyways, in six years (end of this December) . I have doubled my bankroll using this method of money management almost four times. I needed to reach 128,000$ and was at 124,000$ going into week one of the NFL season, where I won 1,000$. At that point I decided to do what I am doing now. If I can turn this 25,000$ into 100,000$ then I will have 200,000$ saved up. Enough to move to Las Vegas and begin wagering "professionally". I now treat this like a career. Luckily, I was in an above average situation to begin financially (no not rich). I do not recommend this lifestyle for everyone, as people always criticize and say that what you are doing is not a job, its a hobby. Or they say you're a degenerate, or trash your picks and say you won't win forever. All that nonsense. If you do your homework, which I do 5-10 hours a day now, and take this on with the correct mentality then you are able to accomplish this. I have! I also do not recommend quitting your job. You still have to win, and if you consistantly lose your wagers then you are not looking at the right factors when deciding on your selections and if you are a smart bettor; stick to your job until you are at a comfortable enough situation to quit.
THINK ABOUT IT. YOU NEED TO WIN BETWEEN ONE AND TWO SELECTIONS PER WEEK. WHEN YOU LOOK AT IT THIS WAY, YOU'RE OFF TO A GOOD START. Although you may say to me that my method of betting right now is not smart. I know, this is a chance for me to live my dream and I cannot pass it up. If I lose this 25,000$ I have set aside then I will have 100,000$ remaining and will go back to my plan, where I will only need to double my bankroll once more before I can move to Las Vegas. I don't want to wait another year to year in a half. Once you get this much money you have an added pressure, which makes going to sleep very difficult. Another downside to this lifestyle. Anybody can do it, you just need to have the right mindset.
Another good idea is reading newspapers from outside of your city. Online you can find the sports section from almost any newspaper in America. Read both the home teams, road teams and a neutral area's sports section of the paper and you'll see what I mean. Just by reading and seeing homer views of each game can give you a GREAT read on how each team, and its fans view the game; sometimes even leading to enough information to place a solid wager."
I posted this in my threads also, but it fits your question. This is has worked REALLY well for me, and if you stick to this method it should work very well for you.
"I have explained what I have done, and how, in PM with a couple members but basically my story is that I once started betting small and in my final year of college began taking this serious. I started with a bankroll of 8,000$ with one unit equaling 1% of my bankroll, so 80$ and 2 units being 2%, so 160$.
I divided the year into four quarters. January-March, April-June, July-September, October-December. My goal was to win 25% of my bankroll each quarter, but was happy with anything above 12.5%. 12.5% of 8,000$ = 1,000$ so my goal was to win 1,000$ minimum with reaching my top goal of 25% by profiting 2,000$.
Divide 25% or 12.5% by three = 8.33% or 4.66%. These were my goals per month with 8.33% of my bankroll being on the high end, and 4.17% being on the low end.
So I would try and win between 250$ and 500$. Divide a month into four weeks, my goal was to profit between 1.04% and 2.08%. Meaning my goal each week was to win between 1 and 2 units, with winning 2 units being a good week.
I was comfortable with my handicapping, shared my selections with nobody so did not feel pressure from others to do well and slowly but surely kept building my bankroll. The first four years I was working still and did as a dream hobby, with the hopes to turn my hobby into a dream career (but didn't expect much). I kept reading and learning about handicapping and sports news even when I felt it was pointless, sort of like in University when you're reading something and asking yourself what the hell is this going to teach me. What it did was make me smarter in my field, being sports betting, and help me to develop methods to look at games without needing to spend hours on every game. I honestly spend more time reading about each sport.
Back to what I was saying. I started with 8,000$ and continue until I profited 8,000$ or 100% of my bankroll. It didn't take too long because I was betting alot of games early and was getting lucky. In fact it took under six months. Once I was up 8,000$, I doubled my unit size. My bankroll became 16,000$ and my unit was now 160$. ALL OF MY SELECTIONS WERE EITHER ONE, OR TWO UNITS. Anyways, I could go on and on about each year, and how It took me 15 months to complete my bankroll the second time around, due to a rough baseball season, but I won't bore you. Send me a PM if you want the full story. Anyways, in six years (end of this December) . I have doubled my bankroll using this method of money management almost four times. I needed to reach 128,000$ and was at 124,000$ going into week one of the NFL season, where I won 1,000$. At that point I decided to do what I am doing now. If I can turn this 25,000$ into 100,000$ then I will have 200,000$ saved up. Enough to move to Las Vegas and begin wagering "professionally". I now treat this like a career. Luckily, I was in an above average situation to begin financially (no not rich). I do not recommend this lifestyle for everyone, as people always criticize and say that what you are doing is not a job, its a hobby. Or they say you're a degenerate, or trash your picks and say you won't win forever. All that nonsense. If you do your homework, which I do 5-10 hours a day now, and take this on with the correct mentality then you are able to accomplish this. I have! I also do not recommend quitting your job. You still have to win, and if you consistantly lose your wagers then you are not looking at the right factors when deciding on your selections and if you are a smart bettor; stick to your job until you are at a comfortable enough situation to quit.
THINK ABOUT IT. YOU NEED TO WIN BETWEEN ONE AND TWO SELECTIONS PER WEEK. WHEN YOU LOOK AT IT THIS WAY, YOU'RE OFF TO A GOOD START. Although you may say to me that my method of betting right now is not smart. I know, this is a chance for me to live my dream and I cannot pass it up. If I lose this 25,000$ I have set aside then I will have 100,000$ remaining and will go back to my plan, where I will only need to double my bankroll once more before I can move to Las Vegas. I don't want to wait another year to year in a half. Once you get this much money you have an added pressure, which makes going to sleep very difficult. Another downside to this lifestyle. Anybody can do it, you just need to have the right mindset.
Another good idea is reading newspapers from outside of your city. Online you can find the sports section from almost any newspaper in America. Read both the home teams, road teams and a neutral area's sports section of the paper and you'll see what I mean. Just by reading and seeing homer views of each game can give you a GREAT read on how each team, and its fans view the game; sometimes even leading to enough information to place a solid wager."
Re: TIPS ON MONEY MANAGEMENT (Post em here)
Don't chase losses, everyone has losing streaks.. Don't think because you lost 4 weeks in a row that you are due, you can lose every week..
Don't wager more than 5% of bankroll on any single play (small bank make it 8-10%)
Do not wager on games just because they are on T.V
Try not to have too many plays per week..
I like to start out seasons betting smaller, then periodically increase bet size as the season progresses, by then you have a better idea of the teams.. To each his own.
Patience is golden
If you are an average to below average handicapper I recommend flat betting, if you are an above average handicapper I do NOT recommend flat betting.
NEVER risk too much of bankroll on a high juice ML..
Disable Casino Access to all your offshore accounts..
Try and get re-load or welcome bonuses and/or reduced juice.
Don't chase losses, everyone has losing streaks.. Don't think because you lost 4 weeks in a row that you are due, you can lose every week..
Don't wager more than 5% of bankroll on any single play (small bank make it 8-10%)
Do not wager on games just because they are on T.V
Try not to have too many plays per week..
I like to start out seasons betting smaller, then periodically increase bet size as the season progresses, by then you have a better idea of the teams.. To each his own.
Patience is golden
If you are an average to below average handicapper I recommend flat betting, if you are an above average handicapper I do NOT recommend flat betting.
NEVER risk too much of bankroll on a high juice ML..
Disable Casino Access to all your offshore accounts..
Try and get re-load or welcome bonuses and/or reduced juice.
KingRevolver
Born Rambler
Re: TIPS ON MONEY MANAGEMENT (Post em here)
Some good stuff there, Gyno. :cheers I like that T.V. tip.
Some good stuff there, Gyno. :cheers I like that T.V. tip.
Re: TIPS ON MONEY MANAGEMENT (Post em here)
This is as solid as it gets right here.
This is as solid as it gets right here.
KingRevolver
Born Rambler
Re: TIPS ON MONEY MANAGEMENT (Post em here)
Yes are in Bold. Whew. I'm under seven. :houra:houra
- Did you ever lose time from work or school due to gambling?
- Has gambling ever made your home life unhappy?
- Did gambling affect your reputation?
- Have you ever felt remorse after gambling?
- Did you ever gamble to get money with which to pay debts or otherwise solve financial difficulties?
- Did gambling cause a decrease in your ambition or efficiency?
- After losing did you feel you must return as soon as possible and win back your losses?
- After a win did you have a strong urge to return and win more?
- Did you often gamble until your last dollar was gone?
- Did you ever borrow to finance your gambling?
- Have you ever sold anything to finance gambling?
- Were you reluctant to use "gambling money" for normal expenditures?
- Did gambling make you careless of the welfare of yourself or your family?
- Did you ever gamble longer than you had planned?
- Have you ever gambled to escape worry, trouble, boredom or loneliness?
- Have you ever committed, or considered committing, an illegal act to finance gambling?
- Did gambling cause you to have difficulty in sleeping?
- Do arguments, disappointments or frustrations create within you an urge to gamble?
- Did you ever have an urge to celebrate any good fortune by a few hours of gambling?
- Have you ever considered self destruction or suicide as a result of your gambling?
Yes are in Bold. Whew. I'm under seven. :houra:houra
KingRevolver
Born Rambler
Re: TIPS ON MONEY MANAGEMENT (Post em here)
^ Answer those, Octoman. How many did you say Yes to?
^ Answer those, Octoman. How many did you say Yes to?
Re: TIPS ON MONEY MANAGEMENT (Post em here)
Or follow this guy
http://www.youtube.com/watch?v=v_Q0sOc-Vgs
Or follow this guy
http://www.youtube.com/watch?v=v_Q0sOc-Vgs
