Most important things in sports gambling

[BuddyBear]

There is a lot of theory out there on sports gambling and how to be successful at it...and basically everything I have ever learned the one key condition at being successful begins with Money Management skills. Line Shopping is a close second but if you want to be successful you better avoid things like varying your bet size, chasing, placing future wagers on teams that are 100-1 and things like that.

I could be wrong...but I am just curious as to what everyone else thinks the most important thing in being a sports gambler is. Thanks.

[SBR_John]

Avoid road favorites that are coming off double digit straight up wins.

[jjgold]

1. Of course do not double up
2. Do not bet parlays
3. look for best number
4. Look for lower juice
5. DOnt bet too many awy team favs

[hoppa_long]

Never get over confident after a winning streak.....

[why]

Patience

[SBR_John]

Always check JJ Golds picks

[Senator7]

1. Money Management
2. Money Management
3. Money Management

This can't be stressed enough. If you manage your money improperly, you could go 5-2 one week and still lose money. The guys that do this for a living or the guys in it for the long haul are experts at money management. That's why they can do it for a living and that's why they can stay in it and be successful over the long haul.

Senator 7

[Mudcat]

For me, the secret to gambling is don't gamble.

I'm not saying don't place bets. I mean I only place bets that are proven to be profitable long-term.

No guesses, no hunches, no unproven theories, no impatience, no getting caught up by some posting forum guru or other kind of hype.

I just do what I know makes money. I don't gamble.

[bigboydan]

all you need is good info

[hoppa_long]

Some good advice

1. Know yourself as a handicapper, good and bad. All the planning in the
world can go up in smoke in one flash of desperation. Have well-defined
methods of selecting games and STICK TO THEM, while constantly developing
new methods. Document your records and performance, and then realize that
even the best past angles hold no guarantees for the future.


2. Earn money any way you can at things other than betting. Devote your
free time to betting and don't spend any money on anything else. Your
bankroll (and your time) must be sacred.


3. Do not relinquish other sources of income until you have enough money,
aside from your bankroll, to support yourself for a minimum of six months.


4. Don't be afraid to change plans if things are not going well, but
don't abandon your strategies or increase your wagers because of
short-term performance. Also, remember the Law of Perpetual Opportunity.
You don't have to play any day you don't feel up to it. There will always
be another day, another game.


5. Hang out with other bettors who are successful and attempt to learn
everything you can about their methods. Conversely, don't give your best
angles away even to your best friends. In this business, if you publish,
your angle will perish.


6. Finally, NEVER UNDERESTIMATE THE VALUE OF ONE WINNER!

[jjgold]

track all your bets

good record keeping

never use the due theory like me

[Illusion]

1. Money Management
2. Money Management
3. Money Management

That can't be stressed enough, but sometimes it's easier said than done. If you can avoid chasing than this shouldn't be an issue.

[FantasyBetsZone]

dont bet on parlays!! they eat your $$$$ PERIOD!

[pags11]

great thread here...agree that money management is number one, a lot of other good info. here...

[square]

Real good stuff guy's !

Bottom Line.

[jjgold]

Also back off if you are going bad. We all tend to bet more when we are down and bet less when we are winning.

[why]

Its a grind, when I wrote patience, it is all inclusive(bankroll, picks,games,knowledge)

[jjgold]

Dont get loans to gamble

[pags11]

good points jjgold...taking a break or decreasing your units temporarily is never a bad thing...and scared money definitely never wins...great thread here...

[Andy77]

Good post, actually many good posts in this thread. So I guess, I just want to bump it up
From myself, I think if you just starting out it would be great to bet just on paper without real money involved and see how you did for long period of time.

Some good advice

1. Know yourself as a handicapper, good and bad. All the planning in the
world can go up in smoke in one flash of desperation. Have well-defined
methods of selecting games and STICK TO THEM, while constantly developing
new methods. Document your records and performance, and then realize that
even the best past angles hold no guarantees for the future.


2. Earn money any way you can at things other than betting. Devote your
free time to betting and don't spend any money on anything else. Your
bankroll (and your time) must be sacred.


3. Do not relinquish other sources of income until you have enough money,
aside from your bankroll, to support yourself for a minimum of six months.


4. Don't be afraid to change plans if things are not going well, but
don't abandon your strategies or increase your wagers because of
short-term performance. Also, remember the Law of Perpetual Opportunity.
You don't have to play any day you don't feel up to it. There will always
be another day, another game.


5. Hang out with other bettors who are successful and attempt to learn
everything you can about their methods. Conversely, don't give your best
angles away even to your best friends. In this business, if you publish,
your angle will perish.


6. Finally, NEVER UNDERESTIMATE THE VALUE OF ONE WINNER!

[SBR Lou]

Good post, actually many good posts in this thread. So I guess, I just want to bump it up
From myself, I think if you just starting out it would be great to bet just on paper without real money involved and see how you did for long period of time.

Welcome to SBR Andy...

[Andy77]

Thank you Crazyl ! Nice avatar you have, it is for sure

Welcome to SBR Andy...

[Krtica]

Dont get loans to gamble

yeah... this is a good one...

[Bullajami]

Good post to bump. Timeless wisdom here.

[TheLock]

If it looks like a lock, it isn't.

[MrX]

I think if you just starting out it would be great to bet just on paper without real money involved and see how you did for long period of time.

The amount of time required to get any significance this way is much longer than most people would want to spend betting on paper.

Proper back-testing, though more technically difficult, is a more practical way to go.

[Dazzez]

if you want to be successful you better avoid things like varying your bet size.

I think someone might need to read more about the Kelly Criterion.

[MrX]

I think someone might need to read more about the Kelly Criterion.

Well, that post was made almost three years ago.

I'm sure BB would phrase that point a little more carefully now. Something along the lines of "Don't vary you're bet size to chase losses or because you 'have a feeling'."

[Dazzez]

Well, that post was made almost three years ago.

Yes, you're right, I missed that.

But I think concurrent with extolling the virtues of a post such as this we should also be mindful of and vocal about its flaws.

[Willie Bee]

Can only think that what everyone has said so far is correct, at least they are guidelines/strategies that have worked for them. Maybe we should have a skull session among some small group to come up with SBR's '10 Commandments' -- maybe it ends up being 8 or 12 -- that are unanimous. For instance, JJ says don't play parlays but surely there are some who can make parlay plays without losing their asses. Buddy says to "avoid varying your bet size," something I personally agree with for the most part, yet it's not something that should be a no-no for everyone.

A few items in this thread that seem to be strong candidates for being hard rules for everyone seem to be managing your money/knowing your limit financially, finding the best lines, no chasing and understanding the ups and downs in short hauls.

[pokernut9999]

Agree with a lot of the posts , one thing I read a long time ago was to write down all your bets and keep records. As time goes by look and see patterns in winning bets and then the losing bets. You will be suprised by the trend that develops, everyone's will be different but for me my losses were parlays , teasers and road favorites.

[Andy77]

Totally agree with you. Back-testing great way to go. Some times though, people use discretionary strategies, in those cases paper betting or playing in prediction league can show long term results. But like you said, it takes long time.

The amount of time required to get any significance this way is much longer than most people would want to spend betting on paper.

Proper back-testing, though more technically difficult, is a more practical way to go.

[so-classy#23]

consistent runs of good luck season after season after season..then maybe it becomes recognized as some skill with the luck

[Thremp]

Dont get loans to gamble

Ha. I flaunted this one.

[warriorfan707]

Discipline.

Straight betting.(most of the time)

Knowledge.

Experience.

A bankroll.

Get all these together, and you have a way to make money as long as you live.