[Thurgood]

Is the practice of sports wagering dying faster than even poker? Obviously the off-shore websites are not 100% secure for US players. Getting the money on and off the sites is becoming increasingly difficult.

The books in Vegas offer horrible player loyalty programs. I mean when the LV Hilton is Sports Gaming central that is not good because the city is breathing new life in places like City Center. Are there any other Sports Gaming headquarters besides Vegas and online in Europe?

Will there be a time in Vegas when finding a book is as hard as finding live keno?

[paco]

Vegas will always be around. Sports wagering will always be around.

[Thurgood]

I guess I am feeling very conflicted about sports wagering at the moment and I have only been on SBR for around 10 days.

A little background on me... I'm a year out of college and have been living at home for the entire time. Exactly this time last year I attempted to play poker professionally for the 3rd time in my life. Things slowly went downhill as I decided to NOT practice BR management and started drinking while playing most of the time. I attended one of the most elite schools in the country and all I had to show for it were about $100k in student loans. I was laid off from one job after college and honestly I feel it was performance related to my drinking.

In November 2010, I hit what I thought was rock bottom and stopped drinking and quit poker. I acquired a business partner and went into business for myself. It felt like three months of being a rockstar because I had the financial backing of my business partner and we were making profit almost right away which is unheard of for most small businesses.

I was probably making $5,000/month after taxes which is the most I ever made from a job and was spending money like crazy on designer suits, dinners, spa's and vacations. Then the unthinkable happened and my business partner and I started fighting A LOT. He felt I was overpaid for the amount of work I did and I caught him cooking the books to pay himself more money. We cut ties in days and the business was left for me to run without his financial backing.

At this point I had little savings and didn't really get to paying anything towards my student loans. I felt the rapid rate our business was growing, I could easily pay my student loans off once my income doubled.

I used what I did have in savings to keep the business floating for around 1 month but it was too much. I was really depressed and started drinking again. I just wanted to escape and one of the ways I would cope was running off to Vegas for a few days, getting drunk and blowing money. I do not recall how most of the money was gambled because I was starting to blackout.

A few times I had to call my parents and ask for just enough money to get to the airport. This was rock bottom 101. If there was any reason to drink, I would drink. I felt like an alcoholic and a loser and started having suicidal thoughts, especially after a night of heavy drinking.

June 13th, 2011 I gave up the booze. I did it on my own realizing I was the only one who could help myself. I remain sober since that day...

[paco]

Thurgood, congrats on the sobriety.

Sorry to hear about the shortcomings.

Keep ur head up and hope all will work out. U seem like a smart person to realize alcohol was the root of ur failure and took the step to eliminate it from ur life. U will be tempted, but stay strong man.

[Thurgood]

Gambling is in my blood. My grandparents took me to Vegas at least once a year when I was a kid and when Vegas was more kid friendly and even today my family plays the lotto and doesn't frown upon people visiting the local casinos.

I'm not sure how many people started taking sports wagering seriously like this but the idea really caught my eye after watching the 60 Minutes segment on Billy Walters. At the time I was looking at going into finance with companies like Edward Jones and Billy's story kind of lit a new fire inside of me.

I've played the stock market and let me tell you it's very tough. The smallest tidbit of information is what designates a good stock and a bad stock. In sports gaming the information is plentiful. Recently I was capping baseball and heck there are times when I had too much information.

I've done relatively well for a noob and more and more started planning on how I could make this a permanent gig. Although I have had some drawbacks...

1. Upsets throw me on tilt like in poker. I can be on fire but the minute I hit an upset, my picks are just really bad.

2. When I am deep into meditation, I try and be as truthful with myself as possible and I feel this could lead into another addiction. I start to feel ashamed of wagering and I don't tell people what I am really doing.

3. I've found I am the most uptight guy when my money is in action. I don't loosen up until I know the results. In a few cases I have lost sleep over an upset or just by trying to do too much research.


So I guess if I were to ever move forward in the sports gaming sector, I'd want to know the industry was not in decline because not only am I putting my finances at risk but I am putting my life at risk with addiction.

And I am so conflicted because you read stories of successful gamblers like Mike Matusow who once were in GA and found success after they hit their rock bottom and if off-shore is on the out and Vegas the obvious 2nd best choice, will I find myself in Vegas again? Even worse will I find myself drinking again?

Any thoughts on this? Anyone in a similar situation or conflict of interest?

[Thurgood]

Thurgood, congrats on the sobriety.

Sorry to hear about the shortcomings.

Keep ur head up and hope all will work out. U seem like a smart person to realize alcohol was the root of ur failure and took the step to eliminate it from ur life. U will be tempted, but stay strong man.

Thanks man! Yeah I mean at the time it was either stop drinking or die. I'm just wondering if gambling was a poison that needed to be eliminated, too. I also wonder whether or not sport wagering is even gambling since there is a difference between picking the outcome of a game based on sound information and having 9 shots of Patron and throwing away black chips in Baccarat.

Another thing that comes up is once you are labeled "addicted" to anything, immediately anything else addictive is frowned upon by friends and family. I have spoken to some of my strongest supporters and all of them are against gambling. So basically if I continue I go it alone or at least until I meet others in the industry.

[SportsMushroom]

how did talking about the popularity of sports gambling lead to a conversation about your degenerate life?

gambling is a bitch, I think most people go on tilt when a bad beat comes around its not just you


what kind of business did you run? doesnt sound as successful as you describe it, if it was successful it would stand on its own two feet and wouldnt need financial support from your friend

and your friend was right, 5000 was a lot to pay yourself, considering the business was not established yet and he was doing all the investing, what was your contribution to the business?


what area were your studies in? cause it doesnt sound like business is your strong suit


anyhow, going in business with a friend/relative is the surest way to ruin the relationship

[jjgold]

Sportsbetting has been around for 100 years and wil be around for another 100

[P.F.Kasooff]

Thurgood, you are an addict! You have a personality/mental flaw. You will float from one addiction to another for the rest of your life. Good luck!

[Mr. Jones]

Sportsbetting has been around for 100 years and wil be around for another 100

Amen Gold !!

[bostonboss]

never fire an investor you bite the hand that feeds.

[MartinBlank]

This is going to end badly.

You don't see that you are ridding yourself of one addiction (booze) and acquiring a new one (gambling)?

We are all foolish in our 20's.....but we also learn lessons from our failures during that time. Maybe a little more reflection will point out to you how foolish this idea of yours is.

For every Billy Walters---there are thousands of degens putting up money they can not afford to lose on a "lock".

And if I were you---I wouldn't look at Matusow as a fukkin role model of any kind either.

[Thurgood]

how did talking about the popularity of sports gambling lead to a conversation about your degenerate life?

gambling is a bitch, I think most people go on tilt when a bad beat comes around its not just you


what kind of business did you run? doesnt sound as successful as you describe it, if it was successful it would stand on its own two feet and wouldnt need financial support from your friend

and your friend was right, 5000 was a lot to pay yourself, considering the business was not established yet and he was doing all the investing, what was your contribution to the business?


what area were your studies in? cause it doesnt sound like business is your strong suit


anyhow, going in business with a friend/relative is the surest way to ruin the relationship

I disagree. $5,000/month was pocket change considering our profits and what my business partner was getting. Btw, he wasn't a friend or relative. I was basically the face of the company. The other guy had a family and kids but I'm the one who kept everything running smoothly. I handled all customer support issues and I am the one who convinced the wholesalers to give us a second chance because my business partner had ruined those relationships on his own years prior. I also played the role of accountant even though we probably should of hired someone to do that for us because my work was always required to be seen by the other guy and then he'd screw the numbers up.

[Thurgood]

Thurgood, you are an addict! You have a personality/mental flaw. You will float from one addiction to another for the rest of your life. Good luck!

Are you the pot calling the kettle black? ALL addicts have a personality/mental flaw? Pretty bold statement bro. Sounds like you do not understand addiction very well and have a lot of stereotypes.

[MartinBlank]

I disagree. $5,000/month was pocket change considering our profits and what my business partner was getting. Btw, he wasn't a friend or relative. I was basically the face of the company. The other guy had a family and kids but I'm the one who kept everything running smoothly. I handled all customer support issues and I am the one who convinced the wholesalers to give us a second chance because my business partner had ruined those relationships on his own years prior. I also played the role of accountant even though we probably should of hired someone to do that for us because my work was always required to be seen by the other guy and then he'd screw the numbers up.

Here's what I don't understand. How is it you that had a successful business model----where both you and your business partner were appearently swimming in cash----and suddenly there is no longer a business?

Why can't you simply run that very same business model on your own?

A blind man can find an investment banker willing to throw cash at a small business that has demonstrated profitability.

What's the catch? Why would you need to turn to making risky sports wagers?

[Jontheman]

The business story just doesn't add up - there's no way you've been honest here, and if you believe the things you've written there's no way you've been honest with yourself.

You have demonstrated an addictive personality.

You have demonstrated an inability to cope with highs and lows - gambling exposes you to these to a far grater degree than a regular job.

Your previous lifestyle and habits were equivalent to mismanaging your bankroll - you have demonstrated poor bankroll management.

You have NOT demonstrated a consistent multi-year ability to turn a profit.

Exactly what bit of your plan strikes you as a good idea? I suspect it is born of an underlying desire to avoid doing some hard work at a regular job that may seem menial compared to your previous business. The only upside is that since you've already lost everything you don't have much to lose when it all goes wrong.

[MartinBlank]

The business story just doesn't add up - there's no way you've been honest here, and if you believe the things you've written there's no way you've been honest with yourself.

You have demonstrated an addictive personality.

You have demonstrated an inability to cope with highs and lows - gambling exposes you to these to a far grater degree than a regular job.

Your previous lifestyle and habits were equivalent to mismanaging your bankroll - you have demonstrated poor bankroll management.

You have NOT demonstrated a consistent multi-year ability to turn a profit.

Exactly what bit of your plan strikes you as a good idea? I suspect it is born of an underlying desire to avoid doing some hard work at a regular job that may seem menial compared to your previous business. The only upside is that since you've already lost everything you don't have much to lose when it all goes wrong.

Exactly.

His story reeks of "I need to hit it rich quick"------

There isn't a logical explanation that he can provide that would explain why he would have turned to sports betting instead of busting his ass to secure a financial backbone to a business that he tells us was highly profitable.

[MartinBlank]

A footnote.

Reading the guy's posting history tells an interesting story. First---he is losing his ass off with his picks. Second, it appears as though he is trying/exploring the idea of being a tout.

'Nuff said.

[I/O]

All the fantasy leagues are really filling in a lot of the void that was sports betting. I can't believe how much it's grown and how much the media outlets are catering directly to it.

[Thurgood]

Well my business partner fronted the money to buy large quantities wholesale. We never dealt with a bank loan. The current status of our economy you can see getting any kind of business loan is very difficult.

[SportsMushroom]

I disagree. $5,000/month was pocket change considering our profits and what my business partner was getting. Btw, he wasn't a friend or relative. I was basically the face of the company. The other guy had a family and kids but I'm the one who kept everything running smoothly. I handled all customer support issues and I am the one who convinced the wholesalers to give us a second chance because my business partner had ruined those relationships on his own years prior. I also played the role of accountant even though we probably should of hired someone to do that for us because my work was always required to be seen by the other guy and then he'd screw the numbers up.

if 5000 was pocket change compared to the profits you were making then how did the business last only one month without your partners financial assistance?

[MartinBlank]

Well my business partner fronted the money to buy large quantities wholesale. We never dealt with a bank loan. The current status of our economy you can see getting any kind of business loan is very difficult.

Again, that dog doesn't hunt. Do you have a demonstrated record of profitability? Do you have returns that show your business as being profitable?

While credit markets are obviously tighter than they were in 2008-through the first quarter of 2010------they are open again. And as I said earlier------if you really do have a successful business model---finding a way to finance it is easier than you are suggesting.

[MartinBlank]

if 5000 was pocket change compared to the profits you were making then how did the business last only one month without your partners financial assistance?

[SportsMushroom]

yeap I think that the OP may be delusional about actually running a successful business

[neverstoppers23]

You are not 100 percent secure whereever you bet, but i sure trust sports books like bodog, 5 dimes, and Intertops as much as i would trust any sports book in vegas.

[P.F.Kasooff]

ALL addicts have a personality/mental flaw?

Yep! You are a poster child for this aberration. Check back with us in 5 years.

[tommygun]

what exactly did your business do, give us some back ground, I mean it's no longer running so spill the beans cumacho

[tommygun]

ps. you suck at poker, business, your future in sports betting may be bleak.

[dice]

...

[Thurgood]

Damn you guys are pretty ruthless. Some random person on the Internet gives you a little information and you pick that person's entire life apart to make yourself feel better. I'm done with this thread.

[SportsMushroom]

Damn you guys are pretty ruthless. Some random person on the Internet gives you a little information and you pick that person's entire life apart to make yourself feel better. I'm done with this thread.

well you start a gambling thread which after 1 reply you turn to the soap opera that is your life, maybe you should have opened a thread that was clearly for venting instead of pretending you want to talk about gambling. Or better yet, maybe you should get some real friends so you dont have to stoup to the level of talking to handles on gambling forums. Also a shrink would be a good idea, you sound like you've got issues (we all do).

[Thurgood]

well you start a gambling thread which after 1 reply you turn to the soap opera that is your life, maybe you should have opened a thread that was clearly for venting instead of pretending you want to talk about gambling. Or better yet, maybe you should get some real friends so you dont have to stoup to the level of talking to handles on gambling forums. Also a shrink would be a good idea, you sound like you've got issues (we all do).

Okay dude. Am I the first person to ever vent in a gambling thread? And I have plenty of friends and family. Maybe if you stopped making so many assumptions you'd actually win a game.

[SportsMushroom]

Okay dude. Am I the first person to ever vent in a gambling thread? And I have plenty of friends and family. Maybe if you stopped making so many assumptions you'd actually win a game.

I do just fine thank you. Ironic though that such a comment is coming from someone who obviously has gambling issues.

No you are not the first person to vent in a thread, and although people are hard on you, you fail to see that they are trying to help you, me included. You dont need people to cuddle you, you need people to slap you on the face and tell you the truth, yes you have a gambling addiction, yes you have an alcohol addiction, they are ruining your life, what are you going to do about it?

also you need to come to terms with the fact that your business venture was a failure, because if you keep on thinking it was a success, then in your next business venture you will commit the same mistakes and your business will fail again, and you will blame it all on your partner for one more time

[face]

just quit the sadass shit and bet the marlins tomorrow

[tommygun]

if you came to the SBR forum looking for sympathy I think you've come to the wrong place mate. What was your business you still havent answered???