Don't do the crime if you can't do the time

[Jayvegas420]

Bear, I bet 20%-30%. If I'm down, on a bad streak or chasing, i have been known to bet 50%-75%.
Today I will likely be all in two or three times, if I don't lose the 1st one.

So the answer to your question is 2%.

I don't think anyone who truly relies on gambling for their sole source of income can afford to wager more than 2% of their BR on any single event.

That's right. If I were Cabo, I'd have to have $500,000.00 in order to justify not selling the seat.

And I have to respectfully disagree with Shari.

Some of us are special.

People are telling g me this all the time!

[Big Bear]

I built a bankroll of $1,000 into well over $7,000 by betting $20 a unit between 2012 and late fall. Had wildly successful seasons in MLB and NFL. Always won in the NBA. Even after struggling to stay afloat in college sports every year, I was still sitting in great shape overall.

In mid-November, I got a new job that required more actual work and less "free" time at the desk and away from the computer. Also had a new baby added to our growing family, while losing three older family members in a matter of months.

So at that point, I started getting sloppy with my handicapping. Taking shortcuts. Throwing more live bets and last-minute hail marys into the equation. I had been successful before balancing the "real" world with my gambling, but a lot of external circumstances and pressures took me away from doing the actual research and legwork that helped make me a successful gambler in the first place.

I knew deep down that I couldn't keep burning the candle at both ends, but I tried to anyway once basketball started. I was trying to bet the NFL, bowl season, college basketball and the NBA all at once, while dealing with everything that had changed in my life. I started losing. I started betting bigger and chasing. I lost more.

Today, after six short months that seem like an eternity in retrospect, my aggregate balance in the three active books adds up to $1,241. I was up over 300 units across the board in all sports over a two-plus year period of time. I'm down almost 280 units during this recent stretch.

It's taken a lot of humiliating losses to make me realize that unless I can start to put a lot more time into capping again -- time I really don't have unless I cut sleep out of the equation -- I'm not only spinning my wheels, but I will continue to lose. Period. There is no magic formula, short cut or quick fix. No substitute for research. You can't just wish and hope your way out of a slump, or expect to lay down a bet blind 5 minutes before a game and win.

I didn't make every bet foolishly or recklessly. But a lot of times, I wasn't prepared. And once the losses started to mount, so did the chases. I have lost four straight bets of 20 or more units (for me, over $400 each time) between college and the NBA.

Bottom line (TL; DR): don't gamble if you are just "trying" to win or "expecting" to get lucky. Work hard, find an edge, pound your angles. If you can't put the necessary work into the process, you're just wasting your time.

And your money.

Sometimes hard work is not enough.

Sometimes you need a bit of luck.

You need Jesus on your side.