Futures are a Money Trap!!!

[JRS21386]

I want to express my opinion real quick on Futures.

Don't buy into the hogwash that you see on futures. I Agree there are a ton of awesome lines out there by first glance... But it's a trap.

Anything could happen between now and the time the season rolls around. For example i saw a fella on here talkin about NBA Futures and how SA is 20-1 to win the championship...

That's cool and all but what happens when Tim Duncan announces his retirement in 3 months... or Even blows out his knee for the entire year in week 1? Your bet is doomed!

It makes no sense to lay money on ANY team this far in advance... Too much can happen.. With that being said.. Anyone who bets on futures is not a very good strategically minded bettor

GL ANYWAY

[j0hnnyv]

you are going to get a lot of people that will disagree with you here. that being said I rarely ever bet futures either. never on a season as long as mlb or nba. a tennis tournament or some good NFL props or win totals...shit like that is OK imo.

[durito]

Futures are easy money, but I don't have a big enough bankroll to where I want to be tying up much of it for the whole season when I can roll it over every week.

[Emmett Brown]

Get the most value for your buck though. Meaning the money laid down you will forget about because the bet takes so long to cash or lose.

[JRS21386]

Get the most value for your buck though. Meaning the money laid down you will forget about because the bet takes so long to cash or lose.

You're right about that... I see good value on Alabama and LSU both being +200 for the SEC WEST...

[Willie Bee]

I disagree. They work for me and I'm happy with the strategy I employ when making them. My suggestion is everyone do what works best for them, instead of thinking there is only one way to wager on anything.

[JRS21386]

I don't see any rich people in here... SO in saying that it would be hard for me to believe anyones strategy "Works"... It fulfills their need at any given point but nobodys strategy works... not even mine

[durito]

http://en.wikipedia.org/wiki/Time_value_of_money

[Willie Bee]

Define 'rich,' please. And how much money do you you see in my accounts?

[JRS21386]

My definition of rich is being able to make enough money off your "System" in which you never have to hold another job... in addition to being able to travel and obtain any luxury that would satisfy you... And if your "System" is so bomb proof you could sell it and make tons of money off of that... That is my definition of being rich...

[durito]

Define system?

[JRS21386]

He said he employs a system that works well for him... In regards to defining what that means... I'm not wasting my time

[durito]

Well, my strategies work just fine.

[JRS21386]

Well im glad they work "fine"... fine isnt great.. and nobody in here can make a fortune off sports.. its just not practical... The sportsbooks didnt come to town for people to take their money

[Willie Bee]

The sportsbooks didnt come to town for people to take their money

What commercial interest does?

[durito]

Well im glad they work "fine"... fine isnt great.. and nobody in here can make a fortune off sports.. its just not practical... The sportsbooks didnt come to town for people to take their money

Define fortune?

6 figures a year ok?

[JRS21386]

Define fortune?

6 figures a year ok?

No I would say 7 Figures...

[durito]

jeez, how much do you make a year

[JRS21386]

What commercial interest does?

None... The Sports Betting Industry rakes in about 10 Billion a year worldwide.. Thats insane... 98% of people lose... and i guess i was lucky enough to run into 2 of the top 2% just in this thread!

[JRS21386]

jeez, how much do you make a year

I dont make 6 or 7 figures... You simply asked me to define "Fortune"... I see a fortune as millions

[durito]

I don't see where Willie Claims to be such.

[JRS21386]

I never said he made a fortune... I brought that about

[Willie Bee]

Let's say there's this guy who loves to play golf. He isn't very good at it, in fact, he's never even broken 80 for a round. Yet every Saturday morning, and one or two afternoons a week when he can get away with it, he drives down to his local muni and tees it up. Pays the $50 green fee, rents a cart, has a $400 Callaway driver in his bag, spends money on all sorts of accessories, even plans to spend thousands someday in the future to fly over to Scotland and play St. Andrews. He's never going to make dollar one playing the game, it's just something he enjoys doing.

Is he wasting his time? Is he a sucker to just be forking over his cash to play the game?

[JRS21386]

Let's say there's this guy who loves to play golf. He isn't very good at it, in fact, he's never even broken 80 for a round. Yet every Saturday morning, and one or two afternoons a week when he can get away with it, he drives down to his local muni and tees it up. Pays the $50 green fee, rents a cart, has a $400 Callaway driver in his bag, spends money on all sorts of accessories, even plans to spend thousands someday in the future to fly over to Scotland and play St. Andrews. He's never going to make dollar one playing the game, it's just something he enjoys doing.

Is he wasting his time? Is he a sucker to just be forking over his cash to play the game?

Absolutely Not... And that was my point all along.. I am not going to sit up here and lie by telling everyone I consistantly make money sports betting.. I am out to do what you all are out to do.. To find the best possible way to guage a matchup so that it can work for me in a positive light... All i was saying is nobody here has made millions betting on games.. On average, people in here have lost.. There is nothing wrong with that.. I am one of those guys... I Just stated an opinion, that i think futures are a trap.. I love criticism... I encourage it. Thats why i posted this thread.. Not trying to pick a fight

[The General]

Money management is everything. A dollar bettor laying a dollar at 20/1 or 100/1 is just another bet. If that dollar is lost on the future, it's no different than losing a dollar on the ponies tomorrow.

Edit. The future is not literally just another bet should it play out well. There will likely be some guaranteed profits down the road if the bettor chooses that route.

[flyingillini]

My definition of rich is being able to make enough money off your "System" in which you never have to hold another job... in addition to being able to travel and obtain any luxury that would satisfy you... And if your "System" is so bomb proof you could sell it and make tons of money off of that... That is my definition of being rich...

Your definition of rich is being able to make enough money off of your "system" in sports betting? I bet on sports for fun and nothing more nothing less. I have no desire whatsoever to even think about doing it for a living. I am sure there are tons of people that bet on sports that don't even have a system that have a lot of money and very well off.

[JRS21386]

Your definition of rich is being able to make enough money off of your "system" in sports betting? I bet on sports for fun and nothing more nothing less. I have no desire whatsoever to even think about doing it for a living. I am sure there are tons of people that bet on sports that don't even have a system that have a lot of money and very well off.

Scroll up a bit and you will see why i said that... it wasnt in reference to me trying to strike it big on any system

[seaborneq]

I am Mr. Spurs 20-1. We all throw away a unit or half unit ALL the time. What difference does it make if it loses tonight or June 2010? If they both win the future pays lotto more than regular wager on Spurs covering against the Clips, or for the sake of this argument, Yanks over Mets tonight. I hear a lot of posters bitching about their money being tied up for days, months, or years. I hope I am not the only one who budgets for futures just as I do for weekends during the football season, or the NBA playoffs, or during the March Madness Tournament. If I am the only one who knows budgeting and money management, then heaven help this board, because we all are in trouble.

[SamsNCharge99]

technically, every bet is a future bet.

Example, you bet Tennis tonight or even at 8:59 AM and match starts at 9AM. It's still a future bet.

So, every bet is a money trap....I still agree w. that statement.

DO WORK

[durito]

technically, every bet is a future bet.

Example, you bet Tennis tonight or even at 8:59 AM and match starts at 9AM. It's still a future bet.

So, every bet is a money trap....I still agree w. that statement.

DO WORK

ah no

[JRS21386]

I see the value in futures... But all i am trying to say is so much can happen to a team before the season even gets here...

[SamsNCharge99]

ah no

I know Durito, just trying to have some fun

[durito]

I see the value in futures... But all i am trying to say is so much can happen to a team before the season even gets here...

This can and will both help and hurt you.

The question is can you identify future bets with positive expected value. Then, is the expected value sufficient to tie up your capital for the entire season.

[JRS21386]

Ill tell you one thing... Alabama and LSU both @ +200 for college football this fall is extremely appealing... You could take on both of those bets and still win if either takes the SEC West... Only kicker is Ole Miss also @ +200

[seaborneq]

Ill tell you one thing... Alabama and LSU both @ +200 for college football this fall is extremely appealing... You could take on both of those bets and still win if either takes the SEC West... Only kicker is Ole Miss also @ +200

Guarantee yourself some money. I am taking Ole Miss currently @+350. LSU and Bama will beat each other up, Ole Miss wins the West easily. Take the team with the returning starting QB instead of the teams that have to break in new ones. You can thank me later.