Please everyone, utilize money management...

[diogee]

I sure wish I would of listened to those who tried to instill MM into me. I'd be a lot better off now.

Tell me about it...I had 0 MM wagering on credit and on top of that I did not have a phucking clue what I was doing....I would just randomly pick games.

[HAPPY BOY]

Hey man live and learn. If we all took and listened to good advice when given we'd avoid a lot of lifes pot holes.

[diogee]

True that Happy Boy...we just keep moving forward and do our best to punish the book. Pot holes make life interesting anyways

[WestsidePete]

I remember one prop bet was the over/under on how many times samuel l jackson said "motherf*cking snakes on a plane" it was like 14...I saw this and called people in the business I knew if anyone had an advanced copy...the bet paid -110 up to $500...no one I knew had one...

[buztah]

Se Hyuk Joo is offering some serious value in the Kuwait Open today. Lin Ma is overvalued. WSP, you on this?

Petey, you pull the trigger on this or not? I'm thinking of adding Joo to my big balls parlay. At +900 it would substantially increase the payout.

[imgv94]

Tell me about it...I had 0 MM wagering on credit and on top of that I did not have a phucking clue what I was doing....I would just randomly pick games.

Tell me about it.. I had a fukkin sickness to where I wanted to make back the money I lost right away. Was betting good money on bullShit, like Hockey or a game I didnt know much about.. Chasing like a muddaphucker

When you have that sickness it gets to the point to where you "WANT TO LOSE"..

[HAPPY BOY]

I remember one prop bet was the over/under on how many times samuel l jackson said "motherf*cking snakes on a plane" it was like 14...I saw this and called people in the business I knew if anyone had an advanced copy...the bet paid -110 up to $500...no one I knew had one...

Hell SBr can have a prop bet also . How many times will JJ say Fvck, cocksucker or Pal in a video. O/U 145 -110

[diogee]

I remember one prop bet was the over/under on how many times samuel l jackson said "motherf*cking snakes on a plane" it was like 14...I saw this and called people in the business I knew if anyone had an advanced copy...the bet paid -110 up to $500...no one I knew had one...

That could have been some easy cash.

[buztah]

Porvoon Tarmo -5 1/2 is a cannot lose lock! get on this boyz before the steam pushes it to -6.

[BigOrangeTitans]

Your an idiot Buzzy.

[buztah]

BOT, don't tell me you took the sucker bet of Joensunn Kataja +5 1/2, pal. I know you didn't fall for that trap! Come on!

[diogee]

Tell me about it.. I had a fukkin sickness to where I wanted to make back the money I lost right away. Was betting good money on bullShit, like Hockey or a game I didnt know much about.. Chasing like a muddaphucker

When you have that sickness it gets to the point to where you "WANT TO LOSE"..

Exactly how it went...then I got a clue on what the **** I was doing and started clobbering my bookie on football and a little bit of basketball before he told me to f*ck off in January

[diogee]

Buzzy I don't know who either of those phucks are but I'll take the points

[buztah]

Diogee, phuck that! Kataja will NOT out rebound Tarmo!

[diogee]

Not so sure on that one Buzzy...very close. Kataja is the Shiznit?

[BigOrangeTitans]

Joensunn Kataja +5 1/2 is a sharp fukkin play, the fix is in bud.

[buztah]

PHUCK Kataja! If you gave them Onwondo Paneli they'd still phucken lose! The club is jinxed, pal!

[BigOrangeTitans]

If you give me Paneli, I'd give ya my 5.5 back, who needs it with phucken Paneli? lock of the phucken year

[buztah]

If you give me Paneli, I'd give ya my 5.5 back, who needs it with phucken Paneli? lock of the phucken year

Your phucken money, pal!

[BigOrangeTitans]

This ones in the bag, im goin to fukk paneli's broad now. Have fun with a losin fukkin ticket pal, I'll take a picture for ya at the window.

[WestsidePete]

...movie premiers...any of you bet the gross of a movie opening weekend??

[Doc JS]

I sure wish I would of listened to those who tried to instill MM into me. I'd be a lot better off now.

Gabe,

Don't be too hard on yourself, my friend.

It has been my experience that it is the rare individual who has the ability to learn from other peoples mistakes. Most of us, through trial and error, eventually learn from our own mistakes. Sadly, some people never learn.

Doc

[jjgold]

From what I have been reading here this winter many guys are taking shots and trying to get out therefore having bad money management skills.

[imgv94]

Gabe,

Don't be too hard on yourself, my friend.

It has been my experience that it is the rare individual who has the ability to learn from other peoples mistakes. Most of us, through trial and error, eventually learn from our own mistakes. Sadly, some people never learn.

Doc

Thanks for your wisdom Doc.. Where have you been buddy? This forum needs u

[suzysuzy]

Tell me about it.. I had a fukkin sickness to where I wanted to make back the money I lost right away. Was betting good money on bullShit, like Hockey or a game I didnt know much about.. Chasing like a muddaphucker

When you have that sickness it gets to the point to where you "WANT TO LOSE"..

maybe im not as sick of a sports bettor as i thought, cuz ive never WANTED TO LOSE.

[imgv94]

maybe im not as sick of a sports bettor as i thought, cuz ive never WANTED TO LOSE.

Good for you.. Good luck with your panhandling

[Ganchrow]

Relating to general money management, I had posted the following in the Think Tank:

Ganch should I just bet the same amount on every play?

2.5% of my bankroll ?

That's going to heavily depend on the type of bettor you are.

For a professional (or serious hobbyist) advantage player who can succesfully locate, identify, verify, and exploit various edges I'd certainly recommend a strategy that optimizes an acceptable trade off between functional risk and return (à la Kelly).

For an advantage bettor unwilling (or unable) to quantify his or her edge I might recommend a simplified version of Kelly such that a player risks to uniformly win an equal percentage of bankroll on every wager (and so it follows that he would be risking more on favorites than on underdogs). The exact percentage would obviously to depend upon his tolerance for risk and his average expectation going forward.

For a recreational bettor, however, an "ideal" staking strategy is largely going to be a function of what that bettor enjoys the most. For example, if he's just looking to place the occasional wager to make a particular game more "interesting" then he can afford to risk more per bet than if he's going to be regularly betting 5 games a night.

An "action" bettor making many frequent bets is probably best served by avoiding money line favorites (the lower variance of which will make winning over a stretch of bets unlikely) and focusing on money line underdogs. Parlays/round-robins are another option for the "action" bettor but can be quite expensive in terms of vig. A rec bettor placing 5 $100 3-team parlays a week, for example can expect to lose his money a lot more quickly than a similar bettor placing 5 $100 straight bets a week.

In the end, however, probably the single more important concept for a recreational gambler to accept is that ultimately he's betting for fun and not for profit. Once he recognizes this fact, once he recognizes that (even though there will certainly be ups and downs) with each dollar he bets he expects on average to lose a few cents, and once he recognizes that in the long run sports betting is likely no more a source of profit than seeing a movie or going shopping or getting a massage or paying for anything else he enjoys ... well then the bet sizes will tend to set themselves.

How much should a recreational bettor risk per bet? I don't know ... how much should he pay for a new suit? How much should he pay for a steak? How much should he pay for his next vacation? It all depends on how much enjoyment he gets from each.

Don't bet more than you can afford to lose, and if it ever ceases to be enjoyable, just stop betting immediately. Don't bet to make money ... bet to have fun.

[suzysuzy]

Good for you.. Good luck with your panhandling

dont need or want it anymore, thanks though.

[imgv94]

sorry for bumping. but need to remind myself of this, very tempted to chase today.

[austintx05]

don't be sorry, lot of wisdom in here.

While many people pride themselves in the amount of sports knowledge and how they know what will happen...the truth is you beat the line long term through money management and reduced juice.

as we enter baseball, the biggest grind of them all, MM/patience needs to be reiterated.

[bettilimbroke999]

I know it was bad MM but I put all 6k on the Grizzlies ML vs. the Lakers. I thought it was a lock and I was getting 12-1 so anyway, I won't do it again but what a high.

[diogee]

I am calling BullShit on that one Bettil Hope you came out ahead today.

[RescueMe]

Discipline is probably most important part for me, learn the hard way as all of us! I'm not a big believer in any betting system (specially progressive) that brings you profit but what I like about that it keeps you on track even losing one.

[bettilimbroke999]

I am calling BullShit on that one Bettil Hope you came out ahead today.

What can I say every once in a while ya get that feelin and need to throw MM out the window

[stump]

good reminder