Sports Betting: Business or Fun? Up or Down?

[ritehook]

Is it your entertainment, solely? You know you will lose long run, but others spend their money on travel, fine dining, Broadway shows, collecting antiques -- you name it.

Your particular "poison" is sports betting. You love to win, but mostly you like playing. The cameraderie in a Vegas or Mexican book,or on this board, is just an added bonus.

Or, you play ONLY TO WIN. If you were convinced that, long term, you could not win, you'd dump it tomorrow. You view it as a kind of radical investment, better than penny stocks, and, with a bit of work, more predictable.

If the latter, are you UP or DOWN, lifetime?

[jjgold]

Down big but I do play to win. It is a hard game to beat but we are still trying.

[thegreatdiatchi]

It's fun to me but I can't stand losing money when I do it - therefore, I limit it to only what i'm willing to lose.

[Arnold]

I'm playing to win and I believe I can do it long-term. If not, then I will stop today.

[ritehook]

I would't play if I didn't think I could win. By "win" I mean coming out with more of the bookie's money than he has of mine. At the end of each season, be it hoops or foots.

I want to be part of that reputed 2% that usually win on sports betting. Altho I am a relatively small better, to stay in my comfort zone. I've never bet more than a nickel on any one play, and that much only if I have a - uh - lock. Umm, change that of Virtual Lock, LOL.

Yes, sometimes I win only a few hundred for the season. I could make a lot more if I used the time for more remunerative ventures. Tho I had football season with mid four figures profit.

But, I like the challenge. So, it's part "business" and part "entertainment."

[ritehook]

Down big but I do play to win. It is a hard game to beat but we are still trying.

Kind of surprising to me that you're down big, JJ.

It is a helluva hard game. You did once on this board give out the best one-line advice I've ever seen, to new or inexperienced players (who tend to overbet favorites.)

You told 'em to stick to betting underdogs. That alone should cut a lot of losses.

[ritehook]

Several things, I think, separate the serious player from the hobbyist in sports betting.

(Which does not mean the serious player [sp, i'll call him] is a winner. Jus that he's serious about winning and willing to make the sacrifice.)

The sp, above all, keeps notes of all his plays, for constant review. (The hobbyist would consider that an absurd burden)

In short, the sp keeps detailed records of his plays and bets.

The sp has a separate bankroll for his sports "investments." He would no sooner bet out of his weekly paycheck than he would try to open a business with that paycheck.

The sp also bets a percentage of bankroll, what is comfortable for him based on past experience. Be it 2% or 7%. The latter is a high figure, but I won't argue with those who use it.

The hobbyist has no separate bankroll. He bets with the money available. Or with a local, on credit. If he has a gambling problem betting on credit will get him into trouble.

The sp never presses after a string of losses. He has control. He knows if his approach is sound he will soon be back in thw win column (Tho he may press a little during a win streak, if only by the natural increase of his bankroll percent, compounded week to week.)

The hobbyist often tries to "get it back" in one fell swoop. And usually falls in deeper.

[ritehook]

Some years ago an American-educated manager of a Tijuana sports book gave me his view of the gringo football bettors who visited his place.

He called them "scratch players."

"First, they come in and grab a scratch sheet. [He meant an odds sheet, they call the same thing "scratch sheets" for horses]

"Then, they sit down at a table and look at the scratch sheet, and scratch their head.

"Then they scratch their balls.

"Then they pick up a pencil and make scratch marks on the sheet.

"Then they go up to the window and bet their scratch.

"All that took about five minutes.

"After the game they go home, scratching their heads as to why they lost again"

Scratch players.

Are you one?

[pimike]

That was good! not to mention so true. I have played in TJ manny times walking out of there thinkiing why did I come down here?

[ritehook]

That was good! not to mention so true. I have played in TJ manny times walking out of there thinkiing why did I come down here?

To have fun?

If you did, wasn't the money lost well-spent?

I'll never knock the recreational bettor. Everyone spends thieir disposable income on different things.

It's just a matter of degree. I know a recreational bettor (tho I wouldn't dare call him that to his face) who is a handyman (cash biz) whom I suspect loses ten figures every year to the Caliente operation in Baja.

He should join Gamblers Anonymous. But then again, hey, it's his money . . .

[20Four7]

I treat it as a business. I have a spreadsheet where everything from the day before goes. I know how much I got in every book, and how much I won/lost from the day previous and how much I"m up/down on the year. Everything is there.

That being said it isn't my business but if you don't treat it as such you will lose. I don't know if I"m up or down from gambling lifetime because I had a few years of jetting to AC that I think I'm down about 20K or so from. Prior to getting a real job I handicapped the horses and was doing ok, but it was easy to do ok when your 18 and 19. When your pushing 50 and got obligations you have to do better than ok.

[Quebb Diesel]

i play for fun...im just a rook

[DukeJohn]

I only view it one way and that is a business. Like 20Four7, I have several spreadsheets that track the flow of my accounts. I must say I lost a lot of money in the beginning and then again earlier this year following a tout service. Of course, that is the cost of the hands on education I received. That last course with the tout cost me about $8k, but was well worth it.

I have another online business that pays the bills, but currently I make enough through sports betting to pay half my bills if I wanted to. So, I view myself as a semi-professional sports bettor and I plan to turn pro within the year. In my eyes, a professional sports bettor is able to pay his bill and live comfortably with only the income from sports betting.

Good Luck to all.