Ways to avoid going broke gambling

[SBR Lou]

How can you improve your money management skills? I would assume that factors in greatly other than things like line shopping and those particulars.

[jjgold]

Simple

1. Only bet a few games per week
2. Bet the same amount on those games
3. No Exotics

[SlickFazzer]

Never want to go bust?



Bet 2% of your bankroll on each game for the rest of your life.


If you only have 500 in your account, your 2 percent would be $10.

Doesn't sound like fun? Save up some money, get yourself $5,000
in your accounts - now your betting a $100 a game.

[Doc JS]

It gets said all the time here, but it's true...

When you get your ass handed to you (as we all do from time to time), take it like a man and move on.

DON'T CHASE!!!!!

Strictly following that simple but sound piece of advice, along with learning from really great guys like LT, BBD, Pags and others, has allowed me to become a winning player.

Doc

[pavyracer]

It gets said all the time here, but it's true...

When you get your ass handed to you (as we all do from time to time), take it like a man and move on.

DON'T CHASE!!!!!

Strictly following that simple but sound piece of advice, along with learning from really great guys like LT, BBD, Pags and others, has allowed me to become a winning player.

Doc

Tell me about chasing. Chasing saved me many money in my gambling career. I only chase betting on the same team I like because I don't believe they will have a series of bad games in a row.

Two examples from this year were chasing the Celtics in NBA playoffs and Spain in Euro 2008.

[SBR Lou]

And avoid betting world #1's when they are on period.

[accuscoresucks]

Never want to go bust?



Bet 2% of your bankroll on each game for the rest of your life.


If you only have 500 in your account, your 2 percent would be $10.

Doesn't sound like fun? Save up some money, get yourself $5,000
in your accounts - now your betting a $100 a game.

i pretty much agree with slicks take but 2% is a highly advanced bettor.
start with 1% after cashing in a few times progress up to 2%
using a 25%[1/4] increase 1.25,1.50,1.75] beetween the 1-2% is were the power lies.

keep it cool at 1% a for a bit then your ready

[HeeeHAWWWW]

1) Always bet low juice events - eg soccer asians rather than 1x2.
2) Have tons of bookies, so you can pick the best odds on any event
3) Never bet more than 2% of your bankroll, and preferably less
4) Never chase (although it's not really an issue with 1% bets)
5) Never bet on a whim - do your research
6) Don't bet on teams you support or against those you dislike, it distorts your objectivity

[InTheHole]

Simple

1. Only bet a few games per week
2. Bet the same amount on those games
3. No Exotics

I am surprised at you JJ! Same amount on all games? You don't think that it would be wise to bet more heavy on a game which you think you have a stronger edge on?

[EaglesPhan36]

Biggest one that I have learned .... when you win ... don't always give some of that money back on the same day. Nothing wrong with winning and being content with one hit or two for the day instead of trying to bank it into something huge.

[InTheHole]

1=1% of my bankroll. I never bet more than 1.5 to 3 units per game daily exzcept on strong leans which I could risk 6-8 units. I never risk more than 25% of my bankroll daily. If I go 0-32 and drop 50 units in four days that should be my cue to find another hobby! I disagree with most of you that you can't bet more than 4-5 games daily and make a profit.

[Marigold HD]

Thanks for all the info guys..........I should be learning from you guys. I used to use bet100% of my bankroll each time....I would deposit $500, and try to double, double, double, double 4 times like an idiot. This dumb greedy strategy rarely worked. I need to follow your guy's views and disiplines more often....
Thanks again.

[rake922]

Don't play at Books that offer the crappiest lines like -115 for side A and -115 for side B

Matchbook is a must

[SlickFazzer]

Thanks for all the info guys..........I should be learning from you guys. I used to use bet100% of my bankroll each time....I would deposit $500, and try to double, double, double, double 4 times like an idiot. This dumb greedy strategy rarely worked. I need to follow your guy's views and disiplines more often....
Thanks again.

Yes, Discipline Mgold. Your 100% system you mention here is bankruptcy waiting to happen.

Lets get em this weekend.