Sports Investing Philosophy 101...

I really appreciate this Smack, only been betting for like 4 months now. Still having lots of ups and downs! Thanks bro!

Well done and a good reminder

great posts. i like how its casually written and catered to a noob's comprehension. tbh it deserves to be on a blog or something. being in a covers thread is little justice.

i look at your writing style and think "yeah this is how you should communicate to newcomers," yet i see some tout services go high-jargon scientific graphs approach and basically try to confuse their audience into giving them money, yet their thinking is that they are educating them in-depth.

if youre a tout service working off the models/systems angle, why would your goal be to educate your customers to the level you are operating at? the whole point of them paying you is because of information asymmetry.

 Great post buddy.

"YOU ARE YOUR WORST ENEMY" I cant stress that enough.

Everyone will win sometime or later, but unless you have the bankroll management, you will burn the winnings and initial investment faster than it took to earn it.

There is a reason books dont process the withdraws immediately after u win. Any book typically takes 48 hours to process the withdrawal requests. That 48 hours is the your worst nightmare in most cases.

Lets say you start with 1k and went all in a on a game u really liked a lot and earned 850. Your bank account is now 1850 and lets say you won another 2 bets and now total balance is 5k.

You might think I won enough and time to cash out. 5kYou put the request to withdraw, but they dont process it immediately and that amount is not locked. Its still available to play.

You will think, what the hell, I will use these 48 hours to earn more like 2-3k and leave that as bank roll while you cash out 5k. This is the start of your destruction. You will lose 1st game and lose 1k and then say what the hell I have make my 5k back and then bet 2k on next game to get back the loss and then some money on top. Before you know it your bankroll melted down from 5k to 2k. Any smart man will stop betting and withdraw the 2k and take 1k profit there. But we are DEGENS. So we will lose the 2k in next hours making some emotional bets in frustration.

This is what books feed on.

Then you will say, what the heck, I will do it again. I made 5k from 1k and I will do it again and will deposit another 1k. Just like hot streaks, there will be cold streaks and u will eventually lose that 1k as well without money management and restraint.

Dont bet what you cannot afford to lose.

Stupendous write-up Smack. 

I've been in this game for 30+ years and its never the same year to year, month to month, week to week, nor day to day...

I consider myself a math wiz; wrote and formulated my own algorithm but at the end of the day, its about money management for me now-a-days.  Yes, i have had my fair share of brutal losses throughout the years, especially my early years, and was hard lesson to swallow.  Now it's about maximizing my units with less plays.