#1 reason why 90% of sports bettors are not successful

THEY BET TOO MUCH PER GAME !!!!

Not the answer you were looking for?

Well.......it's the number one reason why success eludes 90% of those who venture into sports betting.

I've been meaning to start a thread about money mgt for a few years now and finally decided to get it rolling...........feel free to add your thoughts, comments on this topic as it's THE MOST important aspect of sports betting.

Money mgt .......without it, you will continue to lose and find yourself reloading again and again and again. It's not maybe either but rather a 100% certainty.

Juice is the number one reason but valid point you have

Losing streaks will happen.........winning streaks will happen.

Thing is, if you cannot endure a prolonged losing streak you will go bust and find yourself reloading your account. Trying to win back your loses by betting  larger and larger amounts is a recipe for disaster. If you are living and dying on each play because you can't afford to lose that play or this play,,,,,,,,,,,,,you are simple betting too much per game. I've done it......we've all done it............i'm here to try and spread a little wisdom to those who are willing to learn.

.   We agree to disagree....This is my 26th season and last Sat are bet like a stupid greedy rookie piling up on Auburn.it wasn't bc it's my team I just thought it would cover.Yes, luckily I won my play, but took a bath with 3 diff books on Auburn -20 on in game wagers ...My advice on money mgmt is 1% on about 95% of my plays,2% on about 4% then once in a blue moon I will do a 3 or 4 % wager.Thats what Id like to follow, but it doesn't always work that way.Money management is for sure the most important IMHO.

I think I would agree with you, but also add that most people place way to many wagers which drastically diminishes your odds of coming out on top!!!!!!!! 

If you continue to bet more than 5% of your bankroll regularly.............................you WILL go bust. It's a mathematical certainty. The next question is? Well you may say.......but I have a large bankroll? Doesn't matter if you start with $100.00 or $1000.00 or $10,000.00 or $50,000.00. If you bet more than 5% on a continual basis.............you will fail. Responsible bettors will bet between 1% and 5% of their bankroll on any given play .Never more !! Feeling real good about a play and risking 10% or 20% or even 50% of your roll is simply rolling the dice and eventually will crush you.

I've been reading a lot of threads about guys you are getting killed from their lack of money mgt  and with bowl season just around the corner, I figured it's a good time to spread some knowledge !!

agreed

I have mentioned the word SUCCESS a few times here: Let me make very clear what I am defining as success. If, after 365 days of betting, you have not made a profit? You have failed. It's very simple. I'm not talking about the thrilling aspect of having a chunk of dough on a big game or anything else about the entertainment aspect. I'm strictly talking about profit !!!!

That being said...........breaking even is a huge accomplishment starting out in this crazy biz because it shows:  YOU WERE ABLE TO MANAGE YOUR MONEY over a long period of time. You didn't profit but you didn't lose either. 

Most bettors cannot do this....trust me, I know what I'm talking about !!

90% will have lost and many times... lost a lot !! 

Here's a tidbit..................be weary of the guy(your friend) who only talks about his wins,,,,,,,,,never talks about his bad beats. I'm sure he's down a big chunk. Most bettors are embarrassed and stick their head in the sand when it comes to actually adding up the numbers to see if they are neg or pos on the year's bankroll.

 

Money management is the most important factor.  You just cant chase losses period! People are too also greedy. They just want to win big money with their thousand bucks or even less, but like the stock market, it takes money to make money. They will also bet the next game just because its on and they need to make their money back. Sure there are only two outcomes, win or lose, but why play that game, because you are on tilt or it represents some true value? Then there are the action junkies. How many of you can place your bet and not watch the game, at least not until its over? I guess it all depends if you are really wanting to make money or just being entertained.

There are also plenty of losers on this site who use words as "slam this" or "play of the decade". Really! your going all in on one play every ten years? Do people really believe in all this garbage? There is no such thing as a sure play but 60 out of 100 is killing it. That a D- in school! It just takes time,

In a single day there are hundreds of possible plays, but how do you shuffle through what you want to bet. Most people come on here and pick someone to follow and end up losing that game and start bitching like the girlfriend from hell. Then there are the ones who cry fix! They are the one who need to be fixed.

Although, it may not be such a bad thing there are losers our there, that's how the winners get paid

picking winners is not the problem either, most people will say: well that guy just can't pick winners. Not true...........I know many bettors who are great cappers(win many plays) but they NEVER turn a profit at years end because they could not manage their bankroll !! The scenario usually goes down like this:

They build up a large amount over a short period of time only to give it all back and more(start chasing) by betting too much of their roll on every play !!

This is what happens when you have a winning streak......you become OVER CONFIDENT. And you develop the mentality that it's ok to lose this play or that play because you're playing with house money. I know many of you are nodding your head thinking......yup yup I've done that !!

yup yup I've done that !!  I cant count the number of times in my younger days I turned a few hundred into ten grand in a couple of months only to give it all back in a single day or two.

exactly !!

a play you believe to be a sure thing would warrant your max bet....nothing more. How many of you out there have dropped a huge amount on a fave moneyline (thinking there is no way they could lose?....then the dog wins outright) yeah we've ALL done it. Thing is................some guys will learn from it..................most will not. They  will continue to exercise such stupidity when they are up big time from a winning streak.

expectations have to be lowered. 11 out of 20, 4 out of 7 is the absolute best you can do consistently. you have to accept losses, a never ending amount of them.

In my earlier days I would do that on a regular basis. Turn 500.00 or 1000.00 into 10k then lose it ALL in a week or one bad weekend !!

I once turned 300.00 into  over $18,000.00 in 3 days..........lost it all the following week.

another time I turned 1000.00 into 26,000.00 in ten days. two weeks later....lost it all in one weekend !!

Yup...........I know the feeling. Deep depression & anger sets in and the chasing begins.

Got some good points A-1

That's right.

I haven't even touched on the emotional aspect of losing yet. If you cannot accept losing on a regular basis than get out right now,,,,,,,,,,it will ultimately bring you down. Losing is a certainty.....it's part of the whole process to be successful.

Its all psychological: The wins are nice but the losses fk with us:

I need to win my money back, I need to win my money back, I need to win my money back, I need to win my money back, I need to win my money back

I need to win my money back, I need to win my money back, I need to win my money back, I need to win my money back, I need to win my money bback, I need to win my money back, I need to win my mmoney back,

      I need to win my money back,

        I need to win my money back,

 I need to        win my money back, I need to win my money back, I need to win my money back, I need to win   my money back, I need to win my money back, I need to win my money back, I need to win

 my money

back,

I need to win my money bback, I need to win my money back, I need to win my mmoney!

Here's Johnny!

It's very very difficult to control yourself when you've gone on a tear and are up big.  You begin to think that you are sooooo hot..... you can't be stopped. Trust me....you will be stopped. What I do  after a great streak is  bet much much smaller amounts....satisfies the urge but protects the winnings.

................sounds like you've been there before black ice?

 I certainly have in my earlier years. Would consume me all day every day.

Another VERY VERY important aspect is this: What is your purpose here? Are you betting to have fun? It's just  entertainment for you? OR are you trying to make money?

If you just want to have a little on the game to make it interesting,,,thats great no problem. If your goal is to make money then you must try to remove your emotions from the process. Losing will screw with your mind on a regular basis if you let it, if you cannot get over loses quickly it will affect your decision making on the next play and the next and the next play. You must learn to accept loses and move on,,,,,period.

This brings me to my next point that will tie in with the title of this thread.

WHY ARE YOU GETTING SO UPSET OVER YOUR LOSES?

I'll tell you why...............You are getting upset because you are betting too much per game? You have too much on this play or that play.

If you had a normal size bet ...say 1% or 2% on a game you wouldn't be stressing the F u c k  out over the outcome. There is so much truth to what I just said I cannot overemphasize it. Betting too much on a play and losing, sets in motion a chain of events that will make you chase if you are not disciplined.

this is for the same reason that 90% of people aren't successful in life...most people are morons.  being a moron includes poor money management, betting on games they don't know about, betting on sports they don't know about, etc.  also, you are betting on human performance (let alone people who are most likely younger than you are). parlay this with juice and the odds are really stacked against you.  i don't have stats to back this up but i imagine many people watch espn and listen to sports radio and constantly bet on teams like bama against the spread or kentucky in bball or whichever team is hyped up by the media.

I have been doing this for about 20 years or so...My first year I was a casual gambler and got hooked b/c I must of hit 66% most weeks and won quite a bit....I thought I was brilliant b/c I read the USA today sports page everyday........I probably had about 4 winning seasons in the next 16 years. Looking back money management was the main reason I was not winning.....I almost always going through my bankroll by mid season, then dipping into savings and eventually into the 5% I put away from every paycheck to establish bank rolls.......I FINALLY figured out the last 2 + years. THE MAIN THING IS TO KEEP THE MAIN THING THE MAIN THING which is not the rush of the gamble but to make $$$.......Be patient, consistent and get that GOY or GOW out of your head....In the last 4 years in the NFL 70% of games have been within 7 points at some point in the 4th QTR....The key is to almost always take the home dogs  and usually the road dogs....Also you want to take unders whenever you have a couple sub par QB's playing against each other no matter what....Take unders when you have two teams with good running games who like to run the ball.....When you are taking favorites make sure they are at home and you have the better QB and never give up more than 7....I have been on a 2.5 year run betting consistently taking points and looking for the right unders and certain favorites....You will find yourself betting against the consensus a lot but do not let that bother you and never bet against the public just to bet against the public....Look for the common sense bets and remember their are upsets every week in the NFL and a lot of close games and predictable games that will go under the total.

New nominee for thread of the year

Very true lord nows ive done that nice thread A1