All Forums | General Discussion

6 months of gambling, my life savings is gone

...
Participants:
Search
Views: 8080
Posts: 67
 
Banned
Participation Meter
Joined: Jul, 2015
Posts: 236
Posted: #26
Everyone, Take this as a lesson. Money management was very poor with him. You should never take bets like that. Always build your income with betting first and play with house money. I start my bets off at 100$ per game. Then when im up about 600 on the week, I start hitting each game for $200 (This is already house money im playing with)... As I go up, I bet higher amounts from my winnings... If  you money manage you will always be in profit.
 
Prospect
Participation Meter
Joined: Oct, 2015
Posts: 325
Posted: #27
Thanks for sharing. Its never bad to get reminded. I'm on a giant cold streak myself, I lost 7/8 NFL bets today, and its depressing as hell. One of those I went big to make up a chunk on Arizona -4. I toiled away as to if I should do AZ -4 or AZ -2.5 and NE ML Parlay. I ended up -4 and the final was -3. Its sickening. Im not spending my life savings or anything, but I am spending entertainment money, and after days like today your gut just says "Put in the amount you lost and bet it all on a game tomorrow". But then THAT loses. Gotta just wake up sometimes, realize its ok to lose some if you get in this game, and then continue on for fun, if you are still capable. 
 
Banned
Participation Meter
Joined: Sep, 2012
Posts: 6659
Posted: #28
Quote Originally Posted by nba88:

I'll have to put the past behind me and not think of what I lost, just only look forward to the future now.  

Look on the bright side- At least you had a savings to blow. Most people don't. Lots are in debt.

I also took forever to learn MM. It's not easy. But don't give up, if you're good at sports betting, and you hit over 60% keep it up until you learn. Just don't make it your life, or else that's when it gets you into trouble.
 
Veteran
Participation Meter
Joined: Oct, 2014
Posts: 1191
Posted: #29
Quote Originally Posted by mgmprofits:


Look on the bright side- At least you had a savings to blow. Most people don't. Lots are in debt.

I also took forever to learn MM. It's not easy. But don't give up, if you're good at sports betting, and you hit over 60% keep it up until you learn. Just don't make it your life, or else that's when it gets you into trouble.


I think for some people money management is a concept that cannot be practiced because they are addicts of the thrill. The thrill of hitting big and hitting it fast makes people chase all too often and ignore the proper money management until they lose it all. It's a rough. Of course when you're in Vegas and betting 100's or 1000's compared to what you normally would gamble the thrill is a lot higher. To try and duplicate that vacation gambling on a daily basis becomes infinitely more dangerous to your bank roll. I've learned all this the hard way too and have deposited several times in my gambling career trying to chase back winnings to reproduce that thrill.
 
Veteran
Participation Meter
Joined: Nov, 2013
Posts: 1563
Posted: #30
hey man i made a similar post about 2 years ago and here i am still betting today lol. honestly, it obviously sucks that you lose but just have some management next time and never bet so large especially on two inconsistent teams. I remember I lost like 700 bucks from a $200 ML on the rockets vs the jazz years ago and it still stings today that i did that lol.

point is just manage your money and like Mikey15753 said, try and build and then play off of that. I can tell you 90% of the time that when I have a good start in the week, Ill almost always profit from that week. Two years ago, I would have terrible starts in the week and I would end up chasing and playing almost 75% of all NBA games. Choose wisely and build your stack up! Keep your head up bro
 
Banned
Participation Meter
Joined: Sep, 2012
Posts: 6659
Posted: #31
Quote Originally Posted by mikebreezyy:

hey man i made a similar post about 2 years ago and here i am still betting today lol. honestly, it obviously sucks that you lose but just have some management next time and never bet so large especially on two inconsistent teams. I remember I lost like 700 bucks from a $200 ML on the rockets vs the jazz years ago and it still stings today that i did that lol.

point is just manage your money and like Mikey15753 said, try and build and then play off of that. I can tell you 90% of the time that when I have a good start in the week, Ill almost always profit from that week. Two years ago, I would have terrible starts in the week and I would end up chasing and playing almost 75% of all NBA games. Choose wisely and build your stack up! Keep your head up bro

Wow, only a $700 loss and years later you still feel that? And I thought I was bad being bummed out the next day. lol I get over the losses usually within 24 hours

I had one loss for $4500 which was by one game by half point, at last second, on a fluke touchdown. That one hurt for a while. I bet $300 on a teaser and the last game was Detroit +3.5 on the teaser, they were in green Bay and Rodgers wasnt playing. But the backup QB threw for like 550 yeards. Detroit was up and winning with hardly anytime left but then that insane QB (Dont even remember his name) threw for another TD at the last second, and destroyed my ticket. I thought I was cashing that bad boy. Crazy thing is, had I bet at william hill I'd of won because they give you slightly better spreads. It was late, new years eve, so I bet at the strip at southpoint.

And the crazy thing is, that wasn't even my worst loss ever. Just one that hurt for a while. I saved that ticket for years...lol finally threw it away.

SCC- I know what you're talking about. But over time people get sick of losing like that and after so many years of it, you finally learn the MM. They say it takes 6 years to learn on average. I'd say that is about right based on my experience. I've finally learned it, but just waiting to get my bankroll up again. The main thing is, stay away from those slots if you're in vegas!!
 
Banned
Participation Meter
Joined: Sep, 2012
Posts: 6659
Posted: #32
I forgot to mention that Detroit eneded up being 7 pt favorites in green bay for that game. And for them to lose by 4 was insane because most of the public was still backing Green Bay. It was simply a fluke, Detorit was supposed to win that game and should have. But that damn backup QB threw for more yards than Rodgers would have.

Anybody else remember that game? It was January 1st 2012...I'll never forget it obviously. I believe it was an 8 game regular teaser...$300 paid $4500 and I came up with the plays on the top of my head, didn't cap or anything. And almost hit it.

But on the flip side, I won $4500 one night, on a $300 4 team regular NBA parlay(2 dogs ml and 2 favs ml), and that one was a miracle..because one game was losing by 19 pts at the half and It came back and won by 8. And another game was down with less than 1 minute left and that oen came back too, so was kind in shock that night when I hit. I pretty much wrote that ticket off by half time.

So you'll get some crazy wins...and some insane losses. It's part of the business. That's the way it's set up to keep you coming back for more. It's very addictive for some people.

 
Veteran
Participation Meter
Joined: Mar, 2014
Posts: 2565
Posted: #33
Man you folks are so selfish trying to point fingers when he obviously knew what happened better than you did followed by taunting this man with stories from your bad beat scars. 

That's the thing about gambling it's always about you. Tunnel vision. 

Don't rush to blow that 200. At least you still have a job I'm assuming.
 
Hall of Fame
Participation Meter
Joined: Feb, 2009
Posts: 27785
Posted: #34
What is sad is some of the laughter from the posters at him..

I am sure these people are in as much trouble if not more than him...but laugh at him to make themselves feel better.
 
Rookie
Participation Meter
Joined: Jun, 2014
Posts: 752
Posted: #35
You can't go all out on one play 50k on one game that's retarded this ain't a get rich quick scheme its slow and steady this ain't a marathon
 
Veteran
Participation Meter
Joined: Nov, 2013
Posts: 1563
Posted: #36
Quote Originally Posted by mgmprofits:


Wow, only a $700 loss and years later you still feel that? And I thought I was bad being bummed out the next day. lol I get over the losses usually within 24 hours

I had one loss for $4500 which was by one game by half point, at last second, on a fluke touchdown. That one hurt for a while. I bet $300 on a teaser and the last game was Detroit +3.5 on the teaser, they were in green Bay and Rodgers wasnt playing. But the backup QB threw for like 550 yeards. Detroit was up and winning with hardly anytime left but then that insane QB (Dont even remember his name) threw for another TD at the last second, and destroyed my ticket. I thought I was cashing that bad boy. Crazy thing is, had I bet at william hill I'd of won because they give you slightly better spreads. It was late, new years eve, so I bet at the strip at southpoint.

And the crazy thing is, that wasn't even my worst loss ever. Just one that hurt for a while. I saved that ticket for years...lol finally threw it away.

SCC- I know what you're talking about. But over time people get sick of losing like that and after so many years of it, you finally learn the MM. They say it takes 6 years to learn on average. I'd say that is about right based on my experience. I've finally learned it, but just waiting to get my bankroll up again. The main thing is, stay away from those slots if you're in vegas!!



lol dont misinterpret! I didn't quit because of this specific game (rockets ML) but I remember that one most because I didn't have to be greedy and choose it that day. It was an impulse square pick without any thought so that's why it sucked.


and @IfYaSmellLALALA, no ones trying to taunt him by telling him about our losses which is smaller compared to his... just wanted to point out that it's not the end of the world lol
 
Rookie
Participation Meter
Joined: Mar, 2014
Posts: 726
Posted: #37
You bet on Denver vs Warriors and the shitty Lakers....why do people like suffering
 
All-Star
Participation Meter
Joined: Feb, 2006
Posts: 10597
Posted: #38
Everyone should read Canadian truths profile page. He breaks it down the best and is very wise when it comes to money management. I started the nba season down 15 units and finally got back on track. Of course I just lost more than half of it betting on denver but hey garbage happens.... I still think it was the right play. Need less to say, money management is the most important factor in sports investing. I like to use that term instead of gambling. ...... gamblers have no self control and play for thrill and action on games they have no business betting on. I also cannot stress enough that every game you bet should be the same unit amount regardless of what you know or feel. This will make you money at the end on the season. 

Anyways, go get some pusay and beat that ish  up. That alaays makes me feel better after a bad loss.... my wife is walking funny this morning after my denver loss.

Good luck and keep your head up
 
Rookie
Participation Meter
Joined: Mar, 2014
Posts: 726
Posted: #39
lmao about your wife gj man 
 
Banned
Participation Meter
Joined: May, 2010
Posts: 13070
Posted: #40
Quote Originally Posted by nba88:


I initially won around $10000 in bets and saw my savings hit the triple figures. I was betting everyday, winning some and losing some, till recently I placed a $50,000 bet.

I lost that bet and wanted to "win" it back, unfortunately with that mentality, my life savings was depleted. QUIT WHILE YOU CAN . I am done

Wow - with this money if you keep in touch with me -i'm sure you did not lose   i know guys will laugh at when i say this - but i know how my game going on 
 
Prospect
Participation Meter
Joined: Aug, 2012
Posts: 376
Posted: #41
You know what NBA stands for right.


No
Bank
Account....   It's a long season and it built to drain you and your bank account down the ??????
 
Prospect
Participation Meter
Joined: Dec, 2013
Posts: 176
Posted: #42
You're more honest than a lot of people here I'm sure, whether that be many of whom can't produce one bet slip of the amount they claim to stake on here, or the fake good guy persona they put on here and are absolute clowns on Twitter and the like.

BOL in the future though.

 
Veteran
Participation Meter
Joined: Sep, 2007
Posts: 3732
Posted: #43
A. Learn your lesson and never ever ever repeat those that actions
B. Regardless of amount, you still have your health, and you will make it back, so do not live in regret, it stings, but let it go.
C. If you had an ailment that was incurable, would you not spend that entire amount you just wasted on some medication that MAY save your life? Hence you are already up with money my friend, because you don't even have to be in that position to spend that money that way.
D. Treat gambling strictly as a hobby and entertainment and do not allow it to be more than that, if it turns addictive, cut it out, take a break, go back to simple things that made you happy prior to it.
E. There is much more to life than money and the pursuit of it.




 
Prospect
Participation Meter
Joined: May, 2011
Posts: 47
Posted: #44
[Quote: Originally Posted by mgmprofits]

Wow, only a $700 loss and years later you still feel that? And I thought I was bad being bummed out the next day. lol I get over the losses usually within 24 hours

I had one loss for $4500 which was by one game by half point, at last second, on a fluke touchdown. That one hurt for a while. I bet $300 on a teaser and the last game was Detroit +3.5 on the teaser, they were in green Bay and Rodgers wasnt playing. But the backup QB threw for like 550 yeards. Detroit was up and winning with hardly anytime left but then that insane QB (Dont even remember his name) threw for another TD at the last second, and destroyed my ticket. I thought I was cashing that bad boy. Crazy thing is, had I bet at william hill I'd of won because they give you slightly better spreads. It was late, new years eve, so I bet at the strip at southpoint.

... It was Matt Flynn... I remember that game too because Jordy Nelson should have been sitting out that game, getting rest before the playoffs. He ended up scoring like 3 TDs.
 
Prospect
Participation Meter
Joined: Nov, 2014
Posts: 26
Posted: #45
Quote Originally Posted by masterkush:



Anyways, go get some pusay and beat that ish  up. That alaays makes me feel better after a bad loss.... my wife is walking funny this morning after my denver loss.

Good luck and keep your head up


made my day

that's her
that's me


 
Prospect
Participation Meter
Joined: Nov, 2014
Posts: 26
Posted: #46
Quote Originally Posted by masterkush:



Anyways, go get some pusay and beat that ish  up. That alaays makes me feel better after a bad loss.... my wife is walking funny this morning after my denver loss.

Good luck and keep your head up


made my day

that's her
that's me


 
Prospect
Participation Meter
Joined: Nov, 2009
Posts: 246
Posted: #47
Thanks for your honesty, all sports bettors feel your pain. Money management is of course the main principle to master and is illusive. We are all human and weak , sports betting is gambling not investing, we all have instances when we chase losses and lose all rationality. Money may be the root of all evil, too much breeds greed , too little breeds desperation . You have your physical health and that is huge, you recognize your failings- that is huge, you've shared your tale of woe- that is huge. You're on your way back to liking yourself, find your focus, find something positive to enjoy. Thanks again for bringing this gambling thing that all of us enjoy and suffer with into perspective! 
 
Veteran
Participation Meter
Joined: Oct, 2006
Posts: 1264
Posted: #48
You lost because of weak methods. And possibly poor money management.

Some of us make a comfortable living from sportsbetting.
 
Veteran
Participation Meter
Joined: Oct, 2006
Posts: 1264
Posted: #49
Oh and its not "gambling" if u have great methods.
 
 
Prospect
Participation Meter
Joined: Jan, 2015
Posts: 63
Posted: #50
A lot of us have been there bro, just keep your head up. Get back in the game of life! For us to be on here we all have that itch. Just need to learn to control it, money management. Take care of what needs to be taken care of first, family and friends. Do this on the side as a little bit of fun, don't know how getting kicked in the balls over and over is fun, but we enjoy it for some odd reason! Focus on the good things in life, get it back together, and if you ever do bet again just try to keep it under control
All Forums | General Discussion
About Us
Contact Us
Careers
Our Team
Brand
Testimonials
Betting Guides
Sportsbook Reviews
Betting News
Podcasts
Responsible Gambling
Betting Sites
US Betting Sites
Canada Betting Sites
Canada Casinos
Best Betting Apps
Contests
Streak Survivor
King of Covers
Ultimate Race
Office Pools
The Covers community has
810,221
lifetime members worldwide
Covers 30 Years Logo Established in 1995,
Covers is the world
leader in sports
betting information.
21+
Gambling problem? Call 1-800-GAMBLER
Help Privacy Privacy Choices Terms of Service Cookies Sitemap Forum
Covers is verified safe by:
Evalon Logo Logo GPWA Logo GDPR logo Logo GeoTrust logo Logo PCI DSS logo Logo
Copyright © 1995 - 2026 Genius Sports. All Rights Reserved.
If you choose to make use of any information on this website including online sports betting services from any websites that may be featured on this website, we strongly recommend that you carefully check your local laws before doing so.It is your sole responsibility to understand your local laws and observe them strictly.Covers does not provide any advice or guidance as to the legality of online sports betting or other online gambling activities within your jurisdiction and you are responsible for complying with laws that are applicable to you in your relevant locality.Covers disclaims all liability associated with your use of this website and use of any information contained on it.As a condition of using this website, you agree to hold the owner of this website harmless from any claims arising from your use of any services on any third party website that may be featured by Covers.