6 months of gambling, my life savings is gone

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Joined: Feb, 2010

Posts: 2849

Posted: Nov. 23, 2015 - 4:29 PM ET #51

Quote Originally Posted by Mikey15753:

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.

mgmprofits

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Joined: Sep, 2012

Posts: 6659

Posted: Nov. 23, 2015 - 7:50 PM ET #52

Quote Originally Posted by puffnsudds:

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.

Ah yes, Matt flynn....

But what is strange is that the spread moved to +7 right before game time. If Nelson was going to play you'd figure the spread would of moved the other way.

So really I was getting over 10 points on the regular teaser card. Normally it's like 5 or 6, as the opening spread on the game was 3 I believe but moved to 7 and Green Bay still wins. Detroit played very well in that game too offensively. Should of just teased the over instead. lol

LuckyLucian0

Prospect

Joined: Jul, 2014

Posts: 490

Posted: Nov. 23, 2015 - 8:15 PM ET #53

Too bad to hear mate. I hope you get back on track with your life.

MM is a girl but its the most crucial factor. 1-2% of the total bankroll per bet is what I play.

Stay out of this if you cant control it and enjoy life.

All the best!

lsufasteddie

Captain

Joined: Mar, 2007

Posts: 5779

Posted: Nov. 23, 2015 - 10:22 PM ET #54

Don't make a 50k Bet = problem solved

dannylhuynh

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Joined: Feb, 2009

Posts: 4948

Posted: Nov. 23, 2015 - 10:23 PM ET #55

bro go borrow money to gamble.. ok ... u dont play u don't win back

Trigg

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Joined: Apr, 2011

Posts: 2888

Posted: Nov. 23, 2015 - 11:16 PM ET #56

You gotta have a strategy in sports betting and preferably one that, with research/back testing, is profitable long term. It is no good betting on a hunch or with your heart, nor tailing anyone else. Once that capper goes cold, the chances are you would flit around tailing someone else until they go cold and so on. if you don't have strategies or methods to this madness first and foremost and are betting serious money, then just stop. Money management and yadda yadda are important, yes, but mean nothing if you don't have a strategy or strategies in sports investing.

As with life, you only get out what you put in. If you're expecting to get rich quick, laying down crazy sums on some game without decent research and just on a whim, then it's asking for trouble. Research, find a real edge versus the books, back test as far back as possible then invest. Confidence breeds success. Success breeds confidence. If you're confident and have great self belief in your research, found a profitable edge, remain disciplined and patient, then the sky truly is the limit.

Want2ride

Prospect

Joined: Nov, 2015

Posts: 193

Posted: Nov. 23, 2015 - 11:59 PM ET #57

What is this, some kind of GA meeting? If you are done gambling get off this site and do something productive with your time!

Relax_Dude

Banned

Joined: Dec, 2014

Posts: 4717

Posted: Nov. 24, 2015 - 11:58 AM ET #58

Quote Originally Posted by BornToDie:

50k every day on warriors money line since the start of the season = you taking the place of bill gates and floyd my nigga

Relax_Dude

Banned

Joined: Dec, 2014

Posts: 4717

Posted: Nov. 24, 2015 - 12:04 PM ET #59

Quote Originally Posted by Trigg:

You gotta have a strategy in sports betting and preferably one that, with research/back testing, is profitable long term. It is no good betting on a hunch or with your heart, nor tailing anyone else. Once that capper goes cold, the chances are you would flit around tailing someone else until they go cold and so on. if you don't have strategies or methods to this madness first and foremost and are betting serious money, then just stop. Money management and yadda yadda are important, yes, but mean nothing if you don't have a strategy or strategies in sports investing.

As with life, you only get out what you put in. If you're expecting to get rich quick, laying down crazy sums on some game without decent research and just on a whim, then it's asking for trouble. Research, find a real edge versus the books, back test as far back as possible then invest. Confidence breeds success. Success breeds confidence. If you're confident and have great self belief in your research, found a profitable edge, remain disciplined and patient, then the sky truly is the limit.

The only thing I would add, is that he should have formed (and other heavy gamblers also) an alliance or friendship with ANOTHER gambler he can trust. This other gambler could help put the brakes on. Gambling at that level NEEDS to become social. Alone is NOT the way to do it. Gambling starts as a solitary affair, but as the stakes become higher, it needs to be in union with others of like mind. If your wife is a non gambler, then seek out a buddy, or god forbid, even a tout you can call on the phone, even use this forum. "I really wanna put $50K on the Fakers and Harden--talk me out of it..."

BillAcceptor

Prospect

Joined: May, 2011

Posts: 54

Posted: Nov. 24, 2015 - 6:26 PM ET #60

If you bet the farm make sure you have more farms... Or better said never put all your available money on one horse.

My experience and biggest single bet was around 5k MLB ML on Yankees against the Rays in Yankees Stadium, I never had a thrill like that I remember. It was the 09th July 2011... Jeter saved my life.

Winning is not really difficult, taking losses without emotion makes you a winner! History showed chasing is not your friend for return a loss. The whole industry exists, because of this single wrong emotional thinking of human being.

Take this loss as a chance for a new life.

BOL

1129ken

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Joined: Dec, 2010

Posts: 2621

Posted: Nov. 24, 2015 - 11:04 PM ET #61

Quote Originally Posted by chicag0guy:

its a sickness

that I enjoy.

wizardofroz

Captain

Joined: Oct, 2004

Posts: 6742

Posted: Nov. 25, 2015 - 8:00 AM ET #62

Quote Originally Posted by nba88:

I have only

$200 in my bank account

Only $200? Compared to me, you are rich.

wizardofroz

Captain

Joined: Oct, 2004

Posts: 6742

Posted: Nov. 25, 2015 - 8:02 AM ET #63

Don't back down; double down!

sports_Network

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Joined: Feb, 2009

Posts: 8426

Posted: Nov. 25, 2015 - 8:43 AM ET #64

Quote Originally Posted by Want2ride:

What is this, some kind of GA meeting? If you are done gambling get off this site and do something productive with your time!

well said...actually, who really gives a rats azz, he lost, it's that simple, so why come into a sports betting forum and whine about it like a B.I.T.C.H. in heat; the commentary from the sympathisers, is enough to make one nauseated, typical Covers response by a bunch of degenerated losers all feeling sorry for someone who flushed his bankroll down the toilet by way of ridiculous wagers....now; mortgage your house, and become the next Iceberg Slim, come back and tell us all how you got it back, man-up or STFU

dannylhuynh

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Joined: Feb, 2009

Posts: 4948

Posted: Nov. 25, 2015 - 11:48 AM ET #65

Ib orrow to gamble..

GimmeMoneyNow

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Joined: Apr, 2015

Posts: 2874

Posted: Nov. 25, 2015 - 5:51 PM ET #66

Quote Originally Posted by nba88:

houston and lakers cost me big time

The answer to all your problems is so simple:

Take out a loan for $100,000 and put it on a 2-team parlay with the Pelicans and 76ers. BANG! Back in business, amigo!!

Quit gambling now while you still have $200. This obviously isn't your thing. Maybe take out your frustrations with papier mache, or bake a cupcake/brownie and call it a "Crownie" like arts & craftsy Tony Romo.....