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I.quit.my.job
11 Nov 09 16:28
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Date Joined: 29 Mar 09
| Topic/replies: 729 | Blogger: I.quit.my.job's blog
Why is it so important to gamblers to be ahead at the end of the day/week? When really time has no relevance to betting whatsoever.........

In an ideal World we would all bet consistently, emotionless, not withdrawing any profits until the end of the season/year and collecting a big sum.

I've cut down my bets this week to 16 (aiming for three a day) .............but because I want to finish the week in profit have left out a few bets the last couple of days. If time had no relevance to gambling these bets would have been included and more profit would have been made.

Shopkeepers don't stay open all through the night if they've had a slow day or shut up at noon if they've had a busy morning................so why can't gamblers do the same? What is this necessity to be infront all the time?

Also I don't get all this 1pt, 2pt, 3pt bet business...........if you don't fancy a bet strongly enough to have 3pts on, why not leave it out completely? How many times has the NAP failed but the squeak has come in but you only had 1pt on?

I'm thinking of next week aiming for 3pt profit and then reducing stakes once the 3pt is reached to protect the profit............but again this bring's me to the question - why is time so important in this game?

Interested to hear people's views on this, I posted the question on my thread but nobody's reading.....hopefully can get some answers here

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Replies: 25
By:
Lori
When: 11 Nov 09 16:33
Why is it so important to gamblers to be ahead at the end of the day/week?

It's not.
By:
Lori
When: 11 Nov 09 16:33
if you don't fancy a bet strongly enough to have 3pts on, why not leave it out completely?

Take a GCSE maths course.
By:
The Betfairy
When: 11 Nov 09 16:38
There's a lot to be said for the strategy of working harder when the going is good, and stopping when things are bad. For instance, a taxi driver may stop when he's earned his day's quota, and keep going if he's short. In fact, he may be mcuh better off doing the exact opposite.

Having said that, I sometimes find it better to struggle on and work through my problems.
By:
owl4life
When: 11 Nov 09 16:38
miaow
By:
Hopeless bettor
When: 11 Nov 09 16:52
Time is very important to betting because you can not usually get your bets on after the event!
By:
kenilworth
When: 11 Nov 09 16:58
IQMJ, you seem to more controlled by the very things you are asking of.
By:
Alex the old wrinkled retainer
When: 11 Nov 09 17:02
Lori 11 Nov 17:33
Why is it so important to gamblers to be ahead at the end of the day/week?

It's not.






Spot on. I have a lot of time for this Lori bloke.
By:
Moon Light
When: 11 Nov 09 17:02
Time issue: it's nonsense. Good gamblers aren't influenced by those things.

Points issue: Bring up the long thread discussing Kelly staking. You'll find Lori's views expressed at greater length!
By:
Ron Pillock
When: 11 Nov 09 17:05
Time its all relative innit? depends if youre a Fly or an Elephant
By:
Muqbil
When: 11 Nov 09 17:11
Also I don't get all this 1pt, 2pt, 3pt bet business...........if you don't fancy a bet strongly enough to have 3pts on, why not leave it out completely? How many times has the NAP failed but the squeak has come in but you only had 1pt on?

Absolute cobblers. If the squeak is winning more than the NAP something is fundamentally wrong with the selection process, period.
By:
Coachbuster
When: 11 Nov 09 17:57
i try to reach a weekly figure if i can ,albeit the 'average ' if i dont reach it ,it doesnt bother me.There will always be next week .

i guess everyone has a different approach
By:
I.quit.my.job
When: 11 Nov 09 18:21
ok to the experienced gamblers it's not important to be ahead at the end of day/week..............but to me it certainly was and I'm sure to alot of others it is.............hence the chasing - not accepting losses and bad beats..................if people accepted that time didn't matter like alot of you guys obviously do then they wouldn't chase..............chasing is the biggest problem for alot of gamblers

I didn't realise when people put up 1pt, 3pt stakes it had a relation to KELLY.................I thought it was based on how strongly they fancied the bet.............so all tipsters when they use points stakes are basing them on Kelly?...................I get Kelly but have no intention of ever using it, level stakes for me............... fair play if you make money using it
By:
I.quit.my.job
When: 11 Nov 09 18:23
Coachbuster 11 Nov 18:57
i try to reach a weekly figure if i can ,albeit the 'average ' if i dont reach it ,it doesnt bother me.There will always be next week .

i guess everyone has a different approach


What do you do when you reach the target?
By:
Coachbuster
When: 11 Nov 09 18:40
IQMJ

I carry on , i try to pick the matches i like the look of but rarely bet for the sake of it
By:
I.quit.my.job
When: 11 Nov 09 18:51
Coach - do you carry on with same stakes or reduce them to protect the profit?
By:
Coachbuster
When: 11 Nov 09 19:20
No, i bet according to the game and the odds i can get .

Any profit is history for me .

Although if i have a bad loss then i am naturally a little wary for a couple of days
By:
YOULITTLEBOTTY
When: 11 Nov 09 19:31
Time is relevant if you are trying to be a pro gambler and live off your earnings.
You have to at least know that there is some reasonable time frame in which you can and will realise some spendable profits.
Obviously this time frame is not hours or even days, but it certainly comes into play at some point.
After al you have to compare your earnings on the capital you employ in your gambling, with those you could alternatively earn if you employed your capital elsewhere.
Time is always of the essence in any form of investing capital.
By:
I.quit.my.job
When: 11 Nov 09 19:54
Coach - one more - do you withdraw any profit daily, weekly or monthly?
By:
gambeano
When: 11 Nov 09 21:45
Slightly out of context I know, but as Luca Cumani once said "You only worry about the time when you are in jail," ;)
By:
Coachbuster
When: 11 Nov 09 22:02
IQMJ

Monthly for me .
I'm in two minds whether to take out a 20% loan to increase the bank .

I dare say this is something most forumites have considered .
By:
kenilworth
When: 11 Nov 09 22:40
Coachbuster 11 Nov 20:20


No, i bet according to the game and the odds i can get .

Any profit is history for me .

Although if i have a bad loss then i am naturally a little wary for a couple of days


Spot on that post. Exactly my view.
By:
YOULITTLEBOTTY
When: 11 Nov 09 22:51
Coach
Borrow to gamble.
No I don't think most of us think that way.
We're not that good at it, gambling that is.
You must be though.
By:
Coachbuster
When: 11 Nov 09 23:28
Botty lol ..if i was any good i wouldnt have to borrow .

Seriously ,i was thinking if you needed a larger bank, and funds were tied up on a project it would be prudent for the sake of paying back 20% a year .
Or you could just stick to your exisiting bank . It all depends on your monthly outgoings i guess.

Mine are much higher than i would like,.so its never easy to build a higher bank :(
By:
I.quit.my.job
When: 11 Nov 09 23:55
thanks guys, so you ramp up stakes when you see more value in the bet? I'l have to check last week's selections on whether this would have been more/less profitable for me...........certainly means I would have had more on MC/MC which would have gone down......... I think I'l stick to level stakes and aim for 60% strike-rate
By:
Moon Light
When: 12 Nov 09 00:00
thanks guys, so you ramp up stakes when you see more value in the bet?

That's also the idea behind Kelly.
You can only benefit from Kelly if you are fairly confident about which are the best bets, and how good they are. If not, best to use a 25-pt bank or somesuch.
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