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OhWhenTheSpurs
13 Nov 09 13:44
Joined:
Date Joined: 26 Aug 09
| Topic/replies: 29 | Blogger: OhWhenTheSpurs's blog
I write this because I've stupidly just lost £900 betting on basketball after chasing only a £70 loss on horse racing.

I knew I shouldn't of but I couldn't help myself, and I'll save all those that are gonna call me a mug, yes i am.

The thing is though this my profit and loss is:

Basketball: -£962.44 | Cricket: £5.08 | Greyhound Racing: -£3.56 | Horse Racing: -£284.98 | Snooker: -£126.60 | Soccer: £1,677.42 | Special Bets: £7.52 | Tennis: £208.18 Total P&L: £520.62

It's frustrating but my fault for not sticking to football because If I stuck to football I would be £1677 up not £520 up.

Just wanted to ask everyone, do you sometimes bet on sports your not as familiar with because your main sport is not on? How do you resist it?

I've only been on betfair for just under 3 months, so relatively new, did any of you go through stages like this?
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Report The Betfairy November 13, 2009 1:45 PM GMT
Resistance is futile.
Report The Betfairy November 13, 2009 1:46 PM GMT
You already know what the answer is.
Report Coachbuster November 13, 2009 1:49 PM GMT
Put history in the past .

Stick to football from now on .
Report rustyboy November 13, 2009 1:49 PM GMT
How much do you know about basketball?

ONLY BET ON WHAT YOU KNOW.

You clearly know a bit about tennis and football. ONLY BET ON THOSE, they're big enough and liquid enough to satisfy your pockets.
Report OhWhenTheSpurs November 13, 2009 1:57 PM GMT
Thanks for the advice guys. Your all right in what you say. It's my own fault it's taken a £900 loss in basketball to finally realise I should only bet on football, an expensive lesson but it was inevitable really when I was betting on sports that I have little knowledge of.
Report Lusitano71 November 13, 2009 2:39 PM GMT
tennis and football, nothing else
Report I.quit.my.job November 13, 2009 3:49 PM GMT
what I say now is if you cannot do a write-up about your bet or give good reasons why - you should not bet

I've been a compulsive gambler for 12 years..............it's only now after being on here 8 months that the penny's dropped and I can finally put my sporting knowledge to some use and hopefully make some consistent profit. Understand the mathematics involved in betting and spend more time researching the bets. If you spend an hour researching a basketball game then by all means get involved - if you spend two minutes guessing, then what do you expect?

I've limited myself to around three bets a day to take away my compulsiveness in gambling, a similar approach may help yourself. Some say 3 a day is too much, some not enough, but if you spend as much time analysing every detail in your bets, then you should be rewarded. The thing about gambling is there is sport on 24/7 nowadays so it is hard to call it a day when you have a bad run/luck and it is hard to call it a day when you are on a roll (one more bet etc). There is always an equal opportunity tomorrow.

If you are in chase mode you will only lose more anyway because your head is spinning and you are not thinking straight. If you are on a high, the head will be buzzing and instead of keeping to the same methods/stakes that got you in such a good position, you will think you are invincible and take bigger risks, making silly bets or guesses most of the time. The psychology involved in gambling is the biggest reason people lose - not their sporting knowledge/bets. Some on here will tell you we are stupid and that they have been great from Day One, but if you are willing to learn and listen, you will make money.

Another long post I've made when I'm trying to cut out the time spent in the forum.......but your betting style reminded me of me
Report gwladys street November 13, 2009 4:03 PM GMT
i.quit.my.job

i was very similar to yourself, i now limit myself to about 5-10 races each day ( greyhounds ).
I dont chase, and i dont get ahead of myself when i get a few winners lays/backs.
I try and make a small profit each day and if i hit a couple of losers i switch the comp off and start again the next day, not chasing is the most important thing for me.
I used to bet on the horses aswell but after looking at my p/l it was obvious i was alot better on the dogs so i stick to them now, that means not getting bored and having a small watching bet on the gg's like i used to and chipping away at my profits from the dogs.
Report thehun10. November 13, 2009 4:13 PM GMT
You guys need help!
Report JWL November 13, 2009 4:26 PM GMT
If you have done the chase once you will prob, no definitely do it again. To do it on a sport you don't know is a sign of illess! If I were you I would go and have a holiday and pack up now, it will be cheaper for you in the long run!
Report I.quit.my.job November 13, 2009 4:37 PM GMT
to say you have never chased or had more on then you should of done - you are lying imo

hope my post helps similar situations and good luck

to say just because you've made mistakes in the past you will always continue to make them - is completely ludicrous............we do have brains you know
Report OhWhenTheSpurs November 13, 2009 4:45 PM GMT
Thanks for the advice, gonna print this off so I can take in some of the advice properly.

Worked out I've won 307/375 football bets, if i calculated it correctly it means I've won 81% of football bets. Will look to improve that, and instead of saving betfair home page on my favourites, I will save http://soccer.betfair.com/ and not go on any other page so I can avoid the temptation. Little things but hopefully will be effective.
Report Far From Trouble November 13, 2009 5:29 PM GMT
generally - 1
Report flatliner November 13, 2009 5:33 PM GMT
2, 98% footie,2% horses about.
Report Ron Pillock November 13, 2009 5:33 PM GMT
I cant imagine what it must be like to have to restrict your self from betting on anything, just makes it forbidden fruit and all the more appealing.
Report Rugbyleaguer November 13, 2009 5:41 PM GMT
I was a compulsive gambler for years, I would not like to think how much I lost. The knowledge I gained though gave me a real edge, but I could never make a profit until I lost that gambling compulsion.

Mostly I lost the urge and buzz of a bet and also lost and learnt, made less and less mistakes. Chasing comes because people can't take a loss, they feel deflated/frustrated and want the buzz of being up.

What I did was become emotionless to money, winning or losing did not matter as long as I won over the long run and that's how to try and look at it. If you lose, close your computer and go and do something, that mild anger/frustration, urge to get it back soon goes, don't bet through emotion.

Saying that I still have weak moments, I don't think you ever lose that gambling edge, but I get far more of a buzz of taking money of the enemy than I ever did gambling, it hurts me far more to lose £50 on a stupid bet than it does £500 on one that I really liked.

If I work on one rule though it's never to chase, you can't and wont win every bet, so let it go.
Report The Betfairy November 13, 2009 5:52 PM GMT
Is that 98% Spanish footie, flatliner?
Report thankyoumugs November 13, 2009 6:52 PM GMT
lay horses and bet on football, everyone has to learn the disciplin of not chasing and if your any good at your chosen sport, you will win in long term, chasing losses is and losing big is first step on road to disciplin, disciplin is all in the mind, you either bestow this quality to your self or learn to live with being a mug, choice is yours.
Report Coachbuster November 13, 2009 7:20 PM GMT
mainly footie,some tennis
Report brentford November 13, 2009 7:39 PM GMT
the general forum mafia tell me

you can only bet on or talk about betting on BF in relation to horse racing....so watch it !!!
Report flatliner November 13, 2009 7:46 PM GMT
98% in-play, look at them all :)
Report Hayden November 13, 2009 8:57 PM GMT
4 sports namely Horse racing , Tennis , NHL and NFL , no interest in following or punting any other sport tbh although I do watch both codes of Rugby , one other point of note is that I never keep daily records just one cumulative p/l figure , worked well for me since becoming full time punter 26 months ago and obviously this method prevents any chasing as you only ever look at one positive figure.
Report I.quit.my.job November 13, 2009 10:01 PM GMT
Hayden what's your betting style? trading, laying or betting? you must have an idea in your head if it's been a good day/week surely.................if you're trading it's easy to trade on auto-pilot and genuinely not know how far infront you are, but you know if it's a good day or bad day ...............that's like owning a shop and not knowing how well you are doing? how's business mate? Well I dunno I sell a few things now and then :) interested in what you mean by only looking at a positive figure, if that's your BF balance you must see it change everyday and therefore keep a record in your mind.....................it would be ideal not to get emotionally involved in any bets you make, but you must get a little buzz when you've had three on the trot? Or a tennis player saves 6 match points and goes on to win for you..........
Report brentford November 13, 2009 10:28 PM GMT
I assume you at least 'watch' cricket as well hayden as you've expressed strong views on it in the past.
Report Hayden November 13, 2009 10:29 PM GMT
backing and laying and volume mix of around 86% bookmaker v 14% betfair over the last couple of years , yes sure you have an idea how you are performing even though you don't keep daily records just by a quick division of the cumulative p/l figure by 2yrs but the point is I bet systematically on horse racing so driven by the system which may mean 2 bets for 3 days then a dozen in a single day , who knows , the other sports are more view orientated in particular NHL whereas tennis is a mathematical exercise based on odds expectancy added to a vast knowledge of the sport and it makes a winning product.
If you asked me how i'd performed over the last say 3 months i'd be able to give a rough estimate to the nearest few hundred quid but as for particular days I wouldn't have a clue tbh , all I ever need to know is the cumulative total and roughly how long it's taken added to a belief everything has a logical reason for working as it does , that's as simplistic as need be for me tbh and that way some of the gambling pitfalls you read so much about on gambling forums etc are never options.

each to their own I guess , good luck.
Report Hayden November 13, 2009 10:33 PM GMT
brentford

No not really mate only when there's nothing else going on , hate the 5 day stuff but watch the 20/20 when it gets interesting , suppose that qualifies me as a non follower tbh , have to remember before the last 2 years I was a different punter with a totally different strategy so have sporting knowledge beyond my main 4 mentioned but since full time i've only focused on the 4.
Report I.quit.my.job November 13, 2009 10:53 PM GMT
good way to be Hayden like a robot - fair play
Report brentford November 13, 2009 10:56 PM GMT
that would explain the views .... ;)
Report Hayden November 13, 2009 11:02 PM GMT
exactly brentford , tbh mate try to avoid forums which the sports don't hold any interest and the only ones you catch me on these days are North American , Horse racing , maybe Rugby and this one , unless I see a thread title asking about a bet settlement or looking for some info etc.
Report Hayden November 13, 2009 11:07 PM GMT
I.quit.my.job

yes majority is fairly robotic on reflection but I get enough buzz and volatility from my NHL betting to make up for all the other sports tbh.
Report brentford November 13, 2009 11:09 PM GMT
wasn't a biggy but found some irony about some comments you made about the longer form of cricket when you were such a fan of a sport that struggles to avoid being slated even in it's majority key franchise area.... ice hockey - (particuarly on narrower NA rinks)..
quite a fan myself but the irony struck regardless...never enjoy the destruction of valid sport , least by those with little interest in it.
Report I.quit.my.job November 13, 2009 11:14 PM GMT
NHL is a nightmare to watch, damn puck flies all over the place - I will pop in for some pro tips though ;)
Report Hayden November 13, 2009 11:21 PM GMT
agree brentford , that's why I try to stay away from things that don't concern me these days , have my weak moments when browsing but generally avoid places i'm not wanted or can't offer any worthwhile opinion.
Report curlywurly November 14, 2009 7:58 AM GMT
4 main ones - basketball, nfl, baseball and rugby make up 80% of profit
Report Mully November 14, 2009 8:29 AM GMT
I'm 100% on Pelota. Had one single bet on it in seven years one Christmas Day I think? :D
Report layer1982 November 14, 2009 8:44 AM GMT
A famous man once said.. "life is simple u make choices and then u do not look back" move onwards and upwards...
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