General Betting
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I am not a heavy gambler at all but it's still not good when you do your bank in to zero in two days. I hadn't actually bet on betfair for a long time but about 3 weeks ago I put £10 in for a laugh and with some luck managed to get it to about £130 until 2 or 3 days ago. I had one very unlucky bet which was in the Golf and since then I've completely done the lot due to some serious stupid bets. My question is this when you have the bitter taste of an unlucky bet that lets you down at the last minute how the hell do you stay calm enough to not do gung ho bets. I can't get my head round it. I was very good on the way up to the £130 but one stinking unlucky loser and the slippery slope that leads to bank zero was unsurmountable for me. I said to myself I would take £70-80 out and buy something and I never did and then woosh zero balance here I come. By the way I am not going to stick another tenner in cause confidence is about as low as it can get even for a smalltime punter. How do you stop the urge to place stupid gung ho bets?
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Replies: 27
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I am far from perfect but one thing is to bank manage by betting no more than 1 to 3% of your bank at anyone time ... that way if you have a loser it doesn't rip your bank apart ....
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My question is this when you have the bitter taste of an unlucky bet that lets you down at the last minute how the hell do you stay calm enough to not do gung ho bets
So, let me get this right, what you're saying is that when you get that horrible feeling of getting slapped about by bad luck, you have an urge to instantly get slapped about again? That doesn't seem normal! |
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Ask bf for a handout, you sound like just the sort of customer they want to keep.
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What about thinking of it as just the intial £10 lost?
Alternatively do you leave up low lays on your selection in case they get gubbed? If not maybe you should start if this is how you feel after losing a close one. |
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www.gamcare.com
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Lori 03 Aug 11 15:44
My question is this when you have the bitter taste of an unlucky bet that lets you down at the last minute how the hell do you stay calm enough to not do gung ho bets So, let me get this right, what you're saying is that when you get that horrible feeling of getting slapped about by bad luck, you have an urge to instantly get slapped about again? That doesn't seem normal! in fairness Lori, from reading the forum this seems very normal, so many guys on here just go chasing when the lose a bet. My advice to the OP is definetly only stick a % of your bank on each selection, and ACCEPT their will be losers and move on. A lot of this game is how you react to a losing bet and as you have found out your reaction leads to wipeout.... just stake sensibly and then the losers shouldn't hurt as there is no time limit |
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Go to the fridge and make a large sandwich - make sure you eat it before placing another bet. Unsliced bloomers are perfect foil for aggression release.
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The reasons for chasing are usually
a) anger then "I want to get my money back" b) disbelief that you cant be that unlucky so you tryu again. You need to limit the liability of your remaining bank to max 5% imo You need the rare ability that pros have, not to care if it wins or loses because your bank management is working. |
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It may sound obvious, but if you havent got an edge, dont bet.
If you have a perceived edge that you have researched over a decent period, and know the reasons why it is an edge and why it is currently sustainable, then place up to 2% of bank on it, depending on price and max drawdowns of course. When you lose, you wont care as your spreadsheets will show you that over the long haul, its to be expected and you will bounce back. Most importantly, if you do feel the "mist" decend and you do feel "unlucky" or "hard done by"...walk away until this has been rationalised, analysed and understood. Dont come back until you feel happy, relaxed and confident. |
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Oh, one thing i forgot to mention, ffs dont place it on here if the duck has it at same price ;)
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You lost the same way as you, no doubt, won. You overstaked, doubled up, got 'lucky' and all was dandy then you had a reverse and it went the opposite way, you had a bit of fun and lost a tenner, not bad for a few weeks entertainment.
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It depends how you bet really. If you want to stop yourself from staking a big sum of money in one day, open a Moneybookers account and use that to fund your account - moving money back and forth is pretty much instantaneous (unlike credit cards), and the costs are tiny.
The advantage here is that you can then go into your Profile and adjust the Daily Deposit limit so that you can only deposit a small amount of money a day - say, £10. Keep your main balance in your Moneybookers account and simply move over the maximum amount at the beginning of each day. At the end of each day, move anything still in your account back to Moneybookers. That way, the most you can lose is the money you put over that day, plus any winnings you've made with that amount. Once you've used up your Daily Deposit Limit, you can't deposit anything more until the next day. There are limitations. If your strategy was to use a large amount of your balance to lay, then setting a modest Deposit Limit will be impossible. You may have to wait for the markets to be settled on existing bets before placing another bet. And if you want to raise the Daily Deposit limit then it'll take a week for any changes to come into effect. However, it will generally prevent you from carefully building up a balance over a decent period, only to throw away the entire amount with several big chase bets. |
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Truth is probably you were lucky to build the bank up in the first place and then bad luck[probably equaling out] plus some indiscipline accounts for you blowing it. Nothing unusual or too bad about it at the numbers you are playing but if you have any aspirations to winning you need to know why you are winning when you win, why you lost when you lost and have some bank management and discipline.
All these things that make winners make betting incredibly boring and not for most so you need to decide why you want to bet - for the rush of staking way more than your bank should allow or building an edge and painstakingly following your head at all times. |
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Welcome to the 'done my bank' club masterpf...I would say it's par for the course on here. I've done it many a time, most recently during the shambles that was the Copa America QF match between Argentina & Uruguay so you aren't the only one mate. Chin up and all that.
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And think of the high flying company you're in.
The chief executives of Bear Stearns, Lehman Bros. |
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I've done this too and I'm keen to read the advice given. Over the years I've tended to blow big loses less often but it still happens, despite having a lot of discipline and experience.
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It should never happen if you're disciplined and experienced.
For sure you will experience many unexpected and painful losses, but they should never be the result of making an irrational, spur of the moment wager. Totally unacceptable in a pure controlled professional gambling sense. But totally understandable in a normal, human, ill disciplined sense. And we're all humans on here hopefully. Maybe there is a bot poster out there ? Wouldn't surprise me. |
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You are closest there has been to a bot poster on here froggy
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Yep I lead with my chin on that one jimmy.
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You mean of course till Bff came along I hope ?.
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[:D]
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[;)]
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turn the pc off and cool off
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Gee its a good thing you did your bank here and not at purple where all the sharks are, rest easy knowing you lost it to uuuuuummmmmm well who did you lose it to??????
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Don't get too downhearted, masterpf.
You have to experience mistakes to be able to learn from them.Don't we all. |
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A cheap lesson so far but from the sound of it you'll have to learn it (go through the same cycle) quite a few times for it to sink in.
Try forgetting about trying to win money for some time and just do tiny bets to test your theory(s) / skills. Go back and plot your results. A downward sloping graph will curb your desire to chase and spur you on to being smarter or tell you to stop more than your bank balanceever will. Also remember most big losses start with a small loss and bad luck seems to be bunched not spread. A long time ago I layed some longshots after a small loss and took a 27:1 loss followed by a 15:1 loss followed by an 8:1 loss in 3 bets in sequence within about 10 minutes. Probability of that is over 3000:1 My mindset was there is no way I can lose again as things went from bad to worse. It had taken me months to build my bank and then took me months of hardwork to recover. |
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A cheap lesson so far but from the sound of it you'll have to learn it (go through the same cycle) quite a few times for it to sink in.
Try forgetting about trying to win money for some time and just do tiny bets to test your theory(s) / skills. Go back and plot your results. A downward sloping graph will curb your desire to chase and spur you on to being smarter or tell you to stop more than your bank balanceever will. Also remember most big losses start with a small loss and bad luck seems to be bunched not spread. A long time ago I layed some longshots after a small loss and took a 27:1 loss followed by a 15:1 loss followed by an 8:1 loss in 3 bets in sequence within about 10 minutes. Probability of that is over 3000:1 My mindset was there is no way I can lose again as things went from bad to worse. It had taken me months to build my bank and then took me months of hardwork to recover. |