General Betting
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Does anyone know if it is possible to set staking limit on Betfair, e.g. only being able to stake the total amount of $100 per day?
When I have money in my account, I often place bets out of boredom - and we all know where that leads to. So, If I could set a limit that I can only stake a certain amount per day, I would definitely pick my bets better.
When I have money in my account, I often place bets out of boredom - and we all know where that leads to. So, If I could set a limit that I can only stake a certain amount per day, I would definitely pick my bets better.
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You could always transfer some to another wallet -Aussie or even casino wallet and simply transfer the amount you wish to use each day.
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nonni, you could always get help with your gamling.......... at GamCare
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You could do it with an e-money account (Neteller, Moneybookers). Set an appropriate daily deposit limit at Betfair, and then transfer your betting capital from and to the e-money account each day.
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i think if you go in to your account you can set a daily loss limit or a weekly or maybe month limit, check it out ,
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just checked............ only a weekly loss limit can be set
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Yeah, you have a daily deposit limit, but the loss limit is only weekly. That's why, if you want a daily loss limit, you have to go down the slightly long-winded e-money route.
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nonni, you need to walk away from the screen. If you're putting bets down "out of boredom", then it is the same as playing FOBT machines.
There is more to life than betfair. It starts with a thirty minute walk and grows from there. |
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Shapeshifter,
Probably the best advice on this thread. |
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I think it depends on the extent to which you put on 'boredom' bets. I used to find many nights I'd get restless and put a bit of money on the odd race I wasn't interested in - not big sums relative to my usual betting, but enough to undo some of the good work I'd do earlier in the evening when not focused. I used, erm, physical restraints to prevent myself from accessing that money after a certain amount of activity, and I found that after a period, those impulses to place boredom bets went away. I could then drop the restraints and I was fine.
It's really a matter of reconditioning the mind. It can certainly be done as long as you aren't too far gone. |
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Thank you guys for all your advice. This has actually nothing to do with gambling addiction and spending too much time on Betfair. I do have a fantastic relationship, stable job and exercise 5 times a week.
My only mission is to use betting to cover my cost of living (less housing). When I buy a pizza, I withdraw $12. When I fill my car with gas, I withdraw $100. When I go to the movies, I withdraw $15 etc. I only need very few bets per week to be able to do this. However, I sometimes place bets (out of boredom), even though I have covered my expenses. With more bets comes greater risk and therefore I'm trying to reduce the number of bets I place. Perhaps, the best way is to do it on a weekly basis. Deposit money, and place few 'safe bets' and withdraw it all. When I say safe bets, I mean 0,5+ on Barcelona, Real Madrid games etc. |
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nonni, my post was not about gambling addiction. I, myself, have made bets out of 'boredom' so speak from experience.
I've gotten into "a quick trade" on a tennis match that suddenly turned into 45 minutes of hedging to recoup my 'boredom bet'. What my point was that as long as the screen is on, betfair is a click away, the boredom bet one step further. Today, for example, traded and played the horses till 3 then, after a successful day, walked away till the last at Wolverhampton booting the computer up and landing a decent score. I logged off and turned the screen off only to come back now to back Torquay. No trading. Just a bet and off to enjoy the evening checking in for the score with 15 minutes left. The point being: from 5:30 till now, no U.S. racing to fill the time till now. Hopefully Torquay will be a bonus to the day. |
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What you mean there are safe bets where you can't lose your money. Why didn't somebody tell me this? I've been placing bets where it's possible the outcome I want may not happen and I may lose my money.
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Boredom bets don't really matter if they're done within a set staking plan. You will only lose to commission in the long run. Not good but not a disaster either.
Problems arise if you have no staking plan and risk increasing amounts on boredom bets. Let's face it, even granny smith who's never placed a bet in her life could wager 100k through random bets on BF and on average she will come out only 2k down. |
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The problem with 'boredom bets' is (and I speak from experience).
- Sit down to computer to play Wolverhampton on a Friday night with proper research and selections in hand. - There is 30 minutes between races and yo have selections on 1st, 2nd, 4th, 5th and 6th race. - Your first two bets come in!! Between 2nd and 4th race is an hour so over to U.S. racing. You decide to lay the third fave at 9/1 then the odds move in drastically leaving your attempt to make £2 in bad trades with a liability of 30% of your bank. No problem, the odds will move out in a minute.....then the market suspends with no in-running trading. - You have no pictures or feed so you visit the forum to see several U.S. players typing "BOOOOOOM" as their play came in which, coincidentally is your lay. - You wait several minutes hoping they are wrong. Then the market closes and the money is gone. - You now go "tilt" and decide to chase the loss and besides your selected play on the 4th at Wolverhampton, you lay two other horses for high liability based on nothing but chasing. - Your selection comes in second to one of your lays killing more of your bank. - Out of anger of feeling stupid, you log off, your bank decimated, a lot of good plays including two correct score bets from mid-week football. - The next day you log on hoping the money magically is still there. It is not. And you discover your 5th and 6th selections at Wolverhampton, both healthy ew plays, both produced green with a place and a win. So if not for your 'boredom bet', you would have had a fantastic Friday. - - The problem with internet betting is that it is there 24 hours a day. I'm lucky to have Shapeshifter Jr and Princess Shapeshifter who know that when I'm at the computer working, the do not disturb sign is up. But I also get more joy out of a game of top trumps or helping with their homework then I would have a random bet at Turf Paradise. |
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^^^^^^^Not many can say 'this has never happened to me'^^^^^^^^^^^^
I can't  |
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I find having a second room dedicated to betting can help here. If you've made your selections in advance, there's not really any excuse in hanging around and getting distracted by a bunch of races you have no strong thoughts about. Of course, if you spend your evening sitting next to an open laptop showing Betfair, it's much easier to be drawn into that one 'fun' bet that ends up sending you on a chaotic chase at the expense of your well-planned selections.
A major distraction certainly helps as well. My best periods seem to come when I'm engrossed in a good book. If I'm almost having to pull myself away from the book for a couple of minutes so that I can decide whether or not to play a race that I analysed earlier, I'm unlikely to want to linger and pump coins into an unplanned race. Makes losing a race go down that bit easier too. |
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Since moving to St Albans, the house we rented had a loft. It is a ladder to get in so once down and away from the world of sports, I am away.
Mrs Shapeshifter gave the space to me in exchange for no business or betting available in the house area. It made a huge difference. |
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Great move. A slightly uncomfortable chair in front of the computer helps too!
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What if your bet goes inplay and the ladder gets stuck
 All these distractions and tactics aren't necessary if you can learn self control. Once you get into the habit, it gets very easy to control boredom bets. Go and do something productive, it's better for your balance and better for you. Talking from experience, I used to be shocking especially if I'd had a bad day. So you can retrain yourself, but you have to replace it with something else. Then it's easy. |
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What you describe Shapeshifter everyone goes through when learning, and you only learn by going through it. Like BTO says, it gets very easy to control, to the extent that you can forget how difficult it is for those at the beginning of the journey.
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