Professional Gambling Questions

HalfTimeWagerer · Dec 2, 2008

Hi everyone,

I'm not sure where exactly to post this thread, so I'll try it right here and we'll see what happens. I'm so glad I found this site, I've been looking for a forum like this for fellow gamblers and somehow never found this one. A little history about me.... I'm 29 and have been losing as a part time gambler since I was about 22 or so. I'd normally deposit $500 or so and get it up to a couple thousand sometimes, but VERY rarely every make a withdrawl.

I'm not sure what has happened, but I've been on the best run of my life. It all started a couple weeks ago with the Tech-OU game when I loved the over. Anyways, I deposited $500, and it's now over 14 grand.

My question is, I know that I will eventually get on a bad run, and I'm worried about my money management skills. How do I not piss this all away when I run into a bad weekend?

I read a thread about professional gamblers on this site, and the person said something about having 40 grand before you start and you need to wager 400 bucks a game. Is that right? Honestly, for myself if I could make about 1,500-2,000 a month I would be extremely happy!

I've been wagering on about anything that comes on, and have been thinking about putting $25 on a game, if I lose chase it with $50 on the next, then 100, so on and so on. What do you think of a system like this? Is it feasible with the amount of money I have? Or should I try something else.

Any and all advice, or systems that you use would be greatly appreciated!!! Thanks a lot

tatehill2000 · Dec 2, 2008

you need help my freind, you need to learn hedging, you need to keep your bets (with 14 thous) at a 200-300 level,

and if I could recommend you need to develop some local freinds that you can chat with,

good luck
tater

I almost forgot, take a 4,000 pay out IMMEDIATELY!!!!!! dotn keep more than 10 g in any book,

tater

artiesliver · Dec 2, 2008

Chasing your losses by increasing your bet:
Loss 1: -$25
Loss 2: -$50
Loss 3: -$100
Loss 4: -$200
Loss 5: -$400
Loss 6: -$800

After six losses in a row you are down $1575. You would have risked $1575 to win $25 or a 1.58% payout. Too much risk for so little return. And this doesn't take into consideration any juice you may pay (if playing favorites or spreads).

Everyone has those weeks when you can't even win a one horse race, so it can be a dangerous strategy.

whalewager · Dec 2, 2008

Take up the piano. You will be at the track picking up tickets off the ground in no time.

Btw...good luck

terpkeg · Dec 2, 2008

IMO. It seems like you need to be independently wealthy to even consider being a pro sports gambler. What happens if you go on a bad run? You cant pay your bills and wou wont think clearly.

First off, I would forget the idea of wanting to make XXX a month. When you have these goals, it causes you to chase.

I think you need to look at this as a hobby for now. Take 4K, be happy.

With the other 10K divide it up between 3-5 books with good ratings. I suggest using an exchange to avoid juice, maybe another a book with good bonus program and another with wide variety of lines. I would suggest bookmaker, 5dimes and matchbook to start.

Then set a base play. I use one percent of my bankroll at any given time. Your base play will start at 100, call it 1u. If you have an edge on a game maybe play 2u or 3u. I have rarely gone above 5u, but remeber your base is 1u, you have to think there is great value to go over that.

Start charting all of your plays by sport using excel. This will help your disipline. You will see where you are struggling. You will see how your bets tend to increase as a season goes on when you start to struggle, it helps you control myself. Also, you will see how a bad chase can ruin alot of hard work. You can go 49-34 for a season and see it slip away with a bad chase day. When you acknowledge the time you put in and can see it, you will be less likely to slip up.

But understand it is very difficult. Dont take hot runs for granted. Expect losing streaks. If you want this to be a hobby, spend some time on handicapping yourself but surround yourself with knowledgable people, whether on the net or personably, and take their advise as information only.

Understand that you can be on the right side and lose. A -200 favorite may win 90% of the time. This is great value. 1 in 10 you lose, but the bet was the right side. Nothing is 100%.

BOL

Basket Case · Dec 2, 2008

georgejefferson said:
Take up the piano. You will be at the track picking up tickets off the ground in no time.

Btw...good luck

:lolBIG:

That's harsh.

HalfTimeWagerer · Dec 2, 2008

Thanks for all of the advice. I have hedged some bets, and like how that works a lot. I guess the question I was asking is what do the guys who are successful do over the long haul. I know that any streak won't continue, and that's why I asked about chasing. The way that it was explained though in a previous post was great though and explained how ridiculous it can be after losing 4 or 5 in a row.

I do have the money spread out in a couple of sites right now, but will take out about 6 grand tomorrow.

Thanks very much to everyone who gave advice, and I'm running late for my first piano lesson, so I have to run.

kattaylor · Dec 9, 2008

Thanks for the tips

reservoirdog22 · Dec 21, 2008

Poker sites

I am a newbie who enjoys NLHE poker and have been playing $25 - $75 buy-in tournaments at PokerStars & FTP with some success. Both sites deal unbelievable hands and I am wondering if there is a site that is more realistic?

timotinbowen · Dec 22, 2008

reservoirdog22 said:
I am a newbie who enjoys NLHE poker and have been playing $25 - $75 buy-in tournaments at PokerStars & FTP with some success. Both sites deal unbelievable hands and I am wondering if there is a site that is more realistic?

Don't buy in to the "online poker is rigged" theory. This is a lie that is often propagated by losing players to account for their poor performance. Often they will say that they are solid, winning players live but lose online. Sometimes this is true, but more often they simply have not taken the time to keep records of their wins/losses.

You see more bad beats and outlandish hands online because more hands are dealt per hour. Also, players often play multiple tables. Finally, when you are at a computer screen, you are more of a captive audience, so you watch the hands closer.

A few robust statistical studies have been done to ensure the integrity of the games, and have found nothing outside of statistical norms. Just keep working on your game, understand that variance is a big part of poker, and over time you should be fine. Good luck!

Scoops · Dec 22, 2008

reservoirdog22 said:
I am a newbie who enjoys NLHE poker and have been playing $25 - $75 buy-in tournaments at PokerStars & FTP with some success. Both sites deal unbelievable hands and I am wondering if there is a site that is more realistic?

If you find one,Please let me know :toast:

Scoops · Dec 22, 2008

timotinbowen said:
Don't buy in to the "online poker is rigged" theory. This is a lie that is often propagated by losing players to account for their poor performance. Often they will say that they are solid, winning players live but lose online. Sometimes this is true, but more often they simply have not taken the time to keep records of their wins/losses.

You see more bad beats and outlandish hands online because more hands are dealt per hour. Also, players often play multiple tables. Finally, when you are at a computer screen, you are more of a captive audience, so you watch the hands closer.

A few robust statistical studies have been done to ensure the integrity of the games, and have found nothing outside of statistical norms. Just keep working on your game, understand that variance is a big part of poker, and over time you should be fine. Good luck!

Which poker site do you work for?:toast:

timotinbowen · Dec 22, 2008

Scoops said:
Which poker site do you work for?:toast:

LOL, none. I just hate to see new players being dissuaded by ignorance. Also, we shouldn't allow people to use bogus excuses to explain away their poor results. I often see people posting "proof" of rigged sites, and the hands they post are played horrendously. It's fine to play poker recreationally, but don't cry foul when you can't beat 50NL.

Dr.T · Dec 22, 2008

"I'm 29 and have been losing as a part time gambler since I was about 22 or so."

You have been losing as a part time gambler and now you want to be a pro gambler beacuse you hit a hot streak. Think about that.

Only 5% of people who bet end up making a profit because it is hard to do. The basic traits of a gambler are not to think clearly, not be patient, play parlays that don't make sense, drink and wager, bet on their favorite team, bet against teams they hate, betting on a TV game or game that they can hear on the radio. Also, most people don't know when to stop. When is a good stopping point when there is excitement in another bet.

Be sure to check out THE BOOK OF BOOKIES that says you are better off taking bets than making them because of the general nature of the gambler.

Also, for anyone who thinks they can trust online poker be sure to check out the segment on poker that 60 Minutes did in 2008.

Teddykgb · Dec 22, 2008

whalewager said:
Take up the piano. You will be at the track picking up tickets off the ground in no time.

Btw...good luck

2008 post of the year!!!!

kidslick · Dec 22, 2008

HalfTimeWagerer said:
Hi everyone,

I'm not sure where exactly to post this thread, so I'll try it right here and we'll see what happens. I'm so glad I found this site, I've been looking for a forum like this for fellow gamblers and somehow never found this one. A little history about me.... I'm 29 and have been losing as a part time gambler since I was about 22 or so. I'd normally deposit $500 or so and get it up to a couple thousand sometimes, but VERY rarely every make a withdrawl.

I'm not sure what has happened, but I've been on the best run of my life. It all started a couple weeks ago with the Tech-OU game when I loved the over. Anyways, I deposited $500, and it's now over 14 grand.

My question is, I know that I will eventually get on a bad run, and I'm worried about my money management skills. How do I not piss this all away when I run into a bad weekend?

I read a thread about professional gamblers on this site, and the person said something about having 40 grand before you start and you need to wager 400 bucks a game. Is that right? Honestly, for myself if I could make about 1,500-2,000 a month I would be extremely happy!

I've been wagering on about anything that comes on, and have been thinking about putting $25 on a game, if I lose chase it with $50 on the next, then 100, so on and so on. What do you think of a system like this? Is it feasible with the amount of money I have? Or should I try something else.

Any and all advice, or systems that you use would be greatly appreciated!!! Thanks a lot

I suggest you private message this poster

Iceman

here are some of his threads

http://64.40.117.4/showthread.php?t=640174&highlight=iceman

http://64.40.117.4/showthread.php?t=642764&highlight=iceman

http://64.40.117.4/showthread.php?t=629944&highlight=iceman

http://64.40.117.4/showthread.php?t=632702

Now take some time and read these threads

Also what book are you using

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