It's all about having a goal, and once you've got your goal in mind you need a plan of action. As I wrote last night, my goal is simply to not go broke by doing this thing that I do. What is your goal? Why do you gamble? You have to figure that out first. If you're a losing gambler and you sincerely wish to quit, you believe you can quit, then I wish you the best. But if you're a losing gambler and you have no intention of quitting, then you must know why it is that you do what you do and what you hope to gain by doing it. If being a loser is sucking the life out of you, you better figure out how to get better at it. If you feel like you just got caught jerking off when your girlfriend walks into the room while you're placing a bet, you better figure it out because nothing feels better than knowing what you're doing. As they say, those who fail to learn from history are doomed to repeat it. Now that we have a goal (as I wrote last night, I am writing of my own experience and my own feelings about this topic. My goal and my plans of achieving that goal are no doubt different from yours.) we need a plan.
I wrote extensively about the Internet last night and how it has been integrated into our lives. If the goal is to not go broke, and if we have a history of doing just that, then we need to realize what causes that to occur. How many online sportsbooks do not offer a casino to compliment their sportsbook? How many online sportsbooks do not offer a poker room? How many times have you bet more than you should have on a single game, watched that game lose, and then wandered back into the other room to find another bet? Your face is burning and you're mad as hell. You're up too late and you're home alone, and how tempting is it to throw out a chip at the blackjack table? Just one is what you tell yourself, just one is all I need to get even and I can go to bed happy and feeling good about myself. Do I need to go any further?
We are in a defensive mode now. We have a bankroll. This is our betting money and we must protect it. Chances are, it is much less than we wish it were. There are some popular sayings that quickly come to mind, one of which is, "you can't win what you don't put in the middle", and another of which goes, "money you don't lose will buy just as many things as money you win". Which philosphy do you subscribe to? I subscribe to both. After all, you can't hope to win if you're playing with scared money. At the same time, you need to realize when it's time to stand up and walk away. Nothing feels better than waking up the morning after you suffered an 0-4 day and knowing that you still got some bullets left to fire, and nothing feels worse than waking up and wondering why you did it again and checking your bank account to see if you have a nickel you can play with tonight. In short, the first part of our plan comes down to this: what are we comfortable risking? If I lose this bet will it piss me off or will I simply shrug my shoulders and move on? If I'm watching a movie with my girlfriend, will I pause the movie halfway through just so I can catch the score or will I not think about the outcome of the bet until tomorrow?
Since we know that we have a habit of chasing losses when we have a bad day, we must limit our bets to an amount that we are comfortable losing. Surely you wouldn't chase a 5% loss of your bankroll by risking the other 95%, but it's much easier to chase a 30% loss by risking the other 70%. A 100% risk for a 40% gain at -110 odds. Those are the kinds of odds we take that make us the losers that we are. The longer we keep ourselves in the game, the more of a chance we have. So that is what we must do: understand that we are in this for the long term and recognize what we are comfortable losing in the short term. After that, bet accordingly. But for the love of God, don't risk the last $200 of your bankroll knowing that if you lose you'll only have $50 to play with tomorrow. I read a quote on this site the other day that went something like this: "It's okay to eat with your gambling money, but don't gamble with your eating money." Those are loser odds indeed.
For many bettors, overcoming the psychological handicaps is the most important factor in achieving long term success. Ask yourself these questions: 1) why do I do this and what do I hope to gain? 2) do I want to quit, and if not, why not? If I do, why don't I? 3) if I keep doing this, what are the consequences of continued failure? 4) what mistakes have I made, and what can I do to avoid repeating those mistakes? Be honest. No one has to know this but you. Nothing can motivate the soul more than having a goal and a plan grounded in the reality of a -110 world.
God bless, and happy President's Day.
I wrote extensively about the Internet last night and how it has been integrated into our lives. If the goal is to not go broke, and if we have a history of doing just that, then we need to realize what causes that to occur. How many online sportsbooks do not offer a casino to compliment their sportsbook? How many online sportsbooks do not offer a poker room? How many times have you bet more than you should have on a single game, watched that game lose, and then wandered back into the other room to find another bet? Your face is burning and you're mad as hell. You're up too late and you're home alone, and how tempting is it to throw out a chip at the blackjack table? Just one is what you tell yourself, just one is all I need to get even and I can go to bed happy and feeling good about myself. Do I need to go any further?
We are in a defensive mode now. We have a bankroll. This is our betting money and we must protect it. Chances are, it is much less than we wish it were. There are some popular sayings that quickly come to mind, one of which is, "you can't win what you don't put in the middle", and another of which goes, "money you don't lose will buy just as many things as money you win". Which philosphy do you subscribe to? I subscribe to both. After all, you can't hope to win if you're playing with scared money. At the same time, you need to realize when it's time to stand up and walk away. Nothing feels better than waking up the morning after you suffered an 0-4 day and knowing that you still got some bullets left to fire, and nothing feels worse than waking up and wondering why you did it again and checking your bank account to see if you have a nickel you can play with tonight. In short, the first part of our plan comes down to this: what are we comfortable risking? If I lose this bet will it piss me off or will I simply shrug my shoulders and move on? If I'm watching a movie with my girlfriend, will I pause the movie halfway through just so I can catch the score or will I not think about the outcome of the bet until tomorrow?
Since we know that we have a habit of chasing losses when we have a bad day, we must limit our bets to an amount that we are comfortable losing. Surely you wouldn't chase a 5% loss of your bankroll by risking the other 95%, but it's much easier to chase a 30% loss by risking the other 70%. A 100% risk for a 40% gain at -110 odds. Those are the kinds of odds we take that make us the losers that we are. The longer we keep ourselves in the game, the more of a chance we have. So that is what we must do: understand that we are in this for the long term and recognize what we are comfortable losing in the short term. After that, bet accordingly. But for the love of God, don't risk the last $200 of your bankroll knowing that if you lose you'll only have $50 to play with tomorrow. I read a quote on this site the other day that went something like this: "It's okay to eat with your gambling money, but don't gamble with your eating money." Those are loser odds indeed.
For many bettors, overcoming the psychological handicaps is the most important factor in achieving long term success. Ask yourself these questions: 1) why do I do this and what do I hope to gain? 2) do I want to quit, and if not, why not? If I do, why don't I? 3) if I keep doing this, what are the consequences of continued failure? 4) what mistakes have I made, and what can I do to avoid repeating those mistakes? Be honest. No one has to know this but you. Nothing can motivate the soul more than having a goal and a plan grounded in the reality of a -110 world.
God bless, and happy President's Day.
