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Old 05-31-2006, 12:45 PM   #1
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Lightbulb Gambling Rules

The whole business of how much of your bankroll is "too much" in today's thread got me thinking. What are some Do's and Dont's in gambling?

I strictly abide by these 5 main ones:

1. Keep a record of ALL your bets placed and results, regardless of how big or small. For those taking gambling a bit more seriously, a breakdown by sport is very uselful as well that way you can see which sports you do well in and those that don't, which can drive what you bet on going forward. It is all about achieving efficiencies in the sports you bet on to gain that edge over the bookies

Personally for me it is baseball, I am well down over the past 3 seasons so decided to effectively remove it from the sports I bet on consistently.

2. Take a break - regardless of whether you feel "in the zone" or whether you are in a slump.

3. Be responsible when it comes to staking plan - for me 5% of your bank is maximum, anything more regardless of how confident you feel the bet is poor money management and will ultimately cost you in the long run. Bet what you can afford to lose.

4. Do NOT chase your losses - this links to point 2 of taking a break when you are in a slump. Always think long term profit instead of making a quick recovery.

5. Know what you are actually betting on - sounds obvious but I wonder how many gamblers out there actually do the sufficient research before placing a bet. If you don't have a solid reason to place a bet, don't do it.

Ultimately have fun - some do it as a profession, some as a hobby but regardless if it comes to a point where you are not enjoying, stop. End of the day, it is only money and there are plenty more important things in life.

good luck

Last edited by bad gambler : 05-31-2006 at 12:52 PM.
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Old 05-31-2006, 02:26 PM   #2
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Default Re: Gambling Rules

well said BG ..i couldn t agree more on every point
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Old 05-31-2006, 07:53 PM   #3
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Default Re: Gambling Rules

If you cant pick the winner within the 1st 5 minutes dont bother researching.

If your parlay loses dont try to reparlay the remaining games.

Last edited by Lebowski : 05-31-2006 at 08:09 PM.
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Old 06-01-2006, 03:03 AM   #4
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Default Re: Gambling Rules

Fair point on that parlay one Leb - I know sometimes I get tempted to reset if the first leg loses
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Old 06-01-2006, 08:00 AM   #5
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Default Re: Gambling Rules

Quote:
Originally Posted by Lebowski
If you cant pick the winner within the 1st 5 minutes dont bother researching.

If your parlay loses dont try to reparlay the remaining games.
1) don't agree
2) agree
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Old 06-08-2006, 09:55 AM   #6
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Default Re: Gambling Rules

Good post BG

I made one of these myself :



dave's gambling 10 commandments

--------------------------------------------------------------------------------

I see quite a few cappers here make key mistakes that lead to their down falls. I'm not going to go deep into the reasons why but here's some sportsbetting tips (All written by me and are JMO) :



1) Location, location, location when buying a property. Research, research, research when betting on sports. If u are too busy in your life to cap games don't bet them.


2) Be selective. 1-4 plays a night is the best way to go anymore and a bad patch could set you right back.


3) Fade public plays.


4) Don't play big favourites. -135 or higher is often too much. If you must, take a 2 team parlay with two big favourites you like.


5) Shop around for the best prices. Have at least a few accounts that offer competitive quotes.


6) Take breaks every so often even if you are on a hot streak. You will feel refreshed when u get back into it.


7) Bet up to but never more than 5-10% of your bankroll.


8) Keep a record on all sports u wager on. Know where u stand on them all long term, so u can focus on your best one's and cut out the one's u are struggling with.


9) If u are in it to make money, do just that every day u bet In other words If u are up on the day and like a later game bet with some not all of your day's profit. If u are down don't bet unless u really like a later game. Tomorrow is a new day.


10) Last but not least....look after yourself keep fit with regular exercise, eat and drink healthy.


Goodluck and happy punting

dave nz
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Old 06-08-2006, 03:52 PM   #7
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Default Re: Gambling Rules

Great points BG - I agree with nearly all of them

Thanks for sharing
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Old 06-10-2007, 11:34 PM   #8
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Default Re: Gambling Rules

So 1 year has passed, anyone else here care to share their experiences based on the last year?


Having a look at my top 5 to be honest nothing really has changed for me.
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Old 06-23-2007, 06:32 AM   #9
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Default Re: Gambling Rules

most important ones is discipline and having a medium to long term outlook
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