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Post by mummersfarce on Mar 9, 2017 9:19:18 GMT
since how long have you been betting? How big have you won so far and how much have you lost? what sports do you mostly bet on?
I did it for the first time ever when you mentioned the odds on India v/s Aus after the 3rd day. I put in 1000 on Aus and 500 (100rs bets on 5 different ones). When Indian batting started collapsing there was a cashout of 2000rs and I took it. All in all, by the end of the test I had made 2.7k on 1.5k I had put in. Took out 1k and made other bets on soccer, Cricket, Tennis etc with the remaining 1.2. It went upto 1.8 the next day but lost it all after putting it back in for different ones lol. guess I got greedy. Thought soccer bets were the safest but lost it all after making some initially.
I can see how people can get addicted even when they have lost lots of money. Need some tips from you.
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Post by Aj_June on Mar 9, 2017 11:35:41 GMT
Hi man....
I gambled for the first time during Australia - South Africa ODI series at the end of 2014. I don't do it for living but just for fun and that's why I bet very small amounts. I have a quota of 500$ for a season and I don't put anything more than that. The important thing to understand is the money management. Level stakes profit is a better indicator of your performance than any other measure. For example, I broke even this season or made a slight profit of 50$ overall but my level stakes profit was really good. So I couldn't win big because when I had a bad phase I started putting bigger amount than my average amount (desperate to get back the lost bets).
What is level stakes profit?
You put three bets with same stake (say Rs1) at odds of 1.83 and 1.92 and 2.12. You won the bets at odds of 1.82 and 2.12 and lost the best odds of 1.92
Your level stake profit will be +0.83 -1 + 1.12 = +0.95 unit. So basically you earned 95 paise overall after putting 3 bets of Rs1.
Now if you had put Rs 100 at 1.83 & 2.12 bets and Rs 200 at the bet with odds of 1.92, you would have ended with a loss of Rs 5. That's why level stakes profit is important.
Keep in mind that upsets happen all the time, so situational betting is important. Like Barcelona needed that win yesterday and you could have predicted that they would likely win by 2 goals. I know none of us expected them to win by 5 goals. So the right thing to do was to bet on Asian handicap -1.5 for Barcelona for yesterday's match. Please google and learn about Asian handicap if you love to bet on soccer.
Lastly my record
2014-15 - Season started with $500 and at one time my account had $1200. Took out $200 but then lost remaining 1000$ before I went big on few bets. Should not have happened and I forgot level stakes is the most important thing. Overall, I lost 300$ for 2014-15
2015-16 -Again, started with 500$ and at one time account reached around 950$ but again lost during a bad run. had taken out about 200$ again so overall lost 300$ for the seaosn
2016 -17 - Started with 400$ and reached 1000$, took out 90-100$ 5 times so had an overall profit of about $50. I ended my betting this season some days back as I have decided to appear for CFA exams this December and gambling is a bit stressful. usually the season ends with the end of Champions Trophy and starts with the start of premier league. But cricket can happen at any month. You could alternatively try putting your picks on OLBG website and play with virtual money to learn more. Remember to not get addicted to it. Given My CFA exam, i am going to stop gambling at least till August.
Now biggest and most important point : When you win, take out your profits and not let it sit in your betting account in hope of making a big bank roll. Imagine if I had taken out my money in all 3 season and not kept them in betting account? I would have had a positive profit of over $1400. But I didn't do that and so far have lost $550 over the last 3 seasons. From next season i will take out money periodically. i will also remember that it is marathon and not a sprint. I do expect to win from next season as I did finish in profit from October to January on OLBG.com virtual betting picks. I couldn't win big only because I didn't adhere to putting level stakes and because I didn't take out money periodically.
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Post by mummersfarce on Mar 9, 2017 16:03:41 GMT
Thanks for your explanation man. Really appreciate it. Since I am new to this, dont know much of the betting lingo but got most of what you have explained.
I understand exactly what you mean when you say "desperate to get back the lost bets". Afraid that is what led me to bet big after I lost some money betting on tennis.
Thing about soccer though is I dont follow it, dont watch it and dont understand it to full extent. Only ever watched it during world cups. So the matches I bet on was unknown teams with unknown strengths. Frankly dont remember their names now. I just put money on a team which is ahead by a goal after the half time, bet on the lesser than the number of total goals in match etc. So there was a match in its 60th min and scoreline was 1-0, so put big money on 'total num of goals less than 3.5' but in the end 4 there 4 goals in total.
So I think I will stop betting on soccer for now and only do it on cricket which atleast is a sport I understand. I had made money by betting against Pujara not scoring a century, Rahane being the first to get dismissed on the 4th day etc. I also won quite a few bids by betting for '2.5 or less runs an over' whenever Jadeja was bowling. Thought I would bet big and rake in a big amount only to know there was a bowling change and Ishant came in and leaked like 6 runs in a over lol. Would have know about the bowling change if I was watching the match.
Yes, Now I do realise how crucial it is do periodic withdrawals and not get too greedy. Also it is very easy to forget looking at the larger picture when you win a bid after loosing 2-3 consecutive ones. You feel like you are doing well even though math tells you otherwise.
Btw, wish you good luck with your exams.
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