Fellow Gamblers...Should I do this?

g8tor20 · Dec 10, 2003

Hey guys....I am a rec gambler and started the season with $200 bucks. After 3 months of wagering...I ended up with $203. BUT....I just lost two $10 dollar bets in NCAA Basketball. Then....foolishly....I bet $20 on another game to try and quickly recoup the $20. Now I am down $30.

Should I just keep betting an amount to get back to $200. I mean...I am bound to win one of these times and get back to even. ie...bet $30...then $60....then $120....and so forth. How many times can I lose in a row???

I wont do it b/c I have never bet more than $20 on any single game and never will, but that seems to be a way to get back to even.

Anyone ever try this? Is that how people get into gigantic debt? Just me thinking after losing $30 in one night.

Dillrod · Dec 10, 2003

all it would take is 3 losses in a row to be down 200 bucks with that strategy.

GreedyReedy · Dec 10, 2003

Dont chase money..There a lot of good values in some games..Find them and pick you out some winners...Money management. Sometimes you just have to take your beatings for the week, and start new.

Hardwaymoney · Dec 10, 2003

double down losess gets you more losses..
winners and losers come in streaks when you get hot then add to your bets never chase....

winbet · Dec 11, 2003

Welcome to a well trodden path

BernieVegas · Dec 11, 2003

Gator

MONEY MANAGEMENT!!!---Ever hear of it??? That style you are talking about using is for Ham'n Egger gamblers, LOSERS!!! Bet all the games for the same amount and bet 3-5% of your bankroll per play. Remember all the same amount. With a $200 bankroll I would use $10 plays...

Start this Sunday with Baltimore Ravens, St Louis Rams and OVER the TOTAL Atlanta/Indy. You will get your $30 back....

Yours in Winners
Bernie

g8tor20 · Dec 11, 2003

Thanks for the replies. I know I wouldn't do that b/c its not my style...just something I thought about and I figure thats how people go down the crapper. My money managment has been good thus far and I guess its just about hitting a streak sooner or later and getting back in the black. I'll just keep hacking away....thanks for the piggy back picks Bernie...I might play those and see what goes..............

hdaddy · Dec 11, 2003

Dont worry about a short term loss. Even if you end the season $30, $50, or $100 bucks down .. big deal. Chasing losses is the stupidist thing you can do. If you are a recreational gambler a loss shouldn't hurt you anyway (Gambling Bible Rule #1: Don't bet what you can't afford to lose). Money managemnet is the key. Do your homework on the upcomming games and place 3 to 5 bets a week at $10 - $15.