What is the #1 reason most gamblers don't win?

[CHOPTALK]

These are the kind of threads I miss Justin Cruise

 

[SharkTank]

This falls under money management. A bad thing is over betting your bankroll. I read an article a few years back that I thought was pretty interesting. In football and basketball, when betting the spread, you should bet between 3-5% of your bankroll. You will maximize your profits if you make around 200 bets or so per season and hit around the 54-55% mark. he proved it mathmaticaly that if you bet around 8-10% of your bankroll and hit 60%, you will still lose money.

how is that possible?

 

[joebatters]

how is that possible?

Strictly math..it surprised me too. I wish I had the math skills to prove it here, but I don't. It was an eye-opener for me as well. It was published by northcoast sports.com. I'm not sure they are still around.

 

[blueedwardsII]

how is that possible?

only way thats possible is that you go on a losing streak at some point that wipes out your bankroll

 

[CHOPTALK]

The reason most lose is because they press submit after entering there wager info.
If they would not press submit they would not lose.

 

[CHOPTALK]

This falls under money management. A bad thing is over betting your bankroll. I read an article a few years back that I thought was pretty interesting. In football and basketball, when betting the spread, you should bet between 3-5% of your bankroll. You will maximize your profits if you make around 200 bets or so per season and hit around the 54-55% mark. he proved it mathmaticaly that if you bet around 8-10% of your bankroll and hit 60%, you will still lose money.

It depends on what order you win the 60%.

If you win exactly 6 out of every 10 bets like clockwork your statement is false.
But it you go on a hot 80% run for a while then you hit a cold 35% run for a while your statement is true.

What you are saying is not true 100% of the time.

 

[blueedwardsII]

my first trip to vegas was in 1993. i was 24 years old. i knew how to play blackjack but not craps. seemed like all the action an excitement in the casino was around the craps tables so, i crowded in too watch. i was intrigued but unable to get near the table to try and play. i also didnt really understand how to play since there were so many bets flying around the whole time. i tried again earlier in the day during the trip and was able to get a spot next to the stick man at the frontier. asked him, "whats the secret to winning in this game?"...he replied, "win a bunch of money the first time you play, then never play again". he was right, of course...

 

[TopShelf11]

making too many plays

 

[joebatters]

It depends on what order you win the 60%.

If you win exactly 6 out of every 10 bets like clockwork your statement is false.
But it you go on a hot 80% run for a while then you hit a cold 35% run for a while your statement is true.

What you are saying is not true 100% of the time.

I don't doubt you. I know you have a lot of knowledge.. My point is in answer to the question 'why do most gamblers lose?' I think overbetting your bankroll accounts is a reason some do. I'm talking season-long or year-long. Over a week or so , it won't matter as much. As long as you don't bet like 200 games.

 

[agourbet]

Most of the times they do understand how the odds system works. Most of them just want to place a quick bet in order to feel the thrill on the game. Their purpose is not to win money, they just need to feel some feelings when they watch a game.

 

[Heatwave]

Love threads like this. Some solid posters in here.

 

[festeringZit]

The #1 reason most gamblers don't win in the long run is that they make -EV bets.

-EV bets are what built Las Vegas (and every other casino), and is what keeps the lights on month after month.

 

[spartanfan53]

Your all wrong.

Gamblers as a rule are impulsive and impatient. And patience and being selective are the two most important ingredients to winning at gambling.

 

[festeringZit]

Your all wrong.

Gamblers as a rule are impulsive and impatient. And patience and being selective are the two most important ingredients to winning at gambling.

Sigh. Explain how my previous post was wrong. You can be as patient and selective as you wish, but if your bets are -EV, you are going to lose money
in the long run. Fact.

 

[Willie99]

Chasing, greed, no patience, they're all related

 

[Seymour]

Problem is once you have a clue as to how to tread water and be slightly ahead over a drawn out period of time - u will be limited or removed

 

[Wins2day]

Problem is once you have a clue as to how to tread water and be slightly ahead over a drawn out period of time - u will be limited or removed

I've been " removed " in the past. This is true !

 

[Wins2day]

IMO picking winners is the key, it's hard to " Win " 100% of the time. Of course money management is also key to the process.

 

[Coldweather]

Lack of purpose, money management and being impatient! ETOH, while playing is also an

independent variable along with a lack of knowledge is also very detrimental IMO!cheersgif

 

[brendanjack]

Maybe a long corona holiday has offered a new perspective to my fellow degenerates. Yeah right