Wednesday, December 31, 2008

Be honest with yourself

When gambling, it is imperative to be honest with yourself, whether it be Poker, Fantasy Sports, Betting Horses, Sports Betting, Casino Games, etc..........know why you are betting and embrace it. If you are betting for a profit, know how to beat the games you are playing and implement the proper analysis and execute proper bankroll management.............If you are betting for recreation, know how much money you can lose and also know that it won't effect you emotionally and make sure you withdraw the amount of enjoyment you seek.

I have a friend who claims to be a winner in sports betting, mind you, he may actually be a winner (although I highly doubt it), but he makes all of the wrong moves and every wager he makes sounds like he makes it for -EV reasons..............the other night he bought 3 points in an NBA game from +7.5 to +10.5. He doesn't understand edges, bet sizing, or any methods of generating a profit, he really doesn't even bet on more than one book. These are all the moves of a person who is betting for recreation..............which is fine, and if you can afford to do it, more power to you.............but just be honest with yourself and realize, I have money to burn, I like to put money on a game to have a little action and be done with it.

Just remember, if you think you can just look at a game and bet it with no research or analysis, don't you think lots of people would do this and don't you think the sports books in Vegas and offshore would be going broke.......YOU CAN'T and THERE NOT.

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