I just read a post on a gambling forum that is typical of the average person walking this earth. The poster wrote a paragraph how they want to cut through all of the BS and learn how to bet sports for a living from someone who knows what they are doing and can teach them, X, Y & Z. But the poster claimed they weren't looking for a handout.
These types of posts are symbolic of the human condition, at least in the small pool that I wade through (either the Chicago Metro area, or the interwebs)..........everyone WANTS to have a great body, everyone WANTS to make more money....yada, yada, yada........the list is endless of things people want to do............but actually doing......that means you need to learn how first. Learning to Learn. People really don't want to do that, for a myriad of reasons, but mostly because applying yourself is tough and you fail a lot in the process.
I was too upset by the posters utter lack of perspective on the situation (ie, asking for handout in a competitive market that only has a small float out there to begin with)..........but if I was going to give him a hint, it would be this.
"All the things you need are sitting out there on the internet, it takes a little digging, and the ability to learn, but you can find them. Judging by your post though, you won't. Good day."
Thursday, May 27, 2010
Monday, May 10, 2010
Time Value of Money
A very wise person warned me that betting futures isn't generally the best allocation of funds for someone with a small bankroll (anything under 100k).
Of course, I didn't listen and plopped down $500 on a future wager on March 19, 2010. This wager will be settled September 1, 2010....and the wager had a 19% edge. Pretty substantial for any bet.............then I wanted to barf when thinking about this...............if I had simply NOT bet the future and bet on various other opportunities that came up over the course of the 23 weeks...........even at a conservative 2% advantage and rolling that $500 over once a week.........my $500 would have accrued an expected value of $288 ($788 total), instead of the $95 that I garnered with that future bet.
I should listen to those wiser than I
Of course, I didn't listen and plopped down $500 on a future wager on March 19, 2010. This wager will be settled September 1, 2010....and the wager had a 19% edge. Pretty substantial for any bet.............then I wanted to barf when thinking about this...............if I had simply NOT bet the future and bet on various other opportunities that came up over the course of the 23 weeks...........even at a conservative 2% advantage and rolling that $500 over once a week.........my $500 would have accrued an expected value of $288 ($788 total), instead of the $95 that I garnered with that future bet.
I should listen to those wiser than I
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