Going straight to the point I want to talk a little about bankroll management and how we can effectively practice this to optimize our gambling wins and also help control excessive gambling habits.
Starting off as an early gambler can be a lot of challenging going through loses and even getting through those early stages of unguided addiction, this was a case for me cause I can remember how to struggle to get myself in oder for a while when I started taking gambling serious for a while, most of us enjoy gambling and would gamble more often than others and its quite needful that we don't overdo it.
Many of you already know about bankroll management and might already be practicing It even If not fully but however i would enjoy to share my view on bankroll management and how to practice it in your own way.
Bankroll management by definition refers to the strategies and techniques used to manage your betting funds effectively, ensuring you can withstand losing streaks and maximize your winning potential.
To practice bankroll management there are a few tips you must know:
1. Set a budget: to me this is the most important part of bankroll management and I know a lot of persons most already practice this, why I consider this the most important is cause if you have set out how much you are willing to give to gambling that is the first step to self control and even if only this is kept you can effectively practice you would have no problem with addiction.
2. Divide your bankroll or budget: this is just spliting your allocation into smaller parts, so that you can easily control how you spend it on gambling, why this is important is cause at times we might find ourselves in situations where we want to stake too high that it might include a huge portion of our budget and if we lose or spend so much too early when the allocated time for the vmbudget to last has not elapsed or is closed to then we can be tempted to add more funds or take out of our extra cash to gamble again.
3. Determine and manage your bet size: why i recommend this step is that this way you get to spend as you should on each bet, I'm normally a high staker so i would allocate up to 5-15% of my budget to each game I should play and its depends on the odds or how confident I am and my risk tolerance with respect to each game.
4. Play safe: we have always monitor and adjust our bet size and allocation with respect to how much we have lost or how well we are winning so that we can stick to our budget and manage it through out our playing time, also dont chase loses cause it could throw you off track, try to take a break and have rest when you lose money and stick to the budget.
By implementing these strategies, you'll be able to:
- Extend your betting longevity
- Reduce the risk of significant losses
- Maximize your potential winnings
- Enjoy a more sustainable and enjoyable betting experience
Remember, Bankroll Management is essential for responsible and successful gambling. It helps you stay in control, make informed decisions, and maintain a healthy relationship with gambling.
No matter the type of financial system you implement to control your gambling habits always take note of one thing, never use more than 10 percent of your income no matter how tempting it is, if you end up losing that 10 percent do not gambe again that month and wait till the next month before gambling again,..this is one of the best way to ensure that you stay within your limit and in control of your finances, sometimes I wish I have been following this system, I wouldn't have had so much losses this year, but life is all about learning.. it's better late than never...The last part you made about playing safe is also very crucial, make sure your risks are always calculated, this doesn't guarantee Profit though but it will definitely minimize your losses |
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It reminds me of writing an objective examination in high school and when you're done with the questions you're certain of, and you just do some random selections and luck could shine on you and you get up to 70% from your rough prediction.
If you do random selection, it means the chance from your prediction is 50%. Random is completely depend on luck, same like you pick the athletes in Olympic games. Understand the sports and familiar with the players or teams will increase the chance of your winning because you can value the teams/players with the odds and possibility to win. Understanding the sports will get you acquainted with odds systems, there's no doubt about that, but atimes the odds arrangements can be misleading, we have seen cases in sports betting where a team with a very big odd wins the side the bookmakers give the small odd I have won some games from random selections, I picked 2 big odds and the outcome was successful, gambling sometimes can be very funny and unexpected..But like you said knowing the sports and players can also increase your chances of winning too |
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The greedy was the biggest problem faced by the many of the gamblers,the reason for this was due to their continuous loss in the gambling game.If the gambler had face the loss,he should find the reason for the loss.If they find the mistake in the previous game,it will help the gamblers to make money in the upcoming game.If the gamblers had achieved their desired target,he should end up the game for that day and withdraw the funds.Because we never know when the game will get reversed to the losing.Many gamblers will continue to the next game after the targeted money was achieved in the betting.
Because after they achieved the target money,the gamblers get the over confidence towards their play.But they should remember they are playing with the algorithm based website.So anything occur in a short period and may leads to the loss of the entire money in the game wallet.So if you had better game on a particular day,you should end up with the withdrawal of that money before your mind would make you start the next game.Share your thoughts based on your experience in the gambling game with greediness.
First of all having the mindset that an outcome of gambling is going to be successful is kind of delusional to me in my opinion, nothing in gambling is sure, a successful outcome is never assured.in the aspect of greed I think it's common among many gamblers cause it's human nature, everyone winning in gambling would definitely like to continue winning forgetting that they can't always be lucky..But it's better to avoid being greedy cause it make you lose a lot of money, it's best to quit for the day after successfully doubling your capital |
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If you have money on a gambling site, you should just want to to have fun with it. That is just it. If you win, you can withdraw because you can lose it back if you continue to gamble. But most likely that the amount of money that you deposited into your gambling account can be lost. I gamble with just little amount of money. If I gain, I withdraw for that week and use it to have more fun like to drink beer and eat meat and food when hanging out with family or friends during the weekend.
A lot of people don't know your important your point is, I have had a lot of regrets in gambling and one of them is not investing my wins on myself, depositing any amount of money to your bet account whether a small or big amount is a 50/50 thing, you might make some Profit or lose that money.. That's why any money that goes into my bet account is considered lost, I don't count it as part of what I have. Losing a lot of money has made me realize that no matter how little your profit is it's very important that you priortize your needs first, don't try to use that profit to play again cause you might not be so lucky. |
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Maybe for those who are addicted to the world of gambling, it will be hard to leave it because for them, online gambling is entertainment that can make money and can also lose money in an instant, and it is very difficult to give up this kind of addiction for those who have spent a lot of money on the site. gambling, when they want to leave the casino, they will feel depressed, but when they have positive activities and make a lot of money, they will start to get used to not visiting gambling sites anymore.
You might actually have a point but do you think engaging in positive activities and finding other means of income is enough to stop compulsive or addictive gambling??..Then why are there medical doctors, engineers and people with professional careers still gambling knowing fully well that they don't need to gamble to make money, instead they throw their monthly income on gambling... Getting out of this lifestyle isn't as easy as you think, not saying it's impossible but it takes a lot of discipline and self restriction to do this.. getting a job or doing other activities isn't enough to help quit gambling |
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From the title of your thread, I'll say that win most times in sport depends on how well you know the game and the players. I don't think it would be wise to place bets on random sports without even know any thing about them. You might end up making too much losses. You were lucky as your predictions went well. But in reality it wouldn't be wise to take such bets. In sports bets you have to understand the game, which would in turn enable to make good strategy to place your bets and wins.
I have won several bets from just random sports more than five times...I think wins can also be a function of luck, I'm not disputing the fact that wins are also based on how well you know the sports, but that isn't all that matters, let's look at a football match for example There are so many factors that can alter the predicted outcome of a game, even if we know the normal game play of those teams , the outcome might go sideways... one of those factors is weather condition... I've played a game that was supposed to have atleast two goals but the weather condition was bad and due to that they couldn't even score a single goal, I think the percentage of luck involved needed is higher than how much you know a sport |
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Actually I don't know if this should be discussed here but I think it will make up a good discussion.
Although it's just for those that have joined a signal groups/channels for predictions, but still ended up losing. Am just curious to know how they feel when they paid for a prediction and finally lose the games even after paying their money thinking that the predictions are sure. IMO, this is a double loss thing.
A double loss indeed, I remember what happened to a close friend of mine, he was caught up with a lot of debts and he had about 20 thousand in his account so he thought about placing a bet of 15 thousand naira, he was unsure of his predictions so he paid five thousand naira for a three odds prediction on telegram... turned out that he lost the be, his 15 thousand was gone and also his five thousand naira was also wasted just like that...I wouldn't advice anyone to for predictions, what makes you think that the people giving out those predictions are experts, i see it as another system that people are using to scam others |
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@OP you need to know if not all people have a growth mindset.
Someone can learn from the mistake they did, but someone can't learn from their mistake, this is because they don't see it as a mistake, rather a superstition. If they're lose streaks and their bankroll are empty, instead of stop, they choose to make a deposit since they believe if they suffered lose streaks, they will win very soon.
So this problem is complicated, not all people are educated and see gambling as an entertainment.
You are right some people don't learn from their mistakes or experiences , instead they repeat it over and over again thinking that they will one day recover... sometimes when I place a bet and lose the game I take a break for a while and look at the reasons why I lost that bet then come up with a different approach instead of playing repeatedly and making the same mistakes, like you said a lot of people don't see gambling as an entertainment, they try to make it a source of income and as a result of that they keep losing.. I've lost a lot in casinos After months of losing I simply uninstalled all betting applications on my device so I don't make the same mistakes |
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Sent 10$ to the repayment address for an extension of the overdue loan please check and confirm.
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Weird Sports You Didn’t Know Existed, Available for Betting FunAfter reading this article it got me thinking how many games are out there that most of us haven't even heard of, but they do exist and some groups of people bet on those games. Here in Serbia, everyone bets on popular games, and the cock fighting (just one example) is not popular here, but in illegal circles there are some dog fights. Still, I wish to discuss just "legal games" with available markets in some casinos. I guess a lot of people heard about these games from the article, but I didn't know that people actually bet on something like this. So I am interested if there is anyone here who bet on "not popular" sports/games, maybe some description, and where we can learn more about that game/sport. These sports are quite funny, it's better to stick to what you know, as easy as these sports may seem you would be very surprised that they are hard to predict, wife carrying took me out, it is quite funny...in my opinion I think that before you start thinking of betting on sports you are not familiar with you should take at least three months to understand the game and know what's it like before thinking of betting on it , otherwise you are definitely going to throw your money away..on 1x bet there's an option to bet on gaming competitions between two people e.g call of the duty mobile..it seems easy but how can you know who the better player is cause you might be deceived by the odds |
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The poor shouldn't gamble in the first place, they should accumulate as much as possible to build their wealth. If they're keep gamble, that's the reason why they're still poor. Remember, gamble using free bet or faucet isn't gambling since you're risking for nothing.
So it's the rich that should risk more, they have larger money, means they can gamble mores.
Even the poor has the capability of gambling with a certain amount of money, as we know, gambling has unexpected outcomes.... it's very important for everyone to have limits thy don't exceed in gambling no matter what this includes both the rich and the poor, saying that the poor shouldn't gamble isn't an agreeable fact...They see lots of poor people in Nigeria that have won millions with less than a dollar, that was only possible because they decided to gamble, waiting till you accumulate wealth is wise but that doesn't mean you'll be I'm constant luck, in most cases a lot of rich people tend to get carried away by their wealth and gamble wrecklessly till it affects them financially |
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So today I came across a post on a WhatsApp TV that caught my attention. I have seen different telegram channels, groups, WhatsApp TVs and groups post sport bet codes and claim that their predictions are always 100% correct (which in reality is not) but never have I seen anywhere that signals are being given for casino games. Basically, what they image (below) means is that - you’ll be added to a group and then the so-called “signal provider” will give you the exact time and multiplier that a specific game (e.g Crash) will get to before it stops.  I’d like to hear your thoughts on this, do you think something like this is possible? Or it’s just a means to scam people off their money? I personally know that even the casinos don’t know the exact numbers that will come up next not to talk of an outsider. A lot of these things are edited , pay them no attention because they are fake, I've always wondered why someone would claim to have signals to casinos and still be broke, instead of getting paid for those signals why not use them for your own benefit..it's just like the aviator game , people claim that they have some hacks and signals but they are not playing, this doesn't make any sense to me, because if they have such Access they would have become multi millionaires.. There's a slim chance that people can find these hacks on the dark web but the probability of getting scammed is very high, my advice is to just forget about it |
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Taking unnecessary risk in gambling is mostly done by ignorant people, or those that are newly into the system, well it's understandable because they're ignorant of the risk management of gambling, but what baffles me is seeing experts taking unnecessary risk like betting heavily on risky odds, I consider that unwise cause no matter how rich one is you don't go wasting money all in the name of taking risks. we all know that in event where winning is a 50/50 chance one is required to bet wisely right? Then I wonder why some people would bet heavily on odds above 5 points, some would even risk all their profits to make more profits. The aim of one who wants to be successful in gambling shouldn't be to waste money in the name of taking risks, it's avoiding numerous loses and spending wisely even if you want to take risks it should be calculated risks not risking all your profits to make more profits. Stick to your limits, bet on low risk odds, take profits and don't bet all your profits one very risky odds, and most importantly bet on what you can afford to lose, these are what is expected from a gambler who wants to be successful, not taking unnecessary risks.
Everyone doesn't have the same financial capacity, there people that can take big risks and still won't feel like they have lost a big deal, To be honest it's more heart breaking when you carefully analyze a game and at the end of the day the game still goes sideways..over the years I've learnt that it's not always About calculations a lot of luck too is also involved, a friend of mine placed a bet of 1.5 Million naira on Manchester united to win man city last season, many people would call that a miscalculated risk because man city was in a better form and the odds were in favour of them considering the fact that they had home advantage but guess what, Manchester united won the game.. sometimes those miscalculated risks are worth taking |
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Like we kept discussing on other boards that Bitcoin trading or investment is not a convenient sector for an individual who does not have a source of income to invest their funds on otherwise, when they are in need of money, their Bitcoin assets becomes the only hope for them and the will be push to sell without undermining if profited or lost.
This is equivalent in gambling, we have as much discussed about gambling not being a good approach to rely on for source of income but a place to bet and gaming for funs but prettily potential to be profited if lucky to win more than the values of your stakes or even losts.
We have heard several stories of how gamblers has been financially and mentally affected at the course of addiction and loosing more than being afford simply because they are primarily aiming to make profits.
So I am trying to pick some statics to understand between the poor and the rich who gambles more for profit.
There in, I am convinced that the poor takes the lead because if we are to gamble with with is affordable to loose, the poor may actually not find the least stake of their $5 affordable to loose but yet they risks it on gambling. What for? Of course it is aimed to profit in returns and when they looses it, they goes frustrated and timely empty handed looking other means of raising as little to come back and keep trying again if they could win. Their major concern is to win and profit and never find fun as they play.
As for the riches tending to gambling for profits, even if they looses $1K + such as we have Drake has been, he actually don't feel so disappointed of the lost why? Because he has more and could afford so even while gambling for profits, they are not much financially or emotionally affected as the poor who can not afford the least lost on gambling.
Agreeably, some rich addicted gamblers do go bankrupts too but it takes processes to be drained they could loss but feels some fun expressions because they have more and could afford the lost at the moments but the poor start to feel drained at their first lost meaning gambling for profit is not a game for the poor else or even the inability to pull out when they are financially being affected.
In all, gambling without sustainabilities of income as you stick to gamble is not just a good place for anyone who is after making profit.
So since we can not make personal decisions for our fellow gamblers who had lost their prides in chasing the profits on gambling, let keep advocating for carefulness even while compromising the concept of gambling as a game of fun and not to be enriched.
I agree with you on this, 5 dollars might be a big deal to a poor gambler but it's important for every gambler to understand risk management, this rule applies to both the rich and poor, a lot of people say gambling should only be for those that are rich, I don't really agree, if a poor should engage in gambling that person should stake Ten or five percent of what he earns so it won't be a big deal if it goes sideways, being a rich gambler has some advantages one is the capability of recovering your lost funds after multiple trials which doesn't work everytime but it has a 50 percent chance of working out |
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When I am over confident I make a stupid move and the result will be losing my capital fully. This always happens to me when I am playing crash. I have now stopped playing it because of my stupidity. I would always start with low bets and after a point when I am getting decent multipliers, I would suddenly place a big bet and the next thing that happens to me is that it gets crashed. It has happened to me in so many times and later on I realized that after a certain point I tend to become overconfident. This risky approach has costed me a good amount of money and for the time being I am planning to take a break from gambling.
I think taking a break is probably the best decision to make, and I wouldn't really call it over confidence it's actually greed , my reason for saying this is because even when you were constantly making profit you weren't satisfied, I also have this experience with crash games that's why I can relate to this, I've lost a lot in crash games due to greed and trying to chase my losses... when you are trapped in that cycle of playing constantly you can never win, people always say that the only way to win gambling is to win and run away.. I'm also with you on this I've decided to take a long break |
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I started online gambling with sportbet and so far it has being a wonderful experience which I don't know if I will quit gambling when I am old or not because of the pleasure I enjoy whenever I am gambling.
I have learny how to control myself and gamble in a way that the outcome of the match does not bother me if I lose the bet because I use little amount of money that I can give out to bet. I have not win huge and the last time I won a reasonable amount of money, I used it to buy MP3 player so that whenever I am listening to music with it, I will be happy that I made proper use of my win from gambling. The punchline is that I have lost more than my wins.
I also love sports betting, when I lose it doesn't hurt me as much as casinos, not knowing if you are going to quit when you are old is quite funny to me because there's a point you would get to in life you won't really have time to do some certain things and gambling might be one of them,... is your passion and drive enough to keep you going in the game considering the fact that you said your losses outweighs your wins , I can't remember the last time I placed a bet due to this factor, do a little calculation on what you spend on sports betting at the end of every month, even if you stake low the cumulative amount will surprise you |
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Sports betting is a very passionate type of gambling. This is because some gamblers are supporters of a team or contestant before even placing bets on them. Some fans are so passionate about a club that they can risk betting on them even when they know that they lack the quality to win the game. They don't care if they win because they want to show their loyalty or support for their favorite clubs or teams.
A few days ago, two friends who were gamblers were discussing, and one of them said that he would be willing to lose a bet that would make him cash out $500 so that the club he supports could win the UEFA Champions League this season. The other one, who is also a fan of the same club, said his friend was stupid. He said he prefers to win the bet and doesn't care if the club wins the Champions League. The other diehard fan told him that he was not loyal to the club and was not worthy to be a fan.
I am also a fan of a club that I love, but I would prefer to win a $500 bet than to see them win the UCL. My loyalty doesn't supersede my quest for gambling wins. What's your view?
No matter what we do it's important to focus on getting payed, I would go with winning the bet instead of following loyalty to my favorite club, at the end of the day if you stake a high amount of money on your favorite club knowing fukly well that their opponent is might give them a tough time only puts you in loss, these players are getting paid whether they win or lose a game, you can't always get moved by loyalty, to me I consider it as being irrational, it's almost like your deliberately throwing your money away |
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Many newly wealthy individuals often feel intimidated by the perceived exclusivity and sophistication associated with high-class services
Even If you have quite a lot money it's not like that you walk in some high price Luxury place or try to buy high class product or service If you not use with high class even If you want to really spend some money and sometimes we all want to spend it "we live only once "
But that's how the Luxury services missing their profit margin of the potential clients money
As by crypto and other ways more and more average kind of people getting wealthy to afford a lot expensive things
Do you think that's the issue ?
A lot of people think they have financial intelligence when they are broke but when they have some money they tend to deviate from what they know, why does this happen?? It's because money amplifies your character and desires, I know someone who used to be broke and through out that phase he talked about business ideas he had but when he made his first millions he forgot about everything and got completely carried away by the luxurious lifestyle till he lavished everything he had..how can someone with 10 million naira try to live the lifestyle of someone that has 10 billion naira, it's crazy but this is what a lot of people do, they start living a luxurious lifestyle they aren't capable of keeping up with for even 2 years... if you can't buy anything twice or comfortably you can't afford it |
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Some people are scared of Gambling because they are afraid to loose money. Same reason why they probably don't want to start up a business or invest their money into something that might yield a fortune in the future because of the probability of failure.
Gambling is just same with delegating money in a normal enterprenural context, you keep your money idle and don't put it into something and it forever remains that way and might even suffer the effect of inflation, take a portion from it and invest it into something or place a bet with, you might lose it in a worse case scenario but the chances of winning is way much higher.
Let's not always look at gambling from a negative point of view, for me, gambling is just like I'm delegating a portion of my money into something that could yield greater returns for me and since I can do my analysis on games and it works well for me, gambling is another way of making money with money.
You want to remain stagnant? Become scared of putting your money to work for you, the reverse is literally gambling.
I disagree with the idea of delegating your money with the context of gambling, we all know that life is all about taking risks to grow, but they have to be responsible risks, like starting up a business or something lucrative, but gambling doesn't guarantee multiplication, I had a terrible experience when I was in my third year in college, I was scrolling through Twitter and I saw people flipping their money on gambling and making a lot of money, all I had was 100k which was for my fees, I had to multiply it because it was the only thing I had in my account, I finally decided to place a bet with it , to cut the long story short I lost the bet, so much for taking risks.. I don't see gambling as a means of investment although People benefit from it |
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Never. I have said it before in similar threads, predictions are useless.
I'd rather make my own predictions with the knowledge that I have, if I fail, learn from it, do better next time thus continue to improve over time and make better ones than rely on someone else.
Not all are entirely useless, all that matters is the platform you choose to use and how you decide to use their information, for example if I decide to use forebets prediction for a game and their predicted outcome for that game is 2:1 , I still do my personal analysis before I make my final decision, 2:1 gives you some options to choose from, over 1.5, over 2.5, 1x or straight win , you can select which ever option that's safer according to your statistical analysis, a lot of people make the mistake of just taking the predictions of these platforms straight up without proper research that's why they end up having too many losses |
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