Bankroll Beats Picks

[Maslate]

If you are a real, long-term gambler, you can relate to this. Gambling is not just all about winning and assuring yourself that your profits are higher than what you've lost. But its more on managing your emotions and maintaining self-control.

A lot have lose their money not because they aren't smart enough when betting, but because its hard for them to overcome the operational challenges in gambling such as chasing losses, bankroll management, illusion of control, emotional exhaustion, and lastly, knowing when to walk away. That's why I often think incredible gamblers are not those who consistently win but those who manage to stay winning despite of the gambling traps.

[Samlucky O]

Who can relate to this?

Sometimes we don’t lose because we are bad at picking sides but we lose because we are bad at controlling our emotions.

I just want to share this from experience, there was one night where I was up big, like really lucky, and I started thinking maybe I was actually good at this. I was betting on sports and let’s say I made 10 bets, around 8 of them won. That’s like 80% win rate, so you would think I was doing good.

But the mistake came after one loss.

Instead of stopping or lowering my bet, I chased and then when that chase lost, I went all in, and of course, everything got busted.

That’s the sad part. You can win 8 out of 10 or even 8 out of 12 and still end up with nothing, just because you don’t know how to manage your bankroll and emotions. So maybe the real skill in gambling is not just picking the right side, but knowing when to stop.

You are somewhat right though, but it doesn't work the way you think. Making a parlay of 10 and 8 won and you lose 1 or 2 or perhaps out of 12 parlay you won 10 doesn't mean it's bad bankroll management, it's just that you are not lucky . In the game of sportbet no matter how hard you try to make your prediction, the chances of you losing is higher, even if you decide to bet single instead of accumulated game just to maintain a good bankroll management, your loses may still be higher than win.  Funny enough a comedian in my country once said that sportbet is so difficult that even though you predict all players to come out with their football boots to the pitch, that one player will not come to the pitch with his boot just to cut your ticket, and another one said that even if you predict 4 yellow cards in that match, that you will be suppriseed that you may not see up to 2 yellow card till the match end. That is to tell you how difficult it is to win . So bankroll management doesn't guarantee a right decision, sometimes luck do.

[Bitcoin.com97]

That is why self discipline is very good , if you are disciplined enough you won’t go above your budget , aside bankroll management, been able to control your emotions , one is one step ahead of some things , you see gambling comes a whole lot of emotions, sometimes you feel winning is very close so you began to chase it without knowing is a game and at the end lose everything, time , money even your joy ,so knowing when to stop and figuring out  that things are not going the way it’s supposed to , is a sign that one is one step ahead already.

[rdluffy]

...
Instead of stopping or lowering my bet, I chased and then when that chase lost, I went all in, and of course, everything got busted.
...

I used to think I was really good at predicting the outcomes of soccer matches, until I started betting 
The odds have a huge impact on your results
You can win 8 bets in a row, but if the odds are bad, you’ll have taken a big risk, and if you lose just one or two bets, you can end up in the red pretty quickly

In your case, though, going all in is pretty dangerous
I’ve wiped out my bankroll a few times myself by betting everything on an all-in

[riscohen4]

Well, you have a point. But if you have bankroll management and suck at picking, you'll still lose. But yours will not be instant. Over time, if you check, it would have accumulated to a massive loss. Even though bankroll management is good, you still have to be good at picking for bankroll management to be effective.
Most times, an average bettor with good bankroll management will survive longer than someone with great picks and poor discipline.”

[xenomorfo]

I used to think I was really good at predicting the outcomes of soccer matches, until I started betting 
The odds have a huge impact on your results
You can win 8 bets in a row, but if the odds are bad, you?ll have taken a big risk, and if you lose just one or two bets, you can end up in the red pretty quickly

In your case, though, going all in is pretty dangerous
I?ve wiped out my bankroll a few times myself by betting everything on an all-in

True, sometimes you think you're good at something, in theory, and then you clash with reality, with the global world.
I remember that when i was little i also thought that only i had my surname, it was a shock to discover that other people could have the same surname as me and not be my relatives!

[Dr.Bitcoin_Strange]

Bankroll management is important for someone that chooses responsible gambling habit over being compulsive, someone can be up with too many wins just like yourself but just one bad lose with a careless bankroll can cause your all your wins, I have said it before. Pride is what makes some person to start feeling that they are now unbeatable and so they can win all through that day but they forget that there is every chance of losing their bet no matter how true the game is.

[Alex077]

Sometimes we don’t lose because we are bad at picking sides but we lose because we are bad at controlling our emotions.

I just want to share this from experience, there was one night where I was up big, like really lucky, and I started thinking maybe I was actually good at this. I was betting on sports and let’s say I made 10 bets, around 8 of them won. That’s like 80% win rate, so you would think I was doing good.

But the mistake came after one loss.
Instead of stopping or lowering my bet, I chased and then when that chase lost, I went all in, and of course, everything got busted.

I really think that you hit the nail on the head here, because this is honestly one of the biggest problems in gambling. A lot of people don’t lose because of bad analysis or poor picks, but because they lose control of their emotions after wins or losses.

And in your example, winning streaks can actually become even more dangerous than losing streaks. Their confidence immediately starts growing, and along with it, the size of their bets. At that point, logic, discipline, and strategy slowly move into the background while emotions begin making the decisions instead.

The problem is that sometimes even a single loss is enough to completely wipe out the results of several hours or even days of successful betting, especially once the urge to quickly win everything back kicks in. And in most cases, it’s those emotions that destroy the bankroll — not the individual losing bets themselves.

[rachael9385]

Bankroll management and risk management are very important when it comes to reducing the risks of gambling and not eliminating the risks because that's not really possible. The rules isn't just about knowing how to fight only because there are lots of people that are breaking the rules. It is important that when getting involved in such competition to be in control of your emotions to avoid falling for traps.

[Agbe]

but knowing when to stop.

This has been the key to success in gambling. And failure to do that can ruin the whole happiness of the gambling journey of the day. There was a day I was playing a new casino game I discovered. And I was really doing well. I won and withdrew the winning and you know once a gambler won and withdraw from a particular game, that game would become his best and favorite. The next day I deposited to it again and started playing. Boom 💥, I won again and withdraw. After.one week. I deposited again with higher amount to win this time. Low and below, I lost everything. So what you are saying is the truth.

[X-ray]

That's why i put it on my mind to never chase the win. No matter how big your bankroll used to bet, the percentage to win will always the same, but we can get bigger amount when we're winning. However, we can also lose more too.

It's the reason i never ever double my money even when i was winning. I always go with the same % of bankroll because i get the same chance to win whether we use big or small bankroll.

I also called doubling our bankroll as a chaos strategy. It's fine you double your bankroll if it's an investment opportunity. yet sadly gamble ain't investment opportunity.

[Mhizlove]

Bankroll management and risk management are very important when it comes to reducing the risks of gambling and not eliminating the risks because that's not really possible. The rules isn't just about knowing how to fight only because there are lots of people that are breaking the rules. It is important that when getting involved in such competition to be in control of your emotions to avoid falling for traps.

True because gambling risk can't just disappear completely, but self discipline can help reduce unnecessary pressure or damage. See most people don't just lose because they don't have knowledge about the game, but because they let their emotions take over them, because once desperation, anger and greed comes in, you will start going after losses and ignore the limits. That's why the bankroll is very important as you said because it helps someone to stay controlled instead of gambling with frustration or press

[Cryptomultiplier]

but knowing when to stop.

This has been the key to success in gambling. And failure to do that can ruin the whole happiness of the gambling journey of the day. There was a day I was playing a new casino game I discovered. And I was really doing well. I won and withdrew the winning and you know once a gambler won and withdraw from a particular game, that game would become his best and favorite. The next day I deposited to it again and started playing. Boom 💥, I won again and withdraw. After.one week. I deposited again with higher amount to win this time. Low and below, I lost everything. So what you are saying is the truth.

In your case at least you were smart to withdraw some of your profits and didn't chase losses in one day as compared to what OP did, which actually shows a lack of discipline.

I keep hammering that someone who is not faithful in little personal and more private task like completing the exercise reps for the day, taking out the trash at the exact time, and other menial task, cannot be successful at gambling activities because there isn't any discipline of responsibility that ticks the box.

If there's discipline, the natural control over emotions and bankroll would be there because as the last line in the post read, it is knowing when to stop that is the key to being a successful gambler.

[Akbarkoe]

Who can relate to this?

Sometimes we don’t lose because we are bad at picking sides but we lose because we are bad at controlling our emotions.

I just want to share this from experience, there was one night where I was up big, like really lucky, and I started thinking maybe I was actually good at this. I was betting on sports and let’s say I made 10 bets, around 8 of them won. That’s like 80% win rate, so you would think I was doing good.

But the mistake came after one loss.

Instead of stopping or lowering my bet, I chased and then when that chase lost, I went all in, and of course, everything got busted.

That’s the sad part. You can win 8 out of 10 or even 8 out of 12 and still end up with nothing, just because you don’t know how to manage your bankroll and emotions. So maybe the real skill in gambling is not just picking the right side, but knowing when to stop.

I really like your last sentence of all what you said, But know when to stop, this is a sentence that means a lot in gambling, no matter how good we are at betting if we are not able to stop it will end in defeat which will make us get nothing from there, I admit that managing to get 8 wins out of ten is a great thing, it is very rare to be able to finish winning by bettors, whether it's overconfidence or greed that can make us not easily stop until we lose everything, that's the lesson that must be taken from your story.

[Pandu Geddon]

That’s the sad part. You can win 8 out of 10 or even 8 out of 12 and still end up with nothing, just because you don’t know how to manage your bankroll and emotions. So maybe the real skill in gambling is not just picking the right side, but knowing when to stop.

It is a reality that I am sure not only you have experienced. When we win with quite a lot of bets, it makes us feel like the luckiest person. But the worldly nature of being dissatisfied with what we already have makes us look for another, bigger win. After losing everything, we will only realize that we actually did not enjoy anything we had won, but instead lost everything.

[Agbe]

In your case at least you were smart to withdraw some of your profits and didn't chase losses in one day as compared to what OP did

I am not a greedy gambler. If I am losing a casino game and I loss twice in a row, I would just stop gambling of the day and come back in another day and once I win twice and the amount is withdrawable, I will not hesitate to do that. I will withdraw the funds and leave only 2% to try another and I will not play in that day because once I tried, I would loss all again so I have to rest.

[mcdouglasx]

That's the most important part of betting: never take your luck for granted and know that the next bet is independent of the previous ones. If we internalize this, it's very difficult to lose all our money after a winning streak. The mistake, as you rightly say, comes when you see a winning streak and think it's your lucky day, or that you're already an expert, or that your strategy is simply working. Then, you resort to making more bets, involving more money, and that's when you increase your risk of loss. And if you don't control it, you can end up losing everything and even more than expected.

[Slow death]

As you rightly said, good bankroll management is very important in sports betting. But it's also very important to understand that you should place the same amount of money on each bet and choose games with good odds, something like games with odds of @1.70 or higher. When you bet on games with low odds, like @1.50, even if you win 8 games and lose 2, you'll have little profit, and if you lose more games, you'll be at a loss. It will only get worse if you have 8 wins.

But then, in game 9, you put more money and lose, which is the mistake you made. That's why I do parlays when I see 2 or 4 very good games with a good probability of winning, because with odds of @3.00 in a parlay, when I win 2 or 3 parlays, I have a profit that allows me to lose even if I lose 3 or even 5 consecutive games.

[KiaKia]

OP got deceived by his own mind, just like many gamblers out in the world, you are not good at anything, it's easier to feel like you are a better gambler because you are winning.

I thought this was something that newbies and beginners who are new to gambling needs to battle with but it also happens to those who are old gamblers.

Do not train your mind to make ways for a win because you are not helping yourselves in any way, gambling is not something that you need meditation on, not even a strategy can make things go right, it's better to stay neutral.

[Agbamoni]

Who can relate to this?

Sometimes we don’t lose because we are bad at picking sides but we lose because we are bad at controlling our emotions.

Loss is loss, whether we lost through lack of emotional control or a wrong pick. Some people, because of greed, some cause of lack of discipline or poor emotional control, while some lose because they keep chasing losses only to end up losing more. There will always be a reason why people lose in gambling. No matter. No matter the strategy and the level of experince one has, gambling is risky, which is the reason the house will always have an edge over the players.