Bankroll Beats Picks

[freedomgo]

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.

[Karl_3000]

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.

We're you going all in before? It is a bad gambling strategy. But there are people that use little amount of money to gamble, they can get bored sometimes and go all in and lose. This has happened to me before very well, it happened when I kept winning also. But I was not sad when I lost the money because I lost all does not mean I was not able to afford to lose the money.

[SamReomo]

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.

Never gamble with emotions because you'll always have a sad end. The ones who can control their emotions and never go all in are the ones who withdraw money. Those who get affected by greed will never take anything but losses only. So next time it's better to set a fix value for each bet and try to win more bets instead of going all in.

[Finestream]

That's actually the biggest challenge when gambling. Sometimes, its easier for us to hit a good win because luck is within us, but what makes it so hard is to finally stop betting after a winning or losing streak.  Instead of being about the money, now its driven by the thrill of uncertainty and our desperate desire to win more or win back our previous losses.

In the end, the inability to stop betting boils down to create a more dangerous scenario or outcome. Here, you are no longer betting to acquire bigger amount, but indirectly, you are now betting to return back all your winnings to the casino.

[alegotardo]

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.

Yes, that is the mistake most bettors make... sometimes those who consider themselves veterans in betting believe there is only one rule for success: do not bet more than you are willing to lose.
But there is another one too (among many): knowing when to stop, even when you are winning.

What do I mean by that? That when you make a profit, you need to realize the winnings! You need to accept the amount you won and withdraw it instead of rebetting.

I think every bettor should have two limits: how much they are willing to lose and how much they want to win... if you reach your loss target you stop, if you reach your winning target you withdraw and reinvest a maximum of 20% to continue having fun, and set new goals.

Otherwise, you always run the risk of losing everything again.

[Darker45]

Perhaps the particular kind of danger with chasing bets in sports betting is that they're mostly impulsive bets. If the same depth and amount of analysis were exerted with those succeeding bets after your loss, perhaps the results would have been different?

Anyway, as has been discussed many times, it's always self-discipline and self-control that are the main factors in gambling. Luck doesn't last. Predictions aren't always accurate. Knowing when to stop and how much to bet are more important.

[Don Pedro Dinero]

Who can relate to this?

Not me.

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.

Unfortunately, the behaviour you describe is more common than we would like. What’s more, it doesn’t just happen to winners. Some people also increase their stake after losing in an attempt to recoup their losses.

Rather than bankroll management, I think it’s more a matter of failing to control your emotions. It’s no use telling yourself you have to manage your bankroll if, when the time comes, you can’t control yourself and end up increasing your stake again – whether because you’ve won and think you’re on a winning streak, or because you’ve lost and are trying to chase your losses.

[Cityhunter34]

The easiest way to avoid losing too much in gambling is knowing when to stop and call it a day. I know it's not easy to stop when you're in a winning streak, but don't tell yourself "I can do better." That's usually when mistake start. This happens to a lot of gamblers. They get carried away trying to double their money, and before they know it, everything turns against them. Going all in is never advisable, no matter how you feel. There's no guarantee of winning in gambling.

[TedMosby]

This is happening to me recently. But not about sports betting, but in trading. Yeah trading, but the one who trades is not me, but my bot, so I count it as gambling. I have a very high win rate. My bot is trading futures, my initial capital is just $50 for testing, $5-10 per trade with a win rate of 77%. But you know what, with that win rate, I am still in loss. Not much, only $0.5.



This is just another example of good picks with bad bankroll management. A good picker with bad bankroll management can still go broke. We should be able to control ourselves to manage our bankroll well, have a wiser risk-to-reward ratio, and know when to stop because one bad session can wipe out many good sessions. We should set our target first and stay strictly consistent with that, for example by the amount of money won or lost.

[viljy]

Being able to stop after winning is no less important than being able to stop and not try to win back the money. You can call it self-control or strength of character, or something else. The bottom line is that a person subordinates his greed to reasonable behavior. Greed is an instinct, an emotion. Instinct is not capable of "understanding", and therefore must be controlled by reason. Well, that's how I would justify it. Of course, this is easier said than done, but you need to try to control yourself.

[Cointxz]

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.

A nice realization based on your experience that’s why I always consider bankroll management as vital strategy to stay on gambling without inflicting severe loses and at the same time gamble within the safe range.

It’s true that everything that you win even how lucky you are is useless if you will still put everything at risk on your bet without having limits either stop loss or take profit.

Always withdraw your bankroll whenever you already experience a decent win and confident that you have high chance of winning to avoid this mistake. Remember that casino wants player to play longer because they have a guaranteed win in the long run due to house edge.

[Curious T]

I can relate to this. There are times when I would be coming very close to winning, then after a couple bets, I starts winning. When I look at how close to winning I came in the games I lost and loo at the games I'm winning a voice will pop up in my head, "i'm actually good at this" 
There have not been many times when I have lost it all after wining, but there many times I would lose part of the winning before coming back to my senses that I was just lucky. Now, no matter how much I win, I always try to curb my overconfidence because i know I can lose it all before I know it. Knowing when to stop when you're losing and knowing when to stop when you're winning are very important things to know about gambling. 

[ZeroVinsonN]

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.

Knowing when to stop has always been the saving grace for a lot of gamblers, you can pick what ever team you want but there is no way for you to guarantee that they will win, with slot games even more so, instead of trying to make yourself some master at picking out the right gambling to make you should build your resistance to the urge to keep gambling I'm even after exhausting your bankroll, if you can control when you stop then you might be able to save yourself from from losing it all and from addiction.

[swogerino]

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.

That is the same thing as in slot machines. I am making an analogy here as when we win big in slots like you say here very big substantial wins we tend to raise our bet thinking maybe it is our lucky moment and as soon as we raise the bet it is the fastest route to ending your balance completely. In sports is the same only there you fool yourself telling that you are an expert and very good at this so you keep doing the same, raise the bet thinking you will repeat your success when in fact this as I said is the fastest route to failure.

[TopT3ns]

That is the same thing as in slot machines. I am making an analogy here as when we win big in slots like you say here very big substantial wins we tend to raise our bet thinking maybe it is our lucky moment and as soon as we raise the bet it is the fastest route to ending your balance completely. In sports is the same only there you fool yourself telling that you are an expert and very good at this so you keep doing the same, raise the bet thinking you will repeat your success when in fact this as I said is the fastest route to failure.

Awareness of the fact that the most direct road to bankruptcy frequently starts with a large unexpected windfall is psychologically mighty. It is then an irony that the last thing that may occur in a player is winning since it compromises their risk treatment. This realistic and cool attitude will save you all those emotional traps there are in the gambling industry.

[Dave1]

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 think almost everyone can relate to that story. And we think that we are in control of everything, that illusion. But we don't know that sooner or later everything will caught on us as there are laws of averages and house edge.

So it's really better to control our emotions, not just in winning but it losing as well. I mean if you see that you're losing to much money in one sitting, then you should at least stop yourself and not think that you will recover it. Just let it go and fight another day.

[Sim_card]

That's what self control is all about because it saves you from your greedy nature. Majority of gamblers don't appreciate the little profits luck gave them and think it was by their own doing which led to making those profits. This has happened to me several times before I learned a hard lesson. I take whatever profit I win and stop gambling instantly. Looking for more will lead to more losses.

[liasbaa]

You are right. The reason why gamblers lose is not because they are incompetent or even because they gamble for money. There are many gamblers who win enough as happened in your case but they cannot be honest with themselves. Many win in sports betting like you but most gamblers cannot control their emotions because they need to win more. Gambling is designed to make you keep playing and it is a kind of addiction. Gamblers who cannot control their emotions tend to lose more.

Gamblers who cannot stop playing at the right time tend to lose more and more and that is correct. This happened to me but in the end I could not go home with the satisfaction of winning but the day I was able to control myself I was able to go home with win.

[joeperry]

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 definitely can relate to this one, there are time where I am up to $300 when I started at $60 and ended up busting everything because I'm trying to win back at least half of my main winnings but later on I realized that it's too risky that's why whenever I managed to have at least $200 I always withdraw my winning and start again with my base deposit and everything goes south, you really need to control your emotion not to deposit back again and accept your losses. Sometimes, we really get bitter and can't accept the fact that we lose and that's what really harm us.

[Coyster]

I am sure we have talked about this so many times, it is basically bankroll management. If you don't know how to manage your bankroll, then you would be running out of funds very fast and prolly depositing more than you should.

Chasing losses is also something that no gambler should do. If you lose many games in quick succession, take your losses and log out, attempting to get what you have lost could end up in you entirely blowing up your bankroll. These are tiny details every gambler ought to know, so gambling doesn't become a problem to them.