Don't conclude yet you are a loser, until you...

[Natalim]

In sports betting, this is actually where I lose most of my money, I just realized it recently, or let's say I finally admitted that one of my biggest weaknesses and the reason why I can't win consistently is because of poor bankroll management. So don't conclude that you cannot win if you haven't learned proper bankroll management yet.

Let me ask you guys, have you ever experienced winning most of your bets but ended up losing money because you got greedy, so for example out of 10 games you win 6 of them and still lose in the end, and you conclude that you lost because it's really hard to win in sports betting but what we don't realize is that if we manage our bankroll correctly that 60% win rate could result in profit as we only need around 52.4% to break even at 1.91 odds.

I know it's boring when we talk about numbers but without a specific strategy we cannot expect to win consistently.

So this is all I can say, don't give up yet, don't conclude that you cannot win until you have practiced proper bankroll management.

I know there are lots of topics about bankroll management but bear with the context of my post, those who can share their real experiences and can relate are appreciated.

[qwertyup23]

Happened to me several times in the past because I had this false sense of belief that I would win most of my games in the whole process. Unfortunately, all my winnings became fodders of my bets given that I thought I can recover my losses by betting once again.

This creates an endless cycle of me, betting in order to recover my losses. However the reality is that you would just lose majority or even all of your profit if you chase your losses consistently.

As a lesson to everyone: accept defeat and move on. If you have already profited from your games, then do your best to stop and call it a day. If you lost your games, accept and move on. The more you chase your losses, it will quickly snowball into a bigger loss than what you could've expected.

[Don Pedro Dinero]

What usually happens is that, instead of using the same stake size for every bet, if you win two or three bets, you feel you’re on a winning streak, you get overconfident and increase your stake. If you then lose, this explains why, despite winning more bets overall, you end up making a loss – because you’d staked more on the bets you lost. You should always bet the same amount until your bankroll has grown enough to allow you to increase your stake size. The psychological aspect is also important, as qwertyup23 points out. Chasing your losses can lead to disastrous sessions.

[SukunE]

What usually happens is that, instead of using the same stake size for every bet, if you win two or three bets, you feel you’re on a winning streak, you get overconfident and increase your stake. If you then lose, this explains why, despite winning more bets overall, you end up making a loss – because you’d staked more on the bets you lost. You should always bet the same amount until your bankroll has grown enough to allow you to increase your stake size. The psychological aspect is also important, as qwertyup23 points out. Chasing your losses can lead to disastrous sessions.

Yes, two things happen here after a few consecutive wins, individuals may start to view themselves as highly skilled; conversely, following a loss, they may struggle to control their emotions. As a result, they place bets under the assumption that a single win will be enough to recover all their previous losses. These tendencies deplete all their funds, leaving them despondent—a situation that subsequently leads to further losses.

[Japinat]

What usually happens is that, instead of using the same stake size for every bet, if you win two or three bets, you feel you’re on a winning streak, you get overconfident and increase your stake. If you then lose, this explains why, despite winning more bets overall, you end up making a loss – because you’d staked more on the bets you lost. You should always bet the same amount until your bankroll has grown enough to allow you to increase your stake size. The psychological aspect is also important, as qwertyup23 points out. Chasing your losses can lead to disastrous sessions.

That kind of approach shows you are being emotional, that's why you end up losing. So the solution is disciplined bankroll management, because based on what I've read, having 2% or even 1% of your bankroll per stake is the most advisable since even if you experience a long losing streak, you will not feel too emotional because you still have a big portion of your bankroll left.

And another problem is if you don't have a big bankroll while aiming for a big win, so in that aspect you need to be realistic, if you aim to win $1000 in the long term at least you should be able to provide a bankroll of $1000. As a regular bettor, making 100% profit on your bankroll even in a year is already a big success, as long as you are consistent.

[cryptomaniac_xxx]

I know there are lots of topics about bankroll management but bear with the context of my post, those who can share their real experiences and can relate are appreciated.

Yes, and thru experienced though that gamblers might have to learn on proper bankroll management. And we can also add to that what kind of games you are playing. Maybe in sports betting, you might still have some control of how small or big your bets is going to be. There are times that we will only bet 1 games per day, and so our bankroll can stretch and we can manage it better.

But let's see it is luck base games, then that's where that emotions comes in and we should control of it. If we lose everything in one setting playing our favorite slot games then so be it and call it a night and maybe reset and play on the next coming days.

[Somegory]

In sports betting, this is actually where I lose most of my money, I just realized it recently, or let's say I finally admitted that one of my biggest weaknesses and the reason why I can't win consistently is because of poor bankroll management. So don't conclude that you cannot win if you haven't learned proper bankroll management yet.

Let me ask you guys, have you ever experienced winning most of your bets but ended up losing money because you got greedy, so for example out of 10 games you win 6 of them and still lose in the end, and you conclude that you lost because it's really hard to win in sports betting but what we don't realize is that if we manage our bankroll correctly that 60% win rate could result in profit as we only need around 52.4% to break even at 1.91 odds.

I know it's boring when we talk about numbers but without a specific strategy we cannot expect to win consistently.

So this is all I can say, don't give up yet, don't conclude that you cannot win until you have practiced proper bankroll management.

I know there are lots of topics about bankroll management but bear with the context of my post, those who can share their real experiences and can relate are appreciated.

You lose money because you are gambling, you are not a god from the future or Odin.
And yes you lost a lot of money because of mismanagement.

You risked what you can't afford to lose and that's where you are really at fault, everyone who gambles must lose money because that's what gambling is all about, you trying to predict the future means one thing only, that you will likely lose your money more.

When it comes to prediction I always engage with the lowest money I have, because normally the odds are against me obviously, the only thing I got to do for myself is protect my fund

[Loyang]

I have never faced such a problem in sports betting or casino. Because I had learned management long ago. Although it was a long time ago but I clearly remember how I could not protect myself from facing losses in any way. A long time ago I was involved in trading and I would win but I would become aggressive after some time. If I lost I would also become aggressive and if I won I would become aggressive. Then I noticed this matter. I discussed this matter with some of my acquaintances then they understood me very well and at that moment I refrained from doing many trading and would sit and watch Shudu Chat and thus increased my patience. After that time I have not faced such a problem since then.