Learning to Wager on Sports

[Beyond the Bets]

(09-21-2011 08:45 PM)Mr Lucky Wrote:  Don't ever chase your losses by betting on a late game just cuz it's "available". Especially if you haven't done any prior research on it before that day. If you've had a losing day, you're probably going to lose that final game if you bet it blindly. Make a list of games you might be interested in betting in for that day, then narrow it down from there to your best plays. Don't ever add any more games to that list in the evening just cuz you've had a "bad" day.

One of the great things about college football, especially for rec bettors, is that you can kind of map out your day by times. You might like two or three noon games, two 3:30 p.m. games, a 7 p.m. game and a late-night West Coast game. In all, you might have seven or eight games on the card.

Rather than betting all of them at once, try to develop a strategy for the entire day. Obviously, you'll have to deviate from it at times — especially if numbers change, or if the outcomes are positive or negative, etc. — but having some sort of plan is always a good idea.

The other thing I tell people is to focus your attention on each individual bet, and don't worry about what's in your account. It is an old, tired sports cliche, but "one day at a time" is so critical to surviving long term.

If you only win $50 in a day, take it and run.

Try to put together as many winning days as possible. Winning days become winning weeks and winning weeks become winning months. If every bet you place is a reaction to your current account balance, you're in trouble and you'll drive yourself crazy.

The ebbs and flows are inevitable. Focus on picking winners, consistently, over time, and let the rest take care of itself.