Sunday, November 16, 2003

Wagering

My wagering so far today is making me think I better stay back here behind the counter slinging hash.

I'm 1-6 against the point spread so far this morning in my gambling endeavor. I'm hoping the Seahawks, Vikes and Cowboys can get me back to even money. I took the Cowboys +4.5 over the Pats for 7 units on the late came today.

I'm going to rescind my recommendation that you start wagering. It's not for the feint of heart, or undisciplined or idiotic...which pretty much describes all of us at some time. If you decide to jump in I have a few recommendations.

Never bet more than you can afford to lose and be happy. That's the whole point right? To do things that we find satisfying. It's pretty easy to lose sight of the good part of sports if you get wrapped around the point spread.

Bet about 1% of your bankroll (that's a unit in my world). If you want to make 100 dollar bets you need a 10K bankroll. 10 dollar bets a 1K bankroll, 1 dollar bets a 100 dollar bankroll and 1 cent bets require a dollar bankroll. The bankroll should be money you don't care about ie. not for food, clothes, beer, education or anything else you find important in your life.

Make a lot of bets. That way you don't care if you lose a few. It's also mathmatically sensible if you read into this a bit. Just do it for fun and if you don't like it stop.

There are some definite down sides for people who tend to be obsessive or have a tendency to addictive behaviour. Plus if your bankroll doesn't grow it's a pretty safe bet your butt will from all the sitting around.

One last thing that made sense to me is that you need to have a desire to win. This sounds kind of silly but if you read or listen to a fair number of people they get off on losing....maybe they like blaming others or just have some sort of masochistic streak where they can find a lot of comiserate souls in the gambling community.

I'm sure I'll change my point of view on this as I age. I hope so anyway. If we never change how can we grow?