- Banned
- #1
Loss chasing??
Surely he can't be serious? I am serious, and don't call me Shirley.
Loss chasing in gambling is abhorred by all those who know what they are talking about, and rightly so. It is a terrible way to bet, that can only lead to ruin. You get some wins along the way, but eventually a losing streak will come along that will wipe out all those wins.
For those who don't understand it, here's an example:
- You set out to win $500, profit, on a given day, betting on red on the roulette wheel at the casino. Odds $2.00 (1/1).
- Your first bet is $500, which if it wins, returns you a profit of $500. If red is the winner, you've made your money, you're on your way.
- If red loses, you now need to make $1000 profit on your next bet, which is your original $500 you wanted, + the $500 you've lost. So, your next bet is $1000. If it wins, you've got your profit, go home.
- If it loses again, your next bet is $2000 (500 + 500 + 1000). If it loses, next bet is $4000. If it loses, next is $8000, and so on.
The theory is that eventually you'll strike a winner, get your $500 profit, and you're on your way. That's the theory. It works, so long as you find a winner and have a BIG bank to use, to cover a decent losing run. The problem is, as stated above, eventually a big enough losing run will come to wipe you out.
Mathematically, it's a horrible way of betting, one I've always advised mates who have attempted to employ it, not to do so. It's a really good way to lose a lot of money. No one should EVER, EVER, under ANY circumstances, bet this way.
So, having said all that, I am going to give it a go. Call it Aussie Spirit. Call it good old Gamblor madness! I am going to do it, each week, on the footy. I am going to try to make $500 each week, finding value bets. I'll start in the first game, if it doesn't win, move on to the next game, and so on. If I don't get a winner up over the weekend, then, well... I guess I'll write that off as loss and start again the next week... or what's more likely I'll abandon the idea entirely!
However, I am hoping to make my $500 each week for the rest of the year. Let's see how it goes.
Will post back later with first game Gamblor ACTION!!
Surely he can't be serious? I am serious, and don't call me Shirley.
Loss chasing in gambling is abhorred by all those who know what they are talking about, and rightly so. It is a terrible way to bet, that can only lead to ruin. You get some wins along the way, but eventually a losing streak will come along that will wipe out all those wins.
For those who don't understand it, here's an example:
- You set out to win $500, profit, on a given day, betting on red on the roulette wheel at the casino. Odds $2.00 (1/1).
- Your first bet is $500, which if it wins, returns you a profit of $500. If red is the winner, you've made your money, you're on your way.
- If red loses, you now need to make $1000 profit on your next bet, which is your original $500 you wanted, + the $500 you've lost. So, your next bet is $1000. If it wins, you've got your profit, go home.
- If it loses again, your next bet is $2000 (500 + 500 + 1000). If it loses, next bet is $4000. If it loses, next is $8000, and so on.
The theory is that eventually you'll strike a winner, get your $500 profit, and you're on your way. That's the theory. It works, so long as you find a winner and have a BIG bank to use, to cover a decent losing run. The problem is, as stated above, eventually a big enough losing run will come to wipe you out.
Mathematically, it's a horrible way of betting, one I've always advised mates who have attempted to employ it, not to do so. It's a really good way to lose a lot of money. No one should EVER, EVER, under ANY circumstances, bet this way.
So, having said all that, I am going to give it a go. Call it Aussie Spirit. Call it good old Gamblor madness! I am going to do it, each week, on the footy. I am going to try to make $500 each week, finding value bets. I'll start in the first game, if it doesn't win, move on to the next game, and so on. If I don't get a winner up over the weekend, then, well... I guess I'll write that off as loss and start again the next week... or what's more likely I'll abandon the idea entirely!
However, I am hoping to make my $500 each week for the rest of the year. Let's see how it goes.
Will post back later with first game Gamblor ACTION!!
