Lost all my money, what now? I need help

Bro, I just went through this. I made $1,500 from a local bookie, and I couldn't stop. I continued to bet big and lost it all on a couple bad plays. 

Not true style genius

The amount that is too much has little to do with continuing to gamble or not.  Money management is very important in gambling, and if a certain amount is too much for you to lose.......you should never get to that point.  If you can't do that, then maybe you should stop 

Thanks for the replies.. Gonna make a small deposit, and start working on my bank roll management. <3

This has happened to me a few times. Every time it happened, the SAME thing caused it. Unless you want to completely get out of this game, NEVER bet it all. As it has been said by many here, MONEY MANAGEMENT is paramount. I think just as important as that is DISCIPLINE. You will not get rich at this hobby overnight. It just doesn't happen, and if you think it does, you will never win - consistently. I've finally settled down, found several people out here that I follow, do my research, place my bet, and hold on

I've been wagering on sports 4 30+ yrs....and the most sound advices has come from the last 2 post masterkush & Eddie D, and remember it's not a sprint is a marathon. there will be 3000+ options everyday 4 the rest of your life,

BL my friend.......

 

chances make champions.. steal ur moms credit card and put it all on Denver tonight.

I lost a huge sum of money binary option trading, and was able to have my funds recovered, thanks to a recovery expert. I am glad to share my experience with the company, and the means I used to have my funds recovered. you can reach me at merylgarner67@gmail.com

Pro's bet .5% or 1% max on any play... That wont work for recreational gamblers as .5% or 1% of $500 or $1000 would be $5 or $10 lol. So your story is very common, you win some then raise your bets and end up losing... Telling you to bet 1% is unrealistic with small bankrolls but atleast limit yourself to 20% in any one given day, and dont play more than 2-3 plays per day. Your probably not going to do this for a living unless you have 500K plus bankroll and great MM skills even then it will be super tough, so just try to have fun and not go broke by putting too much at risk any given day... Even the best will go on 2-8 streaks or even 6-7 losers i a row.. The supercontest champ from 2 years ago, and he got 3rd lastyear he is like 3-12 his last 15 if he had 10% bankroll on each he would be near broke... The easiest thing is picking the winners, the hardest in managing your bankroll properly.

Stop gambling.

You can hit 60% and be broke.

YOU MUST HAVE A SELF PRESERVATION MODE IN DRAWDOWNS until recover and hit your peak equity again(hopefully(..
RE-read that 1000x if necessary.



A technique I have used and has proven itself many,many times over at black jack and really is applicable to forms of "50/50" betting odds is shown below.

 First, I will tell you that it came from a chart in a blackjack book written by Lance Humble PHD. The chart showed what the - compounding rate of roughly 2% against you played over 1000's of hands would like with 99.999999% probability guarantee that the gambler will go bust against the house.

Your best odds of doubling your money is of course 1 bet because there is no compounding to work against you. Vegas hates big money 1 bet "plungers". The problem with 1 bet is of course being wrong with no chance of recovery without refunding your account.

Somewhere along the compounding curve(which was done with the same amount bet each time) is an optimum spot which I determined to be around 5. At 1/5th your bankroll bet the compounding odds against you arent that high.

 Say you have 100 dollars this would be a $20 bet. If you lose 5 straight times you bust. I added a ratchet back rule in case you lose the 1st hand you don't go into a speedy 5 straight bust and it will take persistent cards or odds against you to get you to bust.

Example(s)- things going good :

$100 bankroll- opening bet 20. Result win Then you can start a progression because you are on THEIR money or flat rate bet 20 and hope to get a +5 wins to double your money.

 Many different forms of progressions around but I have used this: 1 unit - 2 unit - 2 unit. See what happen there is that you have cleared 5 units and have doubled your money. The weak point on this type of progression is at your  2nd bet of 2 units because if you lose you would be done 1 unit. It could be a conservative 1-1-2-3-5.....
because at nowhere in the progression could you come out behind.

If you happen to double your bankroll and hit 200 dollars then change your bet size to $40 (200/5)


example- things going wrong right from the start:

20 dollar bet which you lose. Now you MUST go in self preservation mode and ratchet back your bet size until we get back to 100 dollars again(hopefully) and then you would increase it to 20 again.

Except now we are down 20 dollars and really only want to double that 20 to get even so the bet size would be 20/5 is 4 dollars.

You can still run a progression even though you are down if you want or just flat rate bet 4 dollars 5x. If you keep spiraling down then you need to adjust your bet size again to stay "adaptive" to a 5:1 ratio.

Using this adaptive 5:1 bet resizing approach can really clip a casino when you are hot and keep you playing for a long time if it wasnt your day.....

At least 95% of gamblers are losers

bet small, and also you have too take the teams sometimes that just look like a bad bets aka underdogs, i took ohio +3.5 and i am liking the cards tomorrow hoping too get it too +7, but u never know how these games, another strategy i like doing is just wait for live bets thats where i make a lot of my bets, unless i really like a number, i think i might take lakers 2nd half maybe

stop handicapping and betting on over/unders. don't push yourself, man!

play just here and there for awhile

2015 thread lol

If you enjoy betting it is OK to keep betting, but you need to take time off. At least a month, maybe even a year. Learn from this and bet more responsibly in the future. Never bet more than you can afford to lose and never bet money that you do not have (Credit Cards)

Look for sportsbooks that accept credit cards.  It is illegal to fund a casino or sports account with a credit card, but a few sportsbooks use fake businesses as a front. The charge that appears on your statement is something like: "Textile and Furnishing Sevices" which has nothing to do with where the money is actually going.  Your credit card statement will never say: "Bet365 casino financial."  CREDIT CARD companies do not supply funds for gambling purposes, it is restricted.

This thread is from 2015, why the f&ck are people replying like this happen today.

WTF......some thread Pops up from over 2 years ago and people start trying to respond and help this guy that is not even involved in the current discussion.