Lost money gambling

What's your story with betting? Were you the guy who posted about statistical significance?

indeed I was

Im happy if I can take £20,000 - £25,000 a year....thats my expectations... I was happy with close to £16,000 last year.

I would never play poker for money other than just for fun online $10/20 once in a while. Just doesn't appeal to me....Im a member of Chinawhite, I pay £400 a year for, member of Roof Gardens,lol.....thats another point you can make money off the membership you can bring 3 guests in with you, just charge your friends, you skip the queue....

well if you can do it then fair play to you!!

But for the fact that bookmakers exist to make money means that you seriously have to have an edge over them, which in my experience of working in the industry and of mathematics is pretty hard to attain.

Unless you are laying?


I would be interested to see a profit/time graph because otherwise you are just talking about numbers which nobody can back up! I could say that I have made $100k profit on poker, would you believe me?

They were great posts, you clearly know what you are talking about. I wouldn't bother analysing someone's picks until I had 1,000 of them.

Always willing to listen and learn to others, if i could gain a further edge and earn another £1 on top. I am all ears open, same as probably anyone in here. Of course I lay some bets, like I told you about the Louisville situation.....sitting here with my slip....still have a few hours before i make the final decision. If sit here uploading screenshots of every bet we could be hear for days. Ive already shown like £500 of cricket there from the £1000 i got back from the £450 or so outlay.....once an events finished i don't think about it ever again.....I don't live in the past, otherwise your going to be chasing loses. The best thing to do after a loss is to focus your mind on something else! Don't chase....

Always willing to listen and learn to others, if i could gain a further edge and earn another £1 on top. I am all ears open, same as probably anyone in here. Of course I lay some bets, like I told you about the Louisville situation.....sitting here with my slip....still have a few hours before i make the final decision. If sit here uploading screenshots of every bet we could be hear for days. Ive already shown like £500 of cricket there from the £1000 i got back from the £450 or so outlay.....once an events finished i don't think about it ever again.....I don't live in the past, otherwise your going to be chasing loses. The best thing to do after a loss is to focus your mind on something else! Don't chase....

well if you are laying and hedging etc then fair play.

I just thought you were betting on the nose tbh.

Let me know when you have betted on the basketball. And who on.

and heres me thinking you were about to attack me! lol.


Well, I think every gambler has some form of delusion and the point at which you become profitable is the point where you can look on your bets critically and make a judgement. It just so happens that statistical tests can make that for you.

I really like the idea of making money against bookies. I have no desire to make money though. If I did i'd be with my mates in manchester playing poker 60 hours a week and earning 100k+ a year (or something like that haha).

is laying the same as cashing in?

Absolutely. While I can't claim to have done advanced statistical tests, I just need to know I'm finding value and I can safely say I have done so over 25,000 bets. That's actually quite scary now that I think about it.

I'm really struggling to get bets on at the moment, so have been looking at investing in tipsters so I can bet on sites that don't ban winners. This would involve betting on sports I know nothing about and I hate the idea of that. I don't think I'm going to go ahead with it, but there are 3 or 4 out there with <1% chance of having made profit by luck.

I didn't think you layed bets tbh....

not enough statistical insignificance for you

I didn't think you layed bets tbh....

not enough statistical insignificance for you

Absolutely. While I can't claim to have done advanced statistical tests, I just need to know I'm finding value and I can safely say I have done so over 25,000 bets. That's actually quite scary now that I think about it.

I'm really struggling to get bets on at the moment, so have been looking at investing in tipsters so I can bet on sites that don't ban winners. This would involve betting on sports I know nothing about and I hate the idea of that. I don't think I'm going to go ahead with it, but there are 3 or 4 out there with <1% chance of having made profit by luck.

we need a bigger bankroll to be bigger players....

I tend to hedge/cash in, gaining 1 quid is better then losing 20.

Its the only reason why I havent lost all my winnings.

Betting tbh, is hard work.

yeah very hard to make a lot of money if you are betting 10/20 quid stakes.

I stopped playing the lottery the moment I did a quick calculation, and realised that in 9 months I had gambled about £180 (roughly £5 a week), and only won £10 in all that time!!!