Wagering and Losing Your Cool

[Dr Raider]

Do you find yourself chasing losses?

After you are ahead a good amount and start giving it back, do you feel like you should get it back in a hurry since it didn't seem like it was that tough to get it in the first place and now you are watching your winnings vanish right before your eyes?

We have all been there or are there right now.

One thing that may help is to cut back on the number of games you wager on.

Any other suggestions?
(besides fixing the game)

 

[Eddie Haskell]

Dr. Raider:

This may sound silly but it has worked for me this year. My local has a $1,000.00 threshold, either way. Week ends on sunday night during basketball and monday night during football season.

I try, emphasize try, if I can to make larger wagers earlier in the week in the hopes of going over the threshold early. If I go down early in the week, I lighten up so that I don't go over and have to pay.

Then early the next week, I look for games to go heavier on and give me some room. It's worked for me this year as my local has paid me 3x and I haven't paid him yet. Obviously won't work if you are ice cold for a two week period.

Admittedly, I do chase every once in a while. Been burned in the past but lucky this year.

Good luck,
Eddie, the money manager

 

[yyz]

DR,

Most people find it easier to bet "more" when they are down, than to bet less, and "less" when they are up, instead of more.

I know that I used to fall into that trap. We keep thinking that the tide is about to turn, be it from a losing session, or a winner.

When winning, some people refuse to bet more, bassed on the assumption that they are certainly due to lose. This thinking leads to "chasing", by the idea that "surely I must hit a winner soon."

It is flawed thinking, but so many of us have been down that road.