Very sorry to hear about that loss, I've done the same before once and it's never a good thing. When I did it thankfully it was only a couple of weeks worth of earnings (layed cabrera @14 when he went on to win the Masters this year) but none the less was very painful for the best part of a week afterwards and I've learnt from it, it was money I could afford to lose and I definitely didn't chase the losses down (took a few weeks to 'get back' as it were but I didn't really think of it as me trying to chase back the losses).
I think it's a good idea doing what you're doing, it's what I normally do anyway to make it more like 'work' or a 'business', no matter how small the profit or loss I always mark it up in detail (how much I started with, how many hands or w/e I played, how long it took, what the end balance was). But each to their own I know a lot of people would say time is money and that time spent marking up tiny profits or losses could be spent better making more profits. Helps me stay 100% in control though which I think is the most important thing with gambling.
Maybe the other thing to do is to NOT go near anything to do with gambling when you're drunk again... though that's maybe easier said than done... lock the PC away and give the key to the barman
Not through drinking but through a mistake I lost nearly $800 last night. Its not a pleasant feeling thats for sure and the temptation to rush off and win it back NOW is very strong.
I know I will get it back soon enough but I can now see how its OK to know and read people saying "slow and steady you will win it back" but it is very hard to put into practice. I am not placing any bets today because I would not be thinking straight that error would be on my mind.
Have a plan and stick to it
The bookies must of loved us last night, I lost nearly $2000 last night if that makes you feel any better Andy
Originally Posted by Andy
The thing is I never get the temptation to chase it, just motivates me more to make it back properly. No way am I letting the bookies keep that money.
Reading all this makes me sad really. It just showes once again that playing around with money the way we do daily does tricks on the mind, even if it can't really be defined as gambling. Even though we know that long odds win, and even though we know that you can go 20 hands without winning, for some reason we still do it.
I have chased losses as well, but not lost anywhere near the amount you guys have. For casino purposes I simply had to stop doing offear, except for maybe the odd £5 deposit for a slot or something very minor. I self-excluded myself from Betfair Casino, as that is where I keep a lot of money most of the time. Sure BF offer promos here and there where you can earn a few £, but at least I know that I can't lose any money in the BF casio.
As for matching/dutching mistakes I have been fortunate not to experience any big mistakes yet. But certainly now that I play around with £200 lay stakes daily - often seconds before the off - I could easily get stung hard one day.
Thankfully you have around half your money left joey. Just go after the offers hard.. Do every Will Hill Bogof. Look for IW arbs (rpoints arb thread could be useful?). There's probably £4-500 worth of bogofs until 2010 if they continue doing them. IW arbs are a plenty, but it may look like a lot of work because of their silly low limits. It is all about being motivated!
Blowingbubbles, it saddens me very much to see that you have lost your profits from the US project. Certainly you were the one responsible for bringing me, and after that probably a lot of others, in to the project. It has been such a pleasure reading the weekly updates. From looking at your diary I am sure you will be able to make it back in two months or so if you stay motivated! Hopefully more offers will pop up when the pre-season for NFL starts next month, and even more when the regular season starts up in september.
For some reason I think of Andy as an expert on doing all of this. I have no idea what kind of float you are working with, but I am assuming the $800 loss didn't sting nearly as much as bb's and joey's loss. Not much advice to give, both because I don't want to come off as a wiseguy and because I know that you know what you are doing, and can probably make back the loss in a week.
Best of luck to all of you! Stay motivated as the football season is closer and closer every day
With all due respect to the other posters who are understandably trying to cheer you up and motivate you to get the money back, I think you need to seriously consider whether you should continue with gambling. What we do is a long slow grind and for most on this page, just equivalent to a semi-skilled wage.
If there is any possibility of this ever happening again it just isn't worth it. It takes only minutes to piss away months or years of hard work.
Some people are just too susceptible to moments of madness to do this. If that is you, it is a sign of strength of character to acknowledge that.
I think a key factor is that joey has posted this thread at all. To me, that shows how aware of the situation he was/is and how he hasn't tried to bury his head in the sand or even continue chasing without telling anyone. Those are more worrying signs of compulsive behaviour and I think it's admirable to show the strength to say "I messed up, this is how I'll deal with it".
Anyway best of luck, when things have gone against me in the past (while nowhere near that scale) I write the total down and then hunt the target down a bit at a time. Added to the BOGOFs etc, don't forget the Bet365 4/1's if you're still ungubbed, they're still one of my biggest goldmines.