What one piece of advice do you give to someone new to handicapping/gambling?

Discuss.

Covers member Indigo999 is one of the top handicappers on this website.  He has mentioned that 95-96% of sports bettors lose in the long run, so you should not expect to be a winner, especially in your first year of sports betting.  Wager only what you can easily afford to lose.  I am a recreational bettor who usually bets $7 units, so I never have to sweat the results.  I also know that if I actually won $1,000 it wouldn't change my life one iota.

I have read articles and listened to professional sports bettors on the radio and TV.  Most operate with a 40-unit bankroll which allows for inevitable losing streaks while avoiding the need to replenish their funds.  They also strongly recommend limiting the risk to 10% (4 units) on any given game or 25% (10 units) on any given day (or week of football).

If you are a college basketball fan who may have 20 strong opinions on any given Saturday, you should probably operate with an 80-100 unit bankroll.

Good luck and definitely do not chase on losing streaks.

Very good info DBW. I would add that looking to the unpopular side of a wager is +EV over time.

Right.  If most bettors were long-term winners there wouldn't be many sportsbooks.

Discipline. No matter how much you like a game, stay within your betting parameters.
If max bet is 3 units, then lay 3 units. Once you break your own parameters, it doesn't matter if you win or lose that bet anymore. Your account will blow up in due time. 

BINGO.

Money management,without it good night. ROI

Accept your losses.

do yourself a favor and quit now.  Because unless you are one of the top 3-5 gamblers chances are you gonna spend your life chasing a losing dream.  Take some money every week, put it in a good 401k and in 30-40 years you will have more money then you could ever win in 100 lifetimes of gambling.  also a less stressful life.  Your call, print this post out and look at it in 30-40 years

 Discipline, Money Management..Key ..!! 

** WATCH THAT BANKROLL CAREFULLY,CLOSELY ** 

Set a goal amount you want to win for a specific period of time. Stop betting when you reach that amount.  Celebrate that win. Then repeat as necessary. 

There is some really good advice in here already regarding bankroll management, but it is definitely an important factor and worth repeating.

Decide how much you can afford to lose with no consequences and start your bets at a low rate initially. Only raise them if you can easily afford to. Expect to lose and be happy when you win. 

When you find yourself on tilt, aka really angry, just go for a walk and clear your head. Think about something else for a bit. You can always come back later, it will still be there for ya.

The other big one is “after a big win, don’t think you’re god. In fact, consider taking a break after a big win. Often our hubris after a big win leads to really poor results. Take the W, take a break, and then return back at your usual unit size.”

Never ever let people around you influence you with their “winnings”. Especially the Asians. So much people says they won xxx$ xxxx$ xxxxx$ but they never mention how much they lost to be there. As usual, people shows only their winnings and never their losses. 

If you lose, accept it. Never tell yourself you’ll win it back next week or the week after.

Only bet with YOUR money and not loans. If you lost then so be it, life goes on.

[Quote: Originally Posted by ayashifx55] If you lose, accept it. Never tell yourself you’ll win it back next week or the week after. Only bet with YOUR money and not loans. If you lost then so be it, life goes on.

Don¡¯t count your chickens before they are hatched. Sports betting will break your heart. You will win and lose by the craziest moments and slightest margins. Be prepared for the rollercoater if emotions. Also try not to come here and wish someone dead because you lost a bet. Also, don¡¯t bet on Soccer.  

#1 advice to invest in Bitcoin first before you bet on sports. For every $100 in sports betting, invest $100 in Bitcoin. I made more money investing in Bitcoin than in sports betting. Bitcoin increases in value once every 4 years, just like gold, you hold it for 4 years to hedge against inflation.

In sports betting, the best rule is to bet 1% to 2% of your total bankroll. The worst gamblers bet all in 100% or any thing massive like 50% bets or 20% bets. The smaller fragment bets, you're more likely to hit your straight bets and parlays. Avoid large parlays, the larger the parlay the more likely you will lose.

What one piece of advice do you give to someone new to handicapping/gambling?

Track your selections for 2 years FIRST before considering placing a real money bet!

Best ONE PIECE OF ADVICE I can offer -  from hard experience and observation.

If after 2 years of practice you are NOT then a successful, winning bet picker ON PAPER, then forget about betting real money!

Thanks to the people who read the title of this thread and shared ONE piece of advice. By far the weirdest response was the first reply by dogbite... "Covers member Indigo999 is one of the top handicappers on this website."

Why is that the "weirdest response"?  He has posted more winners than losers and he has helped people learn Sports Data Query Language which enables handicappers to search the Sports Database.

If you have to ask...

@C-70Blues

That's not a reply, it's a dodge.

Keep all of your wagers for equal amounts as you never know which ones will win and which will lose   If you made wagers of $500 $300 and $100 you could go 2-1 and still lose money 

I agree. Why do you have such a big hardon for indigo? Is it that he went pay? and you can no longer sponge off him?

This Indigo guy charges for picks???