04/05/2009

The most important part of gambling is not losing. People get confused with the trying to win money part but its not about that, its about not losing. The winning part comes natural if youve got the talent or skill to do well on Betfair. Today, the P&L looks terrible, and its the worst day on the blog so far. But it actually doesnt feel like a really bad day, just all the losers add up really quickly and you look at the P&L at the end of the day and think hang on thats shocking.

Went to The Curragh today, had €200 and €100 on two horses, both lost, wasnt too bothered though because it happens and you cant be right all the time. The cricket was a lay at 1.02 that just didnt pay off and the snooker was backing Murphy at 6.2 during the week, its only settled tonight. I actually dont think I did anything very wrong today but still have made a loss of €440.

Theres no point letting it get to you but it does in a little way, €440 is a weeks wages to some people and its not a nice feeling to lose it in one day, although I've had much worse days. It all adds up very fast, the three losses were OK alone but put them together and it looks terrible. Its important to keep your head when these things happen, would I have done the cricket lay if I werent €300 down already, probably not.

Its all well and good when youre in good form and winning, but when things go bad, money management is the key. Theres never a last bet or last race, sometimes you just have to accept a loss, if you can manage that youre well on youre way to being successful. Its very hard some days though. Anyway, if anyone has a lend of a brain for tomorrow between 9.30 and 11.30 for an accounting exam it would be most helpful.

Cricket: -EUR40.00 | Horse Racing: -EUR300.00 | Snooker: -EUR100.00 Total P&L: -EUR440.00

Its days like this if you had kids you'd sell them to Michael Jackson.