How are you guys faring in your betting?

[MMAOracle]

So I finally wrote enough rants to create my first new thread. Anyways, so I started MMA betting since the Khabib v. Conor fight. I bet on every single event thereafter. Currently, I am now perfectly even.(sort of..., if I factor in the payout request fee and deposit fees, I am actually behind by $200 but I think I shouldn't factor this in because these are mere transactional fees and not incurred due to betting losses) It was a wild roller coaster. my BR went down by 25% and I thought about quitting. But the last couple fights (UFC FN 142 and 141) helped me to break even. Now that I achieved my initial goal of climbing out of the shit hole, I am being a bit reflective of my performance in relation to my fellow sherdoggers' betting performances. To get to the point, how are you guys doing in betting? Are you up? If so by how much? Are you down? If so by how much?

 

[niwatori]

I started MMA betting since the Khabib v. Conor fight.

Just my two cents:
I think losing a decent part of your bankroll is to be expected if you had no prior betting experience, given that you started relatively recently. I started like a month prior to that fight and while I have been betting on probably like every 3rd event (+ local MMA events in my country, where I have more success btw) , I feel like I've learned a lot and I've been able to reflect on my mistakes and so even though I also lost a big part of my bankroll, I'm now breaking even just like you. Right now I feel that if I can maintain learning at this pace, I will be able to (in a few months) get to the point where I can actually profit slowly but steadily.

On a side note, one thing I realized is that even if ever became good at this shit, I would NEVER want it to be a source of income I'd be dependent on.

 

[Dooze]

How much are you betting/withdrawing that you're $200 down due to deposit/withdrawal fees in just under 2 months?

I dunno where you're based but as a UK bettor that seems mad to me. Unless you're transferring thousands in and out regularly (which itself seems pointless if you have to pay withdrawal fees to the point you're down) I don't get how that happens.

Maybe I'm just lucky as a UK bettor but I don't know of any bookie here that charges withdrawal fees. Is it a common occurrence in America/Europe and if so, how much does it cost to withdrawal or deposit money?

 

[KBE6EKCTAH_CCP]

Just started yesterday and lost 10% of my huge bankroll of 50€ on Hunt.

 

[raketmannen]

It's expected to lose in the beginning. I started about 2½ years ago, first 5 months I lost around 1k, played with pretty small stakes while getting a hang of it. But ever since I started turning it around 6 months in I've been winning consistently these past 2 years, gradually raising my unit size.
Up $44k on UFC bets since I started, $30k of that is from this year. Won a couple of thousand on Bellator, DWCS and other regional MMA aswell

 

[MMAOracle]

How much are you betting/withdrawing that you're $200 down due to deposit/withdrawal fees in just under 2 months?

I dunno where you're based but as a UK bettor that seems mad to me. Unless you're transferring thousands in and out regularly (which itself seems pointless if you have to pay withdrawal fees to the point you're down) I don't get how that happens.

Maybe I'm just lucky as a UK bettor but I don't know of any bookie here that charges withdrawal fees. Is it a common occurrence in America/Europe and if so, how much does it cost to withdrawal or deposit money?

Deposit by credit card is 7.5%. Withdrawal is 80usd.

 

[raketmannen]

Deposit by credit card is 7.5%. Withdrawal is 80usd.

Dude there must be another way to deposit, 7.5% is insanity. Every book I use got free deposits and withdrawals, Pinnacle limited to 1 free withdrawal per month though

 

[MMAOracle]

Dude there must be another way to deposit, 7.5% is insanity. Every book I use got free deposits and withdrawals, Pinnacle limited to 1 free withdrawal per month though

Well deposit has already been made. Not gonna deposit more. I use sportsbetting.ag btw. I do not like this site.

 

[MMAOracle]

It's expected to lose in the beginning. I started about 2½ years ago, first 5 months I lost around 1k, played with pretty small stakes while getting a hang of it. But ever since I started turning it around 6 months in I've been winning consistently these past 2 years, gradually raising my unit size.
Up $44k on UFC bets since I started, $30k of that is from this year. Won a couple of thousand on Bellator, DWCS and other regional MMA aswell

Any tips bro?

 

[chemmy]

There isn’t anything at all wrong with breaking-even at first, but at this point your sample size is way too small to really have a grasp of how good you might be at this. Keep reminding yourself that it’s a long-term game and you are going to need at least a year to have any significant data to draw conclusions from, and even then that first year is going to be full of learning experiences and growing pains. There’s a big difference between being a knowledgeable MMA fan and being a profitable MMA bettor. Of course there’s some positive correlation there, but not as much as you may think and one definitely doesn’t guarantee the other.

Bankroll management is the key to success and sticking with solid betting philosophy (whatever that may become for you over time) is what will determine whether or not you’ll be a long-term winner. There are several sharp bettors on this board and other places that give solid advice that was usually learned on the MMA betting battlefield by taking lumps and bruises along the way. Pay attention to who knows what they are talking about and try to weed out the bullshit —- it’s not always easy to do. Make up your own mind but try to stay open-minded to that fact that you may not be seeing all of the correct angles. It’s a multi-faceted sport and things aren’t always as cut-and-dry as they may seem.

My suggestion is to try to come up with some loose rules to follow as you go along. When you notice that you’ve clearly made a mistake put it on your list and quickly glance over it before each bet you place so you hopefully don’t get caught in the same trap again. Try to keep meticulous records if you can and take a long, hard, objective look at your data every 3-6 months to see if there are any identifiable leakages that you can tighten up. Pick your spots carefully. Playing too many fights is a trap that almost all new bettors fall into at first. Passing on a losing bet has the same net effect on your bankroll as winning a bet, so make your wagers count and try not to get lured in to laying excess juice where it isn’t warranted (seemingly “free” money on Tyson Pedro over washed-up Shogun last night, for example).

Successfully betting on this sport can be done, but it’s a long road and a constant learning experience, event after event and year after year. As long as you keep progressing as a bettor your bankroll will keep growing. Look at break-even events as a free training session and losing events as an investment in your future as a bettor. Good luck!

 

[buckwheatloaf]

im up $7k-8k since betting on every event since Woodley vs Till 3 months ago. when i stop posting on sherdog u will know i went down hard.

my worst losses of thousand+ on single bets is when i lose one bet so then i bet double on the next "favorite" to try to win back the money but then the favorite loses. i've stopped doin that -_-

since generally i dont bet on many favorites, only in a critical time when i need them to save me from losses.

 

[NorthernLights]

My results for the years I've been betting on MMA are in my signature...I'm not making a ton of money, but I consistently profit. I'm not even close to taking this as serious as a lot of guys here. I did more rewatching of fights, taking notes etc in 2016 and 2017 and not surprisingly I had much better results but I just don't have the time for all that right now. This is not my career, my dream or even my main hobby. I honestly get by just fine reading other peoples opinions on my phone during my lunch breaks, listening to podcasts and just going off memory and instinct. If you're only decent at figuring out who's opinions should be listened to I think anyone should be able to profit from MMA betting.

 

[MMAOracle]

im up $7k-8k since betting on every event since Woodley vs Till 3 months ago. when i stop posting on sherdog u will know i went down hard.

my worst losses of thousand+ on single bets is when i lose one bet so then i bet double on the next "favorite" to try to win back the money but then the favorite loses. i've stopped doin that -_-

since generally i dont bet on many favorites, only in a critical time when i need them to save me from losses.

Yup. Martingale(doubling up after a loss) is dangerous. But a good strategy to make a quick come back.

 

[MMAOracle]

These are all great stories guys. For me, i have an extensive gambling background. So i think that may have helped me break even fast after some fucked up losses.
1. Botelho <-- emotional bet
2. Weidman
3. Volkan
My three biggest losses so far.
As chemmy mentioned, it is indubitably a good idea to keep track. I made a spreadsheet and keep close eyes on my dumb actions. it seems that i am much more emotionally than i thought. Keep the stories coming guys. they are quite interesting!

 

[GoldenWolf87]

Not bad but yesterday lol Hunt and Pedro made me lose. I had Santos but that didnt count when your three fighters loss. I admit i never saw Shogun potential win.

 

[KBE6EKCTAH_CCP]

So far I have 100 % failure rate on the one bet I made (+100 on Hunt), LOL.

But seriously, I think it was an honest loss and I disagree with people who say that Hunt just came for a paycheck. I think he really tried, but he just became way too slow with age to chase someone unwilling to engage.

It is true that Willis had nothing for Hunt offensively, in the sense that he never put him in danger, but I did underestimated Willis, in the sense that while an absolute can (I stick to that opinion), he is capable of implementing a game plan, and has rather good reflexes and head movement.

That allowed Willis to simply circle Hunt with jabs and and an occasional 1-2 for all three rounds.

The teachings I take from this is that even a bum with no real weapons can win by fighting smart to exploit a weakness (in this case, Hunt's absolute lack of movements on his feet).

Another teaching here is perhaps to watch out betting against fighters with limited footage.

 

[Oblivian]

This is turning out to be one of my better years. This last quarter has been particularly good. I'm probably going to cash out a chunk here soon.

 

[Sadistics]

Started betting late 2015 with a $50 deposit using $5 units. Took me until Sept 2016 to gain enough confidence and a big enough bankroll to use $10 units. Started to take it more seriously around then and it's taken off since.

2016 ending BR: $1200
2017 ending BR: $7846
2018 current BR: $52198

Hope to have $1000 units by this time next year

 

[t6p]

Started betting late 2015 with a $50 deposit using $5 units. Took me until Sept 2016 to gain enough confidence and a big enough bankroll to use $10 units. Started to take it more seriously around then and it's taken off since.

2016 ending BR: $1200
2017 ending BR: $7846
2018 current BR: $52198

Hope to have $1000 units by this time next year

Just unreal man. You're also one of the few who's completely transparent with their wagers for every single event. I remember you starting out around the same time that I did and you've blown so far past me it's ridiculous. Even if I devoted as much time to it as you do I wouldn't be putting up those kinds of numbers, or anything close most likely. Much respect, keep it up.

 

[GrantSorenson]

Yup. Martingale(doubling up after a loss) is dangerous. But a good strategy to make a quick come back.

It's never a good strategy. Ever.

Even if you win it can be from a bad bet or bad strategy and you are more likely to repeat that again and eventually lose. This is why you learn more from losses than wins. In the case of martingale, you lose everything eventually because you'll run out of money.