2million - My Journey to Financial Freedom

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Wednesday, August 31, 2005

My bad habit

I love to wager on college football games. It is my "bad" habit. I am actually not a big gambler - I am a fairly risk adverse person. However my favorite sport is college football, I am a big VA Tech fan and I have a passion for the game. Wagering on the games is kind of my way of benefiting from my passion for the game (as long as I am good at it).

I thought it might be interesting to follow the upcoming season and track my betting results. If I do well then is will serve as a record and reinforcement that you may be able to beat the system. If I lose then it will be a constant reminder to me that it is a bad financial decision to continue to fund my bad habit ;). Either way there should be some interesting things to post about - I'll try to limit betting posts to 1-2 per week during the season mainly to keep track of the financials, what I am betting on, why, and to track the results.

I usually start the season off by depositing $100 into my Bodog sportsbook account. That's it. If I loose it all the season is over. As a result I usually only bet in small amounts $5-$25 per game depending on my confidence level.

Why?
There are lots of little reasons why I do it. Games are a lot more exciting when you have something riding on them. I love to follow my team (VA Tech) and I will sometimes use a wager to moderate the risk of a game to me personally. For instance if VT is going to go play for the National Championship I will have to go, but its going to cost a lot of money. Towards the end of the season I can moderate the risk of this event breaking my financial goals by wagering on certain games leading up to this event - as a result if VT goes the winnings from those games can help fund the trip expenses.

Track Record
I always remember a winning record and quickly forget about bad wagers or losing streaks, however I do believe there have been several seasons where I came out ahead. Unfortunately I don't have the records to verify this - hopefully keeping track of this season on the blog will help me do this.

I can't wait for college football!!

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