aww Hunny!
I know how you feel.
I have been in a bit of a similar situation, but i wouldn't waste my virginity on this sleaze/player. I did lose my virginity to someone who was decent and i knew i like so i was glad, but this guy that was soo irresistible i ended up having sex with, and i knew what i was getting myself into, but i thought i was prepared and im not that much of a fragile person. We have sex a lot, and it was probably the best sex I've ever had, but i know that it will never be nothing more, god i don't WANT it to be anything more, he would be the worst boyfriend ever! But now i have to deal with the consequences and although it is satisfying, there ARE many. Seriously think about, because if you do it will be your first time and will most likely mean nothing to him...do you really want that?? especially for your first time?
good luck to you, i hope you make the right decision.