Masturbation on a daily basis does affect sperm count, but not like you might think. It takes about 3 months for a single sperm to mature, and sperm production is a constant process.
When you ejaculate, you simply release sperm that's matured, and ready to do it's thing. If you masturbate daily, you're going to use up most, if not all, of your available sperm. If you have [URL=http://www.familyresource.com/pregnancy/33/]infertility[/URL] concerns, and you want to have the maximum amount of sperm, you should not masturbate for at least 2-3 days before having intercourse.
Otherwise, there really isn't an issue of losing sperm from too much masturbation. Unlike women and their eggs, men don't have a limited supply of sperm per se. So don't worry about running out of sperm one day, because you wacked off too much.