I had a house that leaked tremendously in the basement. Turned out I just had to add guttering on the ground from the bottom of the downspout to carry the water away from the house about 10 feet (luckily there was a flower bed there so it wasn't very noticable) and it never leaked again. I did use the Dry-Lok waterproofing paint - more for "looks" because the grey walls were too dark. I'd try to find out "why" the basement is damp first. Even now, in my new house, I still go out occasionally during a good rain to see how water is flowing from the house.