I need advice on betting

[chrism56789]

okay, Let's say I have 220 in my account. I only play straight wagers on games. i was thinking betting $22 to win $20 on each game.

Let's say i win and increase my account to over $300, then would it be good to bet 33 to win 30?

And if i get it up to 400, then bet 44. Get up to 500, bet 55?

And if I lose and it goes back down to 300, I start betting only 33 to win 30 again?

For instance, I base it on 300, 400, 500, and constantly bet to win 10% of my account.

What do you think?

I know it's best to bet a set amount all the time, but I only got $220 in my entire account. And betting a set amount all the time, even if i do really good, won't make me lot's of money anyways. So i figure this way I can lose a lot, but at the same time I can win a lot by hopefully accumulating money a lot more than the set amount by hopefully winning. What do you think?

 

[SixFive]

good bankroll managers (which doesn't include me) would tell you to bet $4-$8 a play. 10% is too much.

 

[hobbs]

Reply

Reply

If you want to do this correctly you HAVE to manage your bankroll correctly.

Sixfive is right on. You should NEVER wager 10%of your bankroll if you are trying to make profit. If you want to just "gamble" then by all means.

I assume by your question you are taking this seriously, so I will offer my humble advice. For me this IS my part time job, I take it VERY seriously as a source of income as an investment.

It has taken me many years to realize that you cannot win at gambling. The attitude has to change to where you are thinking of this as an investment over a LONG haul. Winning starts and ends at money management and there are many different ways to do this with different type of betting styles. I have learned and developed ways to do this, but I digress...

I dont want to make this too long so here are two quick options... just my two cents.

1. Only bet 1% of your bankroll per play. How you adjust after you win or lose one play is entirely up to you.

2. Divide your bankroll into 4 seperate units. So if you have $400 your first unit is $100. You stay with this block wagering 2.5% on each play.. which would be $2.50. As your bankroll fluctuates you in turn fluctuate. You lose your first bankroll of $100 then you divide up again by 4. You increase to $500 you should divide again by 4... in that case your first unit is $125 and your bets of 2.5% becomes roughly $3.00 per play.


THERE ARE a ton of different methods and strategies. Being successful takes work and DISCIPLINE. Hope this helps a bit.

Hobbs

 

[LuckyIrish]

Yeah they say to only bet 2% of your bankroll but I never do.You have to have a HUGE bankroll to obly bet 2% a game.......If you only bet $4-$8 a game it will take you forever to work up a bankroll...JMO.

I usually put in $300 if I am starting out somewhere and pick a bet I really like and put half of it on it.....If you win....you are already up about 50% of your original bankroll...if not,you still have $150 to work with,then just do smaller bets.

 

[IX_Bender]

2. Divide your bankroll into 4 seperate units. So if you have $400 your first unit is $100. You stay with this block wagering 2.5% on each play.. which would be $2.50. As your bankroll fluctuates you in turn fluctuate. You lose your first bankroll of $100 then you divide up again by 4. You increase to $500 you should divide again by 4... in that case your first unit is $125 and your bets of 2.5% becomes roughly $3.00 per play.


Hobbs

1. What is the purpose of dividing your bankroll up into quarters?

2. If you are wagering 2.5% of 25% of your total bankroll then you are actually only betting .00625 per play. Someone with a $5,000 account would be wagering 31 dollars and change per bet? That seems low by conservative standards.


chrism56789 - if you have $220 as your total bankroll you cant lose alot, but you certainly cant expect to make a lot of money either.

 

[hobbs]

Split bankroll

Split bankroll

The split bankroll is a technique to protect your bankroll. It is VERY conservative. But I also need to mention that you should be playing MORE games per day then less.

This is what PROFESSIONALS do as a living. I was just giving options. What is conservative about $31 a play if you are playing 7 games a day??

Also if we are talking professionally then we are talking a HUGE bankroll... like $100,000. Now do the method again and you will see what I was talking about... Did you read my entire post?

$220 is not a bankroll, it is fun money. Good luck but if you risk up 10% of your bankroll per play you are going to lose... period. Could you win a few plays and then cash out... sure... but read my post!!

The split bankroll is a strategy to PROTECT your bankroll for pros.

I said this should be looked at in the LONG run as an INVESTMENT. If you dont want to do it, dont, and I wish you luck.

Hope that helps. Take care and good luck!

 

[chrism56789]

hobbs,

thanks, i understand what you mean, but i'm not in it for the long run, and I don't mind losing my entire account , and this is only fun money.

i wanna make a lot or lose it all. I'm not here to make 50 dollars. i wanna double or triple my account or lose it all.

 

[hobbs]

Cool

Cool

No problem, just giving you the info. Yeah if its just fun, then lock and load!!!!

Good luck!

 

[LuckyIrish]

hobbs,

thanks, i understand what you mean, but i'm not in it for the long run, and I don't mind losing my entire account , and this is only fun money.

i wanna make a lot or lose it all. I'm not here to make 50 dollars. i wanna double or triple my account or lose it all.

Then pick one game tonight you like and put the whole bankroll on it...as far as the betting 10% you will lose thing...I dont buy that at all.
I am very successful and make a decent income betting and I NEVER start out with more than $300-$400 and I never bet less than 10%.
If you are cinfident enough in your picks...why only betting 2% of your bankroll?

 

[LuckyIrish]

Another thing that may be helpful....Play TOTALS....I usually only play games I like to go OVER.
I think spreads are very tough to bet....a lot of ppl I see don't bet totals and I think it is much easier to predict a total than an actual winner and whether one team will cover or not...JMHO.

 

[GM]

SixFive is right, stick to maybe 4-5% of your bankroll per play. The experts do say 2%, but you have to have a hell of a lot of money in the first place to make meaningful plays. I mean, you probably don't want to send $10,000 offshore to only bet $200 per game. But at least it will keep you from going broke.

My other rule of thumb is to make sure I never have more than 1/3 of my bankroll at risk at any one time, if possible. At least this way if you have a brutal day and go 0-10 you still have 2/3 of your bankroll to work with. This one disastrous day (which we all have, and will all always have from time to time no matter how educated we get at this) does not wipe you out if you follow this rule. You can stop playing for a bit and catch your breath and it's not the end of the world. If you're playing 10% per play and have 10 plays going and go 0-10, you're done.

As for progression in %'s...my rule on that is that I only up it once my bankroll has gone up by 50%. So if my initial roll is $2000, my bet size is $100 per play until I have $3000. Only at that point do I now go with $150 per.

Adjusting it slightly up or down after every day of play doesn't really work. These things go in streaks. Say you start with $2000 and have a huge day, go 8-0 and make $800 profit. If you adjusted immediately, you'd now be betting $140 per game...but you are very unlikely to keep going at such a hot pace. You could go 0-5 the next day and because you raised your bet size you drop $770...almost all the profit you made on Day 1. So you're only up $30 despite the fact you've picked 61.5% winners.

(edit) Just read further in the thread and see you just want to hit the big score. Sheesh...ignore all this then. Just bet everything you have on anything at all and cross your fingers, if you don't care about losing it all.

 

[SixFive]

(edit) Just read further in the thread and see you just want to hit the big score. Sheesh...ignore all this then. Just bet everything you have on anything at all and cross your fingers, if you don't care about losing it all.

lol, I know, why even start the stupid thread?

 

[chrism56789]

Thanks all, good advice all around. :clap: