Question about bankroll management

[LasVegasErnie]

I guess the recomended procedure is 2% of total bankroll per bet. Flat bet 3 to 4 games a day.
My question is, when do I increase my bets to match my bankroll? Do I make the adjustment at the start of each day, week, month? And if I can reload my BR at any time, can I bet a little more aggresive? Maybe 10% of BR at the start of each day, week, month? Thanks for the help guys. This is my second year sportsbetting, and I still can't get a grip on BR management. I have no set pattern, just kinda flopping around. I'm well into the black without a BR management system. I just think I could do a lot better with some kind of structure to my bets. How do you guys that make a living doing this manage your bets?
Any help would be greatly apreciated guys.

 

[INtheBLUE]

a unit is usually supposed to represent 1% of your bankroll. How many units you bet is up to you. The trick to "management" is to be consistent. If you want to choose 2 units per bet, be consistent with it. That is a decent definition of management.

Personally, I wouldn't adjust your unit size unless you have doubled or halved your money. Good rule of thumb. But if you pay close attention every week. Adjusting weekly isnt a horrible idea.

I personally dont make a living at this and I only bet NCAAF. I do it for fun. BUT I am a businessman, and I dont believe in approaching anything that has to do with money without a sound plan. I start each season with 5k for betting, 1k in each of 5 books. my units are only $50. I bet 2 unit standard bets, but I save 1 unit bets for parlays (rarely), and 4 unit bets for ones I really like. I even made one 10 unit bet this year. Stupid, but I really liked the odds on it and won (luck).

hope this helped some.

 

[buddy]

I have always been an advocate of conservative wagering and minimal exposure of YOUR bankroll. If you lose regularly like I do, my approach has tremendous value.

If you win and begin to play with THEIR bankroll (it happened to me once and I almost fainted), then you can increase your wagers.

I think it's also a good idea to set a target amount of how much you'd like to earn in a sportsbetting fiscal year.

This depends on how many different sports you feel comfortable with handicapping. I only handicap college sports. But I don't bet them all season long. I prefer the first seven weeks of cfb and I begin in earnest with college hoops come conference play. This takes patience and discipline. This can also come about by having your backside handed to you when one wagers outside these boundaries.

Handicapping is difficult.

So is money management.

So is formulating a betting strategy.

Sticking to a plan which includes all three is even more difficult.

Winning at this racket is the most difficult of all.

 

[Dice34]

I don't use a book just a (local)..also just bet football.....I started with $0 in bankroll and put nothing aside. I started off just playing $25 bets and would throw an occasional $50 dollar bet on a game I felt confident in. As my bankroll started to increase, i was gradually playing more $50 dollar games, but my amount of games never increased.

With a lot of luck and limiting my games, I'm +$1330 and now my avg. bet is $50 with a few $100 games. I learned my lesson last year that its not a sprint to make a profit. Last year when i would win, I would turn around and bet big and lose it, never getting anywhere.....Slow and steady is the method i use....

 

[LasVegasErnie]

Thanks for the input guys. One of my biggest problems is similar to Dice's from last year. I get ahead, raise my bets, get knocked back down. If I stay at the higher level a little too long trying to get it back, I get hammered. So, I drop down to a lower level, win a few, lose a few. So I'm losing the big bets, winning the small bets, and it's taking me forever to get ahead.
I definately need some kind of mechanical betting strategy to follow to build up my BR as quickly as and safely as possible. And not have to worry about risk of ruin.
Again, I apreciate the help guys.

 

[Jake DeNiro]

I believe buddy's "I think it's also a good idea to set a target amount of how much you'd like to earn in a sportsbetting fiscal year." is a good idea and I use it to stay focused on my goal. I know for a fact as Dice34 said "I would turn around and bet big and lose it, never getting anywhere". We all have or will have lost the biggest bet that we made or will make. I'm personally in this for the long run and look at the long term goal and go from there. Something to consider. Just using a number of 100 units. Say you set your goal at 100 units over 3 years. Thats 10,000/36 months =278 month/30 days = $9 per day to reach your goal. Pretty boring, but you know where you stand and stay focused. In that time you can, and will still step up to the plate and make the biggest wager.....I've been doing this for many, many years and this is what works for me. Just my take... GL

 

[LasVegasErnie]

Let me just throw this hypothetical betting strategy at you guys. What if......a man started out with $100, bets 10% each bet, 1 to 2 bets a day. For every $100 dollars he goes up, he increase his bets by $10. So, when he goes up to $200, his bets would be $22. He goes up to $300 his bets are now at $33, and so on. And lets just say, for the sake of argument, this guy hits his bets at around 80%, and has been since the first day of regular season NBA.All the time fluctuating 5% up and down from that 80% figure. Does this betting strategy sound feasible? Or could you be a little more aggresive considering your 80% strike rate?

 

[ScreaminPain]

Say you set your goal at 100 units over 3 years. Thats 10,000/36 months =278 month/30 days = $9 per day to reach your goal. Pretty boring, but you know where you stand and stay focused. In that time you can, and will still step up to the plate and make the biggest wager.....I've been doing this for many, many years and this is what works for me. Just my take... GL

Jake, I like your thinking, but how could it work? First, sports are played in seasons that are shorter than a year. Are you assuming one could 'cap NFL, NCAAF, NCAAB, NBA, NHL all at the same rate? What would happen if you lose 2-3-or 4 days in a row at $9 per day. This is entirely possible!!. What units do you play from there on? I think you have gereralized the scenario, but it could be effective breaking it down to seasons and then into months or weeks (not days).

Actually, you could fall into a situation where you are chasing money in order to meet your set goal, thereby betting more while losing :scared

Back to my question, how woud you propose to bet after a few consecutive losing days ? :shrug:

 

[freelancc]

$9 per day to reach your goal.

do the Lakers play every day..

 

[THE KOD]

buddy almost sounded lucid

 

[cisco]

"So I'm losing the big bets, winning the small bets, "

I thought I was the only one with this problem. I work my way up and every time I "Step out" I get knocked down.


:cursin:

 

[worm44]

Start with a $1000 bankroll-bet exactly the way Worm44 does for a whole year-(nothing else)-you will have $10000 by the end of the year............thats how I do it.................

 

[bear]

LVE
I've suggested this many times here and it certainly is not for everyone...BUT.....works for me..
I believe that the psychology of the game runs contrary to winning. Games are close to a 50/50 proposition with the pointspread....and all other factors including your ability to pick winners. If you are better than 50% great ...if consistently less than 50% then take time off...
Now, this is a streaky business and gamblers like to send it in when playing with "the mans" money........thats wrong! If you are a flat bettor and you have 'the mans" money you are ahead of your 50% norm.... then it IS PROBABLE that you will cool off and give back till you approach 50% again.........soooooo take a little off the bets...say after hitting at 55% and when you get to 50% (your norm) you'll be up a little instead of losing your keester because you increased and stayed there. If you are hitting at 45% then it would be time to increase till 50% then at 50% you will be up a little....People increase when due to lose and decrease when due to win. JMHO........ tweak a little to take advantage of the hot streak

bear

 

[IntenseOperator]

This depends on how many different sports you feel comfortable with handicapping. I only handicap college sports. But I don't bet them all season long. I prefer the first seven weeks of cfb and I begin in earnest with college hoops come conference play. This takes patience and discipline. This can also come about by having your backside handed to you when one wagers outside these boundaries.
QUOTE]

This has nothing to do with money management. Just wanted to chime in on what Buddy stated.

I believe a lot in not playing each sport for the whole season. It seems the middle third is generally when I do best, though not this year in foots (the obvious public favs are rolling this year). I'll generally make contrarian type plays. I think the middle third of the season is when the books have the best handle on the teams and set the best lines. The public is still very active after either winning or losing the 1st part of the season. The later third of the season public participation will drop for any sport due to loses or interest in another upcoming sport. Motivation by the participants in any sport is harder to cap the final third whether they are a weak team or a strong team. My dense train of thought seems least effective during this stretch.

I never parlay

may down the road if I can at least do better than 50/50 over the long haul

 

[IntenseOperator]

Start with a $1000 bankroll-bet exactly the way Worm44 does for a whole year-(nothing else)-you will have $10000 by the end of the year............thats how I do it.................

no disrespect Worm

but I think he's talking about a bankroll involving games HE CAPS

if a fat lady fell out of a plane right on top of you tomorrow (I hope not), many of MJ's top lurkers would be dumpster diving tomorrow and you would be very thin

others would still be able to get in their action and survive

 

[LuckyIrish]

Start with a $1000 bankroll-bet exactly the way Worm44 does for a whole year-(nothing else)-you will have $10000 by the end of the year............thats how I do it.................

yeah

 

[Jake DeNiro]

I think you have gereralized the scenario, but it could be effective breaking it down to seasons and then into months or weeks (not days).

Actually, you could fall into a situation where you are chasing money in order to meet your set goal, thereby betting more while losing :scared

Back to my question, how woud you propose to bet after a few consecutive losing days ? :shrug:

ScreaminPain, sorry I took so long in responding. I do break it down into seasons and put in the day thing just to show what the daily number would be for a person's focus. Without getting into a long winded story about why, my NBA for this season is 80 units. I do add to the games that I lost. I keep a "owed to me" sheet for my series of plays and rate them that way. As far a losing 3-4 days in a row, yes that's possible but the bankroll should be there to begin with. Tomorrow starts a new series and no matter what happens to-night, all my NBA tomorrow will be (.50*) plays and I go from there. If and when I have any (.50*) listed then I'm owed nothing. This last series wasn't right to the exact, because of a few screw ups, but this is what I do and am real comfortable with. When I lose a 4 unit play it goes into a seperate column to be used at later dates. I won't go making it a 8 plus play next time. Hope I answered the question. Later and GL :mj14:

 

[Jake DeNiro]

do the Lakers play every day..

That's funny.....it's more than $9 though :142lmao:

Best to you... :mj14:

 

[LasVegasErnie]

"Let me just throw this hypothetical betting strategy at you guys. What if......a man started out with $100, bets 10% each bet, 1 to 2 bets a day. For every $100 dollars he goes up, he increase his bets by $10. So, when he goes up to $200, his bets would be $22. He goes up to $300 his bets are now at $33, and so on. And lets just say, for the sake of argument, this guy hits his bets at around 80%, and has been since the first day of regular season NBA.All the time fluctuating 5% up and down from that 80% figure. Does this betting strategy sound feasible? Or could you be a little more aggresive considering your 80% strike rate?"

Does anybody have an opinion on this betting progression?
I do apreciate all the input guys, but it's not the handicapping I need the help with. It's trying to structure some kind of betting progression.

 

[IntenseOperator]

"Let me just throw this hypothetical betting strategy at you guys. What if......a man started out with $100, bets 10% each bet, 1 to 2 bets a day. For every $100 dollars he goes up, he increase his bets by $10. So, when he goes up to $200, his bets would be $22. He goes up to $300 his bets are now at $33, and so on. And lets just say, for the sake of argument, this guy hits his bets at around 80%, and has been since the first day of regular season NBA.All the time fluctuating 5% up and down from that 80% figure. Does this betting strategy sound feasible? Or could you be a little more aggresive considering your 80% strike rate?"

Does anybody have an opinion on this betting progression?
I do apreciate all the input guys, but it's not the handicapping I need the help with. It's trying to structure some kind of betting progression.

If you really want to find out which works the best, you could start out with separate bankrolls for each money management system. You would find your answer in time.