Cashflow management

**durito** · 06-23-09, 04:15 PM

I keep money for the next 2 years of living expenses put aside from my bankroll. That's probably excessive, but it's what I'm comfortable with.

**MadTiger** · 06-23-09, 04:24 PM

This is from a professional business consultant:

You should keep 6-12+ months living expenses set aside NO MATTER WHAT BUSINESS you are starting.

Not just for gamblin' businesses like sportsbetting, poker, etc., but also those boring businesses like landscaping, car washes, etc.

This turns your problem into a non-problem.

But, to answer the question: you have to be on the ball. Part of being in business is attacking problems like this. You simply must have several sportsbook accounts going. You have to prioritize your goals, as well. If completing a rollover is important to you, you may have to forgo depositing into account #3 for a month, e.g.

You need to plan your withdrawal schedule, and coordinate between your accounts.

**TomG** · 06-23-09, 06:31 PM

Gambling is unique because it uses cash is the main business asset. Landscapers use cash as working capital, but they also maintain an inventory of tools, supplies, trucks, etc. A bad couple of months in the landscaping business and you'll still have those assets. A bad few months of gambling and the assets disappear and your ability to continue to make money gambling will shrink.

That's why most gamblers are cheapskates who don't like to spend money. A $100 steak dinner for two is not only expensive, but it can't be turned into $200 if the Texas Rangers come up huge that night.

**Art Vandeleigh** · 06-24-09, 04:55 AM

Originally posted by TomG

That's why most gamblers are cheapskates who don't like to spend money. A $100 steak dinner for two is not only expensive, but it can't be turned into $200 if the Texas Rangers come up huge that night.

If anyone has thoughts on integrating futures betting ( let's say 2 months to one year) into overall cashflow management would like to hear about that.

**cocknocker** · 07-05-09, 01:08 AM

Originally posted by MadTiger

This is from a professional business consultant:

You should keep 6-12+ months living expenses set aside NO MATTER WHAT BUSINESS you are starting.

Not just for gamblin' businesses like sportsbetting, poker, etc., but also those boring businesses like landscaping, car washes, etc.

This turns your problem into a non-problem.

But, to answer the question: you have to be on the ball. Part of being in business is attacking problems like this. You simply must have several sportsbook accounts going. You have to prioritize your goals, as well. If completing a rollover is important to you, you may have to forgo depositing into account #3 for a month, e.g.

You need to plan your withdrawal schedule, and coordinate between your accounts.

You know I was scrolling down the page and then I stopped at your entry because that is the point that I was going to make. You have to have seperate books and I believe one of those books should be used to tap into for deposit bonuses at other reputable sportbooks. Meaning that if you have money in one book (C) and then book B has a promotion where they offer a monster bonus, then I i'll use some of the money from (C) to start another account with cream on top. Then I will make the most bullshit plays on this account for the least amount of money that I can until the play requirement is done,and then i will skim cream off the top or move the whole thing to another book tht has a football bonus going. I was so slick that one time a guy that I talk to on the inside of a particular sportbook let me know that there was going to be a 20% cash bonus (not freeplay, cash) deal coming up in a while. So I yanked my money out and then waited those couple of weeks and then put that same money back into their book with the bonus in top.

If you're not afraid to move your money around you can get free money all year round just from skillfully placing it.

I use other books specifically for system plays so as to see the full amount of profit from playing it that i can without any cut on it. Of course I play the hell out of some craps too!

I don't suggest a person receive checks from sportbooks. If you can, get your money via moneygram and in intervals under $2500.00

Another thing is that a person should have a target in mind when it comes to a month of wagering with respect to HOW many bets are made. You figure that there are 30 days in a month on average. A hundred dollar player realistically only needs to have a target of $3000.00 a month. The mindset being here that the bettor only needs to win $100.00 a day to be supremely successful. Now we all know how hard it will be to do that putting up only $100.00 a day. I think that it would be best to make 3 wagers a day with the idea of making that one unit, and happy as hell to go 3-0. But it is actually a lot easier to go 3-0 when you're only making 3 disciplined plays a day as a rule. The synergy will get you used to grading your picks harder.

So the figure that I would have for a person in a $100.00 bettor role would be to make no more than 100 bets in that month just to give a little wiggle room, 90 if strict.

As far as a person having 6-12 months of living expenses lying around, that ain't happenin' in this economy. That's why I assume that when I have people tailing me that some of these guys out there are joes but at the same time they are trying to have some extra money to feed their families. You can tell by the frustration in their comments if they should happen to lose once when they used poor money management and went bigger than they should have on a wager. Basically forgetting all of the discipline it took to win the money in the first place, all in the name of one play.

It takes your breath away and actually hurts when a guy tries to go deep and is intercepted.

My next door neighbor had a thriving business that went under due to the recession. The market for what he was doing was completely wiped out. The savings/ nest egg that he had put to the side for all of those years got dipped into until it was all gone. And forget about his 401K. Luckily he had something to fall back on ( you didn't think I would let him fall like that did ya? Of course I give him picks!) and his wife got on at a local company with some perks from the Missus and her friends.

When I saw it hit home right here in my own neighborhood I knew that the recession was serious.

So I don't think that it is reasonable to automatically assume that the average person who comes to the threads will have those kinds of dollars lying around. I mean my neighbor was paperd DOWN. But that's how it started.

Then people who had been here since before I moved here started getting forclosed on. The homes here aren't cheap, although mine went down in value some $200,000.00 because f*ckers were doing short sales and bailin' out or whatever. There are 6 houses in the cul de sac here and 2 are up for sale and 1 of them has been up for sale for almost a year now.

I think that it is a travesty that the average person would not come over here and get such good information as this panel is giving before they would trash someone's pick.

You guys have to it, laters!

**Peep** · 07-06-09, 01:26 AM

I really think you are putting the cart before the horse if you are worrying about cash flow management before you find out you are a winning player.

IF you are a winning player, cash flow mangement will help you. If you are not, it will not save you.

So... I would say make a few series of 100 bets for small stakes, get an idea of how your win percentage is, if you are up or down money etc, FIRST. Until you get that part of the wagon fixed, you ain't going nowhere.....

**Team Ramrod** · 07-06-09, 09:06 AM

[quote=cocknocker;1999329]

I don't suggest a person receive checks from sportbooks. If you can, get your money via moneygram and in intervals under $2500.00

Why is that?

**donjuan** · 07-06-09, 10:46 PM

Another thing is that a person should have a target in mind when it comes to a month of wagering with respect to HOW many bets are made. You figure that there are 30 days in a month on average. A hundred dollar player realistically only needs to have a target of $3000.00 a month. The mindset being here that the bettor only needs to win $100.00 a day to be supremely successful. Now we all know how hard it will be to do that putting up only $100.00 a day. I think that it would be best to make 3 wagers a day with the idea of making that one unit, and happy as hell to go 3-0. But it is actually a lot easier to go 3-0 when you're only making 3 disciplined plays a day as a rule. The synergy will get you used to grading your picks harder.

Yeah, 33% ROI is realistic. LOL.

**DukeJohn** · 07-07-09, 09:48 AM

Originally posted by donjuan

Yeah, 33% ROI is realistic. LOL.

IDK... I think that is very realistic in this high risk business, maybe not the model describe above, but the overall ROI... I mean, afterall, with high risk comes high reward. I know I do much better than 33% ROI, however maybe I just have been lucky...

**Peep** · 07-07-09, 11:23 AM

LOL to the 33% ROI guys.

So for every dollar you bet you get an average of $1.33 back?

Wow. How long have you been doing this for. By my calculations, you should be a millionaire in a year or two. Congratulations! If I could pick that good, why, just starting with $100 I would

1) Have $133 on day two.
2) Have $176 on day two.
3) Have $234 on day three.

More than doubling my capital every three days. Very nice indeedy.... MUCH BETTER THAN THE CRAZY MORRISON GUY DOES!

**donjuan** · 07-07-09, 12:17 PM

IDK... I think that is very realistic in this high risk business, maybe not the model describe above, but the overall ROI... I mean, afterall, with high risk comes high reward. I know I do much better than 33% ROI, however maybe I just have been lucky...

Talking about ROI per dollar bet, not ROI on bankroll for the year. Read the context of the post.

**LT Profits** · 07-07-09, 04:46 PM

10% ROI on a per dollar bet basis is excellent. Anyone that expects much higher than 15% (and that is stretching it) long term is delusional.

**Pancho sanza** · 07-07-09, 04:58 PM

Originally posted by LT Profits

10% ROI on a per dollar bet basis is excellent. Anyone that expects much higher than 15% (and that is stretching it) long term is delusional.

i doubt anyone achieves 10 % long term

15 %, not happening.

**DukeJohn** · 07-07-09, 09:50 PM

Originally posted by donjuan

Talking about ROI per dollar bet, not ROI on bankroll for the year. Read the context of the post.

ah, yes I was referring to bankroll for the year. You are correct, I didn't really read that part of the post. Still haven't read that part, but if the poster believes a 30% ROI per day or bet (on a continued basis) is possible then that is just mind boggling crazy.