Money Management Systems

[FortySix]

Just wanting to know what kind of money management systems some of you use.

I currently use one where I flat bet based on my bankroll (around 2% per single play) and once I have made 20% profit on my initial bankroll, I then start over again at my new bankroll limit. So lets say I have $5000 to start with, i would be doing $100 bets. If I hit 20% profit, then I would have $6000 bankroll and then I would start doing 2% bets based on $6000 ($120). I like this method because the same rule applies if you lost 20% of your initial bankroll as well. It kind of keeps you in the game for longer but I must admit, it does take time to build your bankroll higher. I only usually bet 1-2 games per day so I am looking for a new bankroll system.

[FortySix]

Anyone?

[DrUppercut]

Your bankroll system seems to be pretty solid, as most will say bankroll management is the key to gambling. You say it takes a while to build this way but also takes awhile to lose as well. I would think if you're not scared to lose your roll, and you want to make money faster, you could go up to 4%~ although I think your current system is superior.

[IBetYou]

Just throw caution to the wind. Bet what you want and then worry about it tomorrow

[FortySix]

Your bankroll system seems to be pretty solid, as most will say bankroll management is the key to gambling. You say it takes a while to build this way but also takes awhile to lose as well. I would think if you're not scared to lose your roll, and you want to make money faster, you could go up to 4%~ although I think your current system is superior.

Thank you for your reply DrUppercut. Might stick to it but like you said, might increase from 2% to 3-4 % per play as I don't usually make to many bets per week (around 4-7).. Thanks again.

[Semper Fidelis]

Honestly man it is totally dependent on what type of system you utilize for your plays. Your current strategy is completely fine, especially if it's working quite fine for you. Although it is a conservative system, it is much safer than many other BR management systems that are aggressive and place too much of your BR at risk. This style of BR management (wagering set % on each play) is widely known as the Kelly system. However, if you truly want to maximize your profits, there is actually a formula to use -- all you have to do is plug in your specific data to this formula to find the most efficient % to maximize profits; you just need to know the average odds of your plays are and approximate win % of your system based on how big or small your 'expected value' (or edge) is. Give me one min and I'll reply in a separate post what this formula is!

[IBetYou]

bankroll strategy is hugely insignificant next to win percentage. It doesn't matter too much. Just do what feels comfortable, and WIN.

[Don_Omarion]

If i were you I would do the same thing but never change my single bet value to $120 .. no big difference

stay at $100 so that you can manage the loss and the win easily .. I started with $100 @ 10 Units = $10 per unit and now I have $560 and Iam betting the same unit stake which is $10 per play .. you can just increase the units number per play depending on being sure about your play , and this happens only when you watch teams before you bet on them not just follow public or results