Money Management!!

[PsychoQ]

Okay guys here were goooo, i usually just bet here and there but come monday i am going to start to make some solid plays. Im a college student with not much money to bet games with. Im going to put 100$ on i know it doesn't seem like much but as you all have seen in my other posts i like to play high limit poker so i just would rather waste my money on that hehehe. Back to what i was talking about i'm to put 100 on,how should i do this should i make 2 50$ bets 5 20$ bets i just don't know there are so many different ways to bet i just wish i could figure out the most profitable way to make some money every night. I usually like to bet all my money i know thats bad but i just like the risk i think. I think i am going to really focus on money management this time around and see how i can do through out the rest of the ncca and nba seasons. I def think i am going to limit myself to the amount of parlays i play.. I would love to hear some feedback 1st plays will be posted monday around 5 or so.. Like i said i can't decide it i want to try my luck with 2 50$ ones or what...

[Machine Choice]

1. Take your bankroll and divide it by 11.
2. That amount is your first wager.
3. If you win twice in a row, increase your bet by half of the previous amount. (ex: $200 win, $200 win, $300 win, etc)
4. If you lose, divide your bankroll by 11 and start over. Never bet more than 1/11 of your bankroll during a losing streak.

Some people will claim that this is too aggressive. But read my own thread as a case study. When I rolled I profited hugely (more than $8,900, with initial bankroll of $4,000). When I went cold I never lost more than a total of $1,522 over the entire cold streak.

[PsychoQ]

Thank you very much sir.. Have a good week!!!

[Machine Choice]

Thank you very much sir.. Have a good week!!!

I will respond to your PM publicly so that others can see what I'm talking about.

Your bankroll is $100. (I think you should start with a minimum of $550, but nevertheless)....here's an example of how I would use your $100.

Bet 1: $9 (win)
Bet 2: $9 (win)
Bet 3: $14 (win, bankroll is now $120 assuming -110 vig)
Bet 4: $14 (loss)
Bet 5: $120 - $14 = $106/11 = $10 minimum bet (rounded up) (win)
Bet 6: $10 (win)
Bet 7: $15 (loss)
Bet 8: go back to 1/11 of your bankroll and start over

[PsychoQ]

So no matter what i have its always 1/11. Say im making my first bet that would be 9 dollars after i make that do i calculate how much i have and go from that . so after making that bet i have 91 thats goes to a $8.27 bet or should i always stay at 9

[Machine Choice]

So no matter what i have its always 1/11. Say im making my first bet that would be 9 dollars after i make that do i calculate how much i have and go from that . so after making that bet i have 91 thats goes to a $8.27 bet or should i always stay at 9

You bet 1/11 of your bankroll after a loss. When you're winning, you increase your bet by half of the previous wager. (ex: $9, $9, $14, $14, $21, etc...). When you lose, go back to 1/11th of your (new) bankroll and start building up again.

The advantage: if you can reel off some consecutive wins, you'll get a nice profit. If you lose a few games ina row, you'll never get really hurt because you never have more than 9% of your bankroll in play during a losing streak. Now, this assumes that you're only making a few plays each day and that they are solid. If you just want to throw money at a wall and hope for a big payday, I suggest the parlay.

[PsychoQ]

im over thinking this but say i hit a good run $9,9,14,14,21,21,32,32, just keep adding half onto that last bet rite?

[Machine Choice]

im over thinking this but say i hit a good run $9,9,14,14,21,21,32,32, just keep adding half onto that last bet rite?

Yes. On two occasions two years ago I won 12 in a row. My 12th wager (before losing) was $7,688.

[PsychoQ]

hahahahaha. good luck this week i will be keeping in touch..

[ICEMAN888]

Good sound advice Machine Choice. I personally use the Kelly Criterion and range my bet size depending on my perceived chance of winning. However, I may try out your money management technique.

[TurkzZ]

really nice system here Machine, i was interested in what you were using, thanks for posting it up.

[Bob Roberts]

Machine: that's a very nice strategy.... I usually flat bet, and adding a modified strategy of your money management scheme could really increase my earnings during a winning streak.... thanks for the input.

[darkenergy]

1. Take your bankroll and divide it by 11.
2. That amount is your first wager.
3. If you win twice in a row, increase your bet by half of the previous amount. (ex: $200 win, $200 win, $300 win, etc)
4. If you lose, divide your bankroll by 11 and start over. Never bet more than 1/11 of your bankroll during a losing streak.

Some people will claim that this is too aggressive. But read my own thread as a case study. When I rolled I profited hugely (more than $8,900, with initial bankroll of $4,000). When I went cold I never lost more than a total of $1,522 over the entire cold streak.

Thank you for this informative post. NOTED

[BiffTFinancial]

1. Take your bankroll and divide it by 11.
2. That amount is your first wager.
3. If you win twice in a row, increase your bet by half of the previous amount. (ex: $200 win, $200 win, $300 win, etc)
4. If you lose, divide your bankroll by 11 and start over. Never bet more than 1/11 of your bankroll during a losing streak.

Some people will claim that this is too aggressive. But read my own thread as a case study. When I rolled I profited hugely (more than $8,900, with initial bankroll of $4,000). When I went cold I never lost more than a total of $1,522 over the entire cold streak.

Thanks for the science, Machine. Much appreciated.

[Rick22]

Machine - Thanks for the input and your picks

[PsychoQ]

Can i not get a nice thread from someone i mean come on lol..

[Ditaln1]

Nice one Machine. Thanks for the input.