Newbie question about Money Management

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  • khurnz
    SBR Rookie
    • 09-14-13
    • 3
    #1
    Newbie question about Money Management
    Hello SBR

    My name is Kevin and right now I get picks emailed to me from a handicapper but I havent really been keeping up with the picks. Just recently I signed up for College and Pro football picks so Im getting back into. So my question is there a standard rule of thumb when it comes to how much you put on each wager? Not sure if anyone is familiar with the Bet 1, Bet 2, and Bet 3 system that my handicapper uses. Bet 1 has a certain percentage of winning and if it doesnt then there would be a Bet 2 that follows and a Bet 3 if needed. If the Bet 3 is wrong then it goes back to Bet 1 but that has rarely happened. Any information/feedback would be great thanks!
    Tags: None
    • McCarthyFam
      SBR MVP
      • 07-06-11
      • 1700
      #2
      Most successful bettors will bet 2-3% of there bankroll. It's up to you to determine that though. It sounds like this guy you're getting picks from is just chasing. It seems like if he loses bet 1, he'll increase bet 2 to cover loss of bet 1. Same for if both of those lose. He'll tell you to increase bet 3 to cover losses of bet 1 and 2. This is not a smart move. You're best to just bet a consistent amount that you're comfortable with. If his bet 2 and 3 are supposed to be stronger picks, grade them accordingly. For example: if you're bankroll is 1000. Make your bet 1: $10-15 bet 2:$20-25, and bet 3: $30

      this is just my personal opinion. I hope this helps! Good luck!
        Comment
        • khurnz
          SBR Rookie
          • 09-14-13
          • 3
          #3
          Originally posted by McCarthyFam
          Most successful bettors will bet 2-3% of there bankroll. It's up to you to determine that though. It sounds like this guy you're getting picks from is just chasing. It seems like if he loses bet 1, he'll increase bet 2 to cover loss of bet 1. Same for if both of those lose. He'll tell you to increase bet 3 to cover losses of bet 1 and 2. This is not a smart move. You're best to just bet a consistent amount that you're comfortable with. If his bet 2 and 3 are supposed to be stronger picks, grade them accordingly. For example: if you're bankroll is 1000. Make your bet 1: $10-15 bet 2:$20-25, and bet 3: $30

          this is just my personal opinion. I hope this helps! Good luck!
          Yea I even went into excel to try and figure that out but that didn't work because I don't know what the odds will be on the future games/picks etc. Thanks for the feedback I'm definitely going to go with the percentage method, just needed some reassurance.
            Comment
            • easyliving
              SBR Hall of Famer
              • 06-25-12
              • 8876
              #4
              never pay for picks, if your not gonna make your own picks why are you gambling to begin with? takes all the fun out of it.
                Comment
                • khurnz
                  SBR Rookie
                  • 09-14-13
                  • 3
                  #5
                  Originally posted by easyliving
                  never pay for picks, if your not gonna make your own picks why are you gambling to begin with? takes all the fun out of it.
                  I went 4-0 yesterday that was pretty fun. Any advice on the money management question from my original post?
                    Comment
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