Intimidating

[Aristocles]

Although I am plenty old enough to know that we are all in varied states vis a vis our free cash, these folks really surprise me with their wagering amounts. Makes me feel kind of pathetic. . .

I just wonder if picking a few games (~5) a week and betting very modest amounts is frowned upon by many as trivial or if most folks view the whole issue as a sort of "Salud! And Best Wishes" to anyone giving it a go?

Another thing I was wondering is: what do other 'newbs' wager?

Great forum! Even got me brushing up on some Probability and Statistics skills from many years ago in college.

[ok now what]

1) Don't be surprised. I've been around betting folk long enough to know that 1/3rd to 1/2 the amounts people state are LIES. Those who publish their full record can be trusted a little more, but you still need to keep the focus on YOUR bankroll.

Sometimes, the true number is much lower, and once in while, the number is much GREATER. A confident bettor doesn't need to discuss their $$ most of the time.

2) An intelligent bettor does not frown upon the sizes of other people's wagers. First, they are too concerned with their own work to care much. Second, an intelligent wager may well be just $5 based on available resources. If you thought out your pick, used the tools that help make greater decisions, and came to the conclusion with effort, that $5 is just as important as the $1000. It's more important. It's YOURS. An educated bettor respects others in the game. A cocky little SOB won't.

2a) In my blog, I work all the time with the "mythical twenty units" to measure the way I'd suggest betting an event. You'll often hear talk of "units" instead of dollars. This is intended to help you make the right decision based on YOUR bankroll, whatever it may be.

3) You wager what you can afford that causes no stress. Do not get caught up on what amounts other "newbs" are betting.

"Salud! And Best Wishes"

[Aristocles]

Enjoy the games, friend. I am going to sit in front of my Mits HC3800 and watch the games on a 120" screen in 1080p, actually I suppose it's 1080i as per the HD signal Stoked!

[LarryF]

Follow the old saying, bet only what you can afford to lose. Sports betting should be fun.

[DukeJohn]

Although I am plenty old enough to know that we are all in varied states vis a vis our free cash, these folks really surprise me with their wagering amounts. Makes me feel kind of pathetic. . .

I just wonder if picking a few games (~5) a week and betting very modest amounts is frowned upon by many as trivial or if most folks view the whole issue as a sort of "Salud! And Best Wishes" to anyone giving it a go?

Another thing I was wondering is: what do other 'newbs' wager?

Great forum! Even got me brushing up on some Probability and Statistics skills from many years ago in college.

In sports betting, for me, it is all about your percent of return on your bank roll, not the size. Sure it is nice to have a huge bank roll, but the guy with a $1000 bank roll returning 20% is doing much better than the guy with $100,000 bank roll returning 10%, at least in my book. I personally bet very conservative risking a very small percentage on my day to day bets. After all, if I lose my bankroll, then how will I pay the bills? The bankroll is sacred and should be treated as such.

However, if this is just something you are doing for fun then as LarryF said, "Sports betting should be fun." Don't worry what the other say or think. If you decide to go full time with this and make it your career, then you can start looking into the whole betting a maximum amount of games to discover what is the most efficiency money management strategy to maximize your return on your investment, but til then, enjoy the spirit and fun of sports betting.

Best of Luck,

[unusialsusp5]

no one really cares how much someone else bets. those that bet the most go broke sooner.

[Aristocles]

no one really cares how much someone else bets. those that bet the most go broke sooner.

Touche!

Wishing success to all. . .

[Bill Dozer]

It's really all relative. What is exciting for most people might not be exciting for others. Michael Jordan had to bet a lot because he didn't get a charge off of betting what we bet. If you can gamble without the amount the factor in if you can enjoy the wager, you'll be much happier on Tues AM. All gamblers lose and the majority of investors do too, and often lose more.

[Dark Horse]

Two ways of looking at bet size. One is Kelly, or fraction of Kelly. Its goal is to maximize profit. Its requirement is that you know your edge, precisely, for each wager.

The other way is emotion-based. Say you would lose ten bets in a row. How much money would the total loss have to be for you to start feeling depressed? Think about that until you really pinpoint that number. Divide that amount by ten, and you have your bet size.

If you bet small amounts the last method won't have much of an impact. But when your bankroll grows you may find it helpful. Don't be surprised if the bet size comes in somewhere around 1% of BR.

[Aristocles]

Two ways of looking at bet size. One is Kelly, or fraction of Kelly. Its goal is to maximize profit. Its requirement is that you know your edge, precisely, for each wager.

The other way is emotion-based. Say you would lose ten bets in a row. How much money would the total loss have to be for you to start feeling depressed? Think about that until you really pinpoint that number. Divide that amount by ten, and you have your bet size.

If you bet small amounts the last method won't have much of an impact. But when your bankroll grows you may find it helpful. Don't be surprised if the bet size comes in somewhere around 1% of BR.

Ghost in the machine, eh

Interesting posts, both yours and Bill's. It seems that the 1% thing is something I am/will follow.

Bill: It's all about fun for me. Hell, I enjoy getting pissed at myself

[MexicanStallion]

You have had plenty of responses so far, but to add one more. Don't worry about what people are betting. Half of the people could easily be lying. Bet what you can afford, whether its $5 a game or $50 etc. Best of luck

[Aristocles]

Well, I hope I don't go bust, learning

[frankbettor]

So what if you go bust? If you can afford to lose it than it doesn't matter. Seriously consider why you are doing this and when you come up with an honest answer to that question the other questions you have regarding other individuals bankrolls will become irrelevant. Enjoy!

[Aristocles]

Assuming this is not tongue-in-cheek:

" So what if you go bust? If you can afford to lose it than it doesn't matter."

Of course it matters! If I can afford to lose a thousand and still pay my bills and take care of my family, does this mean I should light a candle with the thousand?

It matters in wagering if for nothing more than wanting to win (the competitive nature possessed by most human beings) and the kind of "thrill" one gets from putting up actual cash, albeit small or large.

As for why I am doing it, cf. above. And my original question involved forum usage for the most part, although tis obvious that it did not come across that way. I was curious about the wagering amounts because I did not want to bore folks with my posts. But alas, with time I have seen and understood "sbrforum". It is clear to me that I enjoy, and will enjoy, this place and that folks are of all kinds here, in many ways.

Thanks, enjoy yourself also