How do you manage your money?

[Mahowny82]

Hello SBR members !

I mostly bet in play ( live betting ) but I have zero money management.

I'm looking for a good and or fun money management system.

What works for you? How do you manage your money?

[freeze]

Hey mahoney

[JOHON8]

Go to google and search money management. Lots of tips out there.

#1 thing to remember is to be disciplined. You will lose money and you will feel horrible about it at the beginning, but you have to learn to control your emotions otherwise you have to stop gambling.

[TTA_President]

Are you talking about your bankroll?

[Zak]

Decide what percentage of your bankroll you are prepared to lose in a day and stick to that limit - keep it as simple as that.

[bobbyfk]

be disciplined and dont chase

[doublej95]

bet 2%-3% of your bankroll per bet.

[LarryF]

1% equals one unit.

[rki999]

bet 2%-3% of your bankroll per bet.Know the rules nd Stay on recomended list

[WorkHorse]

My advice Mr. M would be this. (For example college football season)

1. Determine your bankroll before the season starts. (say $5000)
2. Bet accordingly, always betting the same amount every game. ($50, $100, $200, $300, etc.)
3. Never, ever, get involved in the UNIT losers bullshit.

Example: Lose one 5 unit game and win four 1 unit games. You have just gone 4-1 (80%) on the day and you are a LOSER. Suckers play units.

Took me a lot of years to learn money management...now it's simple. Set a bankroll, if you lose it, STOP playing. Bet every game the same amount for the season and you have a chance if you are half way good at capping a sport. GL Bud.

[mrmarket]

Stop calling it a bankroll until you've established an edge. Call it a budget and risk enough to make you care but not enough to hurt your lifestyle when you lose it all.

[WorkHorse]

Bankroll...Budget...What the wife will let you have....Daddy's college allowance....Drug money....etc., who gives a shit.

"Risk enough to make sure you care but not enough to hurt your lifestyle when you lose it all."
Now thats solid my friend.

[mrmarket]

Bankroll...Budget...What the wife will let you have....Daddy's college allowance....Drug money....etc., who gives a shit.

There is a differentiation in the language for a reason. If you don't care to separate the terms that is your prerogative but simply stating they are the same does not make it so.

[WorkHorse]

Well there Market, I'm from Alabama and only have an eight grade education in words...I do have a masters in gambling for over forty years. Forrest Gump to you Bud.

I just trust our friend Mchowny82 got something positive from his question.

[grantingyou]

My advice Mr. M would be this. (For example college football season)

1. Determine your bankroll before the season starts. (say $5000)
2. Bet accordingly, always betting the same amount every game. ($50, $100, $200, $300, etc.)
3. Never, ever, get involved in the UNIT losers bullshit.

Example: Lose one 5 unit game and win four 1 unit games. You have just gone 4-1 (80%) on the day and you are a LOSER. Suckers play units.

Took me a lot of years to learn money management...now it's simple. Set a bankroll, if you lose it, STOP playing. Bet every game the same amount for the season and you have a chance if you are half way good at capping a sport. GL Bud.

Fundamentally this is bad advice. You should bet between .5% - 2.5% of your bankroll, depending on the edge that you have on a particular game. Your bankroll should change, ideally every betting session, but for sure weekly.

If you have handicapped a game to have a 55% chance of winning then it might be a .5% of your bankroll, and if you have a game where you believe you have a 80% chance of winning, then you should bet more. NO GAME is EVERY worth 2.5x times your normal 1% wager.

Also, in bases don't bet like a sucker. Laying -150 to win 1 unit is moronic as you are letting the book control your risk. You should lay $100 to win the comeback or $67 in this case. I promise you, in the long run you will win more doing this, or if you are a long-term loser, you will lose less.

In due time your bankroll will grow.

[WorkHorse]

Horseshit...it you can determine such an edge just like the unit better. Why in the hell would you bet less on one game and have this great game you could hammer with. Hell, bet it all on the big one and forget the little biddy .05 or whatever crap. These con-artist make me laugh. I have a 5 unit and 37 one units. OK, why don't you take the 37 one unit games you are not sure of and add to the GOLDMIND 5 unit game and make it a 42 unit play.

Stupid ass loser....I'm sorry..no other way to put it.

You are nothing more than a UNIt better and GOOD LUCK to you sir.

[grantingyou]

Horseshit...it you can determine such an edge just like the unit better. Why in the hell would you bet less on one game and have this great game you could hammer with. Hell, bet it all on the big one and forget the little biddy .05 or whatever crap. These con-artist make me laugh. I have a 5 unit and 37 one units. OK, why don't you take the 37 one unit games you are not sure of and add to the GOLDMIND 5 unit game and make it a 42 unit play.

Stupid ass loser....I'm sorry..no other way to put it.

You are nothing more than a UNIt better and GOOD LUCK to you sir.

First of all, I was not rude to you. I just disagreed. Assume, 1 unit is a normal play, I would never have anything EVER more than 2.5 units ro 2.5 x normal. This play only happens 1-2 a season.

If you are a good handicapper, you do put a % of edge on a game. This should align with the % of bankroll you are willing to risk.

If you bet the flat amount on every game, you will not enough money on the games that you have the bigger edge on, AND you loose more money on the games that you don't have a big edge on. It's simple!

I started out years ago, with a decent size bankroll, and now my bankroll is much larger. In fact, I cap my bankroll. I don't play very large amounts, but I do make a good living at this.

Don't be rude, it's just healthy discussion.

[Zuon]

The money management make the difference for me.
Everyone can have a 50-52% of winning bet, but only if you have rigorous MM your bank can survive.

[ClayMaker5252]

can you win things

[Sawyer]

Agreed about flat betting here. There shouldn't be a dramatical difference between your units imo because you can't know which play will win and which play won't win.

My question is,

Your picks with higher stakes/confidence are winning more often?

If your answer is yes,

Then why you pick plays with low confidence? Just play your best bets!! Why you reduce your overall profit?

If your answer is no,

Why you bet less on these?

Either way, you'll come to agreement, lol.

[grantingyou]

Agreed about flat betting here. There shouldn't be a dramatical difference between your units imo because you can't know which play will win and which play won't win.

My question is,

Your picks with higher stakes/confidence are winning more often?

If your answer is yes,

Then why you pick plays with low confidence? Just play your best bets!! Why you reduce your overall profit?

If your answer is no,

Why you bet less on these?

Either way, you'll come to agreement, lol.

Yes, my higher rated plays win at a higher %.

2.5 Units are about 80% winners (Again, these only have 1-2 per season)
2.0 Units are about 70% winners (This happens 5-6 times per season)
1.5 Units are about 65% winners (About 15% of my plays)
1.0 Units are about about 58%-60% (About 50% of all my plays)
.75 Units are about about 56%-56 (About 20% of my all my plays)
.5 Units are about 53%-55% (About 10%-12% of my plays)

[Sawyer]

This sample is too small. You need a bigger sample size.

Also, Remember winning rate is not important. The only thing matters is Total Profit. (Total Units won)

There may be a period where your plays with big confidence win often but what's situation over long haul? I'm talking about 1000-2000 plays here..

GL All!

[wiffle]

Yes, my higher rated plays win at a higher %.

2.5 Units are about 80% winners (Again, these only have 1-2 per season)
2.0 Units are about 70% winners (This happens 5-6 times per season)
1.5 Units are about 65% winners (About 15% of my plays)
1.0 Units are about about 58%-60% (About 50% of all my plays)
.75 Units are about about 56%-56 (About 20% of my all my plays)
.5 Units are about 53%-55% (About 10%-12% of my plays)

what was your money management strategy yesterday in the casino. nice job. can i have 500 points lol

[grantingyou]

This sample is too small. You need a bigger sample size.

Also, Remember winning rate is not important. The only thing matters is Total Profit. (Total Units won)

There may be a period where your plays with big confidence win often but what's situation over long haul? I'm talking about 1000-2000 plays here..

GL All!

What do you mean small sample size? I have used this money management for 18 years. I have thousands of games in. I can tell you like clock work that overall, I am going to hit 56%-59% of my plays.

[wiffle]

What do you mean small sample size? I have used this money management for 18 years. I have thousands of games in. I can tell you like clock work that overall, I am going to hit 56%-59% of my plays.

how big is your mansion?

[Sawyer]

%70-80 Winners over 18 years? Yeah, Donald Trump is your neighbor I guess, huh? LoL.

[casola]

How did you win over 50000 points ins the casino, that is impressive. Always thought the sbr casino was rigged

[grantingyou]

%70-80 Winners over 18 years? Yeah, Donald Trump is your neighbor I guess, huh? LoL.

I never said 70 or 80% winners? I said my 2.0 - 2.5 unit play hit that, but their are only 4-6 of those in a YEAR!

I will hit anywhere between 56%-59% in Foots and Baskets.

[tonycarr]

interesting read.