[u21c3f6]

Originally posted on 09/27/2010:

I've been trying to do this (sports betting) long term but have been failing. I have read that my bet size should not be more than 2% or so of my total bankroll, what is an acheivable or desirable goal that "pros" shoot for per month? I think I need to rethink my expectations as I try this once again. Any help would be greatly appreciated

IMO, this is putting the cart before the horse assuming the goal is to be profitable.

First, to be profitable, you must find an edge. No edge, no wager!

Once you have a verified edge, Kelly (or some fraction of) can help you determine the % of your bankroll to wager. The size of your bankroll, the % to wager and the number of wagers that you find in a month will determine the amount of profit you can produce.

To increase your profit, you must either increase your starting bankroll and/or find an edge that results in greater profits and/or find more wagers that have an edge and/or allow your bankroll to compound.

I do not have a monthly monetary goal per se. However, at certain points I draw down my bankroll to stay within my comfort zone and to stay within certain limits and or available market liquidity.

Joe.