Money Line and Money Management

[Vicente]

Hey pals! I am a new here, and I am not a native English speaker, so sorry for my mistakes. I have a little revenue from betting (I've been betting for 1 year), but now I want to attend to it more time and money and do this more professional. And I have two questions which make anxious me long time.

1) First question is about Money-Management. I read Miller's book about betting on NFL and there was a chapter about Money Management. I think many people here know it, but briefly you wager 2.2% from fixed level of your deposit. For example 2.2 from 3000, when you will have 4000 you change your size of bet and etc. And another important feature that you have risk 110 to win 100. Basically I bet on soccer, and I've never bet less 1.91 ( in European system, in American I guess it is -110 ). I can bet +220 and etc, but less than -110 never. So what do you think guys? How this system is good? Which adv and disadv?

2) And another question which I want to ask about money line. SportBook put their line is based on statistics,and when players wager money money line starts moving,and if for example +110 begin -110 (2.1--> 1.9 ) can it be a sign to bet on this event? I mean, it can be a one of ways to define where "smart money" go.

Thank you! It is the coolest site!

[allin1]

1. learn about kelly criterion
2.2% can be too much depending on what you are betting and why

2. if someone bets +110 and the line closes at -110 then yes, the bet at +110 is smart money, but that doesn't mean that if you bet at -110 it is a smart bet.

you need to search the forum to learn about closing lines, lines movement, beating the closing line, implied probability, and especially value bets

[allin1]

1.http://www.youtube.com/watch?v=IyATmCJf4fc

2.
http://www.youtube.com/watch?v=Up2AFYzs3g4

http://www.youtube.com/watch?v=gH-aCkLkpOI

[Vicente]

Thank you very much!

[Joey Blaze]

thanks for the info allin1

[Vicente]

I've tested kelly criterion sometime, and I think it is a way go you into bankruptcy. I am sure that the best strategy is fixed bets and increase them then your bankroll is also increased (for instance after 25% increase of your bankroll you also increase bets, and bets should be 1 or 2% of your bankroll). But it is what I am thinking and thank you anyway!

[Vicente]

I think everyone should read Miller's book

[Jentho]

to reduce risk you should bet a fraction of kelly, rather than full kelly.