What money management are you using?

[iceman02]

Flat or different size units?

[tony_come]

Three bags of recycling a day.

[Ralphie Halves]

Labouchere

[Foxx]

I usually flat bet, unless I am drinking then whatever I can push in.

[iceman02]

Labouchere

What is that?

[Ralphie Halves]

What is that?

(Another long Ralphie post, here we go)

https://en.wikipedia.org/wiki/Labouch%C3%A8re_system

My lines for example are 10-10-10-10, and all I'm trying to do is win $40 and move to my next line. Your bet is the sum of the outermost numbers, so your first bet is 20. If you win, you cross out the outermost numbers, and your line now looks like this:

10-10

Your bet is 20 again. Let's say you lose. Put that 20 on the end, and your line is now

10-10-20

Your bet is now 30. Go until the line is gone, and you'll win $40 minus juice. Over time, you'll have to make a line just for juice covering, but that's fine.

So after I cross off the whole line, I make another line of 10-10-10-10 and do it again. As your bankroll builds, you can bump it to 10-10-20-10, and go incrementally from there.

I've been doing it for 5 years, and am up nicely. It's too slow for most people, but most people are losing gamblers.

People will try to tell me it's a flawed system and it's based on martingale, so that's bad, but they can never explain how. They just like closing their eyes and parroting what they heard somebody else say. And long term they lose and I don't so there's that.

Lines do get a bit out of control, but if you stay with it, they do go away. You have to have a sizable bankroll to start with so you can absorb these lines, but if you have solid plays, they don't happen that often. Make sure they're as close to -110 as possible.

And I never ever parlay or play futures because it's set up for you to lose horribly. The odds are terrible. Most of your fun bets are.

[rkelly110]

Fibonacci. 1 1 2 3 5 8 13 21 34 55 89 144

https://en.wikipedia.org/wiki/Fibonacci_number

[jjgold]

same bet size every play

2% of roll

[Jayvegas420]

I use the "Borrow, Bet, Lose, Stiff" money management system.

[Sledge187]

I know a decent looking chic that keeps all her poop in jars. Almost broke 2/11/09.....was never allowed in the game room again.

[Smoke]

All in every bet

[JMon]

Usually warm up with a sixer and then make my decision for the day. If it goes down good, my unit size increases.

[SharpAngles]

Big fan of rubberbands here...

[packerd_00]

I like flat betting to be honest. I use to do different size bets at the start and it never worked out for me, so I needed to change things up.

[blackHIPPY]

flat bet but i bet too much of my bankroll

[Jayvegas420]

Big fan of rubberbands here...

Smokey, tell me more about these rubber band plays

[bigtymer56]

(Another long Ralphie post, here we go)

https://en.wikipedia.org/wiki/Labouch%C3%A8re_system

My lines for example are 10-10-10-10, and all I'm trying to do is win $40 and move to my next line. Your bet is the sum of the outermost numbers, so your first bet is 20. If you win, you cross out the outermost numbers, and your line now looks like this:

10-10

Your bet is 20 again. Let's say you lose. Put that 20 on the end, and your line is now

10-10-20

Your bet is now 30. Go until the line is gone, and you'll win $40 minus juice. Over time, you'll have to make a line just for juice covering, but that's fine.

So after I cross off the whole line, I make another line of 10-10-10-10 and do it again. As your bankroll builds, you can bump it to 10-10-20-10, and go incrementally from there.

I've been doing it for 5 years, and am up nicely. It's too slow for most people, but most people are losing gamblers.

People will try to tell me it's a flawed system and it's based on martingale, so that's bad, but they can never explain how. They just like closing their eyes and parroting what they heard somebody else say. And long term they lose and I don't so there's that.

Lines do get a bit out of control, but if you stay with it, they do go away. You have to have a sizable bankroll to start with so you can absorb these lines, but if you have solid plays, they don't happen that often. Make sure they're as close to -110 as possible.

And I never ever parlay or play futures because it's set up for you to lose horribly. The odds are terrible. Most of your fun bets are.

Just some friendly advice...dont get too cocky. With all chase systems, it only takes one bad prolonged run to bury you. Maybe you'll get lucky and you'll never see that deadly streak, but it isnt something that is impossible, otherwise everybody would do it.

[BuckyOne]

(Another long Ralphie post, here we go)

https://en.wikipedia.org/wiki/Labouch%C3%A8re_system

My lines for example are 10-10-10-10, and all I'm trying to do is win $40 and move to my next line. Your bet is the sum of the outermost numbers, so your first bet is 20. If you win, you cross out the outermost numbers, and your line now looks like this:

10-10

Your bet is 20 again. Let's say you lose. Put that 20 on the end, and your line is now

10-10-20

Your bet is now 30. Go until the line is gone, and you'll win $40 minus juice. Over time, you'll have to make a line just for juice covering, but that's fine.

So after I cross off the whole line, I make another line of 10-10-10-10 and do it again. As your bankroll builds, you can bump it to 10-10-20-10, and go incrementally from there.

I've been doing it for 5 years, and am up nicely. It's too slow for most people, but most people are losing gamblers.

People will try to tell me it's a flawed system and it's based on martingale, so that's bad, but they can never explain how. They just like closing their eyes and parroting what they heard somebody else say. And long term they lose and I don't so there's that.

Lines do get a bit out of control, but if you stay with it, they do go away. You have to have a sizable bankroll to start with so you can absorb these lines, but if you have solid plays, they don't happen that often. Make sure they're as close to -110 as possible.

And I never ever parlay or play futures because it's set up for you to lose horribly. The odds are terrible. Most of your fun bets are.

I guess I know it by the cancellation system - but Labouchere - Fibonaci - Martingale - they can all get to big numbers. You get those 10's crossed off you can lose your butt on a bad choppy streak. Where is your stop loss limit if you start with those 4 tens - like 200 and start over?

[jjgold]

So many different theories on what works and what doesn't work with money management who the heck really knows

[BuckyOne]

Nobody has mentioned Kelly criterion. % of bankroll type of bet amounts. I guess I just flat bet but Kelly would work great if you could calculate the value or advantage you had on a given bet.

[iceman02]

Nobody has mentioned Kelly criterion. % of bankroll type of bet amounts. I guess I just flat bet but Kelly would work great if you could calculate the value or advantage you had on a given bet.

How does it exatly work? Any one use this who have longterm success?

[trytrytry]

How does it exatly work? Any one use this who have longterm success?

This is really important to understand, and get a "feel for the logic" of it anyway, you dont really have to make a true calculation Kelly every wager / every bet. But to at least understand/appreciate the math and logic and get a feel for bet size based on offered odds and probability of winning is critical for long term bankroll growth.

[GunShard]

I recommend this betting style:

Bet less than 5% of your current total bankroll.
If your total bankroll is $2000.
5% of your $2000 is $100.
If you lose your $100 bet, now you have $1900.
5% of your $1900 is $95.
Now you bet $95 instead of $100 because of your total current bankroll has changed.
Bet like this and you can either slowly gain or slowly lose but can never be completely broke.

[BuckyOne]

How does it exatly work? Any one use this who have longterm success?

It is worth a google search - you will even find a Kelly calculator - plug in your bankroll - expected win rate, etc. - the main idea is % of bankroll - increase your bets when you are winning - decrease when you are cold.

[Ralphie Halves]

I guess I know it by the cancellation system - but Labouchere - Fibonaci - Martingale - they can all get to big numbers. You get those 10's crossed off you can lose your butt on a bad choppy streak. Where is your stop loss limit if you start with those 4 tens - like 200 and start over?

It's not Martingale. It's referred to as a split martingale, but I don't think that name has nay place here.

For 10-10-10-10, I can't remember, my lines don't look like that anymore. I'd probably kill it if my line added up to 1000, possibly more. I do have kills in place, but have never gotten there, so if I ever did, I'd still be up nicely overall.

[Ralphie Halves]

Just some friendly advice...dont get too cocky. With all chase systems, it only takes one bad prolonged run to bury you. Maybe you'll get lucky and you'll never see that deadly streak, but it isnt something that is impossible, otherwise everybody would do it.

So yeah, I do have limits in place like I said above.

Honestly, I think the main reasons people don't do it are fear, they don't do it right, don't want to put in the effort, or the slow pace of the way you win just doesn't trigger their excitement enough.

[rkelly110]

I also keep win/ loss charts. If you have any experience reading charts, you'll know when to lay off and bet big.

If I get a double bottom, I bet bigger. A double top, I know when to lay off. Sideways pattern is money.

[BuckyOne]

So yeah, I do have limits in place like I said above.

Honestly, I think the main reasons people don't do it are fear, they don't do it right, don't want to put in the effort, or the slow pace of the way you win just doesn't trigger their excitement enough.

You also have to bet 1 event at a time and get the result in before you go again. I got my butt beat at it on roulette red/black bets. You can beat a flat choppy table but one that goes 1 win - 4 losses - 1 win 4 losses gets you in deep. But, I think I would like it better with sports - I know - you can have a cold streak in sports just as easily but you can really bear down with your pick of the day?

[Ralphie Halves]

You also have to bet 1 event at a time and get the result in before you go again. I got my butt beat at it on roulette red/black bets. You can beat a flat choppy table but one that goes 1 win - 4 losses - 1 win 4 losses gets you in deep. But, I think I would like it better with sports - I know - you can have a cold streak in sports just as easily but you can really bear down with your pick of the day?

So two things mainly:

1) You can bet more than one game a day, I often do. I have multiple lines open in my little steno notebook going at all times.

2) I used to be a tailer, now I'm a fader and it has been nothing short of great. I fade people here, I fade my friend who is a terrible sports better yet sends me picks almost daily, and I go to Spungalo's fade threads in the service plays forum. Between those three goldmines, I never get burned by a hot streak because collectively they're so bad at capping, one of those honey-holes will wipe out anybody who's actually doing well for once. Remember, you cross off two numbers for a win, and only add one number for a loss, which is the beauty of it all. If one capper goes 4-1, and the other guy goes 1-4, you're actually winning.

[BuckyOne]

So two things mainly:

1) You can bet more than one game a day, I often do. I have multiple lines open in my little steno notebook going at all times.

2) I used to be a tailer, now I'm a fader and it has been nothing short of great. I fade people here, I fade my friend who is a terrible sports better yet sends me picks almost daily, and I go to Spungalo's fade threads in the service plays forum. Between those three goldmines, I never get burned by a hot streak because collectively they're so bad at capping, one of those honey-holes will wipe out anybody who's actually doing well for once. Remember, you cross off two numbers for a win, and only add one number for a loss, which is the beauty of it all. If one capper goes 4-1, and the other guy goes 1-4, you're actually winning.

I know you don't need to even hit 50% as long as you stay out of a bad streak but what kind of pick % do your fade methods produce?

[Ralphie Halves]

I got lazy and stopped charting it years ago. I can honestly say at least 55% tho, probably a bit higher. For a system created for roulette, which is 47%, that's a huge jump. Remember, handicappers you tail can go on shit streaks, but bad cappers you fade rarely get hot for more than a few days. It's made a real difference.