Money Management

Sam Odom · 11-30-16, 09:44 AM

grantingyou · 11-30-16, 09:45 AM

If you bet 5% of your bankroll, you will lose your roll more than you can afford.

5% is way to strong. 1% should be an average play, with no single game EVER being more than 2x average or 2%.

SEAHAWKHARRY · 11-30-16, 09:57 AM

Well im a decent capper and 5% works for me

grantingyou · 11-30-16, 10:01 AM

Originally posted by SEAHAWKHARRY

Well im a decent capper and 5% works for me

The best handicappers in the world will go broke at 5%. No way you don't reload.

Sam Odom · 11-30-16, 10:02 AM

0.75 - 3% range for Sammy

jjgold · 11-30-16, 10:09 AM

2% of bankroll pretty safe too

SEAHAWKHARRY · 11-30-16, 10:12 AM

Originally posted by grantingyou

The best handicappers in the world will go broke at 5%. No way you don't reload.

Dude i start off with 100 to 200 in acct i cant bet 2-3$ offshore has limits im small time i cash out after nfl ncaa season and yes i basically cash out 1500-2000 grand at the most. Im betting small here and no i never reup during season only at start lsst 5 years

Sam Odom · 11-30-16, 10:14 AM

Originally posted by grantingyou

The best handicappers in the world will go broke at 5%.

Not with an adjusted BR #

In theory ... will never go bust

SEAHAWKHARRY · 11-30-16, 10:18 AM

Yeah i have no choice but to start off betting 10$ or so a bet when i deposit 200 which is 5% but im doing preatty good in NFL and i hit a few parlays I do I every weekend only hit two so far but but acct is sitting in the 5-6 hundo range. Right now im betting 25-30 a game
It works for me

SEAHAWKHARRY · 11-30-16, 10:18 AM

And a few Ncaa bb cappers have been on fire sobthats helping me as well

funnyb25 · 11-30-16, 10:33 AM

Definitely not a discipline one develops overnight. Can take a lot of pain and suffering to develop this vital tool. It also takes humility and patience. Two vital virtues for life also hold true in this arena.

SEAHAWKHARRY · 11-30-16, 10:37 AM

Its freakin hard when you want to put 100 on a game or 200 you know us gonna hit but you dint you freaking lay your 30 40 bucks in it and it cashes like a big dog ..you just have to just tjink back to your last loss and say ..could of gone the other way

funnyb25 · 11-30-16, 10:48 AM

One also needs to think, which most don't is...will I be more happy and satisfied if this big play hits, or will I be crushed if it loses. Most don't take the time to think about how their condition and personal well being will be if the big play misses.

Sam Odom · 11-30-16, 10:51 AM

we are adrenaline junkies

hard to tame it

SEAHAWKHARRY · 11-30-16, 10:52 AM

True story funnyb25 the only big bet i do is on Superbowl but thats because ive been money on the sides past years usually 100 or 150 just on that game because its like christmas

sportsfan9698 · 11-30-16, 10:55 AM

So I told the forum I went bust and I assume you started this thread in that regard...

Let me give you my take on money management...

I am a very strong math guy. I am constantly crunching numbers in all aspects of life. When I entered MSU as a freshman, they told me I had to take a bunch of math classes as a business major. I told them no I do not - give me a test. I aced it. I didn't take another math class in my life.

Of course your money management lecture makes sense if you are a 54% capper with some swings. I am not. I go 75% for extended lengths, then 35% for some stretches.

So what I do is I deposit $200-$500 to 5dimes. It takes off HUGE, or it taps out. I bet like 10-20% of bankroll knowing this will happen. No sense in delaying the agony. When it goes up huge, it only take a couple weeks, and I TAKE PROFITS IMMEDIATELY. I cannot overemphasize this. TAKE PROFITS - same as the stock market.

So that is my money management, and I have been doing this for 30 years. 2% ??? just shoot me that is not gambling

SEAHAWKHARRY · 11-30-16, 10:56 AM

Nah i roll with 5%

sportsfan9698 · 11-30-16, 11:03 AM

I have been with 5dimes for over 10 years, and I am +EV with them by a large number to this day. I have talked with Tony on the phone, and he tells me he still thinks he can get me, so he does not limit me.

My money management makes more sense to me. More importantly it has worked. I have not worked a "job" for the last 5 years. This is my job

SEAHAWKHARRY · 11-30-16, 11:03 AM

But yeah i wrote this for you and many others who tail picks on here and cant keep up with posters like lkid or dom or ayo they go belly up . I am not judging up just giving some solid advice ive been on here since 2007 every year i see people come and go show picks of winning tickets then boom they tank
I recreationally bet because i love having a lil on the game. Some of you guys do this to live..thats rough ..but i understand. Just be weary of the sure thing the all in type of bet because when it doesnt hit..that feeling is awefull I used to do that years ago but now that i have a family and responsibilities that is in my past

Good luck out there

sportsfan9698 · 11-30-16, 11:06 AM

Yea I feel you... your post is worthy to most here. I'm just saying there is a different way to look at it.

My "all in" wager last nite was $39

I'm not worried at all. I have an angle... back in the game like real soon

BetweenHerCheeks · 11-30-16, 11:08 AM

I have a basic three tiered system with 90% of my bets on tier 1....

Tier 1 = 1.0% of bankroll
Tier 2 = 1.5%
Tier 3 = 2.0%

Ideally, I'd like to get the range down to .5% to 1.0%. I am currently at .8% to 1.6%. I DO NOT use Kelly resizing - that is insane.

SEAHAWKHARRY · 11-30-16, 11:08 AM

You will bud just remember tomorrow is another day

SEAHAWKHARRY · 11-30-16, 11:11 AM

Originally posted by BetweenHerCheeks

I have a basic three tiered system with 90% of my bets on tier 1....

Tier 1 = 1.0% of bankroll
Tier 2 = 1.5%
Tier 3 = 2.0%

Ideally, I'd like to get the range down to .5% to 1.0%. I am currently at .8% to 1.6%. I DO NOT use Kelly resizing - that is insane.

Yeah that works for people who have 4 5 figure bank rolls but like a few of us on here we start off with 100-200 to start thats when 5% is needed lol

sportsfan9698 · 11-30-16, 11:13 AM

Originally posted by BetweenHerCheeks

I have a basic three tiered system with 90% of my bets on tier 1....

Tier 1 = 1.0% of bankroll
Tier 2 = 1.5%
Tier 3 = 2.0%

Ideally, I'd like to get the range down to .5% to 1.0%. I am currently at .8% to 1.6%. I DO NOT use Kelly resizing - that is insane.

Whatever makes you feel confident is okay with me.

BUT I have a very strict adherence to a unit is a unit. I never graduate from playing one game larger than another. I will almost guarantee you that if you keep proper records you will find that your 2% plays do not hit at a higher percentage than your 1% plays. It is all a mindfuk

sportsfan9698 · 11-30-16, 11:17 AM

I'm telling you the proper money management is to slay it or go bust.

Locals do not work with this model, that is why I don't use locals. when you deposit $200 to your fav offshore, the most you can lose is $200. Or you can go on a bender and take $20k in profits. I have done it many times. I'm gonna do it again soon

High3rEl3m3nt · 11-30-16, 11:41 AM

sports is right for 99% of the community here.

vividjohn45 · 11-30-16, 12:05 PM

Originally posted by SEAHAWKHARRY

Yeah i have no choice but to start off betting 10$ or so a bet when i deposit 200 which is 5% but im doing preatty good in NFL and i hit a few parlays I do I every weekend only hit two so far but but acct is sitting in the 5-6 hundo range. Right now im betting 25-30 a game
It works for me

I was going to say. No way you built up that roll on such small bankroll on small straight wagers. But if you are hitting parlays then yes. Easily seen then.

vividjohn45 · 11-30-16, 12:07 PM

Originally posted by sportsfan9698

I'm telling you the proper money management is to slay it or go bust.

Locals do not work with this model, that is why I don't use locals. when you deposit $200 to your fav offshore, the most you can lose is $200. Or you can go on a bender and take $20k in profits. I have done it many times. I'm gonna do it again soon

Lets see the history printed

vividjohn45 · 11-30-16, 12:08 PM

Originally posted by sportsfan9698

Whatever makes you feel confident is okay with me.

BUT I have a very strict adherence to a unit is a unit. I never graduate from playing one game larger than another. I will almost guarantee you that if you keep proper records you will find that your 2% plays do not hit at a higher percentage than your 1% plays. It is all a mindfuk

I disagree again with you.

High3rEl3m3nt · 11-30-16, 12:14 PM

Bookmakers love it when losing players attempt to adhere to strict money management principles. Nothing insures their edge over the player than losing players logging in volume. Just the facts and the facts include that the overwhelming majority of sports gamblers are losers.

~~Starting to think that~~ Sports is smarter than most people think.

newguy · 11-30-16, 12:28 PM

Originally posted by SEAHAWKHARRY

I am seeing a lot of fellow posters re-upping...going tilt. And it is all your own fault if you fail to use money management. Listen I see you guys placing 300. 500. 1200 2000 dollor bets thats awesome if your bankroll is
6000 10000 24000 and 40000 respectively. 5% guys thats the ticket no matter what 5%. If you are a decent capper andcwatch your juiced lines you will come out ahead every time.

I am a very small time player because Im not rich i have a family of 6 to support.Every year i put in 100-200 $ the start of NFL College football season and ...knock on wood...every feb/march ive be blessed to cash out enough to take our family on a nice vacation. Yeah my bets start out at 10$ ..now im betting 25-30 i love the action so i play to stay in the game as I DONT REUP. During the season.
I usually keep a hundo in acct thru baseball season but that dies quickly as i suck at stiches.lol

Anyways remember its a grind fellas and use MONEY MANAGEMENT

Its a life saver

Damnit - trying to quote and sent you a point. Haha. Oh well. Harry - this is awesome. A guy who can control emotions, support a family, have a little fun gambling, and cash out enough to have some spending money. American Dream my man. So happy to hear that!! I've got a couple of kids and gambling money comes after funding college, retirement, savings, and operations. Only way to live.

Do you do a lot of live betting or do you lock in early and are just that good??

Statman · 11-30-16, 12:32 PM

Good thread SeahawkHarry. Money Management is an absolute key that gets overlooked time and time again. This by far is my biggest mistake I make during the season. I can confidently say, I am up lifetime at many books but its more a result of nailing the larger bets and then taking the original deposit plus 80% of the profits out. The little that I do leave at the book eventually is lost so I've often wondered why leave any at all and simply make a full withdrawl? The answer usually revolves around re-up's at certain books where it's sometimes not an easy thing to do and the need to have "action" on a game. In any case, it sounds like you've found a system that works best for you and kudos for you to abide by it. Best of luck.

gauchojake · 11-30-16, 12:43 PM

All in every week. Ride or die Harry. There's always uncle Eddy's stash somewhere.

Sam Odom · 11-30-16, 12:59 PM

Originally posted by gauchojake

There's always uncle Eddy's stash somewhere.