I was sitting in the Wynn yesterday when I see a guy a chinese business man in the sportsbook he sits next to me having placed his bet 1.2 million on the Phillies anyways they lose 6-4 and I felt tore up for him guy was sobbing .But anyways seeing this event occur made me think about properly managing youre bankroll.I think we sometimes forget that building a decent bankroll is a process that takes months .Stop becoming victims of word of mouth or sentimental favs because I got burned to with the Cubs yesterday again sentimental favorite.i think SBR is missing a thread teaching the new gen of gamblers how to prop start and maintain a bankroll.Input is needed sharps .(Note if you want to contribute SBR points do so)
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1.2 mil
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YesComment -
So this person just randomly placed a 7 digit bet in public ? Hmm.Comment -
They let the High wagerers sit in a separate part of the Sportsbook.He was a whale I was more like a seal compared to him and his wagering habits.It was the wastefulness of the whole situation that got me.Comment -
Take a couple zeros out of that figure... no way a book would take a bet that large...
But it's a good thread here... I'd say 70% of being able to win is proper bankroll management. You can consistently pick winners, but if you have no bankroll management you will go broke. Best thing to do is at the start of a new season, set out your bankroll. So, let's say you set out $10,000. You shouldn't have more than 5% of your bankroll riding on a single wager. So, that would be $500 MAX on any single game. Let's say your first game wins, now you are up to $10,500. Your next bet should be no more than $525. Now, let's say you start with $10,000 and you lose your first bet, taking your roll down to $9,500.00. Your max bet should now be no more than $475. Your bank should keep fluctuating. Under this system (and believe me, it's hard to stay true to it, especially after taking several losses in a row) you should never be wiped out completely. IF YOU ARE FINDING YOURSELF RELOADING YOUR ACCOUNT, YOU ARE DOING SOMETHING TERRIBLY WRONG AND YOUR BANKROLL MANAGEMENT STINKS! I capitalized and bolded that for a reason. At no time should you find yourself reloading your account.
Of course, this is easier said than done. We all get tempted to chase our losses, especially after suffering 5 or 6 in a row, which is a common occurrence. If you start with $10,000 and see that dwindle down to say $5,000 it's awfully tempting to try to recoup in one shot. But it will cost you.
EDIT: I used 5% as a reference point. For many pro gamblers, this is considered too high, many risk no more than 2.5%, but for myself I feel comfortable laying up to 5%Comment -
1.2 million thats alot of money sounds like a fish story man on a game with no meaning if it was superbowl or world series and piece of advce money mangement is the most important some forget the money u hard earned can be lost as fast some take years to build a roll and los it in 1 game cant fell sorry about others mistakes worry about your game and stay positve manComment -
Well the fact the Pirates scored 3 in the bottom of the 9th to win it would be oh so depressing. Losing a "1.2 mill" bet because of the lowly pirates thoughOriginally posted by tltaylor89
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That must be an SBR record for longest rambling sentence. C'mon, Lacha, use your education and try to punctuate just a little bit for the benefit of your fellow members!Originally posted by lachapellek
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1.2 mil? yen?
he came to vegas in a wheel barrow?Comment -
rIt's pretty simple, although most guys - including myself - have to learn it first hand ... these are the things I abide by now (for the most part) .... everyone slips up now & then, but these work for me.
1. Don't bet double figure games/matches EVER on a single day. In my mind, this is maybe the best advice EVER that I received. Find your best 3-6 bets, make 'em and accept the outcomes.
2. Never EVER bet more than 25% of your bankroll on a single bet. Most will tell you not even to bet this much on a single wager, however I think the whole point of betting is that you build up your bankroll and at some point, you MUST may a bigger wager. It's human nature to want to get a "big" pay day. Don't gimme that BS about betting 2% of your roll every bet. NO ONE does that all the time. Everyone has made a BIG bet on one they think is unbeatable. But, you have to keep this sort of wager down to a once a month wager IMO.
3. DON'T CHASE EVER. Pick your games each day. Accept the consequences, win, lose or draw. If you chase, you LOSE period. You might get lucky a few times and cover your losses, but mostly you'll just lose more.
4. DON'T TAIL PEOPLE without formulating your own opinion. There are plenty of guys on here worthy of tailing, but if you blindly tail anyone without knowing about the game/match/sport - you will lose in the long run.
5. CASH OUT WHEN YOU ARE UP. I'm guilty of it. You get up, you think you can win more. Set yourself a goal to get to. When you win enough to get there, there is not reason no to cash out your winnings. You can keep in your original deposit and keep going.Comment -
sorry english is my 3rd language french and spanish come before sorry ill try writing more propely next timeComment -
p.s eagle sounds like a proComment -
Not a fish story this guy wagers 25,000 a hand at the Baccarat tablesComment -
Maybe he bets big but no way he bet 1 million usa dollars on that game in Vegas
Bet the same amount on every game period like 2% and stay in action all the timeComment