Any one out there planning to take on some new chnges to their bankroll or betting differently? I have decided to make my rating a little higher than usual and try to get real serious for the 2008 year. I am starting out with about a 3,000 dollar bankroll and hope to turn that to about 20K (or more) by the end for the 2008 year. I do not bet parlays, mostly jusy straight wagers and totals. I never chase and i figure if i manage my money well i could be able to do this with the bowl season and NFL playoffs/Superbowl coming up. I would love to hear others plans for the 2008 year. Good Luck to all.
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I am going to try and get better lines, I have been betting any line lately just to get play in.Comment -
I agree with that also...I dont have a Matchbook account but i will try to get another sportsbook b/c i heard baseball lines at Bookmaker are kinda high. I just switched to them after the baseball season so i dont really know. Have heard great things about BetJam so i might try them.Comment -
Go Pro.!!!Comment -
My advice would be to not have a dollar-amount in mind. IT just makes it that much harder to make the proper decisions.Originally posted by chriscapper
Just have a set of rules of the types of bets you're willing to place, the line shopping you want to do etc.. and take it one step at a time.
If you bet like you're trying to turn 3k into 20k in a year, things can end up going sour very quick.Comment -
goldstein, classic compulsive gambling behavior dammit now I'm worried about you.Comment -
That is very true. I started seriously sportsbetting (again)last April with 2K (I took this out of my poker accounts). We are at the end of the year and my sports roll is now 14K. Goal for the next year is to double that. My advice take bonus's whenever you can, play any sportsbook contest that is offered (greek, justbet SBR BTP, whatever). Fade John Layfield in football. Bet smart and within your bank roll. Making $500 bets with a 3K roll is a sure way to disaster. With 2 K I started making $50-$100 bets max and worked from there. Even after I built it up some I keep my max bet lower than my roll would dictate. You will make mistakes and lose some games where your team dominates. Ride it out and hopefully your ahead. Keep records so you always know where you stand.Originally posted by dwaechte
Sorry for being long winded GL.Comment -
You need to have much more realistic goals.
Would you expect to turn 3k into 20k in the stock market in one year?Comment -
Well it's not really as much as a goal. But just something i would like to do. Is 20K in a year really alot to ask??Comment -
Yes.
If it was really that easy to produce a 6.66x return in a year, wouldn't everyone in the world be investing in betting?Comment -
It's not so much the fact that it's 20k. It's the fact that it's over 6x your bank roll. Although getting on a lucky streak certainly makes hitting 4x or 5x your bankroll in a year possible, it is not likely, and certainly not sustainable.Originally posted by chriscapper
Once again, your best bet is to just take it one step at a time. Use proper money management and your bankroll will take care of itself.
If you don't mind losing the 3k(And I'm being serious here not trying to patronize you), feel free to aim for whatever you like and who knows you may make it. You certainly have a much better chance of hitting 20k if you're aiming for it than if you simply take it slow. That being said, you also have a much, much better chance of going broke as well.Comment -
Very true...i completely agree with the money management and taking it one step at a time. Smart post, thanks.Comment -
Gambling markets are much smaller than financial markets and thus are far less efficient.
If it was really that easy to produce a 6.66x return in a year, wouldn't everyone in the world be investing in betting?Comment -
Because they're stupid.Originally posted by durito
I also don't get a 20% immediate increase in my bankroll everytime I sign up with a new broker.Comment -
Originally posted by durito
OK but not everyone knows alot about sports and can handle betting. Not everyone is a gambler. I didnt say it was easy or anyone can do it like ur saying. But people are making it like its out of the question.Comment -
It's not out of the question at all.
For a solid handicapper, playing enough games, with solid money management -- you can have that kind of return. But, that's in a truly exceptional year. I consider a doubling of my bankroll a great year.Comment -
Yea money management is def the key...I just started with a fresh bankroll of $350 in Nov and turned it into 2,000. But needless to say i was on a very nice hot streak. I'll keep ya updated
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If you're starting off with $3K, placing bets with 55% win probabilities at -110, and betting full-Kelly, then after 691 bets your expected bankroll would be $20,010 (although there's a 50% chance your bankroll would be less than $7,774).
It would take you 1,377 bets to have a 50/50 shot of ending up at > $20K. (Although after 1,377 bets your average bankroll would be $131,652).Comment -
I have certain "ratings" i put on my plays...Usually form $25 up to about $500. But will double the "rating system" starting the new year. So if in a given day i have a $1,000 play and two $500 plays i will be risking $2,000 (including juice). I know its not the greatest money management but i will not put the whole bankroll on one play. If i happen to do that the 1st day and lose all 3 games i will still have $800 to play with.Comment
