MONEY MANAGEMENT (What % of your bankroll should be in play?)

[MadCapper]

This thread should be stickied to the top of every forum!

MONEY MANAGEMENT (What % of your bankroll should be in play?)

I admit that I have a problem with money management (I am getting much better. I've learned from past mistakes) and I see A LOT of people on these forums have terrible money management.

Trust me when I say, if you use poor money management, you will be in the poorhouse or even worse real fast.

There are some great math guys and great money management minds on this site.

It would be real helpful if they shared some of their knowledge and wisdon on this topic.

Thanx in advance!

[diogee]

I am one of them...usually really good about it until days like today when I am up all night and then get woken up very early in the morning. Luckily it worked out today. I usually only have about 25% of my bankroll in play.

[MadCapper]

I am one of them...usually really good about it until days like today when I am up all night and then get woken up very early in the morning. Luckily it worked out today. I usually only have about 25% of my bankroll in play.

Most successful bettors would tell you 25% of your bankroll is WAY too much to stake.

Unsuccessful bettors will attest to it too.

[diogee]

25% is too much but anything less than that drives me crazy with my small bankroll for some reason.

[MadCapper]

25% is too much but anything less than that drives me crazy with my small bankroll for some reason.

I understand. Been there!

[diogee]

I was thinking about going ahead and depositing another dime into my account so I could use a smaller percentage of bankroll each day and feel satisfied

[Louisvillekid1]

Im have a small bankroll, but its growing at a nice clip right now. I bet 5% every play. Its a high percentage, but couldnt bet any lower w/ my roll right now. As Long as you stay under 5% you should be fine. However pros much stay at 2% or under.

[SBR Lou]

I don't think rule of thumbs are the way to go, unless you're setting up a framework to combat compulsive gambling, which is understandable. If you're betting 2% on twenty different plays in a weekend, you're risking much more than 2%. Likewise, if you're risking 10% on just a couple plays you're still alright.

The main pitfall to problem gambling isn't bet size, it's chasing. Just get your money in good and try not to go all in, we're betting sports not playing poker.

[diogee]

5% per play...that is about what I usually do but end up with 5 plays per day on average making it 25% of my bankroll.

[rjt721]

110%

[donjuan]

Kelly criterion.

[Ice Queen]

%99.1

[pat venditto]

imo for long term winning you wanna play only your premium plays. risking more than 10 units a day is being a degenerate who will lose. playing anymore than 3-4 plays is being a long term degenerate loser lol. I risk 2.5 units per bet and bet 1 game a day.

[MiamiBoy86]

Today was my realization of just how much of a rookie I am at this...started with a dime as a bankroll, got it up 300 in a week, thought I was money..thought the Celtics against West were money....put 45% of it on them alone, plus brutal loses on Utah (under, lost in last 3 sec on meaningless foul), and Portland (apparently they don't have the same mojo they did in first half)...and chased with rest of roll on ATL -3.5 2nd half....it hit which was nice but still down 300 for the night.....going to build it back up slowly....no more "major" winning guaranteed plays.. too bad I didn't see this thread until AFTER I almost went under...BOL to all, gnight

[imgv94]

Even the best of handicappers, even the savvy veterans go through bad streaks. No one is immune to them. A winning gambler is determined by the manner he handles losing..

[pat venditto]

there is no gurantee. thats why you do your homework, gain an edge in the game by seeing whos injured,whos gonna be tired because they've played 3 games in a row, etc and bet small 5% or lower per game and only bet your best bets. don't be a degenerate like 85% on this forum

[donjuan]

imo for long term winning you wanna play only your premium plays. risking more than 10 units a day is being a degenerate who will lose. playing anymore than 3-4 plays is being a long term degenerate loser lol. I risk 2.5 units per bet and bet 1 game a day.

This is false. I make money betting more than 20 games per day.

[imgv94]

donjuan are you a CR guy or are you from the States?

[pat venditto]

I gurantee you dont make money long term being a degen action player betting everygame everyday. No edge at all thats why 85% of this forum loses long term.

[donjuan]

I gurantee you dont make money long term being a degen action player betting everygame everyday. No edge at all thats why 85% of this forum loses long term.

I'm not making action plays. This is over a sample size of thousands of plays.

donjuan are you a CR guy or are you from the States?

American living in the US, at the moment.

[pat venditto]

okay I still find that hard to believe and i'm willing to bet that 90% of people who bet 5 or more games a day lose long term.

[accuscoresucks]

This is false. I make money betting more than 20 games per day.

i agree donjuan

some people are just
no sense in trying to argue,or prove a point with that

[capitalist pig]

I make one play per day 90% of the time, its always for the same old boring amount of $.This has worked out very well for me, but then again this is just amusement for me.

later

[INVEGA MAN]

In The NFL, I bet all the games and do ok for myself. Of course, its either all dog or favorites for that week

[MadCapper]

Kelly criterion.

Please elaborate for the newbies.

[LT Profits]

There is no golden rule for the number of bets you should make each day. If you see an edge in a game you play it, no matter if you end up with 1 play, 25 plays or no plays in a day. The amount you bet PER GAME is much more important than the % of your bankroll in play on a particular day. If you set a limit for yourself such as no more than three games per day, you are probably missing out on profitable opportunities.

[buztah]

There is no golden rule for the number of bets you should make each day. If you see an edge in a game you play it, no matter if you end up with 1 play, 25 plays or no plays in a day. The amount you bet PER GAME is much more important than the % of your bankroll in play on a particular day. If you set a limit for yourself such as no more than three games per day, you are probably missing out on profitable opportunities.

That's why you do this for a living and I'm stuck in the frickin' rat race.

[donjuan]

Please elaborate for the newbies.

http://forum.sbrforum.com/handicapper-think-tank/29009-expected-value-vs-expected-growth-kelly-criterion-part-i.html

http://forum.sbrforum.com/players-talk/29841-maximizing-expected-growth-kelly-criterion-part-ii.html

[Louisvillekid1]

donjuan howcome you never post a pick before? Ill lay however much you want, that says you can't pick 57% over your next 100 bets, betting 20 bets a day.

[Brick Tamland]

I don't think rule of thumbs are the way to go, unless you're setting up a framework to combat compulsive gambling, which is understandable. If you're betting 2% on twenty different plays in a weekend, you're risking much more than 2%. Likewise, if you're risking 10% on just a couple plays you're still alright.

The main pitfall to problem gambling isn't bet size, it's chasing. Just get your money in good and try not to go all in, we're betting sports not playing poker.

i agree w/ that. you arent gona bet 20 dollors because your bankroll shit the bed.....you are gona bet what is worth the time to you. MMost bankrolls shrink.

you shoud bet to what your goal is for the yr..... If u want to make 30 Gs then and go 53 perc...on 30 bet evry week..... you have to bet $1000

f ur bankroll

[donjuan]

donjuan howcome you never post a pick before? Ill lay however much you want, that says you can't pick 57% over your next 100 bets, betting 20 bets a day.

Apparently your reading comprehension is almost as bad as your understanding of sports betting. Feel free to show me where I said I'd hit 57% on those 20 bets per day? Also, who said they were all ATS?

[MadCapper]

http://forum.sbrforum.com/handicappe...on-part-i.html
http://forum.sbrforum.com/players-ta...n-part-ii.html

Thank you!

[mjc257]

My philosophy is different than most. I actually believe in playing a lot of games for a small % of your bankroll. I'm talking <1% per wager or something close to that. Think about it, that's how casinos make money right? They give themselves a very small advantage over many, many trials and they always come out on top.

If you handicap long-term at 60% on average (assuming -110 odds), I don't believe you play enough games. I'd rather go 57% over 500 plays than 60% over 200 plays. More long-term profit.

Like LT said above, I don't go into an evening saying I'm going to pick out three games and bet them. Some nights I have 20college hoops plays, some nights I have none. For instance, tonight I have 16 plays, each play is for between 0.5 and 1% of my roll. I've had as many as 40 plays on a college football Saturday.

Just my opinion.

[imgv94]

My philosophy is different than most. I actually believe in playing a lot of games for a small % of your bankroll. I'm talking <1% per wager or something close to that. Think about it, that's how casinos make money right? They give themselves a very small advantage over many, many trials and they always come out on top.

If you handicap long-term at 60% on average (assuming -110 odds), I don't believe you play enough games. I'd rather go 57% over 500 plays than 60% over 200 plays. More long-term profit.

Like LT said above, I don't go into an evening saying I'm going to pick out three games and bet them. Some nights I have 20college hoops plays, some nights I have none. For instance, tonight I have 16 plays, each play is for between 0.5 and 1% of my roll. I've had as many as 40 plays on a college football Saturday.

Just my opinion.

What you said is irrelevant because no one caps 57% let alone 60%..

[MadCapper]

What you said is irrelevant because no one caps 57% let alone 60%..

agreed when talking over a long period of time.