Bankroll Management

BimmerMan · 02-22-12, 11:29 PM

I read this on http://www.freeunderdog.com/bankroll-management.html a few days ago:

A Tale of Two Sports Bettors

Risky John and Conservative Bob each started the season with $1000 - their bankroll. They both decided to play the same games throughout the season but they couldn't agree on how much to place on each game. John was more of a risk taker than Bob so John decided to bet about $200 per game (20% of his bankroll). Bob was more conservative and decided to risk about $50 per game (5% of his bankroll). Risky John figured that if he bet more, he could win more. And he was right. In week one, their picks went 4-2. John was up $360 while Conservative Bob only won $90. John was very pleased with himself.

Week 2 produced the exact same result. Risky John now had a $1720 bankroll while Conservative Bob was up to just $1180. John was very happy. He encouraged Bob to bet more but Bob wasn't so sure about that strategy. What if their luck started to turn? Risky John preferred to think positively. Besides, they were 8-4 and they knew what they were doing! The first two weeks had proved that.

But then came weeks 3 and 4 in which they went 2-4, 1-3. A bad run for sure, but not uncommon during a 16-week season. In fact, losing streaks are inevitable and guaranteed during a season. Conservative Bob lost $235 while Risky John gave back $940. John now had a lower bankroll than Bob! John was now down to $780. Risky John felt the losing couldn't possibly continue so he stuck with his bet size of $200 per game. The next two weeks they went 2-2 and 1-3.

Guess what? Risky John was now virtually wiped out - down to $280. Bob, meanwhile lost $360 on the terrible four week run but still had $820 left over. One of them was virtually out of money, the other had over 80% of his original bankroll left.

What happened next? Well, John quit. And, the unfortunate four-week run was followed by a great 3-week run where Conservative Bob went 10-3 and another 8 weeks of hitting a very respectable 56% on average. Bob ended up the season at over $1300 - an increase of 30% on his initial bankroll.

The morale of this story is obvious but very few sports bettors practice it. Don't overextend yourself:

nick86 · 02-22-12, 11:30 PM

if you can't control the amount of your wagers then it would be best to quit. you'll keep going through this vicious cycle like most of these degenerates on this forum. get a job (if you don't have one) and stop gambling before it's takes complete control over your life.

greenhippo · 02-22-12, 11:35 PM

Originally posted by nick86

if you can't control the amount of your wagers then it would be best to quit. you'll keep going through this vicious cycle like most of these degenerates on this forum. get a job (if you don't have one) and stop gambling before it's takes complete control over your life.

Probably sound advice, the $ itself doesn't bother me much. In my mid 20's and make good money working anyway. It's more the knowledge of knowing I'm relatively good at this and see people who win 55% of the time being able to do this long term and I'm stupid enough to piss it all away because of emotions.

I value money more than the rush of gambling and have never put myself in a situation where if I lost I'd be in trouble.

Djstucky · 02-22-12, 11:36 PM

Originally posted by nick86

if you can't control the amount of your wagers then it would be best to quit. you'll keep going through this vicious cycle like most of these degenerates on this forum. get a job (if you don't have one) and stop gambling before it's takes complete control over your life.

This is exactly what you should do my friend. Hands down the best advice that you could be given IMO.

This is similar to my past drinking problem.
1) I loved to drink
2) I was really good at drinking
3) I couldn't control the amount I consumed
4) tried controlling it
5) didn't work and had to quit

Gambling is an addiction or can become one quickly...don't think because you don't drink, snort, smoke, inject, or huff it doesn't mean it can be a huge problem that leads to bigger ones...

JohnGalt2341 · 02-22-12, 11:49 PM

Originally posted by greenhippo

from September-December I was hitting at almost 70%

How many plays did you make during this time period?

greenhippo · 02-22-12, 11:50 PM

I hit 122 out of 176

rm18 · 02-22-12, 11:54 PM

You cant control it the only way is to win so much money the books will not let you bet a significant part of your roll

JohnGalt2341 · 02-22-12, 11:54 PM

Originally posted by greenhippo

I hit 122 out of 176

And these were all Against the Spread slash Over/Under plays? Meaning... -110 plays?

byronbb · 02-22-12, 11:55 PM

Stop now because when your heater subsides it will only get worse.

greenhippo · 02-22-12, 11:57 PM

Originally posted by JohnGalt2341

And these were all Against the Spread slash Over/Under plays? Meaning... -110 plays?

No not all of them, I'd say 150 were ATS bets, maybe 15 were ML wagers, but half of those were underdog plays. Then another dozen or so parlays or teasers, but I counted each parlay or teaser as a single bet.

greenhippo · 02-23-12, 12:05 AM

I think I'll heed the advice of most of you and put a nix on future online wagers. The small highs I'd get from it are always offset by the lows I get when I make a huge play just because I want to, and then lose it.

RudyRuetigger · 02-23-12, 12:06 AM

The first thing I'd suggest is quit lying to the people that "follow" you.

Guy says you winning too much without me

and your response is

I am, I almost feel lonely

Go fukk yourself

After that, admit you are a loser to those people then come back with your tail between ur fukkin legs and ask again. I might help

greenhippo · 02-23-12, 12:08 AM

which part is lying?

greenhippo · 02-23-12, 12:10 AM

I turned a blow off $80 bet on the Clips to cover against Portland last week into $540 in a couple of days, then put $200 on Kent State to cover, they didn't, soon as I slip up there I put the other $340 on New Mexico to cover, and they didn't.

greenhippo · 02-23-12, 12:10 AM

With a name like Rudy, I have no worse insults to give.

greenhippo · 02-23-12, 12:15 AM

With a name like Rudy, I have no worse insults to give.

JohnGalt2341 · 02-23-12, 12:22 AM

My advice to you is... come this September you should enter as many SBR contests as you can. If you do as well this year as you did last year you will definitely win a bunch of contests. After you do this.. I will tell everyone that I discovered you. At this point... I will take you under my wing and show you how to properly manage your bankroll. In 2013 we will both make a fortune. I look forward to it.

greenhippo · 02-23-12, 12:24 AM

What are these contests?

greenhippo · 02-23-12, 12:25 AM

JohnGalt2341 · 02-23-12, 12:27 AM

Originally posted by greenhippo

What are these contests?

http://forum.sbrforum.com/handicapping-contests/

RudyRuetigger · 02-23-12, 12:27 AM

Originally posted by greenhippo

With a name like Rudy, I have no worse insults to give.

Originally posted by JohnGalt2341

My advice to you is... come this September you should enter as many SBR contests as you can. If you do as well this year as you did last year you will definitely win a bunch of contests. After you do this.. I tell everyone that I discovered you. At this point... I will take you under my wing and show you how to properly manage your bankroll. In 2013 we will both make a fortune. I look forward to it.

sounds good, but is obviously wishful thinking as this guy doesnt even know who rudy is.

john, u'd have better luck at the next oprah book club meeting.

greenhippo · 02-23-12, 12:31 AM

i know who Rudy Ruettiger is, but this Ruetigger guy, afraid no one has heard of him.

RudyRuetigger · 02-23-12, 12:35 AM

Originally posted by greenhippo

i know who Rudy Ruettiger is, but this Ruetigger guy, afraid no one has heard of him.

Originally posted by greenhippo

With a name like Rudy, I have no worse insults to give.

you see what i did there?

good

ive forgotten more than you will ever have learned at this.

go apologize to everyone on facebook then i will give u a real answer instead of kissing ur ass like john jokingly did

greenhippo · 02-23-12, 12:35 AM

Originally posted by JohnGalt2341

http://forum.sbrforum.com/handicapping-contests/

I see, well it looks simple enough, 8 picks in a week is right about what I was doing.

greenhippo · 02-23-12, 12:36 AM

I saw you misspelling a name. Is that something you want attention drawn to?

greenhippo · 02-23-12, 12:38 AM

Never mind, here's a Rudy Ruetigger on Myspace

Looks like your trailer ran out of water that morning, clean up son.

RudyRuetigger · 02-23-12, 12:39 AM

Originally posted by greenhippo

I saw you misspelling a name. Is that something you want attention drawn to?

making enemies with me is not how you get in at sbr. good luck pal you will need it
GIFSoup

greenhippo · 02-23-12, 12:40 AM

I thought I was doing a public service by helping the guy with needs who can't spell someone's name even with the use of tools such as google.

greenhippo · 02-23-12, 12:43 AM

But yeah, I'm worried about someone who's been on the site for 16 months but has amassed over 6,600 posts so far, who has enough time to post on here over 400 times a month for 16 months? Have you ever seen a naked woman?

JohnGalt2341 · 02-23-12, 12:43 AM

Check out this thread too http://forum.sbrforum.com/players-ta...br-points.html

I'm giving away Free points. I've given away 600 so far. This will be your first test so I can see how sharp you are. After you read post #1 check out post #173. I'm giving away free points for all those that can beat me at Reversi 6x6, Hexversi, and Reversi Blackhole.

RudyRuetigger · 02-23-12, 12:45 AM

unfortunately u werent here when the spelling came up

unfortunately u werent here to learn kelly criterion

go look it up instead of pretending to be gods gift to the world on facebook to a bunch of worthless fukks being lead by a worthless fukk

thanks in advance

RudyRuetigger · 02-23-12, 12:52 AM

john lets play scrabble, chess, or some other game. i cant get enough people to make a move in that game to find a strategy.

hippo, i hope you realize how foolish you look keeping this thread on top when you admit to betting 50-100% of your bankroll when 1-5% is proper

greenhippo · 02-23-12, 12:55 AM

That was the point of the thread sweetheart, how can you literally be that stupid to not understand that? Seriously, dust off that GED, take some night classes, something. You can't fail this much, and expect to even become middle class one day.

greenhippo · 02-23-12, 12:59 AM

My apologies, 400 posts a month for 16 months, you don't have a job, I didn't mean to bring up a sensitive subject, times are hard, just keep looking man. Walmart or something should be hiring for summer help in a few weeks, just keep your chin up. I see by your "look at me, don't expect to be here long if I don't like you" persona that you have no record on here, or anywhere on wagered picks. I can afford to win and lose it all the next day, it doesn't effect.