Money management: Important

Money management: Important Sports betting has ups and downs. In most situations, it is critical to not overbet, 1-2% of bankroll should be your typical bet size, with a rare 3-4% of bankroll on GREAT bets only. During good weeks you are going to kick yourself for not betting more, but during bad weeks, betting 10% of bankroll on plays will wipe out your bankroll. We had a bad week here, but overall the plays have have been very solid way, way over 52.5%. Stay the course, and play for the longrun, not the quick score.

[QUOTE=Fezzik;8009]Sports betting has ups and downs. In most situations, it is critical to not overbet, 1-2% of bankroll should be your typical bet size, with a rare 3-4% of bankroll on GREAT bets only. During good weeks you are going to kick yourself for not betting more, but during bad weeks, betting 10% of bankroll on plays will wipe out your bankroll. We had a bad week here, but overall the plays have have been very solid way, way over 52.5%. Stay the course, and play for the longrun, not the quick score.[/QUOTE] some good advice here

Yeppers - Sept up 21%. October down 5% (after being up 20% - market correction). Would be shooting myself it I loaded up more than 1-2%

It's my only downfall in sportsbetting,,, It seems that with the help of a few services and a couple of these boards and my own ability that picking winners isn't the hardest part for me. It is the MM part for me. I have phone accounts at GVR and Orleans and I use them like ATM's. I'm not talking big dough, but up to several hundred a few times a month, pocket money. So I took 3-4 weeks to build up to say 2k, and then what do you know I pound one for 750 or so, next thing BAM I'm back to square one. I've owned my own business before and if I treated this more like that I would MAKE MORE $$$. I'm taking some extended time off from working so I can focus on this through at least the holidays and see what I can do.

I reset my unit once per year. September first. I used to move it up as I win and down as I lose, but I found I often overbet. Works much better for me to just keep it a consistent .5-2.5% of my bankroll on Sept 1st. It's not ideal mathematically for maximum gain, but I never get broken.

sean, i understand not updating daily or even weekly but why not do it the 1st of each month? it's almost as though you're flat betting and not adjusting for the count. i understand it's not the same but it's the best i can do on short notice

Monthly is certainly an option. I probably somewhat adjust without really adjusting. If a unit is 1%, when things are running well, the things that make the cut for 1.5 or 2% are probaby more frequent. When things are going poorly the things that are 1% or .5% seem to be more frequent. That's just me and I will do this regardless of my unit, so I know that adjusting every week or every month just makes me over or under bet since I end up double adjusting... It's tough not to bet more when winning and I find the best way to keep it minimal is to adjust yearly knowing I'll tweak upwards anyways a little.

Money Mangagement [QUOTE=sean1;8054]Monthly is certainly an option. I probably somewhat adjust without really adjusting. If a unit is 1%, when things are running well, the things that make the cut for 1.5 or 2% are probaby more frequent. When things are going poorly the things that are 1% or .5% seem to be more frequent. That's just me and I will do this regardless of my unit, so I know that adjusting every week or every month just makes me over or under bet since I end up double adjusting... It's tough not to bet more when winning and I find the best way to keep it minimal is to adjust yearly knowing I'll tweak upwards anyways a little.[/QUOTE] I increase my bet size when I'm winning and decrease it when I'm losing but I control the $ size of my bets by taking a "dividend" periodically, which means I lower my total Bank Roll by the amount of the "dividend" so that even though my percentage per play is higher the actual $ size of my bet is controlled. I've used this method for over 30 years...never been busted and have had some fabulous years when my capping is good.

Most gamblers don't really know what a bankroll is. It's the cash money you have set aside for gambling. Most bet WAY to much IMO. Especially when losing. After 50+ years of gambling, we are in the position to make bets at a very low % of our bankroll. Yes, unless you are greedy, when you have made enough to last another 30 years, you SHOULD bet very small % bets. We keep betting because it's in our DNA; it's who we are. I advise most to cut their bets in half or in quarters. You should be prepared to lose at least four weeks at a 30% win rate. Don't think it can happen? It will, believe me. Remember in football, the team + in TOs is about 90% ATS. Can YOU predict TOs?

It is human nature to bet more when you are winning and to bet less when you are losing. When you are on a hot streak, it is easy to believe you "cannot lose". Natural regression says that is the time you should be most careful about over-betting. I don't know if over-betting is greed or a false sense of security.