Bank Roll Managment

[Angels27]

Can soemone offer some advice on how they manage their bankrolls? More specifically at what point do you stop investing in your bankroll and start drawing money from it to pay for the important things like imported beer, cigars and women, oh yeah and maybe rent. Any advice or what works for you would be appreciated. Thanks

[The Mailman]

This is a great question.

I've read a ton on this and it's said that the best thing to do is never deviate from playing exactly 2% of your bankroll.

[Q-Unit]

that what Mailman said, and unless you're joking, you shouldn't look at your roll as a way to pay off essentials like cigars, drinks, women, and rent.

hell personally I don't think it should be seen as a way to finance your weekly lottery tickets! lol

better to set aside any money you're prepared to lose, and try to build on that.

[Oracle]

Originally Posted by The Mailman

This is a great question.

I've read a ton on this and it's said that the best thing to do is never deviate from playing exactly 2% of your bankroll.

Agreed although I flat bet 3% on each play. Progressive betting is a recipe to end up behind regardless of your winning percentage. No game is sure so no pick can be that much stronger than any other unless your an action junkie and have a ton of plays. This is 50% picking winners and 50% staying disciplined in money management.

[Troubleduke]

Yeah, I agree. Picking winners isn't the problem for most sports gamblers, its the money management that'll get them.

I always try to think to myself "Don't be a hero, just try to make money"-- meaning stay away from the betting the whole board just for action, don't risk a huge % of your bankroll on one bet, stay away from the low risk/high reward exotic little chance of winning ****, etc. And not ever be under the illusion that I am going to double and triple my bankroll in one day. The obvious stuff that can sometimes be difficult to avoid, especially when the losses start piling up.

I always try to set little goals for myself. "Ok, this is my bankroll at the beginning of the season or month or year, where do I want to be by the end?" Or even small goals like "what's my worst case scenario at the end of this day, week, etc." Hell, if my plan fails, I can learn from my losses and try to come up with a better strategy, the following month, season, year, whatever.

[Daws1089]

great thread. In the past sometimes I would put in around 400-500. I would strive for 1000. Once I got to 1100 or higher I would withdraw the 100 to bring me back to 1000. And just try to keep winning 100 over time and when I did I'd withdraw another 100 bringing me back to 1000. Just keep grinding.

[FlyersFan]

go big or go home is my motto....

i don't do this enough to care about money management honestly. i stick to what i know sport wise and i take risks that probably every day joe who would try and do this for a living wouldn't.

and honestly, there isn't a guy on this site who has any higher winning percentage on big plays than small ones. I think in the long run if you really are in this for the long run every game should be bet equal. But im not in it for the long run so i don't.....

i have to hand it to guys like boiler that can grind out a season by making 4000 plays a day on every sport and do it day in and day out (though it would have been nice if he could have put his computer down in Reno Saturday AM and watched some games in the book with me....). i can't do it....i get tired of this after about 3 straight days of it.....that's usually when i load up on plays....lol. There really is something to be said though for guys like boiler who play the steady wins the race game. They are the most likely "group" of bettors to come out ahead to a degree in the end.

I guess in the end it depends on what you want out of gambling. I am pretty much done with it because it is pretty obvious that recreational gamblers pretty much piss in the wind. for every great season, you have a bad one. for every 5-0 +18 unit day you have a disaster. I don't have the time or desire to do this anymore (boiler says i don't have the stomach for it....not that....i really don't have the patience for it...lol).

I think the most important thing along with bankroll, though, that nobody mentions is having lots of "outs" to bet games. It's amazing how many games come down to half points and getting a good line is half the battle (actually it is the battle).

GL and welcome...

by the way i have a 6Unit hockey play going tomorrow which is 3x my normal play...........as i said, don't follow what i do....

[DukiesBaby]

Dont chase losses is my number 1 rule. u chase loses u generally lose more. sports are just like poker u can get on tilt.

every week i am a lil action junkie when comes to football, so i will usually make a rent, or shopping spree ticket, ill paraly like 4-6 games and put $15-25 on it and if it hits i immeadiatly withdraw it and either pay some bills for the month or go shopping, that way i can always feel like i gained something outta of it.

i always go through my games pick out my 1-10 games i really like and bet anywhere from 10-20% of my bank roll on those games as singles.. than i walk away come back on fridays usually and make about 2 action tickets my rent/shopping ticket and 1 or 2 $5 teaser or parlays big spots so i can watch alot of games and save money ha


i would suggest everytime u win what u consider a decent amount take out ur winnings leave ur original bank roll in and go buy something that will benifit yourself in longrun