For those of you who sportsbet seriously....

bigbet1234 · May 25, 2004

what % of return do you like to have on your money. Say you put 5K in action a day, what % would be a good return.

I have always over bet my bank, but have since took a more logical approach.....which is: get the most money down on the favorable games and quit betting just for the action. i have also cut my limits. this has since worked great.

i use to look for the 50-100% return on my money each and every bet, but it does not happen that way. I know look for a return of about 4-6% of what i wager.

sports, and gambling can be brutal if you do not have control, and i have been way out of control to long. it's time for a change, and i am doing my best to become a profecient handicapper, and next i work on my spelling.

another thing, i know my post don't mean much, but i am happy to have found this board, and i learn more and more each day.

later

Fishhead · May 25, 2004

First off, I hope you continue to enjoy the RX.

About your statements, consider the following.

If you were to hit 55% of your plays laying the normal -110 vig, you would have a ROI% of 5% on the nose.

Consider making 20 plays at 110-100 and going 11-9 which equates to 55%.

You would have put 2200 in action to make a $110 profit which equates to the 5% return mentioned above.

Hopefully this gives you a sense of as to what a 5% return in sportsbetting may equate to.

Having said that, if you can consistantly return between 3-5% of your money invested yearly in sportsbetting, you will be doing quite well for yourself.

Illini · May 26, 2004

I'm not an expert by any means, but you sound like you are getting on the right track. My problem when I first started was betting big on a game I felt strongly about. But once I lost one of those "sure things," I felt sick. I've done that more than once, but never again. I'm not saying you should never, ever double up on a game, but betting 500 when you're a 100 bettor is just asking for trouble. Of the things I've read, the best advice I can give is to bet 2% of your bankroll on every game and try to hit 55% winners. With 5 grand, betting 100 a game and hitting that magic 55% would make you a lot of money over time. With 500 bets a year, you would make a 55% annual rate of return on your money. ($27,500 won)-(24,750 lost). When I did the math on that the first time, it amazed me. That's twice as good as a great year in the stock market. When you up your bet size the next year to 2% of your new bankroll, the dollar amounts of 55% get that much higher. So it can have a compounding effect, much like the stock market. That being said, 55% is still a challenge for everyone, and sportsbetting should just be a hobby for most of us. And betting more than 2% of your bankroll is not advised, because losing streaks will definitely come. It sure is a fun hobby though.

Fishhead · May 26, 2004

Bet with your head, not OVER it!

GREAT ADVICE!

TheGeneral+ · May 26, 2004

Make a plan and stick to the plan. Just because you won a dime today, doesn't mean you have to up your wager tomorrow. Remember what got you to winning.

bigbet1234 · May 26, 2004

another question.

are their certain teams you bet on? i have a select number of teams i am watching. also, i very seldom bet a favorite. i usually bet the +110, +130 range