How good is your money management?

[coloradobuff]

I have a couple questions for ya'll about money mangagement.

1) Is there a certain amount of days you stay away from betting after you hit a cold streak? For me, I usually take a few days off when I lose 3-4 in a row. I dont want to get in the habit of chasing and a few days away from betting can be a good thing. It shows discipline.

2) I have been doing well in 2nd halfs in college football. When you are winning consistenly at a sport, how long do you wait before you increase your units?

I appreciate any input here. Thanks

 

[KingofNicotine]

Bad. I don't believe in betting 5% of your bank or anything like that. My strategy is, start small and bet the whole thing every time. When I get to 10k from $100, I'll post it here.

 

[coloradobuff]

Thanks Nicotine.

 

[KingofNicotine]

But stick to what works best for you. If I had a decent bankroll I would bet small.

 

[wilheim]

Personally it is not about streaks with me - it's about effort, slack off with your handicapping and you will most likely run into a so called cold streak. Work as hard as you can then you should maintain your average success over a given amount of time.

What a good capper has to watch out for is lack of games to choose from (such as baseball these days). A light schedule is liable to force a capper into playing a game he would not normally play and that is when I would take some time off until I have enough materiel to handicap to my satisfaction.

Regarding increasing wager amounts, for me a bump is an automatic reflex when I feel like I have a good handle on a particular sport or as in your case an area of a sport (CFB 2nd halfs) I will increase my unit size until I sense that handle I have on the area of wagering has run it's course and returning to a 50/50 level or of course the season ends and there are no more games.


Word to the wise - keep playing your CFB 2nd halfs but be very careful come Bowl time as teams for one reason or another don't perform as well or in other cases perform better than they did during the regular season during the Bowl games. I don't see that happen in as pronounced a fashion with the pros when they reach the playoffs as I do when the colleges play in their bowls.

Best of luck, wilheim

 

[OnWisconsin]

you know, i've been trying out a progressive type system for the past couple weeks. sort of like what nicotine mentioned. the goal is to put together a 3 to 5 game win streak starting out with $50 and betting everything until you get there. i went on a nice run when i started this and turned 50 bucks into close to 1300 by winning 5 straight bets. i then proceeded to go on a losing streak, where i proceeded to lower my starting bet to $25. if it wasn't for the hoosier meltdown yesterday, i would be going for win number 5 today for around $600 (or i could start from bet 1 and pocket $300). as it stands, i am going for win number 3 today. a couple more wins and i will have erased my losses from the previous week in just 24 hours.

so far i like this system, although i've only been doing it for a couple weeks and have only benefitted from one nice run. i'm about as streaky a bettor as you'll ever meet -- i rarely have stretches where i hit 50%. i'm a win 7 straight, lose 7 straight kind of guy, and i am trying this out to see if i can capitalize when i'm hot and minimize my losses when i'm not.

 

[KingofNicotine]

It's doable. I've done it on paper so it's possible to do it with real money.



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[coloradobuff]

This is good stuff..Reason I was asking about this, is that my nfl is cold, but college football 2h has been hot. I need to do a better job off better job of varying amount I bet on certain sports.

 

[coloradobuff]

Im taking today off and of course i liked phily over giants, but at least good to know gm i woiuld have played would have won.

 

[homedawg]

during hot streaks i am more likely to play aggressively. during cold streaks i just work a little harder and maintain my normal bet amount. where most gamblers go bad is when they are losing they push too hard, playing games they normally would not. i guess you can call it chasing, but it's ultimately the downfall to most gamblers. if i could give any gambler, who is just starting out advice, it would be stay the course when things are bad....cause they will be bad at some points. the key is not to push, stick to your routine, and things will turn back around

 

[coloradobuff]

very well put homedawg. thanks

 

[letsgohoosiers]

http://www.albionresearch.com/kelly/

Money management is designed for those who have money. 90% of gamblers don't.

Alternatively you can bet based on "streaks" and whether or not you're "hot".

 

[TomGshotput]

The most common example of poor money management is making a bad bet

The most common example of good money management is not making a bet at all

It takes very little discipline to have good money management so long as you can pick winners. In the long run no amount of money management other than walking away will help you if you can't pick winners

 

[kidman232]

kingofnicotine - would you really lay a couple grand on a qtr side or total? also would a book take that big of a bet on a qtr?

 

[KingofNicotine]

Probably not. And if I really had that much money no I wouldn't do it.

 

[KingofNicotine]

Double post.

 

[KingofNicotine]

I gotta really look at Pinnacle if they allow that. I know where I bet the max for live betting is $500, you can increase it if you call their customer service.

In theory, you can have a good run in a few hours and get into the thousands.

 

[BillyWaltersJr+]

kingofnicotine - would you really lay a couple grand on a qtr side or total? also would a book take that big of a bet on a qtr?

Pinny would without even thinking.

 

[The Thinker]

i play (2.5%) on each play, no altering...

when the bankroll grows or decreases by 25% i adjust the wagers, no exceptions

ive played many, this is the best

 

[TheSaint]

i play (2.5%) on each play, no altering...

when the bankroll grows or decreases by 25% i adjust the wagers, no exceptions

ive played many, this is the best

agree, thats a good, conservative system...but the problem is, not many guys have the discipline to stay with this kind of systems. they want to get rich fast, double up, whatever. all the well-known BR-burners.