I am very new to this board, I have approx $1000 in my online account. I am an extreme noob to handicapping. I have always bet on games, but never really had a system, just looked at the lines and made some bets. I would like some advice on how to manage my bankroll, I hear people saying you should never bet more than 1-2% of your bankroll on one bet. Basically, that means I should be betting around $10-20 a game or per unit. Does that sound like what I should be doing or did I read that wrong. I have been betting between 50 and 200 a bet, thats a good chunk of bankroll should I lose. any suggestions? advise?
It is very safe for you to wager $10-$20 per play and hopefully as your bank grows, your 1/2% will change and you can shoot a little more. Be discipline and stick with the plan. Track your wagers and try and find your strong suits. Try and look longterm, and not to get rich. When you look back at the end of the year, being up $15 or just even is Better than any red figure(losses).
Good luck
Good luck
Is your $1000 free and clear? What I mean by that...if that $1000 were erased today...would you be starving?
I suggest that everyone keep F&C money to gamble. This is money that you've basically written off as a loss already. Then...each dollar you make you can count as income...or you can use it to grow your BR.
But again...don't gamble with money until you've already considered it lost.
That said... $25-50 is probably right for $1000. It's hard to only wager $10 on a game and you'll probably just get yourself into trouble doing that and eventually bet too much.
I'd say make your units $25. If you really like a game... Wager as much as $100 on it. This is a little bit more aggressive than most pros would suggest but this is what I do... I'm a little bit more aggressive with my money and it's paid off for me personally. You may want to play around with it and see what you like.
Best thing I can suggest is keep a record of EVERYTHING you do. Treat this like a business... Document everything. Fees you pay for transfers, withdrawals, etc, games you wager on including spreads, etc. Document everything.
I suggest that everyone keep F&C money to gamble. This is money that you've basically written off as a loss already. Then...each dollar you make you can count as income...or you can use it to grow your BR.
But again...don't gamble with money until you've already considered it lost.
That said... $25-50 is probably right for $1000. It's hard to only wager $10 on a game and you'll probably just get yourself into trouble doing that and eventually bet too much.
I'd say make your units $25. If you really like a game... Wager as much as $100 on it. This is a little bit more aggressive than most pros would suggest but this is what I do... I'm a little bit more aggressive with my money and it's paid off for me personally. You may want to play around with it and see what you like.
Best thing I can suggest is keep a record of EVERYTHING you do. Treat this like a business... Document everything. Fees you pay for transfers, withdrawals, etc, games you wager on including spreads, etc. Document everything.
Yes, this is money outside of living money. just set aside for gambling, if its gone, its gone. It would seem to me that betting $10 a game it would take forever to build anythin gup, but if thats what it takes then I would do it. I am pretty new to making my own picks. Would you suggest piggybackin some cappers here until I can get my own style or systems down?
That's something you're probably going to have to figure out on your own. I wouldn't follow any cappers. The other thing about doing that is you'll have to follow all of their picks for that to really work.Valarious said:
Side with the dogs if you're unsure. Dogs hit more often (slightly) than favorites plus...when you're on the dog you're almost always on the opposite side of the betting public. (A good thing)
How much experience do you have playing point spreads? The biggest advice I can give you is...throw out any ideas you have of getting rich or making a ton of money. Maybe you will...maybe you won't. But you have to be patient and let whatever happens happen. If you try to make stuff happen too quickly I can guarantee you'll be left with $0 in your BR pretty quick. Never chase losses and quit while you're ahead.
For example... IF you Bet $50 on a day game and win...there's no need to get greedy and also bet a late game unless you are very confident in the spread (and even then...maybe it's best to just walk away) You're better off winning 50 than breaking even or losing more (Because of greed)
IF you're very new to betting it's kind of a learning experience so maybe betting $20-$25 at a time is your best option here until you get the hang of it. Most of us made all the mistakes in the book when we started so we are much wiser now.
If I compared myself now to how I was 2-3 years ago.. .It's almost astonishing how much more I know, how much smarter I am with my money etc.
Try This - Simple Works For Me
Divide your bankroll by 50 (2 %) = 1 unit
Wager 1 unit per play untill you realize 15 positive units.
Once you see 15 positive units add that profit to your original bankroll and
divide by 50 again.
Proceed forward doing the same after every 15 positive units.
Divide your bankroll by 50 (2 %) = 1 unit
Wager 1 unit per play untill you realize 15 positive units.
Once you see 15 positive units add that profit to your original bankroll and
divide by 50 again.
Proceed forward doing the same after every 15 positive units.
I have been betting for about 10 years and over all winning. Although there have been some losing and some bigger winning years.
this year i have been following a different system. I am looking at it more as a business than gambling which has been my mistake over the last few years. I create my plays from reasearcha and gathering information. I than get my pcks by Thursday before the weekend games and only bet those games. No prop bets, no TV games etc.
I look for value and only play those games.
What has made this the most most successful year ever has been keeping the wager amount the same. I know form the records that I keep that i can hit 65% of my picks. My problem in the past has been playing 100 one one game than 500 on another etc.
I now bet the same amount EVERY game. I have figured at 400 per game if i bet on average 20 games per week that I will win over 25K for the year.
The secret is discipline. In you case I would ignore the bankroll, if you can keep the same wager amount and our confident in your plays go for it.
there is NO perfect strategy, it is gambling and anything can happen.
avoid teasers, prop bets etc. stick to games you can find an edge and treat it like a job!
good luck
this year i have been following a different system. I am looking at it more as a business than gambling which has been my mistake over the last few years. I create my plays from reasearcha and gathering information. I than get my pcks by Thursday before the weekend games and only bet those games. No prop bets, no TV games etc.
I look for value and only play those games.
What has made this the most most successful year ever has been keeping the wager amount the same. I know form the records that I keep that i can hit 65% of my picks. My problem in the past has been playing 100 one one game than 500 on another etc.
I now bet the same amount EVERY game. I have figured at 400 per game if i bet on average 20 games per week that I will win over 25K for the year.
The secret is discipline. In you case I would ignore the bankroll, if you can keep the same wager amount and our confident in your plays go for it.
there is NO perfect strategy, it is gambling and anything can happen.
avoid teasers, prop bets etc. stick to games you can find an edge and treat it like a job!
good luck
