Money Management Systems

[Blue54]

Okay...time to get serious about a money management system and looking for opinions, help, advice as to a system to use. I'm currently ahead and not losing money, but I feel like I could be much farther ahead if I had a proven, reliable and solid system that I can stick to. I currently use no system and basically bet by the seat of my pant/hunches.

So, please feel free to give any advice and/or tried and tested systems that work. My starting bankroll will be $1000. THANKS EVERYONE!

:toast:

 

[thirdperson]

Depending on your tolerance for risk, your choice of either defensive or offensive money management.

2 OFFENSIVE: In Kelly criterion, vary stake according to confidence or probability of outcome. In Martingale, increase stake after each loss but return to initial stake after a win.

2 DEFENSIVE: Stake is 1-5% of bankroll for each bet. Or "flat bet" same stake for every bet until new level of bankroll is reached then adjust stake size.

Plan a budget and bet only what you can afford to lose.

 

[Snookslayer]

I started on-line gambling about 9 years ago. My first deposit coincided with the start of the football season and I just knew I'd be rich by the end of the season. Brimming with confidence I made crazy bets on games I figured locks. Needless to say, my account was depleted within a month.

9 years later, I've learned a lot. No more betting over 5% of my bankroll on any game. No more parlays. No more chasing money after frustrating losses. No more betting on games without research. Etc... I'm happy to say I've been on great run for 3 years running. My bankroll is small relative to a lot posters here, but regardless of the amounts - everyone loves making withdraws instead of deposits.


Good luck! :aktion033

 

[Blue54]

Great info....

Third and Snook,

Thanks much for the info. That's the kind of stuff I am looking for. I like the 5% rule a lot and will continue to never chase - that's one lesson I've already learned.

 

[HarleyRoadKing]

I started on-line gambling about 9 years ago. My first deposit coincided with the start of the football season and I just knew I'd be rich by the end of the season. Brimming with confidence I made crazy bets on games I figured locks. Needless to say, my account was depleted within a month.

9 years later, I've learned a lot. No more betting over 5% of my bankroll on any game. No more parlays. No more chasing money after frustrating losses. No more betting on games without research. Etc... I'm happy to say I've been on great run for 3 years running. My bankroll is small relative to a lot posters here, but regardless of the amounts - everyone loves making withdraws instead of deposits.


Good luck! :aktion033

Well stated snook.. Sounds just like my entry and education into money management...

:lol:

 

[sportspay]

beginners should use money managing systems but as you get more disiplined you can change your style of wagering

 

[Hip2Bsq]

I found this a few months ago from another site.... then I modified it a little to fit my style...

Wager amounts with a 1000 BR should be between 1.5 and 2.5 % of total BR
Pick 50% winners or better to profit.
Goal is to raise total BR by 20% then increase wager amounts of base bet.

Base bet = $20 or $25 its up to you. If first bet loses then 2nd bet is base bet, same bet.

If first bet wins then 2nd bet is $12 -$18 ( in case you go 1-1 you are still in profit.) So half base bet size or slightly more.

If 2nd bet loses then 3rd bet is back to the base bet. If 3rd bet loses continue to flat bet with base bet until a win. This has us preserving our BR during a bad run!

If 2nd bet wins then increase wager on 3rd bet between 50%-75% ( this is up to you and how confident you are in the next play) The other 50% gets put aside not in your betting BR but as a CANNOT TOUCH so CANNOT lose pile.

Continue to increase wagers on any winning streak... The 50% of the winning bet that you did NOT rat hole is used to increase the next bet or future bets. (ONLY AFTER A WIN) You want to increase the next bet by 50%- 75% depending on how confident you are on the next pick.
Continue to rat hole 50% of all winnings so if you ever lose the starting BR you will have built yourself another one already.

Increase your base bets when your starting BR amount has increased 20%.

Level 1 = 888
Level 2 = 1110
Level 3 = 1388
Level 4 = 1735
Level 5 = 2168
Level 6 = 2711
Level 7 = 3388
Level 8 = 4236
Level 9 = 5295
Level 10 = 6619
Level 11 = 8273
Level 12 = 10,342
Level 13 = 12,927
Level 14 = 16,159
Level 15 = 20,199

The other part of the goal is to get to the next level within 30 days. By level 15 you can bleed off 4k from your BR and continue to make wagers as if you had a 16,159 BR so at 1% = $160 for the base bet.

EX. at level 2

Base bet $25 = win+25. $12 goes into the DNT ( Do NOt TOUCH)
2nd Bet = $15 win +15
3rd bet = $33 ( base bet plus 8 of the $15 won in bet #2) result = W =$33 So $16 goes into the DNT and bet #4 in the series will be between $33 and $50 ( its up to you)

 

[Mr.Smith]

money management systems do not work.

dont waste your time

 

[Blue54]

I found this a few months ago from another site.... then I modified it a little to fit my style...

Wager amounts with a 1000 BR should be between 1.5 and 2.5 % of total BR
Pick 50% winners or better to profit.
Goal is to raise total BR by 20% then increase wager amounts of base bet.

Base bet = $20 or $25 its up to you. If first bet loses then 2nd bet is base bet, same bet.

If first bet wins then 2nd bet is $12 -$18 ( in case you go 1-1 you are still in profit.) So half base bet size or slightly more.

If 2nd bet loses then 3rd bet is back to the base bet. If 3rd bet loses continue to flat bet with base bet until a win. This has us preserving our BR during a bad run!

If 2nd bet wins then increase wager on 3rd bet between 50%-75% ( this is up to you and how confident you are in the next play) The other 50% gets put aside not in your betting BR but as a CANNOT TOUCH so CANNOT lose pile.

Continue to increase wagers on any winning streak... The 50% of the winning bet that you did NOT rat hole is used to increase the next bet or future bets. (ONLY AFTER A WIN) You want to increase the next bet by 50%- 75% depending on how confident you are on the next pick.
Continue to rat hole 50% of all winnings so if you ever lose the starting BR you will have built yourself another one already.

Increase your base bets when your starting BR amount has increased 20%.

Level 1 = 888
Level 2 = 1110
Level 3 = 1388
Level 4 = 1735
Level 5 = 2168
Level 6 = 2711
Level 7 = 3388
Level 8 = 4236
Level 9 = 5295
Level 10 = 6619
Level 11 = 8273
Level 12 = 10,342
Level 13 = 12,927
Level 14 = 16,159
Level 15 = 20,199

The other part of the goal is to get to the next level within 30 days. By level 15 you can bleed off 4k from your BR and continue to make wagers as if you had a 16,159 BR so at 1% = $160 for the base bet.

EX. at level 2

Base bet $25 = win+25. $12 goes into the DNT ( Do NOt TOUCH)
2nd Bet = $15 win +15
3rd bet = $33 ( base bet plus 8 of the $15 won in bet #2) result = W =$33 So $16 goes into the DNT and bet #4 in the series will be between $33 and $50 ( its up to you)

Thanks for the input and info!

 

[Blue54]

money management systems do not work.

dont waste your time

I assume just flat bet the same unit each play is what you're getting at? Thanks much for your input!

 

[TraderMike]

I assume just flat bet the same unit each play is what you're getting at? Thanks much for your input!

I personally beleive that I would never be more than twice as confident in the outcome of an event as a standard play. So, I believe in a system where i bet 1 unit, 2%of bankroll, on a standard play and will bet 1.5 to 2 units max on stronger plays, which would amount to 3 to 4 percent of bankroll respectively. However, as implied above, I would consider those 2 unit wagers extremely rare with the majority of plays being 1 unit, with a 1.5 unit play when you see extreme edge in an event. Whatever unit system you choose, I would never bet more than twice your standard wagering amount(2$ of BR). BOL.

 

[Blue54]

I personally beleive that I would never be more than twice as confident in the outcome of an event as a standard play. So, I believe in a system where i bet 1 unit, 2%of bankroll, on a standard play and will bet 1.5 to 2 units max on stronger plays, which would amount to 3 to 4 percent of bankroll respectively. However, as implied above, I would consider those 2 unit wagers extremely rare with the majority of plays being 1 unit, with a 1.5 unit play when you see extreme edge in an event. Whatever unit system you choose, I would never bet more than twice your standard wagering amount(2$ of BR). BOL.

I like this....thanks, Mike!