What pct of gamblers here do you beleive have a gambling bankroll?

[Iceman]

What I mean is have at least 5k put away (offshore or stashed away somewhere) what they only touch to gamble with. In reality if these guys are following one of the golden rules of gambling (betting a pct of bankroll) than they are only betting around $50-$100 a play with 5k bankroll (which is fine I bet only a $100 a play out of 18k bankroll but LOTS of plays)

I bet it is a lot less than we think. I bet most gamblers just reload at a few books and use the current "extra money" to bet with. My guess 25%.

One of the most important things I did which I beleive has helped turn around my gambling game, is actually created a gambling bankroll instead of saying I had one. I actually put this money into a SEPERATE account only to be used for gambling and take a weekly inventory at each book at WRITE into down

 

[Fishhead]

What I mean is have at least 5k put away (offshore or stashed away somewhere) what they only touch to gamble with. In reality if these guys are following one of the golden rules of gambling (betting a pct of bankroll) than they are only betting around $50-$100 a play with 5k bankroll (which is fine I bet only a $100 a play out of 18k bankroll but LOTS of plays)

I bet it is a lot less than we think. I bet most gamblers just reload at a few books and use the current "extra money" to bet with. My guess 25%.

One of the most important things I did which I beleive has helped turn around my gambling game, is actually created a gambling bankroll instead of saying I had one. I actually put this money into a SEPERATE account only to be used for gambling and take a weekly inventory at each book at WRITE into down

One of the KEYS to being very successful in this business is what you just outlined.

 

[Christian]

a "bankroll" should be all the money you are willing to lose through gambling.

if you put aside $10,000 as your "bankroll" you better damn well be willing to lose the entire $10,000. if you lose $6,000 and then stop, then your "bankroll" wasn't $10,000 but $6,000!

this is where most guys go wrong. they put aside IN THEIR MINDS, say, $10,000. but in reality, they wouldn't let themselves lose anywhere near that amount.

and they think, okay, i'll bet a conservative, let's say, 2% on all my plays (2% of that $10,000 they put aside in their minds)...

so they're betting $200/play. but they hit the inevitable losing streak and maybe they end up being down 30 units ($6,000) and then they stop. they can't take losing any more money...

in reality, their bankroll was $6,000 not $10,000 and their betting unit ($200) was 3.33% of their bankroll (which is a LOT) instead of 2%. unless you are willing to lose the ENTIRE amount of what you put aside, your % of BR per play will not be accurate.

a bankroll amount doesn't mean anything. it is what you RISK on all your plays (compared to overall bankroll) that means something. if you're risking too much it doesn't matter what your bankroll is, you're headed to bankruptcy.

personally, i risk 1% of my bankroll on each and every play i make. some find this too conservative. for me, it's perfect. i don't need to get too risky. i have plenty of risky investments already (precious metals and energy sectors stocks, etc.). i don't need too stress myself by being too risky with sports betting.

but my "bankroll" is how much i am actually willing to lose. about a year ago, i actually lost almost 50 units (50% of my bankroll). it was the worst losing streak i had ever been through. but i didn't quit and i didn't downsize my bet size. i rode through it. it took months to recover, but in the end i was glad i stuck with it.

 

[Bet-It-All]

A seperatre bank roll is the keep to winning. I started using an actually bank roll this month and I'm up 26 units so far. Before that I was only up a little. Maybe its just a coincidence but I think having a seperate bank roll has made the difference. Without a bank roll a unit is meaningless.

 

[oldmanTED]

A very, very small percentage actually put aside a separate bankroll for gambling purposes only. For most, it is recreation only and not thought of as something to be managed long term.

 

[Paterno]

I saw this great quote by Russ Culver this week.

I don't believe all this bankroll talk gamblers like to throw around. I know gamblers and I know what "money management" really means to most of them-- always managing to have money when there's a game on TV, regardless of where they have to take it from. That may sound harsh, but I know it's true.

The real issue is discipline. The real issue is not plunging because you want to make a score. The real issue is not having ridiculous expectations. The real issue is not thinking you can solve all you problems by gambling.

Sometimes you tame the tiger and sometimes the tiger has you for lunch.

Here's the best money management system I ever found. Wager just enough so that when the bases are loaded in the bottom of the ninth with two outs you heart is racing a little faster. If your pulse isn't racing, you aren't betting enough to call yourself a player. If your heart is pounding so much you think you might have a heart attack, you're betting too much.
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[Christian]

For most, it is recreation only and not thought of as something to be managed long term.

you're absolutely right. and this is where so many go wrong. without an established "bankroll" or a "maximum amount i'm willing to lose" it is impossible to know how much one should risk on their plays (i.e. a certain % of BR per play, etc.)...

this leads to people betting over their heads and risking too much on their plays. most people have no idea that they're risking too much. if they really knew how risky it was to bet even 3 or 4% of an established bankroll, they would be SHOCKED. most bettors just have no idea.

 

[Woody0]

Its fairly easy for me since I hold my bankroll in a foreign currency (US $). My biggest loss recently has been the hypothetical loss due to the strengthening Canadian $. I thought of switching but its a big hassle and I think most of the revaluation has occurred.

 

[Christian]

Here's the best money management system I ever found. Wager just enough so that when the bases are loaded in the bottom of the ninth with two outs you heart is racing a little faster. If your pulse isn't racing, you aren't betting enough to call yourself a player. If your heart is pounding so much you think you might have a heart attack, you're betting too much.
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wow, i could not disagree with that more. granted, for a casual bettor, fine, bet whatever the hell you want. it's just entertainment and you already know you're going to lose in the long-run...

but if you have ANY hope of making money in this business...you better learn to remove as much emotion from these games as you possibly can.

i haven't had my "heart racing" in years. the outcome of one game, one day of betting or even one month is MEANINGLESS in the long run. i learned long ago that you can drive yourself nuts worrying about that.

hell, aside from the NFL, i don't even watch most of the games i have money on.

 

[CoachLT]

I am like my RX Brother, OMTed. I have a separate BR that I tally up every week. I have found out that my heart races a bit more when I have posted the play on the RX. CFB is the ONLY sport that I play enough on to raise the blood pressure. Any other sport is for laughs and giggles. Please hurry up CFB! LT arty:

 

[wiesman02]

I agree with iceman here. I have my own 5 figure gambling bankroll and a separate bank account to deposit my winnings in, as well as some extra $ in the account that is not tied up in sports books that I'm willing to lose. I think you need to look at it like an investment where you can't actually touch the money until you're willing to cash it out.

I think the key is like what iceman said. Have a roll that you can AFFORD to lose. Obviously, you don't want to lose it, but if you can afford to lose it, you're okay. But don't get me wrong here, I'm not the role model of bankroll management. I will throw up a 5-7% bet up there once in a while to get the blood rushing. Key is, if you don't mind losing it, who cares. But I'm only 22, so wtf do i know, right ? lol

 

[Insiders]

I have seperate accounts for sports gambling. But as Coach mentioned i Only play CFB high enough to raise my blood pressure. Betting 100 to a baseball game is not enough to raise my blood pressure. But now when the CFB season comes its nickles and dimes mostly, with a 15 dollar bet sometimes but very few of those, only 3 last year.

 

[CoachLT]

I have seperate accounts for sports gambling. But as Coach mentioned i Only play CFB high enough to raise my blood pressure. Betting 100 to a baseball game is not enough to raise my blood pressure. But now when the CFB season comes its nickles and dimes mostly, with a 15 dollar bet sometimes but very few of those, only 3 last year.

It would not surprise me if your 3 15 dollar plays were winners. I look forward to you sharing your 15 dollar plays.:lolBIG: arty:

 

[Insiders]

It would not surprise me if your 3 15 dollar plays were winners. I look forward to you sharing your 15 dollar plays.:lolBIG: arty:

As a matter of fact they did win. ALL 3 of them were on Texas!

 

[5teamparlay]

I personally don't feel its that smart to leave 10 - 20 K sitting in a sportsbook. It should be in a interest bearing fund or mutual fund. That return of say 100 per month could offset one days losses. Use what you need and keep a min. (say 1 to 2 K in the books) and leave the rest to make you money.

 

[Dante]

I would believe a good number do.... as many on this site bet year round 24/7

 

[winbet]

HAHA, were into that Bankroll shit again, roll out the Pros on here for their insight. :missingte
OK Iceman, I'll give you my take and let the other dopes respond. Firstly, in 40 years of being around Gambling, I never heard of a bankroll until I came on here, thats being in Bookmaking and dealing with proper Pros.

So lets look at the facts. I would put forward a theory, probably silly but if you cant win at this game then a bankroll isnt going to help you, on the other hand, if you do win then money isnt an issue. So we are now down to why would somebody need a bankroll, well the first legitimate answer would be to keep the wedge away from the Trouble N Strife. However, apart from that, the only reason for having extensive funds in lots of places is for trading etc.

This isnt really a BR in the sense like Feelsick would suggest but a cover. I have about £8000 hanging around which might sound a lot but its amazing how much of that can disappear in a days trading. Of course it might as well be in accounts than in the bank, it would only be sitting there anyways. There are good reasons for having funds but not this BR shit you get on here incessantly. No doubt We'll get Feelsick or some dope on here spouting words of wisdom, but remember, I dont have an ulterior motive. :drink:

 

[Insiders]

HAHA, were into that Bankroll shit again, roll out the Pros on here for their insight. :missingte
OK Iceman, I'll give you my take and let the other dopes respond. Firstly, in 40 years of being around Gambling, I never heard of a bankroll until I came on here, thats being in Bookmaking and dealing with proper Pros.

So lets look at the facts. I would put forward a theory, probably silly but if you cant win at this game then a bankroll isnt going to help you, on the other hand, if you do win then money isnt an issue. So we are now down to why would somebody need a bankroll, well the first legitimate answer would be to keep the wedge away from the Trouble N Strife. However, apart from that, the only reason for having extensive funds in lots of places is for trading etc.

This isnt really a BR in the sense like Feelsick would suggest but a cover. I have about £8000 hanging around which might sound a lot but its amazing how much of that can disappear in a days trading. Of course it might as well be in accounts than in the bank, it would only be sitting there anyways. There are good reasons for having funds but not this BR shit you get on here incessantly. No doubt We'll get Feelsick or some dope on here spouting words of wisdom, but remember, I dont have an ulterior motive. :drink:

Winbet
You bring valid points to the table as always. When i said that i had seperate accounts for gambling thats what i meant. The accounts that i have are ALL credit accounts anyway, but if i take a Bad loss i go to the box and pay it, on settle up day, just like we did 10-20-30 years ago.
As far as haveing 5-10-20 k setting in accounts in a thrid world country, that always freaked me out.
I had Bad experience way back in 97 or 98 cant remember which but it took me 6 months to retrive that money and it was not nearly all winnings, even had to discount the figure to get it piece-mill too. But that was then and this is now, and i think that ALL or most ALL are on the up and up nowdays. But as you mentioned it ALL comes back to Pickin Winners anyway.
But again that papertrail will always bother me!

 

[winbet]

Insiders,
I think your situation is the norm, but somewhere along the line this Bankroll shit gets mixed up with the Money management shit and everyone except the ones that know, forgets that the most important thing is understanding odds and putting values to them, without that, goodnight Vienna.

The main problem for budding Pros is understanding the prices on offer, not what they have come with. Whats the point in me coming to a conclusion that a team will win 67% of the time if the price is 1/3 if you see what I mean. :drink:

 

[Insiders]

Winbet

Also i think its part of the deal that the sponsors here want the Rx to promote haveing many accounts offshore, so they ALL get their little taste. You have a point there in the bankroll matter for sure, but as i mentioned it ALL comes back to pickin winners in the first place.

Another thing while we are on the subject is this.
I love those people that say they posted 10k someplace and then tell me that they bet 1-2% of the bankroll. I also think that is part of the people here trying to get that point across to the youngsters, cause that is Exactly what the sponsors want to see. I know if i was booking Anything, an a player put up 10k and started betting 100 a rattle, i would automatically think that the Vig will get those guy sooner or later, which it will. Besides they are never going to hurt me with that type of wager. I just get to lock up some more Vig with players like that.
Dont ya wish you had 1000 of those guys ? whew !!! $$$