Money Management...what works best???

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Staying Alive
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I have been reading alot of articles regarding money management and the majority of them strongly recommend FLAT BETTING 2-3% of your bankroll.

My question is:

How many of you truly follow this advice and does it work best...if not what works best for you.

Me personaly,I flat bet but I am using way to much of a % of my bankroll..I realize now that I must get into a lower %

MV
 

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I flat bet 1%-3% of bankroll depending on sport. Found this works much better for me. when I was varying my wagers, I would always lose the higher rated ones...
 

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flat bet and same amount on every game

no gimmick bets either
 

Staying Alive
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What about money lines??
Example.. your 2% flat bet is $500 but the ML is -200.

Do you risk $500 to make 250 or lay $1000 to make $500 ?
 

Another Day, Another Dollar
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Most def $500, but I would not be into big moneylines if i were trying to be conservative.
 

Staying Alive
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OK....say it was only -130 would you consider laying more than your base 2% for that type of play ??
 

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If you are sure about what you are doing,dont use flat bet.
Value differs much from bet to bet.
 

Another Day, Another Dollar
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Laying 130 would be fine occasionaly, but I would try to limit the vig to no more than 110 or less. This seems the road you are approaching. When you lay more than 10 cents, you are not betting the best line. One loss at 30 cents will reduce your next win @ 10 cents.

If you bet .10 and lose 110

then win @ .10, you are minus .10


If you wager .30 and lose 130

then win @ .10, you are minus .30

Better to reduce risk as we are doing by using 1-3%
 

Staying Alive
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Thanks General

makes sense to limit your risks its just very hard to do sometimes
icon_smile.gif
 

Another Day, Another Dollar
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I agree. I am no saint either, but like you, I have come to realize it is the smarter way to wager.
 

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I bet flat and straight, with an occassinal ml parlay with Favs. but its the same amount!
 

SportsOptions/Line up with the pros
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Rule #1 - Bankroll preservation
icon_cool.gif


A lot of this depends on what your goals are. If you are serious about lasting a while than you should be using a bankroll (BR) geared towards safety. For that I recommend betting flat for 1% of your BR which I admit is on the conservatve side. If you have a roll of 2k than bet $20 a game. It seems small but you will find out much about yourself and the sport you are wagering this way. A lot of people don't manage their money well enough so they are back on the sideline before they really learn much about the sort of stuff they need to know. Imagine playing poker with a couple of hundred bucks in a $25 game. You won't be around long enough to learn to play cards let alone win any money long term. If you want to impress other posters or friends on how much you put on a game you will never make it here. Post up your funds and enjoy the 3 or 4 weeks you last in the game as you will be back on the rail soon.

Sharps sometimes use something called binomial distribution to figure out the size of their wagers but for squares like me it's best to flat bet IMO. As I said use 1% of your wagers and you will be plenty smart(er) long before you go busted. Also along those lines geared towards bankroll preservation get in the habit of not putting more than 8% of the roll in action on any one day. Believe me the games will be here tomorrow, flashy steals the headlines but slow and steady wins the money year after year. 'Nuff said.
 

ATX

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maximum,

I agree with VG. It is based on VALUE. If your perceived value of that -200 is -250 then you should wager more than if you figured it to be -220. But a very high percentage of value in US sports in found in the + not the -. A lot of the favorites are inflated, it's the American way. You will find a lot more +EV situations on the +180 than the -200, a LOT.

If this is in regards to baseball, it helps to realize how many teams win more than 60% of their games. That's the main reason I dont lay more than -140, and rarely lay more than -120. Sure there are matchups against DET where a -300 would probably have value, but for me the return is too small as a function of risk. My largest wagers in baseball have been on dogs of +170 or higher b/c they had the most perceived value. I havent seen anything extremely good since Ponson was at NYY but there have been dogs of nearly 2 to 1 that I would have taken at less than +120. And on a few of those I raised my wager from the average of .4% to 1.5%

I'm not sure if you are referring to baseball, but if you are, what has helped me is disregarding who should win the game. I only care about how far the price is off. Tonite for example I saw value in TOR +187 and KC -1.5 +300. Did I think TOR or KC would actually win? no, I simply thought the prices were off and let the odds take care of themselves.

One other thing. Let's say you bet $100 per game. If you flat bet, then you will find yourself taking fewer and fewer large favorites b/c they dont pay as well--they start looking less and less attractive. Many who bet "to win" many find themselves risking more and more on the large favorites b/c they "should" win, as if it's already a done deal. Check the baseball forum for an obvious example of this. I have only wagered on baseball for two years on and off, but this has been my experience. Track yourself to see if you do better flat betting or identifying specific value.
 

ODU GURU
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<BLOCKQUOTE class="ip-ubbcode-quote"><font size="-1">quote:</font><HR>Originally posted by MAXIMUM VALUE:
What about money lines??
Example.. your 2% flat bet is $500 but the ML is -200.

Do you risk $500 to make 250 or lay $1000 to make $500 ?<HR></BLOCKQUOTE>

ONLY RISK 2% of your bankroll, meaning $500 to make 250 in your example. I once asked this question to a very discplined sports bettor myself...
icon_wink.gif


THE SHRINK
 

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I play 1-3% of depending on ev.

How much of your bankroll should you have at risk a day or at the same time??
 

ODU GURU
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Buzz,

I don't this that really matters much if you stick by the 2% per game rule..

A game that is worthy of betting should be bet no matter how many games you play on a particular day...

2% should allow you to last a lot longer than most bettors I know who have no clue on using disciplined betting and bankroll management..
 

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