% of bankroll for smaller players...

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I have seen on this forum many times things about % of one's bankroll. A common number is never bet more than 1% of your bankroll.

Do you guys agree with this for a "small bettor"?

For example, I would be considered a small bettor (I NORMALLY wager between $50-$300 per bet)

My bankroll varies at all times but for argument sake, let's say I have $3000.....u suggest $30 a game?

$30 doesn't exactly get the juices flowing!

Any thoughts?
 

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He said $30 doesn't get the juices flowing and you tell him $20?:WTF:

Whats your unit size JJ?:dancefool
 

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I would say it is still worth it Sherm to play 1% per play if you are flat betting. If you don't have enough to deposit all at once to make the 1% a higher amount you can deposit 3k, play at 30 a play until you can A. Deposit more money or B. win enough to play at a higher rate. I usually play flat 1% and as I am able to deposit more if I want to up my 1% amount (or win and adjust accordingly).

Look at it this way...at 1% with no adjustments you would have to bust 100 plays to bankrupt you. Increase that by 1% (so 60 a play instead of 30) and now you bust out at 50 plays. Now play 500 a play....you're out in a little under 6 plays.

Obviously your winning percentage plays a huge roll in this...but it's a marathon not a sprint. Some guys hit big and get out...some guys grind. It's really up to you and your goals with this. I will say it's a much safer play to grind it out...it also depends on your level of risk. Some guys can tolerate a higher level of risk and some like a higher level of security.

Good luck.

sb
 

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Pancho Sanza said:
You need a bigger bankroll if you're betting $300/game.:smoker2:
I dont bet $300 every game and $3000 was a numbers for numbers sake
 

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sportsbet said:
I would say it is still worth it Sherm to play 1% per play if you are flat betting. If you don't have enough to deposit all at once to make the 1% a higher amount you can deposit 3k, play at 30 a play until you can A. Deposit more money or B. win enough to play at a higher rate. I usually play flat 1% and as I am able to deposit more if I want to up my 1% amount (or win and adjust accordingly).

Look at it this way...at 1% with no adjustments you would have to bust 100 plays to bankrupt you. Increase that by 1% (so 60 a play instead of 30) and now you bust out at 50 plays. Now play 500 a play....you're out in a little under 6 plays.

Obviously your winning percentage plays a huge roll in this...but it's a marathon not a sprint. Some guys hit big and get out...some guys grind. It's really up to you and your goals with this. I will say it's a much safer play to grind it out...it also depends on your level of risk. Some guys can tolerate a higher level of risk and some like a higher level of security.

Good luck.

sb
thanks for the well though out post.......i like risk.......
 

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X-Files said:
Put the whole 3000 on the Colts & then you can
bet $60 a unit next week.

Why dick around...have some balz.

That'll get the juices going.
LOL. The $3000 WAS JUST A NUMBER....I may have only $3 or I may have $300,000....
 

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You have to bet a % of your bankroll at all times though what percentage tou bet is dependant on your ability to cap accurately.

If you're not sure I'd stick to a fixed percentage - personally I use Kelly criterion but its not good for short prices - is good for horses 5/2 and over.

I've bet up to 7% of my bankroll on a really good bet but average would be around 1.5%.

For a fixed stake system I'd suggest 2.5% but if you have the ability to distinguish a good bet from an average one I'd go 1% - 5% max. A 5% bet would occur probably 2-3 times a year.
 

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Pancho I am betting $10 a game right now, took a massive loss on OKlahoma

I would keep all unit sizes the same as I beleive no such thing as liking one team more than another
 

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sherman said:
I have seen on this forum many times things about % of one's bankroll. A common number is never bet more than 1% of your bankroll.
This is for professional bettors (and) those would want to limit their risk and so maintain their working bankroll capital.

A theorem known as the Kelly criterion shows that to maximize the rate of bankroll growth one should bet that fraction of bankroll that is equal to your advantage. Thus if your advantage is 1% you should bet 1% of bankroll. When playing blackjack it is possible to calculate your exact advantage for every hand in real time. Exceeding the Kelly rate can be shown to lead to bankruptcy.

In the case of sports there is no method that I know of to calculate your advantage. However many players will categorize their bets according to how strong they believe the play to be and bet accordingly.

If you are playing more than 3-4% of bankroll per bet I figure you will lose your bankroll.
 

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Sportsbet said what I wanted to say but was too lazy to type it.
LOL Pancho...Mountain Dew does the trick. :drink: :drink: :drink:

sb
 

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The most important question to ask is how much does the money mean to you? Is your bankroll depended upon for income? Do you have disposable income from your job that can replenish your bankroll if you lost it? Would you be willing to give up gambling if you lost your bankroll? Once you answer these questions then you can go about sizing your bets. If it is small and doesn't have a lot of gambling winnings, you probably can bet a higher percentage. Higher chance of busting, but the idea is if you lost a smaller amount not a huge disaster. If you are living off sports betting then obviously the story changes. Personally I think 2% bets work for most people. I have an additional add-on of 20 units, for sanity's sake. When it comes down to it, a 50-unit loss at flat bets is nearly impossible if you are truly a winning player. It might happen once in your career. The key though is that 50-unit losses are a lot more likely if you won say 30-units before it. You can't overdo it, you must keep some won units in your bankroll until you have "earned" them out. This means take your expectation for wins and multiply it by your action. That amount is what you theoretically should have won and can extract from your actual winnings. If you won more, keep it in your bankroll until you win it out. This simple step is rarely followed, but extremely important if you are going to take money out of a bankroll as you play. I always advise not taking anything out for years, but if you want regular withdrawls at least follow this step and save yourself tons of headache.
 

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