Money Management Philosophies

MoneyTalks27 · Apr 16, 2013

Hey Guys,

I wanted to ask everyone their opinions on good money management practices in sports betting. I have talked to people who are slow & steady... They wager the same amount of money on every game no matter what the circumstance, and use their ability to hit a success rate of 53-57% as their bread and butter to accumulate winnings over a the long term

I have also seen plenty of people wager anywhere from 1-5 units on games based on confidence. I am a little unclear on how that's good money management practice, unless it's a form of martingale..

Could someone please enlighten me a bit? Just trying to make sense of it all

loomis41973 · Apr 16, 2013

MoneyTalks27 said:
Hey Guys,

I wanted to ask everyone their opinions on good money management practices in sports betting. I have talked to people who are slow & steady... They wager the same amount of money on every game no matter what the circumstance, and use their ability to hit a success rate of 53-57% as their bread and butter to accumulate winnings over a the long term

I have also seen plenty of people wager anywhere from 1-5 units on games based on confidence. I am a little unclear on how that's good money management practice, unless it's a form of martingale..

Could someone please enlighten me a bit? Just trying to make sense of it all

IMO....it depends on the number of games you are betting

MoneyTalks27 · Apr 16, 2013

That's a valid point. During this time of year I like to play anywhere between 3-5 games per night... I guess my other question is, when you pay attention to this day in and day out, isn't it really hard to lose so many in a row that you deplete your bank roll? (Going back to Martingale Strategy)

JustinCruise · Apr 16, 2013

For Baseball,

I admit I sometimes (very rarely) will make a larger wager on a certain game. Mostly because of a lapse in discipline. But overall I like more of a flat betting approach.

I really don't buy into the "graded units" approach where you bet more on games you like more. Anything can happen in these games and often times the games you like the most won't come through for whatever reason. I have had a decent start in baseball this season, but two of the games I loved the most (where if i graded my plays I would have bet large units) both lost for fluky reasons. On one I had a starting pitcher get hurt for example.

I have the same opinion on grading plays as I do for people who try to time the stock market. Buying here selling there. In the long run they would make more money and have less headaches by sticking to a consistent, flat approach.

Just my opinion. Everyone find's something that works best for them.

nojuice9 · Apr 16, 2013

FLAT BET: If you actually wager money on sports and vary your wagers you need to re-evaluate. What I mean is this; every wager you make should be in your mind a winner...no wager has a better chance winning than the other. If you feel a wager (say 1*) doesn't have the same chance as winning as your strongest play (say 3*)...why play the 1*? I'll tell you why, action (not serious about winning at sports gambling). Once you get discipline and wager 2% to 2.5% of your bank-roll you'll have success. Best of luck.

MoneyTalks27 · Apr 16, 2013

Justin,

That's a good point. That's the approach I've been taking with baseball as well. I try to seek out "high value" underdogs as well. I think you can find a lot of hidden gems in baseball unlike most other sports in regards to high valued dogs..

MoneyTalks27 · Apr 16, 2013

Thanks, nojuice

tatehill2000 · Apr 17, 2013

look up the name tony stoffo,,, that guy wrote the best book ever on creating Staking systems and what they mean to you and how to shape them to YOUR STYLE of capping,
tater

99steak · Apr 17, 2013

MoneyTalks27 said:
Hey Guys,

I wanted to ask everyone their opinions on good money management practices in sports betting. I have talked to people who are slow & steady... They wager the same amount of money on every game no matter what the circumstance, and use their ability to hit a success rate of 53-57% as their bread and butter to accumulate winnings over a the long term

I have also seen plenty of people wager anywhere from 1-5 units on games based on confidence. I am a little unclear on how that's good money management practice, unless it's a form of martingale..

Could someone please enlighten me a bit? Just trying to make sense of it all

95% of bettors here don't have the bankroll to do the proper 1 to 2% of the bankroll. Most bettors bet 10 to 30% of their bankroll and get wiped out and they they re-up again....and the cycle continues.

In my experience, the best money/bank money management is the one published in bettingresource (www.bettingresource.com/sports-betting-money-management.html) This money management actually help you grow your bankroll in somewhat aggressive fashion but with minimal chance of going bankrupt. I have been betting their regular picks with their money management the last few years and its pretty solid.

NFLTrends · Apr 17, 2013

It all depends on the sport and the amount of plays you have.

For example in MLB, I wager either 1/2 a unit or 1 full unit because I play anywhere from 2-5 games per day.

During Football season and the NFL, you only get to play a certain # of games PER WEEK. So my wagers vary from 1 unit to 3 units per game based on my handicapping confidence.