Money Management

[Hashish]

I have slowly come to realize over time that I can be a successful handicapper if I am disciplined, and this discipline takes the form of money management and selective wagers. I think cappers need to be extremely selective in their picks, and just pick games in which they have extreme confidence in the results. Not exactly earth-shattering advice, I know. However, I think it is way too easy to bleed away profits by putting money on games because I want a little action. I have resolved to ONLY bet on games I am extremely confident on, and never bet a game just because it is on TV and I want to add some excitement to my viewing.

I really think I can do this, but I have to combine this selectiveness with proper money management. To me this is a fascinating topic, one that I must admit I am not clear yet what is the best way to approach. This is where I I would love to get some advice from other cappers. How do you manage your bankroll? What percentage of your bankroll is your "unit?" I am vacillating back and forth between 5% and 10% as my unit. I think that 10% may be high, but with a strong selective approach I think it may well be effective. That is die to the fact that every wager will only be the one unit, because I will only wager on results that I have the utmost confidence in.

I am quite keen to hear how other approach money management. All thoughts and comments are appreciated.

:0corn

 

[Trampled Underfoot]

That is WAY too high. Your wagers should be no more than 2%. Ideally, as you build your bankroll into a nice chunk of money, you need to work that max bet down to 1%.

 

[buddy]

One rumor is to first, calculate how much money you would like to win in a years time. Obviously, this would include all sports. This step is very important.

Secondly, determine which sports you will handicap and those you will avoid.

Thirdly, arrange the sports you choose in rank of diminishing strength....strongest to weakest.

For example, it may be

1.) CFB Weeks 2-6
2.) NFL Weeks 2-6
3.) CBB / NBA / WNBA ~ entire season

Fourth, determine how many sportsbooks you will use during the season and equally divide your beginning bankroll among those books.

Fifth, you must be savvy enough to know how many games on a game card are realistic for you to identify. On a college football 50 matchup game card, a wisened handicapper may be looking for 2-3-4 games. More than 4 and he realizes he's in over his head. Many handicappers have hit 7-8 team parlays, however when the truth is revealed 3-4 of their games were decided in the last 30 seconds on some fluke play. Even though they were counted as winners, an experienced handicapper would never have risked his investment on an outcome that could have gone either way.

That's enough to get you started.

Discipline and patience are your best allies.

 

[ferdville]

Most professionals play anywhere from 2% to 5% max. Anything more is reckless. The more games you play the more likely that 2 - 3% is the correct unit.

 

[Hashish]

Thank you for the responses. Disappointed not to hear from more people. Maybe most people have no clue about money management?

I have to say I disagree that 10% is reckless if you only have one play on a day. However, I think risking more than 15% off your bankroll in one day is reckless, so I think it makes sense to drop down to 5% a play if making 2-3 plays on a day. I think anymore than that is asking for mediocrity. Gotta focus on finding that one good play a day and hitting it hard. I think that is the best strategy for me moving forward. Also, cannot be afraid to wait several days between plays.

Sorry if this is boring others, but I think if I have it written here it will help me focus on being disciplined. Again, all comments are very welcome.

 

[Trampled Underfoot]

Thank you for the responses. Disappointed not to hear from more people. Maybe most people have no clue about money management?

I have to say I disagree that 10% is reckless if you only have one play on a day. However, I think risking more than 15% off your bankroll in one day is reckless, so I think it makes sense to drop down to 5% a play if making 2-3 plays on a day. I think anymore than that is asking for mediocrity. Gotta focus on finding that one good play a day and hitting it hard. I think that is the best strategy for me moving forward. Also, cannot be afraid to wait several days between plays.

Sorry if this is boring others, but I think if I have it written here it will help me focus on being disciplined. Again, all comments are very welcome.

If you play anywhere close to 10% per play you will be broke in a very short time.

Before you even think about this why don't you go put 100 marbles in a box (55 blue and 45 white). Then proceed to pick them out of the box and write down the order. Be sure to put the marble back in the box after you write it down. Then pretend like the blue ones are wins and white ones are losses. Then see how many bets it takes for you to go broke. And keep in mind that is with 55% winners.

 

[Old School]

If you play anywhere close to 10% per play you will be broke in a very short time.

Before you even think about this why don't you go put 100 marbles in a box (55 blue and 45 white). Then proceed to pick them out of the box and write down the order. Be sure to put the marble back in the box after you write it down. Then pretend like the blue ones are wins and white ones are losses. Then see how many bets it takes for you to go broke. And keep in mind that is with 55% winners.

the truth is a beautiful thing..

 

[jr11]

Interesting debate, and opinions will be many, but one of the things I try to do is play every game for the same amount of money. Where I have gotten in trouble in the past, and like you referenced I would lose the so "called" 10% game and win the 2-5% games, have a winning percentage on the day but lose money. This is where it gets to discipline, if game is circled for you as a play then obviously you like it, no need to deviate and bring a greater risk into play. Too many times over the years, especially when my wife passed 3 years ago, I would be bored at home by myself needing something to do and sure enough would seek action on a game I wouldnt bet just because it was on TV. Also for me NO parlays or hardly ever teasers.

Also, it you keep say 2% of your bankroll for each game method that same 2% would be increase in amount as your bankroll increases perhaps if it grows enough cutting back to 1% as TU mentioned. Again, 2% is just a percent I threw out, maybe you or anyone else is ok with something a little greater.

 

[homedog]

Thank you for the responses. Disappointed not to hear from more people. Maybe most people have no clue about money management?

I have to say I disagree that 10% is reckless if you only have one play on a day. However, I think risking more than 15% off your bankroll in one day is reckless, so I think it makes sense to drop down to 5% a play if making 2-3 plays on a day. I think anymore than that is asking for mediocrity. Gotta focus on finding that one good play a day and hitting it hard. I think that is the best strategy for me moving forward. Also, cannot be afraid to wait several days between plays.

Sorry if this is boring others, but I think if I have it written here it will help me focus on being disciplined. Again, all comments are very welcome.

Bookie's dream. You will be broke in no time.

 

[Old School]

Most professionals play anywhere from 2% to 5% max. Anything more is reckless. The more games you play the more likely that 2 - 3% is the correct unit.

and it takes a person who wants to win and not just gamble to recalculate their bankroll and adjust accordingly..

ain't 25 folks here who do that along with a separate bankroll for each and every sport.

pop out 5 straight losers at 5-10% and then tell me ya can wager 10% of that depleted bankroll and tell me you know how to gamble..

truth is most don't have a clue.

and that 0fer weekend[that every gambler experiences]will just rip a bankroll to threads of ."I can't lose 11 in a row."

Sound advice these two have passed along.

:0074 Good luck..would love to see a player post his plays everyday with a daily updated record using a solid controlled bankroll for all to see.

Beat the man..be different..

 

[Trampled Underfoot]

Thank you for the responses. Disappointed not to hear from more people. Maybe most people have no clue about money management?

I have to say I disagree that 10% is reckless if you only have one play on a day. However, I think risking more than 15% off your bankroll in one day is reckless, so I think it makes sense to drop down to 5% a play if making 2-3 plays on a day. I think anymore than that is asking for mediocrity. Gotta focus on finding that one good play a day and hitting it hard. I think that is the best strategy for me moving forward. Also, cannot be afraid to wait several days between plays.

Sorry if this is boring others, but I think if I have it written here it will help me focus on being disciplined. Again, all comments are very welcome.

Another point that I wanted to make from your post. If you find three plays on one day why would you make them less than your normal play? If they are the same strength, you should play them at the same risk amount as you always do.

 

[Trampled Underfoot]

Interesting debate, and opinions will be many, but one of the things I try to do is play every game for the same amount of money. Where I have gotten in trouble in the past, and like you referenced I would lose the so "called" 10% game and win the 2-5% games, have a winning percentage on the day but lose money.

You beat me to this point.

 

[hawkeye]

I usualy look at total bankroll for betting on in a given day/weekend--it may be 10% to 25%--So it might inlcude bettingo n 1-5 games or 5-10 games --but dividing that money among the games--so if I bet 5 games total an d 20% of my bankroll- then 4% per game--if 2 games then 10% per game etc.--make sense.?

 

[PRO190]

and it takes a person who wants to win and not just gamble to recalculate their bankroll and adjust accordingly..

ain't 25 folks here who do that along with a separate bankroll for each and every sport.

pop out 5 straight losers at 5-10% and then tell me ya can wager 10% of that depleted bankroll and tell me you know how to gamble..

truth is most don't have a clue.

and that 0fer weekend[that every gambler experiences]will just rip a bankroll to threads of ."I can't lose 11 in a row."

Sound advice these two have passed along.

:0074 Good luck..would love to see a player post his plays everyday with a daily updated record using a solid controlled bankroll for all to see.

Beat the man..be different..

Have kept a daily record here for a long time..
Do not believe in same % on each bet and consistently make a Profit as shown in my records that are updated each post...

My Money Mgt is based on knowing my Handicapping Skills can Backup a High Value Wager..
In other words the Bettor Knows his Handicapping has exposed a High % Winner ;
I will not waste these High Potential Profit Makers by placing a avg size bet as HPPMs are a small % of a seasons available Games...

Very few Cappers keep Records here and when they do it's just during a winning streak but conveniently forget about the Losers.....

Bet any way you want but it's all about Maximizing the Best Situations..

 

[MadJack]

Does this mean we don't unload our account for a bailout on Hawaii games :shrug:

 

[Sportsaholic]

Does this mean we don't unload our account for a bailout on Hawaii games :shrug:

Absolutly not, unless you have a good "Feeling" :0074

 

[TouchdownJesus]

Always fun to wake up Sunday morning and the first thing you do is check the Hawaii score. Although, we all know, if the day was particularly bad....you aren't going to bed until those Rainbow Warriors have covered!

 

[MadJack]

Absolutly not, unless you have a good "Feeling" :0074

:lol:

 

[homedog]

You beat me to this point.

This a really good point. 98% of handicappers aren't good enough to vary the size of their wagers.

Most people that do take the "cool" tout rout to failure.

 

[Trampled Underfoot]

Does this mean we don't unload our account for a bailout on Hawaii games :shrug:

That was one of my low moments when I first started gambling. I remember a Texas Tech vs. Hawaii college basketball game about 9 or 10 years ago. I knew nothing about either team except that it was the last game on the board.

:facepalm: