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Poker Forum
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Posted: Mon, 31 Jul 2006, 12:56am Post subject: Sportsbetting Bankroll Management for Poker Players |
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Starfleet's Finest
Joined: 23 Feb 2005
Posts: 2080
WPP: 105
Location: The University of TEXAS at Austin
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Sportsbetting Bankroll Management for Poker Players
Bankroll Management is just as important in sportsbetting as it is in poker. Just like successful poker players can drive themselves into debt with horrible Bankroll Management, successful sports handicappers can drive themselves into debt with terrible Bankroll Management.
“My idiot friend went 11-2 this weekend and STILL lost money! I can’t believe that moron!”
Never let anyone say anything like this about you. I’ve seen too many people who have the skills to be successful have to fold because they had the worst money management skills ever.
So how do you properly manage your bankroll? For starters, just play straight bets at first. It’s your ticket to success. The books want you to tie games together, to make a payout contingent upon many things, because it increases their edge. Anything the books want, you don’t, so please just stick to straight bets.
Another important rule is to never risk more than 2.5% of your bankroll on any one game. EVER. Not for the ‘lock of the week/month/year/century/millennium/whatever’. Ever.
Why 2.5%? Normally a poker bankroll should be around 15-20 buyins, right? Well, unlike poker, where you can finish up or down any amount, a game pretty much only has two outcomes: A) You almost double up your bet B) You lose your bet. And the outcome can go from A to B or B to A because of the flukiest stuff: a hail mary pass at the last second; a team choosing to run the ball instead of kneeling it; a receiver dropping a pass into the arms of an opposing defender; and countless other scenarios that I can’t even imagine right now. Because of the increased volatility, your bankroll will need to be larger to handle the swings that lady luck will eventually throw your way.
And even though 2.5% may seem like a small number, think about how many plays you may have on a given NFL Sunday. Multiply that number by 2.5. See just how much of your bankroll you’re putting into play that day?
In fact, many professional handicappers consider 1% or even .5% to be the largest percentage of your bankroll that any one bet should take. However, with experience, I’ve found that for most beginners who know a thing or two about sports and the logistics of betting are allright with 2.5%.
So there you go: Sportsbetting Bankroll Management 101 for Poker Players. I’ve seen too many poker players make the transition to sportsbetting only to have their asses handed to them. Be better than that. Be as good as you know you can be. |
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