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Buddy Love5
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02-10-2006, 01:14 AM
Post subject: Bankroll
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#1 (permalink)
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Join Date: Nov 2005
Location: Rector
Posts: 43
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I was just wondering how large you want to be for sports betting?
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Grand_MasterB
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Flush
Join Date: Jul 2004
Location: Cincinnati
Posts: 466
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Well it depends of course on how much you are looking to wager per average on a game. A common rule is to not bet more then 5% of your bankroll in any given day. I think that is a good rule for people just getting into sports betting, but think its a little to conservative for experienced bettors. If you have more experience i think its ok to bet up to 10-15% of your roll per day but i dont like to bet more then 10% of it on a single game.
So if you are just starting and looking to bet say $5 - $10 a game i would start with around $300. If you do your homework and just arent betting on teams bc you "have a feeling" you shouldnt go through all that, but its a safe start.
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ensign_lee
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4-of-a-Kind
Join Date: Feb 2005
Location: The University of TEXAS at Austin
Posts: 2,237
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Grandmaster. I think that is WAY too large of a variance way.
Most experienced players bet 1-3% of their bankrolls at any one time. Sportsbetting is like poker: variance can be a BITCH.
I've also heard of a "kelly system", in which you bet a constantly adjusted percentage of your bankroll, which has some interesting bits to it.
However, I've been told numerous times to just flat bet a certain amount (2%) of my starting bankroll until I double my bankroll, and then think about readjusting my bet size.
Like Poker, Sportsbetting is supposed to be all about money managment.
When I proposed flat betting 10% of my initial bankroll a game to some of the more experienced bettors that I've dealt with, they said that was a sure way to ruin. Now, a 10% kelly betting strategy is another strategy, but yeah.
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wiesman02
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Join Date: Feb 2005
Location: cheshire, ct
Posts: 54
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This is what I do. Each game I bet 2 % of my roll ($10,000), and so each bet is $220 to account for juice. I disagree with betting no more than 5% of your 'roll in any given day. I bet college b-ball, and on Saturdays, I'll bet around 14-16 teams. That comes out to ~$3000 in bets / $10,0000 = 33% of my roll. As long as u play according to those rules, you're not gonna go broke unless you're bad at capping. On average, I hit above 53% so i'm all good
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Grand_MasterB
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Flush
Join Date: Jul 2004
Location: Cincinnati
Posts: 466
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Quote:
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Originally Posted by ensign_lee
Grandmaster. I think that is WAY too large of a variance way.
Most experienced players bet 1-3% of their bankrolls at any one time. Sportsbetting is like poker: variance can be a BITCH.
I've also heard of a "kelly system", in which you bet a constantly adjusted percentage of your bankroll, which has some interesting bits to it.
However, I've been told numerous times to just flat bet a certain amount (2%) of my starting bankroll until I double my bankroll, and then think about readjusting my bet size.
Like Poker, Sportsbetting is supposed to be all about money managment.
When I proposed flat betting 10% of my initial bankroll a game to some of the more experienced bettors that I've dealt with, they said that was a sure way to ruin. Now, a 10% kelly betting strategy is another strategy, but yeah.
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i did say that the common rule is to bet no more then 5% of your roll in any day. i just feel like if you have experience in betting games its alright to bet more then that on a big card. thats all i was trying to say.
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