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ihategnomes
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12-14-2005, 06:17 PM
Post subject: Sports betting Bankroll Management
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#1 (permalink)
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Full House
Join Date: Aug 2004
Location: Louisiana
Posts: 1,225
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Anyone know of any bankroll management guides to sports betting? Or at least a general idea?
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Field mice are fast, but owls can see in the dark.
<Bbickes> i still wanna know if the thing in your avatar is a real chick or not
<Bbickes> or am i e-crushing a dude
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Grand_MasterB
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Flush
Join Date: Jul 2004
Location: Cincinnati
Posts: 466
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They say dont bet more then 5% of your bankroll per day.
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Demiparadigm
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4-of-a-Kind
Join Date: Feb 2005
Location: Party 6 max
Posts: 1,602
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http://www.flopturnriver.com/phpBB2/...=190562#190562
Do I get a cookie?
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To win in poker you only need to be one step ahead of your opponents. Two steps may be detrimental.
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ihategnomes
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Full House
Join Date: Aug 2004
Location: Louisiana
Posts: 1,225
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Maybe, if you can me how hourly rates apply to sports gambling.
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Field mice are fast, but owls can see in the dark.
<Bbickes> i still wanna know if the thing in your avatar is a real chick or not
<Bbickes> or am i e-crushing a dude
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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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The entirely safe way is to bet no more than 1% of your bankroll on any given game, and have no more than 5% of your bankroll in place on any one day.
Then, you have the argument between flat betting and varied betting. It's recommended that everyone start out with flat betting, because that way, all you have to do is worry about picking the right plays, rather than picking which plays are "better".
Personally, I like to vary my bets, but I can't even come close to calling myself a professional gambler.
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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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Not sure if I'm allowed to post this (Xianti, you can kill it if you want to), but here's a good thread about money management for sports betting.
http://forum2.therx.com/showthread.p...oll+management
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Demiparadigm
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4-of-a-Kind
Join Date: Feb 2005
Location: Party 6 max
Posts: 1,602
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Quote:
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Originally Posted by ihategnomes
Maybe, if you can me how hourly rates apply to sports gambling.
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That post has nothing to do with hourly rates.
Quote:
f = [p*(v+1)-1]/v,
where p = wins/number of games
v = your odds "to 1"
f = the fraction of your bankroll you should bet
Given that your chance of winning is p, and that you are receiving v-to-1 odds on your bet, then the fraction of your bankroll that you should wager to maximize your rate of bankroll growth is the f given above. This value can also be plugged back in above to find out what the maximum growth rate actually comes out to be.
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betting less will decrease your risk of ruin, but betting more will increase your risk AND decrease your EV/$ wagered.
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To win in poker you only need to be one step ahead of your opponents. Two steps may be detrimental.
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