I replied to a fellow's inquiry in another thread about how to structure things starting out. I thought it might be helpful to any beginners if I posted this a general thread:
Ravi31leafs, let me throw my two cents in regarding your question; though I am certainly not an expert or professional by any means(so take my two cents with a grain of salt; and perhaps a pound of cure).
Conventional thinking usually says not to bet more than 10% of your bankroll any particular day. That's probably a pretty good rule of thumb, because there are going to be times when you are going to experience a bad run. It's just inevitable. And you want your bankroll to be able to absorb those bad run periods without stopping you out of the game entirely.
As well, many cappers will tell you to bet the same amount on every game (which is what I try to do). However, I note that many Covers cappers bet varying amounts on games depending upon how they feel about the "value" of the game. And that's proper if you have a good feel for "value". Be very wary if you don't though... not good money management.
How many games a day? That's a $64,000 question. To me, that will depend upon your style, your system, and your ability to assess "value". You will need to work that concept out yourself. Myself, I try to limit myself to 3 - 5 games per day. I find limiting the number of games forces me to focus harder to uncover "value". A smaller number of games is also just easier for me to deal with psychologically. Other people are quite successful doing the complete opposite though. So that's something you will need to work out for yourself. There's no "one size fits all" answer for that.
Let me just state that money management is ABSOLUTELY CRUCIAL. And if you don't understand what I mean by money management, you're not really ready for this thing. Do more reading and study. Money management and discipline are the reason that most people fail in this endeavor. Even with an excellent system, without discipline and good money management, you will fail.
Work out a system that seems to be working for you, but then diligently devise further additional optimizations to your system. You will ultimately need every bit of the extra oomph that the extra time and study will bring you. When you have devised and refined your system, have the discipline to stick to it. Avoid the inevitable impulse bets that will ultimately entice you. Impulse betting will kill you.
And the absolute best advice that I can give you is this: START OUT SMALL AND HONE YOUR SYSTEM thoroughly before going whole hog. You will find that you are constantly iterating and refining your system even when you think it is ready to be cast in stone (whatever form your system might take). It takes time and a lot of hard work to devise a really workable and successful system. Spend the time and the necessary apprenticeship period before betting your really BIG BUCKS. You will be glad you did.
The sports betting landscape is littered with the carcasses of those who did not do enough study and preparation. Be very wary my friend... and good luck to you. I wish you all the success in the world.
I replied to a fellow's inquiry in another thread about how to structure things starting out. I thought it might be helpful to any beginners if I posted this a general thread:
Ravi31leafs, let me throw my two cents in regarding your question; though I am certainly not an expert or professional by any means(so take my two cents with a grain of salt; and perhaps a pound of cure).
Conventional thinking usually says not to bet more than 10% of your bankroll any particular day. That's probably a pretty good rule of thumb, because there are going to be times when you are going to experience a bad run. It's just inevitable. And you want your bankroll to be able to absorb those bad run periods without stopping you out of the game entirely.
As well, many cappers will tell you to bet the same amount on every game (which is what I try to do). However, I note that many Covers cappers bet varying amounts on games depending upon how they feel about the "value" of the game. And that's proper if you have a good feel for "value". Be very wary if you don't though... not good money management.
How many games a day? That's a $64,000 question. To me, that will depend upon your style, your system, and your ability to assess "value". You will need to work that concept out yourself. Myself, I try to limit myself to 3 - 5 games per day. I find limiting the number of games forces me to focus harder to uncover "value". A smaller number of games is also just easier for me to deal with psychologically. Other people are quite successful doing the complete opposite though. So that's something you will need to work out for yourself. There's no "one size fits all" answer for that.
Let me just state that money management is ABSOLUTELY CRUCIAL. And if you don't understand what I mean by money management, you're not really ready for this thing. Do more reading and study. Money management and discipline are the reason that most people fail in this endeavor. Even with an excellent system, without discipline and good money management, you will fail.
Work out a system that seems to be working for you, but then diligently devise further additional optimizations to your system. You will ultimately need every bit of the extra oomph that the extra time and study will bring you. When you have devised and refined your system, have the discipline to stick to it. Avoid the inevitable impulse bets that will ultimately entice you. Impulse betting will kill you.
And the absolute best advice that I can give you is this: START OUT SMALL AND HONE YOUR SYSTEM thoroughly before going whole hog. You will find that you are constantly iterating and refining your system even when you think it is ready to be cast in stone (whatever form your system might take). It takes time and a lot of hard work to devise a really workable and successful system. Spend the time and the necessary apprenticeship period before betting your really BIG BUCKS. You will be glad you did.
The sports betting landscape is littered with the carcasses of those who did not do enough study and preparation. Be very wary my friend... and good luck to you. I wish you all the success in the world.
I've always had the biggest challenge is when you go 0fer in the early games, the biggest temptations is to triple or quadruple up in the late games. If you can avoid that temptation you are that much farther ahead.
I've always had the biggest challenge is when you go 0fer in the early games, the biggest temptations is to triple or quadruple up in the late games. If you can avoid that temptation you are that much farther ahead.
A couple of things I'll add that I stick to as best I can are...
I will bet an ODD number of games most nights because if you bet an even number and split you will lose for the day because of vig.
Be realistic...when I first started out my goal was 200/week profit. Once I attained it I stopped and collected it from the book (local). If I made more than 200 that remaining amt became my new bank and I'd try to run it up as high as possible. If I lost it I'd stop for the week and again collect the 200.
I originally set my limit (goal) as if I had to work a part time job at whatever the wage was for the job.
Even today my goal is 800-1000/week. If I get ahead I will still bet but come Sunday you better believe I'm going to collect the 800-1000. I will take a shot at a hugh parlay because it has built in money management where you can only lose a small amt but you have action all day and a possibility to make a score.
If you stick to this style of betting 2 things will happen....you'll do OK and your book will limit your wage amount or dump your action altogether because the books WANT your money - they don't want to pay you every week. Always be on the lookout for a new book just in case.
A couple of things I'll add that I stick to as best I can are...
I will bet an ODD number of games most nights because if you bet an even number and split you will lose for the day because of vig.
Be realistic...when I first started out my goal was 200/week profit. Once I attained it I stopped and collected it from the book (local). If I made more than 200 that remaining amt became my new bank and I'd try to run it up as high as possible. If I lost it I'd stop for the week and again collect the 200.
I originally set my limit (goal) as if I had to work a part time job at whatever the wage was for the job.
Even today my goal is 800-1000/week. If I get ahead I will still bet but come Sunday you better believe I'm going to collect the 800-1000. I will take a shot at a hugh parlay because it has built in money management where you can only lose a small amt but you have action all day and a possibility to make a score.
If you stick to this style of betting 2 things will happen....you'll do OK and your book will limit your wage amount or dump your action altogether because the books WANT your money - they don't want to pay you every week. Always be on the lookout for a new book just in case.
one thing i say instead of putting a % on a bet or a day or week, dont bet more than you would in the same situation if you lose this bet, or day or week.
in other words anything you do you should still leave yourself in a position to do it again if you lose.
one thing i say instead of putting a % on a bet or a day or week, dont bet more than you would in the same situation if you lose this bet, or day or week.
in other words anything you do you should still leave yourself in a position to do it again if you lose.
damn i cant get it all in one post. something else to add.
sometimes i bet bigger on bigger games. or if its just a hangin out betting games w/ my buddies type of thing. i seperate this from my serious gambling. so if i lose say $500 on the superbowl, that comes out of my savings. not my bankroll. if i win thats my money for whatever, not for gambling. make sense?
damn i cant get it all in one post. something else to add.
sometimes i bet bigger on bigger games. or if its just a hangin out betting games w/ my buddies type of thing. i seperate this from my serious gambling. so if i lose say $500 on the superbowl, that comes out of my savings. not my bankroll. if i win thats my money for whatever, not for gambling. make sense?
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