Money Management

Looking for cappers opinions on what they currently use for money management system? Straight(% of bankroll you use on any given wager and do you have a total % cap on all games pending at 1 time), chase systems, parlay systems etc..? My opinion is disciplined money management is the #1 rule in sports gambling. But it's much easier said than done.

I make my money by chasing systems. For a 4 game chase I use around 2% of my bankroll. I never play it to a full game 4 though. Around game 3 I split half my bet on ML and half on -1 (for dogs +1.5 & +1). Then for game 4 I usually only do 50% of the required wager. 

Thanks Bart! Have you consistently made money over a long period with that money management strategy?

My strategy is I find what I think are the 3 best values/plays that day and I wager 4.5% of my bankroll on each. Anyone's opinion on that strategy I'd definitely like to hear.

Bet less than 5% of your current total bankroll per bet at all times.

Manage money plus solid handicapping will keep you in profits for life.
It's per day the amount wagered not per game.

The Max is 5% of bank thats the rule of thumb set by wise guys and sharps notice they never lose for the year!

I start with about $2000 in my sports book real time i have about $500 in cash to bet with each week my fun money so to speak.

There fore every week i can bet the $500 thats my cash bets with locals in sports book i can bet $100 per week NOT per game

I risk say $25 to win $22.50 on 4 games max or 2 games at $50 each PERIOD.

No parlays no teasers straight wagers IF i come up with a push on any number I buy a 1/2 each way and win two bets instead of one.

I use a very complicated Math system to figure the spreads in and many times i come up with margin of victory and the score of each team within 3 points.

Anyway sharps n wise guys stay around 2% - 3% of bank BUT they have HUGE bank rolls mega thousands to bet with You have to see it to believe it.

This year i'm using good old buddy out in Vegas.

I want to stay under the radar in my sports books and with locals who will limit my action if i start dropping dime winners every week.

Got the bank account set up funds are there HE takes the cash out makes my plays and when i win he deposits it in on tuesday cause i may want action on MNF.

Any way every winning bettor uses money management.

NO CHASE SYSTEMS are to be used i'm sure you saw what happened to those who used chase systems in MLB

Damn when i was booking games way back i loved chasers only problem is i had to black ball them for weeks until they paid up.

I mean fully black balled i had to call up the other locals and say names of my losers and thier buddies in case they tried to place a bet.

HEY we pay you when you win Pay us when you lose!

Got out of that long ago after 5 years i couldn't take the stiffs any more.

Had to use muscle to go after them and rough them up every week.

They all cried too same thing But i don't have that kind of money!

I screamed back at them then you shouldn't have kept betting you f...u.c  king P o s degenerate A hole dumb M F. 

Thanks for the response and advice Luckytowin!

Hi,
just wanted to say that although everybody has some theory - the only theory I believe in - is a mathematical theory :)

People will put their right hand in a fire for what they believe is a good way to invest and they will fight for their opinion, but that is all that it is - the opinion. Rarely will they do some calculus on the subject. Those who do know how to calculate - they often find out that the truth about correct way of investing is maybe far from what they have been expecting..

Personally, I don't touch my bank until I've pull my picks through AdvancedBetCalc.com

Hope it will help you win big$..
:)

...especially "Best System Table" tab, it shows what will bring you biggest earnings per invested $ -  if you hit two or three or..  and if you have any statistical data about your abilities to guess the average odds - then by clicking "Advanced" button - it will tell you what is the best theoretical invest amount & system to play...

People here are occupied with "chase" systems (as they haven't already learned that chase is WRONG approach) and I guess they underestimate importance of money management. You are probably already ahead of them just for thinking about it..

try opening thread named: "5 chase" ..and try to count clicks :)
"money management" on the other hand... but that is one of the main reasons why 90% of people loses money on betting..
:)

Thanks bookus!

WEll if you havent leraned from years of losing when chasing losses than foorking forgetabbouttit.

I must have lose two college educations from when i was 17 until i turned 30 IN NFL alone Lost $220 a week maybe i won 3 weeks out of 17.

Colege too i lost many games but smaller bets $25 still it was 1000's per year.

BUT i was rock solid in MLB my bookie hated me i hammered him every week taking dogs average price +135 and i only had the newspaper NO internet way back in late 70's and early 80's

THen after years of not betting footbal i started up again in 1997 my 1st sports book was the greek in 99  plus a local i had.

 

the MFER limited my action to $50 per game i waxed his butt for 7 str8 weeks he soon saw i was on other side of his squares.

HE had about 50 players.

 

LOL i hate locals they keep trying to screw me by moving spreads off the vegas line and i just wind up taking the dog when they did it.

WEll if you havent leraned from years of losing when chasing losses than foorking forgetabbouttit.

I must have lose two college educations from when i was 17 until i turned 30 IN NFL alone Lost $220 a week maybe i won 3 weeks out of 17.

Colege too i lost many games but smaller bets $25 still it was 1000's per year.

BUT i was rock solid in MLB my bookie hated me i hammered him every week taking dogs average price +135 and i only had the newspaper NO internet way back in late 70's and early 80's

THen after years of not betting footbal i started up again in 1997 my 1st sports book was the greek in 99  plus a local i had.

 

the MFER limited my action to $50 per game i waxed his butt for 7 str8 weeks he soon saw i was on other side of his squares.

HE had about 50 players.

 

LOL i hate locals they keep trying to screw me by moving spreads off the vegas line and i just wind up taking the dog when they did it.

you're very welcome, hope it helps..

value bets are the key, because there are not many bets to win with absolute certainty.. but if you do find one from time to time, then i hope you'll not going to stop on 4.5% :)

https://www.covers.com/postingforum/post01/showmessage.aspx?spt=23&sub=726543

Great write up Lippsman. Thanks for sharing! After years of living and learning I'm close to having that discipline. I think I'm decent at picking winners it's just a matter of not chasing(and staying off of Black Jack in the casinos).

really good stuff,
it's a pity that people go by persuasion and not by math.. i saw that you mentioned it in your post.. and it gives me a little hope that there is still some common sense out there because the real truth is - that setting real bankrol and investing by percentage is "the way forward".
But as a mathematitian, i am hurt that good players fail to maximize their knowledge of sports as the result of wrong persuasion. The one - that it is only right to play singles and that it is wrong to invest 25% of your bank..
Few decades ago Kelly answered that using elegant math.. ..and few months ago someone answered that for parlays on that AdvancedBetCalc.com/ProfitTable.aspx
So all conversation on that subject should end with a link to that page.. Cheers

ok lips man shared his post i'll give the wiseguys and sharps system

#1 bet no more than 2% of your bank PER DAY

IF you have a 100$ bank real time or offshore thats $20 for tyhe DAY not per game

 

AS you keep winning take adavatage of it add a % if streak keeps going add another % BUT soon as you hit that 0 for week back off use the 2% until you recoup that losing week.

 

IT works 100% of the time YOU never will lose any season again no matter what sport you wager on

 

Bases is differnt and Hockey they are money line games with option of laying 1  1/2 runs or pucks or taking them which of course lowers your DOG price and thats stupid YOU like the DOG to win BET them

I do not touch Hockey at all i have enough action with NFL and NBA and MLB