First off, let me say that my unit size in $1.00. Yes, that's right one tiny little US Dollar.
Second, I play a number of systems, mostly chases, that may or may not be profitable as a straight chase. You've read it here and elsewhere...chasing the elusive 1 unit by betting 800 units on a E game. Yeah, I'm not into that either.
On the A game of the series I play all games. I plug in the system bets, then for the remaining games as I play the dogs. One chase system is the dog will win one game out of three.
My problem has been not having or taking the time to figure out a way to recover the A game losses while keeping the A game wins ( and B games) and keeping the cost of the plays down...unlike straight chases.
Is labby the way to go? Lines can get large. How many lines if I'm playing every A game but only playing the losing A games as B games (and B to C too). Someone I know mentioned about using 1 labby with 15 units (15 series playing at a time for MLB) clearing the winners, refill the openings back to 15 numbers and then spreading the losses over all the numbers, and then place my bets...not using all of the labby.
Remember, I'm doing this for fun, so I'm not going to stop playing...just in case you want to post that!
This is to be friendly discussion on different types of Money Management Systems. After all, we are all here to 'Beat the Bookie'
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To remove first post, remove entire topic.
First off, let me say that my unit size in $1.00. Yes, that's right one tiny little US Dollar.
Second, I play a number of systems, mostly chases, that may or may not be profitable as a straight chase. You've read it here and elsewhere...chasing the elusive 1 unit by betting 800 units on a E game. Yeah, I'm not into that either.
On the A game of the series I play all games. I plug in the system bets, then for the remaining games as I play the dogs. One chase system is the dog will win one game out of three.
My problem has been not having or taking the time to figure out a way to recover the A game losses while keeping the A game wins ( and B games) and keeping the cost of the plays down...unlike straight chases.
Is labby the way to go? Lines can get large. How many lines if I'm playing every A game but only playing the losing A games as B games (and B to C too). Someone I know mentioned about using 1 labby with 15 units (15 series playing at a time for MLB) clearing the winners, refill the openings back to 15 numbers and then spreading the losses over all the numbers, and then place my bets...not using all of the labby.
Remember, I'm doing this for fun, so I'm not going to stop playing...just in case you want to post that!
This is to be friendly discussion on different types of Money Management Systems. After all, we are all here to 'Beat the Bookie'
In my opinion any progression system is not that good at all, chasing losses (bad money management) is I think, the #1 reason to go bankrupt.
In case you insist in playing a chase system I will only recommend having a very (but very) small units sizes, let's say you should have at least 200-300 units on your bankroll and apply some kind of Labby or even Martingale. In this case $1.00 sounds like a good amount, but ! wonder how many units you should win to make a decent profit. ??
I guess that if you have a system that doesn't have a winning pct. "Straight" then it may not be that good. Find the winning/losing spots and just stick with the winning ones, you can also fade the losing ones for profit. Good Luck
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In my opinion any progression system is not that good at all, chasing losses (bad money management) is I think, the #1 reason to go bankrupt.
In case you insist in playing a chase system I will only recommend having a very (but very) small units sizes, let's say you should have at least 200-300 units on your bankroll and apply some kind of Labby or even Martingale. In this case $1.00 sounds like a good amount, but ! wonder how many units you should win to make a decent profit. ??
I guess that if you have a system that doesn't have a winning pct. "Straight" then it may not be that good. Find the winning/losing spots and just stick with the winning ones, you can also fade the losing ones for profit. Good Luck
Great thread Buckeye. To me, I think chasing is one of the few ways for the average better to actually make money in sports investing. I know many people will disagree (rightfully so) but I'm guessing that most people here do not wager enough per bet to ever make any serious money in this. During my best couple of years I would average 80 units a year, betting $10 a game. A $100 unit gets me $8000 a year, but that's with all of the time invested handicapping. That's not much money per hour. If I was wagering $1000 a game, I still wouldn't be making enough to support a family on it, and there is no way that I'll ever wager $1000 a game, or ever have the bankroll for it (nor would I want the stress that goes along with it.) So, by chasing it allows me to make 40 units in two weeks (that's what I've been making lately.)
Now, three big chase losses could destroy my bankroll, but I know that I'm not going to make any serious money anyway; I do this so that I can stay in the game, respond on these forums, and be a part of the sports investing "family." If I get my bankroll to a respectable size, then maybe I'll re-evaluate how I do things.
I do agree that one would need to keep the unit size very small, as to not stress out over chases and to make it easier to recover losses. Lately I've been playing the with idea of spreading out my (A) game losses amongst my remaining (B) games and any new chases that I begin. That way I won't have a huge bet if a game goes to a (D) game. For example, if I have 10 A games, and I lose 4, I will spread out my 4-losses amongst the remaining B games and any new A games that I will be playing. I'll let every one know how it goes.
One final thing that I do, if I have a really good chase day, I just eat the losses and don't continue chasing my losing series. That has saved me a few series losses. For example, Hat's chase system went 14-2 yesterday. I won't be chasing the two losing games. I will take my 10 unit win that day and be happy with it. Good luck guys.
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Great thread Buckeye. To me, I think chasing is one of the few ways for the average better to actually make money in sports investing. I know many people will disagree (rightfully so) but I'm guessing that most people here do not wager enough per bet to ever make any serious money in this. During my best couple of years I would average 80 units a year, betting $10 a game. A $100 unit gets me $8000 a year, but that's with all of the time invested handicapping. That's not much money per hour. If I was wagering $1000 a game, I still wouldn't be making enough to support a family on it, and there is no way that I'll ever wager $1000 a game, or ever have the bankroll for it (nor would I want the stress that goes along with it.) So, by chasing it allows me to make 40 units in two weeks (that's what I've been making lately.)
Now, three big chase losses could destroy my bankroll, but I know that I'm not going to make any serious money anyway; I do this so that I can stay in the game, respond on these forums, and be a part of the sports investing "family." If I get my bankroll to a respectable size, then maybe I'll re-evaluate how I do things.
I do agree that one would need to keep the unit size very small, as to not stress out over chases and to make it easier to recover losses. Lately I've been playing the with idea of spreading out my (A) game losses amongst my remaining (B) games and any new chases that I begin. That way I won't have a huge bet if a game goes to a (D) game. For example, if I have 10 A games, and I lose 4, I will spread out my 4-losses amongst the remaining B games and any new A games that I will be playing. I'll let every one know how it goes.
One final thing that I do, if I have a really good chase day, I just eat the losses and don't continue chasing my losing series. That has saved me a few series losses. For example, Hat's chase system went 14-2 yesterday. I won't be chasing the two losing games. I will take my 10 unit win that day and be happy with it. Good luck guys.
If you use a chase system, I like the idea of setting a certain amount for your bankroll and place your bets accordingly. I never expose more than 20-25% of my bankroll to any one chase system. So if you have a $4000 bankroll, I'd maybe put $1000 on a system I like. If it is a chase where you are betting on heavy faves, I set my betting unit to losing 2 back to back 3 game chases with the lines being -200 or so. In this case, chasing for 3 games at -200 each game would be a loss of $520 with a $20 unit size.
That being said, I've personally been trying to limit my chases on any heavy faves. I'm really liking my 2 team parlay chase on dogs. It is an 8 game chase with set betting amounts. One could easily modify it to a 10 game chase or more with the same total risk spread out over these bets. I find it less stressful to bet these set amounts for a much bigger return than chasing heavy favorites.
Stay disciplined and manage your bankroll
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If you use a chase system, I like the idea of setting a certain amount for your bankroll and place your bets accordingly. I never expose more than 20-25% of my bankroll to any one chase system. So if you have a $4000 bankroll, I'd maybe put $1000 on a system I like. If it is a chase where you are betting on heavy faves, I set my betting unit to losing 2 back to back 3 game chases with the lines being -200 or so. In this case, chasing for 3 games at -200 each game would be a loss of $520 with a $20 unit size.
That being said, I've personally been trying to limit my chases on any heavy faves. I'm really liking my 2 team parlay chase on dogs. It is an 8 game chase with set betting amounts. One could easily modify it to a 10 game chase or more with the same total risk spread out over these bets. I find it less stressful to bet these set amounts for a much bigger return than chasing heavy favorites.
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