Question for Full-Time Gamblers?

[BranFlakes]

Was thinking of devoting more time into this and was wondering what kind of bankroll and how many "outs" you guys needed when you decided to go full-time?
I realize money management is probably the key to success (as well as picking the right team). How hard is it to stay the course and not get down and try to bet the farm? Is 2-3% of bankroll per wager about right?
I do respect you guys on here and would appreciate some legitimate comments before I decide to pursue this further. Thanks.

 

[Moon88]

100 k bankroll would be nice.

 

[VegasPlayer777]

My bankroll progressions are 2% - 3% and max 5%. I use four offshore books and take 8-10 trips per year in Vegas (never touch the table games). Set conservative goals each week and then place your bets to achieve that goal. Remember...people that play the market would be thrilled with a 20% return. If you lose the week..focus your energy on analyzing the losses and focusing on the next week. If you stay with straight bets your break even is 53.8%. Never ask others "who they like" as it only clouds your judgement. I make sure I have some diversions such as working out and a part time job I enjoy. Be sure to buy health insurance and contribute to an IRA.

Good luck.

 

[BranFlakes]

Great advice Vegas. This is the kind of info that is really helpful. Thanks.

 

[Iceman]

I am funded on average at on around 12 offshore accounts (23 signed up for), also use 2 locals. Shopping for lines means everything to me, much more than capping. I play the numbers and the market more than the teams. Watching and studying line movement are VERY important.

My main is goal is to try and beat the closing line on my bet. If I am doing that I am usually winning more than I am losing. That would be my #1 secret to someone just getting into this. Believe it or not, I worry more about making good bets at good numbers and low juice as much as I do the results. I figure after the game has started the hard part is over and their is nothing more I can do.

I try not to watch any game that I bet on but checks scores through out the nite. Bet only .5 % of bankroll on average. That way I have a 200 unit bankroll and seems to take almost all of the stress out of it. I try to make ALOT of plays, this eliminates bad luck and bad beats. You just move on as you will have LOTS more plays and such a little % of bankroll bet, it shouldn't hurt too much, if it does you are betting to big.

I try to keep accurate records and break my gambling down into months and for the year. The goal is to have a winning month.


Last word of advice: Be prepared for HUGE flucuations in your bankroll and remember the old saying it is a marathon not a sprint. Treat it like that and you have a decent chance.

Just one man's opinion.
Good Luck!!

 

[Fishhead]

Ice- I dated a girl in the U.P. for two years........are you sure your not my son?

 

[MrJ]

Was thinking of devoting more time into this and was wondering what kind of bankroll and how many "outs" you guys needed when you decided to go full-time?

Not a simple answer, as it totally depends on your potential income, your current financial situation, any responsibilities etc. Also depends on how comfortably you want to meet your requirements.

I realize money management is probably the key to success (as well as picking the right team)

IMO +ev, management and dicipline are the 3 key ingredients.

How hard is it to stay the course and not get down and try to bet the farm?

If you have to ask this then keep your day job

Is 2-3% of bankroll per wager about right?

Depends on your edge, your tolerance of variance, how much of a hit you can take to your BR without struggling.

 

[Iceman]

Ice- I dated a girl in the U.P. for two years........are you sure your not my son?

Remember I am only 10 years younger than you. If so, than you truly are the man. Plus alot of the stuff you (and a few others) have preached I have took notes on and have tried to apply it.



Another thing Fish, I have been wanting to e-mail you for a few months and ask you a few questions that I don't want to go into detail on here (relax just gambling stuff :lolBIG: ). I have tried to emulate to the best of my knowledege a few guys on here and their styles, I am sure I have a LONG way to go but feel like I am getting there.

You once gave out some decent advice to me and I have tried to follow it, it was something like find your niche and do what you do best (gambling wise) and I think I am similar (at least I am trying to be) to how you go about your daily gambling but more or less want to make sure I am attacking this the FISH (and a few others who I think go about it like you) way.

This gambling game means as much to me than even the money won (though that is nice), it is a challenge that I want to succeed at more than anyone I know. Anyways if you don't mind I would like to shoot you an e-mail here in the next week (when I have some time off). Thanks Daduppy:

* sorry to hijack your thread, PK also one more thing PK, listen to Fishhead and a few others and write down what they post, it is WAY more valuable than any winners given out here. Its a payoff that will last a lifetime.

 

[PyRoCaPPer]

What kind of goals should one set for specific time periods?

 

[Moon88]

Remember I am only 10 years younger than you. If so, than you truly are the man. Plus alot of the stuff you (and a few others) have preached I have took notes on and have tried to apply it.



Another thing Fish, I have been wanting to e-mail you for a few months and ask you a few questions that I don't want to go into detail on here (relax just gambling stuff :lolBIG: ). I have tried to emulate to the best of my knowledege a few guys on here and their styles, I am sure I have a LONG way to go but feel like I am getting there.

You once gave out some decent advice to me and I have tried to follow it, it was something like find your niche and do what you do best (gambling wise) and I think I am similar (at least I am trying to be) to how you go about your daily gambling but more or less want to make sure I am attacking this the FISH (and a few others who I think go about it like you) way.

This gambling game means as much to me than even the money won (though that is nice), it is a challenge that I want to succeed at more than anyone I know. Anyways if you don't mind I would like to shoot you an e-mail here in the next week (when I have some time off). Thanks Daduppy:

* sorry to hijack your thread, PK also one more thing PK, listen to Fishhead and a few others and write down what they post, it is WAY more valuable than any winners given out here. Its a payoff that will last a lifetime.

Ice Fish is an excellent source for knowledge. Who are the few others you prefer?

 

[X-Files]

1} what kind of bankroll and

2} how many "outs" you guys needed when you decided to go full-time?

3} I realize money management is probably the key to success (as well as picking the right team).

4} How hard is it to stay the course and not get down and try to bet the farm?

5} Is 2-3% of bankroll per wager about right?

1} 100G for scalping. Make around 5G/month. 60G/yr.

2} SIA & Piny are the best two to have. Also good to have about 8
more to bonus whore & as backup/insurance. BI, Oly, CB, WWTS,
bet365, Sky, etc Whoring has been a big % of my income ;

3} In scalping one can go bigger since there is relatively little risk.

4} Easy if you can handle long hours 7 days a week.

5} See 3. In high risk gambling as opposed to scalping it is personal
taste depending on your goals. Personally i keep it much less than
2-3% as a rule. But, then, rules are made to be broken.

 

[RoBoKnowsCop]

This is not the best time to get into this.
​

 

[jimmyk+]

I would suggest setting aside 6-12 months of whatever your monthly expenses are (rent/food/utilities etc.) , this is a great way to avoid chasing/pressing because the bills are due . Also , be prepared to go bust at least once if you are going to do this full time. No matter who you are, or how good you are , variance can, and will catch up w/ you at some point. As long as you have another source of income you can recover/rebuild your b/r and start again. Jmho !!

 

[BranFlakes]

Great comments guys and good honest advice.
Mr. J. I liked your comment on betting the farm.
Robo I think I know what you are saying but could you elaborate on your comment please.

 

[WVU]

To do this full time as a living you will need a 100k bankroll and 10 identities. You cannot do this full time just picking winners. You have to be able to hustle bonuses and shop lines.

anyone who does this full time knows I am 100% right, although they probably will not admit it.

 

[Holysmoke+]

Ice- I dated a girl in the U.P. for two years........are you sure your not my son?

transvestites cant have children

 

[jwunderdog]

For sanity reasons if you are betting more then 10 games at a time, 3% is to high. In one session you could wipe out 30% of your bankroll. If you only bet a couple at a time then 3% maybe alright, you may end up in the same place as betting 10 games at 3% but it will take longer, and the likelyhood of suicide will be reduced.:toast:

 

[Dawoofdaddy]

I will suggest you gradually become full-time.

Initially dont quit your day job for you may flop and have difficulty returning to your former work.

Before I walked away from the 9-5 grind, I basically only worked part-time a couple years.

You will put in more "work" hours as a full-time gambler than you ever would have with another career, so be sure you are willing to commit the time.

 

[jwunderdog]

For sanity reasons if you are betting more then 10 games at a time, 3% is to high. In one session you could wipe out 30% of your bankroll. If you only bet a couple at a time then 3% maybe alright, you may end up in the same place as betting 10 games at 3% but it will take longer, and the likelyhood of suicide will be reduced.:toast:

disclaimer: I am not a fulltime gambler.

 

[royalfan]

Just learn how to be able to evaluate what you are seeing watching a game and the rest is easy. I am the polar opposite in style from Iceman and Fishhead. They have a "grinding" style, which can be very effective if you want to work very hard. I have a "talent evaluating" style which does take time watching games, but I would rather spend my time doing that than monotiring line movements all day long trying to find a point or point and a half middles and sides. The key is finding your personal style and work at it hard initially to develop it.