School In.....a Course In Money Management 101...

[ACE-ACE]

HOW GOOD ARE YOU IN MONEY MANAGEMENT SKILL....

1. AFTER A SHORT-TEAM WINNING PERIOD...ARE YOU QUICK TO RAISE YOUR BET AMOUNTS FOR THE FOLLOWING WEEK?

2. AFTER A SHORT-TEAM LOSING PERIOD,DO YOU THAN LOWER THE AMOUNT OF YOUR PLAYS?

3. DO YOU(OR HAVE YOU EVER) PUT ALL OF YOUR ACTION ON ONE GAME?

4. DO YOU EVER FIND YOURSELF CHASING YOUR LOSSES?

IF YOU ANSWERED "YES" TO ANY OR ALL OF THOSE QUESTION,YOU MAY WANT TO CONSIDER BREACKING A BAD HABIT OR TWO.


POOR MONEY MANAGEMENT GENERNATES MORE LOSSES FOR PLAYERS THAN BAD HANDICAPPING.....
EVEN THE WORST BETTORS SELDOM LOSE MORE THAN 55% OF THEIR PICKS.ON THE OTHER HAND,GOOD MONEY MANAGEMENT SKILL WILL NOT ALWAYS MAKE YOU A WINNER(THAT STILL HAS TO COME FROM CHOOSING THE RIGHT TEAMS),BUT IT SURE WILL HELP YOUR BANKROLL LAST.....

WHAT YOU NEED TO KNOW.....

MONEY IS AN EMOTIONAL THING..THE MORE YOU HAVE,THE MORE YOU SPEND...IF YOU DONT HAVE ENOUGH OF IT, THAN YOU'RE LEFT WANTING MORE....
GENERALLY SPEAKING,THOSE TWO FACTORS A LONE WILL DRIVE PEOPLE TO DO THINGS THAT THEY PROBABLY SHOULDN'T DO...TO AVOID HEADING DOWN THIS PATH,HOWEVER,HERE'S WHAT YOU SHOULD DO;......

KEEP YOUR BETS TO REASONABLE,AFFORDABLE AND CONSISTENT AMOUNTS AND YOUR BANKROLL WILL LAST A LONG TIM.....

IF YOU PICK MORE THAN 52.4% WINNERS,YOU WILL COME OUT AHEAD OF THE BOOK IN THE LONG RUN AND THAT IS THE ONLY TIME FRAME THAT MATTERS!!!

STICK TO SPORTS YOU KNOW....ME 95% NFL...

THERE AN OLD JOKE IN THE INDUSTRY....ABOUT THE GUY WHO RAN HIS ACCOUNT BALANCE RIGHT DOWN TO THE GROUND....
HE WENT 0-5 ON BASEBALL FOR THE DAY
.............0-5 ON BASKETBALL FOR THE DAY
......AND..0-5 ON FOOTBALL FOR THE DAY.....
HE-ASK THE BOOK "WHAT ELSE HAVE YOU GOT ON THE BOARD".....WELL THERE HOCKEY?
WHAT DO I KNOW ABOUT HOCKEY?....TO WHICH THE BOOK REPLIES,"LOOK YOU'RE 0-15 FOR THE DAY....WHAT DO YOU KNOW ABOUT FOOTBALL,BASKETBALL OR BASEBALL?:biglaugh:

ONE OF THE BEST CAPPER I KNOW ONCE SAID"THE SUPER BOWL IS JUST ANOTHER GAME"

WE WAS SITTING AT A BAR....WATCH THE GAME.....I ASKED HIM WHO HE WAS CHEERING FOR....HE SAID THAT HE DIDN'T RELEASE A PICK FOR THAT GAME....I WAS SHOCKED....

HE REALIZED THAT HE PROBABLY DISAPPOINTED A LOT OF PEOPLE......IN MY OPINION,NOT ONLY DID THAT DEMONSTRATE HIS INTEGRITY AS A CAPPER......BUT IT ALSO PROVED THAT HE WAS IN IT FOR THE LONG TERM, HE'S DISCIPLINED!!!!!


..................................FOOD FOR THOUGHT.....................


PEOPLE ARE QUICK TO JUSTIFY THEIR LOSSES......
YET THEY NEVER FORGIVE THEMSELVES WHEN THEY MISS A WINNER.....REMEMBER THAT MONDAY NIGHT FOOTBALL IS JUST ANOTHER FOOTBALL GAME,KNOW THAT THE SUPERBOWL IS JUST ANOTHER FOOTBALL GAME,AND LOOK AT IT THIS WAY..........:THERE'S SOMETHING TO BET EVERY SINGLE DAY OF THE YEAR......IF YOU DON'T PUT YOUR BET IN TODAY,THERE'S ALWAYS TOMORROW......

EVEN IN BETTING,PATIENCE IS SOMETIMES A VIRTUE.....

 

[Lawrence]

Excellent post, and very beneficial to me personally.

 

[tbird]

ace ace you are the man you have helped and tought me a lot about capping just following ur posts thanks man

 

[vrun]

I really glad to see that post Ace, but the irony is that I made all these supied mistakes couple of years ago. If you ask me 4 years ago those questions I'd probably say "yes" to all of em. Gee, I lost so much money in the past, just because I was sucha moron. Anyway, when I read today you post, I've seen my past again. Thanx for remembering me. I learnt my lesson...

 

[Doug]

Ace: It seems you like flat-betting but your picks are for different amounts ! I vary it, depending on how well I like the play, but not over 5% of BR, usually much less. I like your write-ups.

 

[ACE-ACE]

Ace: It seems you like flat-betting but your picks are for different amounts ! I vary it, depending on how well I like the play, but not over 5% of BR, usually much less. I like your write-ups.

the under $1300 bet....is for action....or for fun.....over $2000 bet ...is for the money........My bankroll is higher than most PLAYER.....i have not bet over 8% of my BR.

THE UNDER $1300 BET LET ME BET GAMES THAT ARE FROM THE GUT....ACTION BETS(GOT TO PLAY SOMETHING)........THE OVER $2000 BETS...I PUT A LOT OF WORK IN TOO......(THE BEST PLAY FOR THE MONEY)

 

[RameeshMondesir]

Can't thank you enough for the post as I have probably the worst money management ever. I guess the money management comes with age as I am still a young n' and probably the youngest poster (20 cant even go to vegas yet) on the rx. Any adivce for a young gun getting intot his game on a terrible start. keep the winners and postive posts coming. You are the MAN.

HOLLA

RM

 

[spreadbeater]

Nominating this as "Post of the Year".


SB

 

[Magic32]

I concur with those that are touting the virtues of this thread. As Steve Crist of the Daily Racing Form has said "I've made up for poor selections with some good gambling." He's most likely not the first to say this but it rings just as true. A friend of mine has just lost about 10k in the past three weeks due to his philosophy of "doubling up" each lost bet - the logic being that he's bound to win one of them... sadly he didnt and he's done. We all have stories such as this that we may relate to ACE's thread I would assume.

A couple of questions for you ACE -

1 - I have, in my five years of wagering on football, been able to win approximately 58 to 63 percent of my plays. However, I was never wagering enough to make any "real" money as my economic situation would not permit it. That has changed the past two years in my favor. My question is what, in your opinion, do you feel is a somewhat serious number for a bankroll to begin with at the start of a given season? I realize that everyone's bankroll will be different based on economics... but if someone were to take handicapping seriously and was wanting to make not a salary but more than just "fun money" where do you feel that number would be? I may be being a bit vague here - if so, my apologies.

2 - Do you employ the 2 to 5 percent of a bankroll per play? Or do you have another system that you employ?

Thank you in advance ACE.

 

[MikeThom33]

Great advice Ace. Thanks. Wish I had started following it 15 years ago!!!

 

[EvanV]

Thanks for the afvice Ace-Ace. I was up a few hundred last night and thought I could win more, so I dropped so much on the Boston game and fucked myself over.. By end of night, was -2 units as opposed to be +4 or so.. Guess I will get better with age (only 18).

 

[ACE-ACE]

I concur with those that are touting the virtues of this thread. As Steve Crist of the Daily Racing Form has said "I've made up for poor selections with some good gambling." He's most likely not the first to say this but it rings just as true. A friend of mine has just lost about 10k in the past three weeks due to his philosophy of "doubling up" each lost bet - the logic being that he's bound to win one of them... sadly he didnt and he's done. We all have stories such as this that we may relate to ACE's thread I would assume.

A couple of questions for you ACE -

1 - I have, in my five years of wagering on football, been able to win approximately 58 to 63 percent of my plays. However, I was never wagering enough to make any "real" money as my economic situation would not permit it. That has changed the past two years in my favor. My question is what, in your opinion, do you feel is a somewhat serious number for a bankroll to begin with at the start of a given season? I realize that everyone's bankroll will be different based on economics... but if someone were to take handicapping seriously and was wanting to make not a salary but more than just "fun money" where do you feel that number would be? I may be being a bit vague here - if so, my apologies.

2 - Do you employ the 2 to 5 percent of a bankroll per play? Or do you have another system that you employ?

Thank you in advance ACE.

yes...the 2% is my under $1300 bets.......and the 5%......sometime 8%....is my over $2000 bets.....THE BOOK...ARE NOT GOING TO GET ANY MORE THAN I PUT ON THE TABLE....OUT OF THE LAST 10 YEARS I HAVE HAD 7 WINNIG YEARS 2 BAD YEARS.....AND ONE EVEN YEAR......

THIS IS LIKE PLAYING STOCK TO ME......I START WITH OVER 100K(HAVE THIS FOR THE LAST 5 YEARS PUT ASIDE).....IF I WIN MORE I PULL IT OUT....
THE TO BAD YEAR THEY GOT ME FOR 40K...AND 55K......THE YEARS I HAVE WON AVG 25K TO 50K........IF I DID THE MATH...I UP OVER 100K THE LAST 10 YEARS.......BUT SEE ITS NOT ABOUT THE MONEY WITH ME.......I HAVE MONEY....ITS THE LOVE OF THE NFL....MY SYSTEM......IF YOU LOOK BACK AT SOME OF MY POST OVER THE LAST 12 WEEKS......YOU WILL KNOW MY SYSTEM.......

A GOOD BANKROLL IS 10-20% OF WHAT YOU MAKE IN A YEAR FROM YOUR WORK......ITS LIKE PUTTING MONEY INTO STOCK....AND WATCHING IT GROW......
JUST KNOW YOU COULD LOSE IT TO....THE ? YOU HAVE TO ASK YOURSELF...IF YOU MAKE 100,000 A YEAR.....AND PUT UP $20,000 FOR YOUR BANKROLL WILL IT HURT YOU?.........

THIS IS MY HOBBY ....CAPPING FOOTBALL (PLUS COUNTING CARD IN BLACK JACK)........ITS NOT FOR EVERYONE......GOOD LUCK TO YOU...

 

[ACE-ACE]

Raising Your Bet Amount

A PLAYER IS A $100 PLAYER....HE TYPICALLY PLAYS HALF A DOZEN OR SO GAME A WEEK AND IS A DEDICATED CAPPER..

THE 1ST WEEK HE MADE 5 WAGER OF $110 TO WIN $100 AND GOES 4-1 FOR THE WEEK,HE HAS A PRFIT OF $290...A GREAT WEEK BY ANY STANDARD.HE NOW RAISES HIS PLAY TO $200.IN THE 2ND WEEK HE MAKES 6 BETS OF $220 TO WIN $200 AND GOES 2-4 FOR THE WEEK HE LOST $480....SO OVERALL HE LOST $190 GOING 6-5.....IF HE HAD SIMPLY PLAYED $110 ON ALL 11 GAMES HE WOULD HAVE MADE $50 IN PROFIT...

RAISING THE SIZE OF YOUR PLAY AFTER A SHORT WINNING PEROID WILL BENEFIT THE HOUSE GREATLY IF AND WHEN THING EVEN OUT.....

 

[Dr.Pepper]

A PLAYER IS A $100 PLAYER....HE TYPICALLY PLAYS HALF A DOZEN OR SO GAME A WEEK AND IS A DEDICATED CAPPER..

THE 1ST WEEK HE MADE 5 WAGER OF $110 TO WIN $100 AND GOES 4-1 FOR THE WEEK,HE HAS A PRFIT OF $290...A GREAT WEEK BY ANY STANDARD.HE NOW RAISES HIS PLAY TO $200.IN THE 2ND WEEK HE MAKES 6 BETS OF $220 TO WIN $200 AND GOES 2-4 FOR THE WEEK HE LOST $480....SO OVERALL HE LOST $190 GOING 6-5.....IF HE HAD SIMPLY PLAYED $110 ON ALL 11 GAMES HE WOULD HAVE MADE $50 IN PROFIT...

RAISING THE SIZE OF YOUR PLAY AFTER A SHORT WINNING PEROID WILL BENEFIT THE HOUSE GREATLY IF AND WHEN THING EVEN OUT.....

so very well put, thanks ace:digit:

 

[supersharp]

In my particular situation, reloading money into my books is spelled D-I-V-O-R-C-E. My philisophy is if I consitently win, then there's no reason to put more money in my books, and if I lose I have no business gambling. Why would a long term winning gambler ever lose his bankroll unless they are betting too high a percentage of their bankroll making them unable to weather a losing streak.

I play less than 1% of my bankroll. Also, I play the same amount for every game of a sport for a season. If you start out extremely well at the beginning of the season and then decide to bump up your unit size, then as ACE-ACE said you could theoretically have a winning record and lose money.

The reason I only bet 1% is psychological. I sincerely think that if you are betting an amount that is too high for your bankroll(say 5-10%) it will affect your judgement. 10 straight losses wipes out your bankroll if you bet 10% and depletes your bankroll by half at 5%. At 1% you've only lost a tenth of your bankroll.

Although I'm not killing the books, my bankroll is 37% greater than it was 2.5 years ago. For me it's strictly recreational. I don't do any real capping so I'm quite pleased with my results since as a family man I'm unwilling to really dedicate any time to capping. It's much easier to get on the RX forum, click on NFL, find the Exbookie thread and play everyone's favorite capper, ACE-ACE's picks.

:toast:

 

[ACE-ACE]

Supersharp

The Key Word Is "recreational"....to Many Player Want To Make A Living From It.....nice Write-up

 

[Magic32]

Many Thanks ACE... I have followed your system for the past 5 or 6 weeks and its apparent that you are a real sage. Your advice is truly appreciated.

Good luck to you sir and thanks again.

 

[ElIguana]

Supersharp, I have to disagree......you have a great point that players should not overload on any one game, but I think a capper has to put more $$ on stronger plays, especially when statistics, fundamentals, situations, or bad (off) lines support them.

 

[ACE-ACE]

chasing your losses

THE PLAYER HAS A BANKROW OF $1000....HE WAGERS 110 ON A GAME AND LOSE....SO HE WAGERS 121 ON A 2ND GAME AND LOSES AS WELL.HE IS NOE DOWN 231 AND IS FROSTRATED.THINGING HE CAN'T LOSE 3 IN A ROW,HE WAGER 254 TO WIN 231 AND LOSES YET AGAIN.HE HAS NOW LOST 485 AND EVEN A WIN WITH HIS REMANING BALANCE OF 515 WON'T SET HIM BACK TO EVEN BUT HE PUTS IT ALL IN PLAY ON ANOTHER GAME HOPING TO GET IT CLOSE...HE LOSES THE FOUTH GAME AND HAS BUSTED OUT....

LOSING STREAKS WILL HAPPEN TO EVERY PLAYER EVERY YEAR NO MATTER HOW GOOD THEY ARE AND PLAYERS THAT CHASE LOSSES WILL NOT LAST FOR LONG.............

 

[SportSavant]

-great advice on money management, I will try to find oldmanted's article on money management & post it here later....

-one thing I would like to comment on is the advice you gave in your thread last week in regards to betting the Bills or the other game's despite the point spread as "Only a very few percentage of games fall near the number".

This, IMO, is very poor advice, if you cannot get the best available line in a given situation, the thing to do is to walk away from the game... Not continue to bet into the number that has moved from -2.5 to -4.5 (as in the Bills last week).... I know, I know, the Bills covered last week you say, & the point spread didnt come into play right?? well, had it not been for an interception return for a touchdown in the final few minutes the Bills would have won by only three....

I also have some reservations, or questions about the percentage of games 'Where the points matter'... I would suggest that the figures that you offer are a little low.... An astute 'Line Shopper' will probably tell you that the number of games 'Where the points matter' is much higher than you suggest..... One example I can think of is when the BENGALS lost by 5 points due to a 'SAFETY' a few weeks back, giving the favorite in that Game a 'COVER'. Well the astute Line shopper actually had a WIN with CINCINATTI aswell.... I am sure you have this game in your statistics of "The line doesnt matter" but in fact it did to some.....

<?xml:namespace prefix = st1 ns = "urn:schemas-microsoft-comffice:smarttags" /><st1:City><st1lace>Pittsburgh</st1lace></st1:City> at <st1:City><st1lace>Cincinnati</st1lace></st1:City><?xml:namespace prefix = o ns = "urn:schemas-microsoft-comfficeffice" /><o></o>

<st1:City><st1lace>Cincinnati</st1lace></st1:City> +5.5 1.95 Win <o></o>

Bet Type Straight bet on above selection <o></o>

Bet Price 1.95 <o></o>

Bet Amount $157.00 <o></o>

Bet Payout $306.52 <o></o>

Time Placed November 21 <st1:time Hour="12" Minute="49">12:49</st1:time>