I’m trying to learn proper bankroll management..I already know how to find winning plays in football basketball and baseball..i might have a lump sum of money coming to me and I want to use some of it for my sports investing..i know that I should only invest 5 percent of my roll at a time..ex: if I have a 1000 roll then I should only put 50 at risk..if I have 4 plays what is the best way to divide up the 50 amoungst the 4 plays..Should I do it according to the juice on each play? Should I divide it evenly over the 4 plays? I’m trying to find whichever method consistently delivers a profit..
Actually it is suppose to be 5% at most. Big risk big reward. Little risk little reward. It is up to you to decide how to do things. Depends on your goal. IMO if you have money coming to you, build your bankroll with money management as building up a big bankroll quick isn't as important. But, it is your choice. When I start out with a small bankroll(a few hundred) I have always bet it all on a few games to build it up. But, if I have 1000 or more I am a little more conservative. I think the most successful guys are able to win bigger by picking individual games and stepping out more and not playing as many gtames. Not betting all or half, but more than you should. It is all choice. You have to do what works for you
You dont HAVE to play 5% (5units).
You can play 2% (2units) or 3% (3units) & 5% on plays you feel stronger about.
And you don't have to divide them.
Play them all separately.
Its up to you whether you play an even amount/units or add the juice.
For example:
3units: LA Rams -4.5 (-110)
You're betting $30 to win $27
If you want to win an even $30, then your wager would be:
3.30 units: LA Rams -4.5 (-110)
You're betting $33 to win $30
You can play 2% (2units) or 3% (3units) & 5% on plays you feel stronger about.
And you don't have to divide them.
Play them all separately.
Its up to you whether you play an even amount/units or add the juice.
For example:
3units: LA Rams -4.5 (-110)
You're betting $30 to win $27
If you want to win an even $30, then your wager would be:
3.30 units: LA Rams -4.5 (-110)
You're betting $33 to win $30
Bettingresource's money management is one of the best strategy that has been working for me for over 10 years. I am running 4 successful betting portfolios for my ivnestments using this money management (2 using their picks, 1 using my own picks and another for picks that i randomly tail people online) Here is the copy paste of their money management. Its actually lot simpler than it sounds once you get a hang of it. I recommend downloading their spreadsheet, then clearing all the log and using it with your picks because it will automatically set the amounts for you once you add your bankroll to the settings page of the sheet.
Below is the copy paste of the article from their site.
Money and Bankroll Management
There are many articles on the internet about money management systems and bankroll management strategies with different approaches, however, we recommend that you use our method while following our picks. We use a 1 to 10 unit staking plan with 10 units as the top rated full stake play. Using our picks with our 3% compounding strategy explained further below in this article will help you double your bankroll on average every 2.5 months. This means, if you start with a $2500 bankroll, you can expect your bankroll to reach $5000 with in 2.5 months and then to $10,000 with in 5 months. Now lets get on to discuss the money/ bankroll money management:
Choose a bankroll that you can afford. Once you have the starting bankroll, don't bet any more than 3% of your starting bankroll on a single bet -- this means, the max bet (10 unit bet) is no more than 3% of your bankroll. So each unit is 0.3% of the bankroll. Here is the table: 1unit=0.3%, 2unit=0.6%, 3unit=0.9%, 4unit=1.2%, 5unit=1.5%, 6unit=1.8%, 7unit=2.1%, 8unit=2.4%, 9unit=2.7% and 10unit=3%. Now that we release only the 10 unit picks, the rest of the scale does not matter--you will simply bet 3% of your bankroll on each pick.
Note 1: If your starting bankroll is small and if you want to be aggressive, you may temporarily set your max bet to 4 or 5% of your bankroll however, we highly do not recommend this long term. Contrarily, if your bankroll is very large and you want to be be very conservative, you can set your max bet to 2% of the bankroll or less.
Note 2: If you are following both regular and full-stake 10-unit picks, treat them as two different investment portfolios. This means using two bankrolls. To accomplish this, simply divide your bankroll into two in the ratio of 30-70. Use the larger portion to follow ONLY the full stake 10 unit picks. Use the smaller portion to follow ALL picks (both regular and full-stake picks.)
If you are an established bettor with a big betting capital, you would bet fixed or same amount on every unit (linear betting) regardless of the outcome of each bet. For example, if your starting bankroll is $150,000, then your 1 unit equals $450 and this is the unit size you will use on your bets regardless of how much you win/lose each day.
If you are a bettor with limited capital looking to grow the bankroll then we suggest you employ our conditional daily compounding method. This method will help you double your bankroll much faster. In this method you will re-invest winning everyday into the bankroll to form a new starting bankroll and bet size. If there is losing day(s), the bet size will remain the same as the previous bet size until the losses are recovered and the bankroll reaches a new high. In summary, each day the bankroll reaches a new high, it becomes the new starting bankroll and the bet size will be adjusted accordingly but if you have a losing day, continue with the same bet size until new high is reached. For example, if your starting bankroll is $30,000, then your max bet (10 unit bet) is 3% of 30k, $900. On day 1 if you win $1800, then your starting bankroll on day 2 is $31,800 and your max bet on day 2 is 3% of $31.8K, $954. If you have a losing day on day 2, then your bet size on day 3 will remain the same $954 and it will remain the same until you re-coup all the losses and the bankroll surpasses $31.8k and reaches a new high. You can continue this conditional compounding method until you reach your target bankroll or bet size but don't be greedy! With this compounding method and with our picks you can double your bankroll on average every 2.5 months. This means, if you start with a $2500 bankroll, you can expect your bankroll to reach $5000 with in 2.5 months and then to $10,000 with in 5 months. This spreadsheet will show our money management in action with our regular picks and how it rapidly grows the bankroll in a period of 6 months.
airattackers
I dont post here very often anymore for various reasons but I have in previous times spelled out the proper money management in indepth. Search the site and you will find it. It involves using a percentage of bankroll with an error on going more conservative in terms of the proper % of the bankroll to wager. It also when you have games going off at the same time for example noon on Sunday and you have 3 games that you are going to wager on the proper way is to reduce the wager amount and bet part of the amount in straight bets and the balance in the form of parlays. It will be mathematically perfect.....dont listen to any idiots that will tell you parlays are for suckers.....they dont understand the goal of proper money management and are mathematically challenged.
Good Luck
Northern Star
I dont post here very often anymore for various reasons but I have in previous times spelled out the proper money management in indepth. Search the site and you will find it. It involves using a percentage of bankroll with an error on going more conservative in terms of the proper % of the bankroll to wager. It also when you have games going off at the same time for example noon on Sunday and you have 3 games that you are going to wager on the proper way is to reduce the wager amount and bet part of the amount in straight bets and the balance in the form of parlays. It will be mathematically perfect.....dont listen to any idiots that will tell you parlays are for suckers.....they dont understand the goal of proper money management and are mathematically challenged.
Good Luck
Northern Star
airattackers, you should keep a record of your bets so you can see how your bets play out (1-0,1-1,2-1 etc). That should tell you what type of money management you can use. I know people who bet the NBA and get 2 to 3 bets a day. 20 units is enough to get them started (flat bet no increase). Others who bet NCAAB need more than 20 units because on Saturday they might have more than 20 plays and can't cover all the bets. As the saying goes crunch the numbers and see where they take you. Good Luck.
