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money management question for baseball...

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Posted: #1
i play 2% of my bankroll for a unit in baseball. i'm in it for the long haul so i'm willing to be patient does this seem like an acceptable amount of % of my bankroll to spend??
 
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Posted: #2
yes
 
How much of your bankroll do you normally lay out
 
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Posted: #3
I don't bet online anymore but i usually don't lay more than 10% of my bankroll on any gae no matter how much i like it. Baseball is a game witha lot of swings so that will help you stay level.good luck bud
 
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Posted: #4
$5000 bankroll so i usually play $100 a game not big amount but it will grow if i'm patient also i only play about 2-3 games at best a day..
 
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Posted: #5
Your good then
 
Thats perfect in my book
 
I'm using a sytem now and today it has got me at 9 units, which is around10% of my bank roll for baseball.  I'm not happy about that, but I'm gonna see what happens.
 
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Posted: #6
Quote Originally Posted by jakelv:

$5000 bankroll so i usually play $100 a game not big amount but it will grow if i'm patient also i only play about 2-3 games at best a day..

 

2-3 games a day ??? That's way too many games.

The secret to making money in sports betting is by maintaining the highest winning percentage possible and reducing exposure to risk.

I will take a 2-0 weekly record over a 6-2 anytime. A 2-0 record can allow you to use agressive money management strategies while a 6-2 does not.

 

 
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Posted: #7
2-3 games a day is not to many
 
 
What you stated is not a secret, also your winning % real doesn't matter either..  Tell some one who plays dogs that....
 
 
I know what your saying and it is smart, but everyone goes about it differently. It is all about were you end up at end.
Of course you need to manage and by him playing 3 games a day is manageable for his bankroll.
 
Remember some people do this as an hobby more less and as long as their responsible it could pay dividends
 
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Posted: #8
One game a day between 5-10% of bank IMO.  It's a long baseball season, then football and then etc.  There's no joy in rebuilding a bank after a large loss; take your time, not your bank.  Easier said than done, but most things are anyway so take your wins with a smile, your losses with a grin then move on by clearing your mind of that last win or lose for the next bet.  Good Luck
 
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Posted: #9
Quote Originally Posted by JGROMACK:

2-3 games a day is not to many
 
 
What you stated is not a secret, also your winning % real doesn't matter either..  Tell some one who plays dogs that....
 
 
I know what your saying and it is smart, but everyone goes about it differently. It is all about were you end up at end.
Of course you need to manage and by him playing 3 games a day is manageable for his bankroll.
 
Remember some people do this as an hobby more less and as long as their responsible it could pay dividends

 

Have you heard of the Kelly criterion ? It is the holy grail of money management in sports betting. Every professional bettor uses it and it highlights the importance of a winning percentage.

To make a long story short, the winning percentage is not everything. It is the only thing. Professional bettors in Vegas who make a living out of betting and do a heck of a job at it don't play more than 3 to 5 games per week and even that is a bit much because they want to maintain that percentage.

If you want the formula, I'd be happy to pass it on to you.

 

 
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Posted: #10
Quote Originally Posted by Nabil:

 

Have you heard of the Kelly criterion ? It is the holy grail of money management in sports betting. Every professional bettor uses it and it highlights the importance of a winning percentage.

To make a long story short, the winning percentage is not everything. It is the only thing. Professional bettors in Vegas who make a living out of betting and do a heck of a job at it don't play more than 3 to 5 games per week and even that is a bit much because they want to maintain that percentage.

If you want the formula, I'd be happy to pass it on to you.

 

I'm interested in kelly criterion...could you explain?

 
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Posted: #11
king08 ! Since you are showing interest in the Kelly criterion, I am going to discuss it in a separate thread. It is a very important formula and I am sure others could benefit from it.
 
The message will be posted within the hour.
 
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Posted: #12
The kelly creation is not a fail safe way of betting, I have went over this with other people.
 
Their are articles that have proven it bad for wagering, and if I recall correctly they have to do with your so called winning %
 
 
 
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Posted: #13
kelly crit is wagering a % of bankroll based bankroll size and % of divdends paid...  thus sports betting usually has a -5% expected value meaning it should NOT be used by sports bettors but some do anyway

play as many games as you want... tell me how many professional blackjack players could live off playing 2-3 hands a week?? and that has better odds (for the most part) than sports betting
 
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Posted: #14

Blackjack and sports betting ? No comparison whatsoever. Not even by a long shot.

You can study a game ahead of time and find out whether the game offers you a statistical edge you can exploit to make a profit.

How can you possibly do that in blackjack ?

 

 
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Posted: #15
Quote Originally Posted by JGROMACK:

The kelly creation is not a fail safe way of betting, I have went over this with other people.
 
Their are articles that have proven it bad for wagering, and if I recall correctly they have to do with your so called winning %
 
 

 

The Kelly criterion is bad for wagering ??? LOL

Forgive me but I couldn't help myself but laugh loudly. No offense.

Young man ! The Kelly criterion is the reason why I quit my job 8 years ago and lived exclusively from sports betting since then. Never regretted it and never looked back.

My dream is to meet the man who invented the formula so that I can thank him in person.

 
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Posted: #16
Quote Originally Posted by Nabil:

2-3 games a day ??? That's way too many games.

The secret to making money in sports betting is by maintaining the highest winning percentage possible and reducing exposure to risk.

I will take a 2-0 weekly record over a 6-2 anytime. A 2-0 record can allow you to use agressive money management strategies while a 6-2 does not.

Sorry to say, but I disagree with everything you've said. Who cares what your winning % is? I don't, all I care about is making some scratch.

Betting 2-3 games a day is probably not enough. You have to chuck money through the windows. If you think you have an edge, go ahead and bet it is my philosophy. Some days I might have 10 plays, other days zero.

If you would rather go 2-0 than 6-2, aren't you winning half as much?

Nobody knows how much of an edge they have on any bet, no matter how good it looks, so I'm not a fan of the Kelly Critereon either.

 
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Posted: #17
Quote Originally Posted by PokerBroker:

Sorry to say, but I disagree with everything you've said. Who cares what your winning % is? I don't, all I care about is making some scratch.

Betting 2-3 games a day is probably not enough. You have to chuck money through the windows. If you think you have an edge, go ahead and bet it is my philosophy. Some days I might have 10 plays, other days zero.

If you would rather go 2-0 than 6-2, aren't you winning half as much?

Nobody knows how much of an edge they have on any bet, no matter how good it looks, so I'm not a fan of the Kelly Critereon either.

 

Yes, I would be winning as much if all my bets were the same.

This is not what the Kelly criterion is about. This beauty tells you what percentage of your bankroll you should invest on a bet to MAXIMIZE your profits.

A 2-0 record is equivalent to 100% while a 6-2 is equivalent to 75% winning percentage. Using the Kelly criterion, you will see how you can make your bankroll explode with a 2-0 record and not with a 6-2 record.

 
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Posted: #18
The man is dead old man
 
I guarantee I could do a little research to prove it's failure.
 
I'm sure it does work for some, but for you to say thats what all the big's use. I got a chuckle out of that.
 
The system has risk and I do know a few people at my so called young age who have explained  to me.
 
There is a chance that what your doing is varied from the KC.
 
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Posted: #19
Why do you keep on saying 2-0
 
 
Lets go long term.
 
Prove it to me
You are putting more money down on something that has a best chance of winning right?
 
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Posted: #20
Quote Originally Posted by JGROMACK:

The man is dead old man
 
I guarantee I could do a little research to prove it's failure.
 
I'm sure it does work for some, but for you to say thats what all the big's use. I got a chuckle out of that.
 
The system has risk and I do know a few people at my so called young age who have explained  to me.
 
There is a chance that what your doing is varied from the KC.

 

No need to do the research. I have already done it using my credentials as a PhD in statistical mathematics from one of the finest schools in the world.

To question the validity of the Kelly criterion is absurd. Pros who are reading your comments can only giggle at your obvious lack of knowledge in the area.

Learn from those who know better and are more experienced than you. Wisdom will make you a winner. Silly pride will not.

 

 
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Posted: #21
Oh my shattered nerves....
 
I will be following this system closely
 
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Posted: #22
I love how your college has a name.
 
You make your bets, the kelly creation tells you what that wager is worth.
 
This is good how?
 
Human error, did they team you that in acme school of mathematics
 
 
 
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Posted: #23
Bet no more than 25% of your account balance per game and another betting philosophy is after one week add up all your winnings and multiply it by 10% and add that to your normal wager starting the next week... 
 
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Posted: #24
Quote Originally Posted by Nabil:

 

2-3 games a day ??? That's way too many games.

The secret to making money in sports betting is by maintaining the highest winning percentage possible and reducing exposure to risk.

I will take a 2-0 weekly record over a 6-2 anytime. A 2-0 record can allow you to use agressive money management strategies while a 6-2 does not.

 



2-3 games too many? I swear we will never run out of idiots here at Covers. 2-3 games is too many only if your capping is lacking. Almost every game on the board presents value because the books are always looking to lure in suckers. I bet anywhere up to 12 games a day and I clean house.

2-0 a week? Do you post plays? So you consistently nail 2-0 weeks.

2-0 over 6-2? What the highest level of math you got to? No matter how you slice it, you make more money with a 6-2 record than a 2-0 record. Did you eat a douche sandwich for breakfast?

As for minimizing risk, what you are doing is maximizing risk. A large percent of your bankroll on a few number of plays is asking for trouble. If you have a good success rate and can play a good number of games, you are diversifying your risk and thus minimizing it.

I can't believe the stupidity around here sometimes.
 
 
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Posted: #25
A 2-0 record is equivalent to 100% while a 6-2 is equivalent to 75% winning percentage. Using the Kelly criterion, you will see how you can make your bankroll explode with a 2-0 record and not with a 6-2 record.

Are you could bet the same amount on your 6-2 slate and make even more. Moron.
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