Money management

Keeping in mind  that any bet posted is presumed one unit  unless otherwise stated.   

So for the skilled, winning handicapper,  a one bet means ONE UNIT,  which is 2-3% of his entire bankroll.  Simple, sound reasoning. 

But what if the skilled handicapper chooses to bet 10 games that day?  Is it still 2-3% of entire bankroll on each of those 10 bets?  The overwhelming consensus across the web, including numerous articles, and even forum members here, including @wolfeman3  is  yes, 2-3% on each and every bet (if he truly is a skilled handicapper, not some "paper tiger" pretender, phony fake bettor)

** So 10 bets (at one unit each) would mean 20-30% of his entire bankroll is at stake, or likewise any single bet which he designates as "10 units" also means 20-30% of his entire bankroll is at stake. Which is fine for the winning handicapper.

Skilled handicappers often do this without fear because the experienced handicapper is confident his odds of losing are LOWER than public average. Effective strategy!

When a truly skilled handicapper (one who is not a "paper tiger" pretender, phony fake bettor) claims to bet   one unit  on a lone bet, he is staking at least  2-3% on that one unit bet.   (Beginners would only risk 1% or at most 2% because they are not as skilled and tend to lose more than win over time, like estimated 95% of all bettors. Most of us fall in this category, me included)  

 It follows logically, that if the allegedly skilled handicapper bets either multiple games, or multiple units, he is in effect staking a much higher percentage of his total bankroll.  This is mathematically logical. 10 bets worth one unit means he is staking 20-30% of his entire bankroll.  Or one bet of 10 units is the exact same stake!

But something now becomes obvious to any reasonable, rational, logical person.  Clearly there is a limit reached before one is staking his entire bankroll.

The average bettor (small potatoes of just 1-2% bankroll each unit bet) could have as many as 50 to a max of 100 units staked before he maxes out his bankroll.

Whereas logically, the truly skilled handicapper (one who is not a pretender) who can afford to bet more aggressively _ and should! _ because his skills mean LESS RISK OF LOSING, betting 2-3% on every UNIT,  would necessarily be limited to at most 50 units being put in play (2% each because he is so skilled!) at any one time.  At least in REAL betting that is the reality among the experienced, skilled handicappers.   

I dont know if I am following what you are trying to get at....

But people put random irrational time boundaries around things.  Why does it matter if you find 50 plays a day that you have identified as your edge?  You bet them.  If you find no edges for a week, and on day 8 you find 50 - whats the problem?  People that say things like "1 play a day max" are confused about what edge betting is all about.

If I missed the point and you can clarify in simple terms - please do.

Exactly, the time frame upon said edge bet is placed is irrelevant. It doesn't matter if the person unloads 30% of their bankroll in a day, as long as those edge bets fall within the criteria +EV. You always capitalize on anything +EV.

To leave those plays out because too high of a percentage of the bankroll is at risk on any particular day would be +EV.

GTFOH you have tried this BS in the past and you got BOXED for your BS.  Clearly nobody cares about your 137 page thread where you talk to yourself through all your alias's, as evidence by the non-existent response you get here in the Mains.  NOBODY cares about laying $5 juice on 10 different plays week in and week out.  Please just stop. 

Here, let me remind you how it went last time....

https://www.covers.com/forum/nfl-betting-21/wild-wild-wildcard-weekend-103706783/11#post-130828166

It is so funny how some people dont realize that Zircon, Fubah, KellyM, Zeus4par....  And I am sure others - are all the same person here.

That epic Fubah bet or not to bet thread is like a textbook example of multiple personality disorder.  It is really incredible.

2 ways to go at it...#1Moneymanagement and BR% and GRIND away like Kanish on Rounders....or #2push when u are hot or are feeling it like when u are on a Black jack table and on a heater and pull back and reduce bets when u go ice cold or losing and take a break if necessary.. big if though and very hard to do and avoid the chase...I prefer option 2 and that's the way I bet...

@vanzack

 "incredible" and "sad"  

This guy created multiple accounts and talks to himself in his threads? 

lolwat

Just basic money management as it pertains to size of betting  for the beginners (or unskilled bettors)  and to those who are experienced and skilled at betting (above average, winners)

Go check out the Fubah thread.  It is really something.

No.  The guy did not.  I am one guy only/

It is a false accusation because some conspiracy theorists see similarities in posting styles and make assumptions based on their hatred.

One conspiracy theorist  in particular who was BOXED twice in recent months.

@zircon

First you have to define bankroll.

A lot of people dont have a defined bankroll.  What is a bankroll?  How long should a bankroll last? (a season)?

I think you are working under a fallacy that the "unskilled" bettor has a defined bankroll.  Most rec bettors have a certain amount of money in the bank today, and make a wager that will provide them excitement that they can afford to pay if they lose.  That changes next week - and the week after.

I dont have a defined bankroll.  I have enough money that I can bet unit sizes that make sense for me, without ever defining a bankroll.  Once I lost enough to make me uncomfortable, I would re-evaluate.

So while talking about bankrolls as a relevant concept is trendy and sophisticated - I would estimate that most gamblers for whatever reason dont even have one.  They might have a unit size, but measuring that unit size in relation to some imaginary number that they consider their bankroll just isnt reality in my experience.

Yes, of course that is true. 

But that is not the point being made about money management bet sizing for beginners and for skilled bettors.

1-2% for beginners

2-3% for skilled bettors

Huge consensus across several forum and numerous web articles on the subject, including ESPN, the NY POST, and our own Covers.com

@zircon

1-2% OF WHAT????

I think you are working under the illusion that the average bettor defines a bankroll, and if they do that they dont immediately replace it once it is lost.

You think the average sports bettor is stopping in week 7 of the NFL season because he lost the amount he said in week 1 was his limit?  Please.

@JimmyGape

All you need to know as it relates to this thread.... 
 

https://www.covers.com/forum/nfl-betting-21/wild-wild-wildcard-weekend-103706783/11#post-130828166

@zircon

This is all mental masturbation. 

There is no "consensus".  You cant define "bankroll".  It is clear you dont understand the rec gambler mentality.

It is like trying to compare how a moose should type on a keyboard vs a human should type on a keyboard.  Moose dont type.  Rec gamblers dont have bankrolls.

It is is not me that has to define YOUR bankroll or anyone elses but my own.

For the vast majority it is the amount that individual is prepared to risk AND LOSE IT ALL.

So, if he has for ex  $1,000 in one online acct and another $1,000 in a second online acct and that is all he is prepared to risk on sports gambling, then his total bankroll is $4,000.

All sources I reviewed, the vast consensus keeps indicating the same thing, that a  beginner (or even an average bettor who struggles to break even most times) is highly recommended to keep his bets within the 1 to 2% of total bankroll.   I agree with that, but that is the consensus of all recommendations.

Meanwhile a skilled bettor above average (in my previously posted example, 55% consistent winner), with lower risk of losing,  would bet a higher percentage of his bankroll, typically in the 2-3% range but often higher when there arises high confidence picks.

I figured fubah and kelly m were the same person. wonder how many there are?  Love it when someone questions laying -500 or more then all the alias's gang up on them.  Nothing like laying  multiple units on -400 losing, then still being ahead for the day.

@zircon

OK great.  I think you answered the question.  You were looking for bias confirmation since the original post.  

We can close the thread now that you have the answer you wanted all along.

GL Fubah.

No, I am going by the agreed consensus HERE on sesveral Covers sub-forums, and another sportsgambling website forum, and 24 online articles I found about MM, all saying what I am rep[orting here.  It's like I am the messenger of what is widely accepted and stated. 

Each person defines their own bankroll for themselves.  Most seem to put a limit on what they are willing to risk and no more. That is their bankroll to them.  I don't really care what they do.   I have my own.  They are all different.

But whatever it is the recommendation from experienced people is after they defin what they are maximum willing to risk and possibly lose (bankroll) then they proceed on the recommend 1-2% of that for beginners and 2-3% of that for skilled handicappers.

And no we are not all the same person.  Get the mods to check it out!  

@zircon

You win.  You have stated the same thing over and over at least 5 times so far.

Can't speak for those two as I don't know them. 

As for laying -400 with multiple units and losing, that would suck.  But if he also bets multiple units on -400 and wins multiple games like that then logically the bettor would be ahead.  The math is simple enough.

Thanks and GL to you kcblitzkrieg(vanzack)

Thanks vanzack(kcblitzkrieg)

Glad I could assist the lurkers and other newbies too.