If you bet 5% of your bankroll on each play, is there a maxiumum % of your bankroll you shouldn't be betting over in a single day?
For example; Saturday you like 10 NCAAF games. You have 50% of your bankroll in games that day. Is that too high of a %? Is there a number you should try to remain under in any given day?
Thanks and Good Luck!
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Hey Guys
If you bet 5% of your bankroll on each play, is there a maxiumum % of your bankroll you shouldn't be betting over in a single day?
For example; Saturday you like 10 NCAAF games. You have 50% of your bankroll in games that day. Is that too high of a %? Is there a number you should try to remain under in any given day?
What is your personal risk aversion? If you lose 50% of your bankroll in a single day, can you reload?
You are better off risking less (say 1-2% per play). This way you won't be risking a large percentage of your bankroll at any one time, and you will not be limiting the amount of plays that you feel you can make money on.
As far as changing the size of your bets, take a look at some Covers alleged 'experts'. I recently looked at one of their "last 10" results:
7-3 up 1.85 units....that is ridiculous. He should have been up over 3 units, but by betting a 1-10 star system (absolutely idiotic btw) he hadn't cleared 2 units going 70%!!!
I am not however saying that you should not increase or decrease the size of your bets depending upon expected value. What I am saying is that if you're prediction gives you a 60% EV on Team A, and a 55% EV on Team C, it would be inane to bet Team A at 10 units, and Team C at 5 units. Your EV is only 5% different!!!
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It depends on several factors.
What is your personal risk aversion? If you lose 50% of your bankroll in a single day, can you reload?
You are better off risking less (say 1-2% per play). This way you won't be risking a large percentage of your bankroll at any one time, and you will not be limiting the amount of plays that you feel you can make money on.
As far as changing the size of your bets, take a look at some Covers alleged 'experts'. I recently looked at one of their "last 10" results:
7-3 up 1.85 units....that is ridiculous. He should have been up over 3 units, but by betting a 1-10 star system (absolutely idiotic btw) he hadn't cleared 2 units going 70%!!!
I am not however saying that you should not increase or decrease the size of your bets depending upon expected value. What I am saying is that if you're prediction gives you a 60% EV on Team A, and a 55% EV on Team C, it would be inane to bet Team A at 10 units, and Team C at 5 units. Your EV is only 5% different!!!
Jack is right on. Betting 50% of your BR in one day is considered a "Hail Mary" betting management method and will result in you going broke fairly quickly unless you have the ability as Jack says,to reload. The smaller the % of your BR you wager, assuming you are a decent handicapper, the greater the chance you have of doubling your Bank rather than going broke. Of course the down side is that it takes longer to make the double. You have to objectively determine your risk-tolerance and goals to come up with a wager % that is right for you. GL
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Jack is right on. Betting 50% of your BR in one day is considered a "Hail Mary" betting management method and will result in you going broke fairly quickly unless you have the ability as Jack says,to reload. The smaller the % of your BR you wager, assuming you are a decent handicapper, the greater the chance you have of doubling your Bank rather than going broke. Of course the down side is that it takes longer to make the double. You have to objectively determine your risk-tolerance and goals to come up with a wager % that is right for you. GL
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