Optimal money management strategy?

Question

Started off with $500, ran it to $5000 and blew it all.

Deposited $1000, ran it to $4200, lost it all the way down to $50 and hit 2 team parlay for $120, took the $170 and hit 3 team parlay...I'm at $1141 right now in my account but I've never practiced good money management. With the bankroll I have how many plays should I play in a day? I'm a very streaky bettor. 15% max of the bankroll in play at one time? 3-5% per play? I want to do it the right way so I don't have to deposit again.

I'd love to hear some thoughts on this as I've read so many different things. Thanks

markp851 · Answer

Started off with $500, ran it to $5000 and blew it all.

Deposited $1000, ran it to $4200, lost it all the way down to $50 and hit 2 team parlay for $120, took the $170 and hit 3 team parlay...I'm at $1141 right now in my account but I've never practiced good money management. With the bankroll I have how many plays should I play in a day? I'm a very streaky bettor. 15% max of the bankroll in play at one time? 3-5% per play? I want to do it the right way so I don't have to deposit again.

I'd love to hear some thoughts on this as I've read so many different things. Thanks

GhostNL · Answer

First of start explaining how you got it from 500 to 5000

cheez4 · Answer

Sorry about you luck..  Parlay bets are the devil and can drain you in no time unless you are chasing and that too has a lot of risk.

Bart_ · Answer

how do you make your picks:Do you follow someone? Cap your own games? Follow a system? Chase?

markp851 · Answer

insane run of wins once I hit like $1500 betting $100 a game...then bumped them to like $300 each and went 9-1 at once point

markp851 · Answer

yea i keep them to a small amount if I play them at all

markp851 · Answer

I follow some people and some times I do my own capping...I&#x27;m not much  of a system guy. I try not to chase losses but sometimes do. I&#x27;ve realzed I can grind out small winners more consistently then when I hammer away.  When I have losing days they&#x27;re real bad bc I chase.

cheez4 · Answer

Stick to what your good at! and practice good money management. I would never bet more then 1% of my bankroll on straight betting if you bet on a lot of games per week. $1500 bankroll with $100 bets is way to much IMO. You only have 15 bets to start. Bring that down to 1%-2% ($15-$30 per bet) Now you have 50-100 bets. Betting 1% of your bankroll till you have increased your bank 25% ($375) and recalculate that 1% ($18.75 will be your new 1%) and stay there til you have reached $2343. I know your not gonna get rich off this but you shouldn't go broke either overtime your bankroll will increase and so will you bets and you will have a better ROI then going broke an making another deposit every week.

Bart_ · Answer

Agreed. 1-2% per bet. That&#x27;s it.

bruin95 · Answer

[Quote: Originally Posted by Bart_] &#xD;&#xA;&#xD;&#xA;Agreed. 1-2% per bet. That&#x27;s it. &#xD;&#xA;[/Quote]&#xD;&#xA;Agree 100%, but not only that, set a profit level.  If you reach it, take that money to the bank and start over again at your original bankroll.  There&#x27;s absolutely no sense in turning a $500 bankroll into $5000, and then having nothing to show for it.

terrybet100 · Answer

as it was said before, the right bankroll management is about 1% per bet and it refers to all the casino games imo. The only exception could be a cash game NL Hold&#x27;em poker. I heard 20-25 buy-ins is enough there.

Jayvegas420 · Answer

So if you have 4 losing poker sessions in a row, you&#x27;re done?

Optimal money management strategy?

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