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How good is your money mangement?

Discussion in 'Sports Talk' started by coloradobuff, Nov 1, 2009.

    Nov 1, 2009
  1. coloradobuff

    coloradobuff Experienced Member

    Occupation:
    Sports Writer
    Location:
    Denver, Colorado
    I have a couple questions for ya'll about money mangagement.

    1) Is there a certain amount of days you stay away from betting after you hit a cold streak? For me, I usually take a few days off when I lose 3-4 in a row. I dont want to get in the habit of chasing and a few days away from betting can be a good thing. It shows discipline.

    2) I have been doing well in 2nd halfs in college football. When you are winning consistenly at a sport, how long do you wait before you increase your units?

    I appreciate any input here. Thanks
     
  2. Nov 1, 2009
  3. 4 of a kind

    4 of a kind Repeated violations of forum rule 1.16 - troll

    Occupation:
    Trans. Tech
    Location:
    New York

    DELETED
     
  4. Dec 15, 2009
  5. Bullajami

    Bullajami Dormant account webmeister

    Occupation:
    Enjoying It!
    Location:
    Online
    If you are sure that taking a few days off following a cold run helps prevent you from making bad bets, then it is a GREAT money management tool. Something too few sports bettors have.

    I use the following criteria for managing my sports betting bankroll:
    • Minimize risk of ruin (bankruptcy)
    • Maximize returns

    Stake size is determined from the above, not based on my current run - good or bad. But since I bet in percentage of bankroll, there is some influence, of course.

    Whether or not I commit a stake to a bet has nothing to do with previous results or current bankroll size. I have wholly different criteria for that. Although I do cap the total percentage of my bankroll I will have at risk at any one time - which may influence me to not make a bet I otherwise might.

    :)
     
    Last edited: Dec 15, 2009

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