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Newbie here... best way for $$ management with online account

Thread Starter Newbie here... best way for $$ management with online account
Megmarcy33
Joined: 04/06/2013
Posts: 30
Prep School
Not Ranked

Just starting out, love sports betting and ponies

Like some Ideas on how to manage my account betting wise, any tips would be great

thanks

Wharton
Joined: 08/22/2014
Posts: 1088
Pro Draft Prospect
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Figure how much an edge you have and bet accordingly.  If you are new your edge is probably at the bare minimum hence that should be your wager size as you're starting out.

Lloyd Christmas
Joined: 07/22/2009
Posts: 5680
All Pro
Top 150 Contributor

Wharton

Figure how much an edge you have and bet accordingly.  If you are new your edge is probably at the bare minimum hence that should be your wager size as you're starting out.

Or far more likely, not there at all

You want a handicapping tip?  Spend as much time getting a good number as you do researching games. Depositing/withdrawing/depositing/withdrawing is a pain, but I guarantee you will lose less, or win more.  I can't guarantee that for any other piece of advice 

"There is no such thing as luck, just random fluctuations of probability"

lrcredneck85
Joined: 12/05/2012
Posts: 7202
All Pro
Top 75 Contributor

first determine your true bankroll, your bankroll in play, and your goals (ie winning % versus avg juice you will lay)  and keep in mind, your goal does not have to reflect a positive number.  just a good modest estimate of where you think you will land.  

Divide those numbers in half and use 2% of your bankroll in play as your unit size, adjust that 2% by your winning percent at the end of each week, and keep your true bankroll (replenishment funding) at absolute minimum

Wharton
Joined: 08/22/2014
Posts: 1088
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Lloyd Christmas
Or far more likely, not there at all

True but not betting anything is no good.  Cant win if you don't get in the game even with a little something.

Megmarcy33
Joined: 04/06/2013
Posts: 30
Prep School
Not Ranked

thanks guys, I will start slow, not a quick rich scheme, just entertainment with a chance of $$$

Eric Cogdell
Joined: 11/25/2009
Posts: 3296
All Pro
Top 200 Contributor

search for Greg Shakers thread on money management in the archives. Everything you need to know is there. BOL on your new journey bud.

Wharton
Joined: 08/22/2014
Posts: 1088
Pro Draft Prospect
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Megmarcy33
not a quick rich scheme, just entertainment with a chance of $$$

Perfect way to look at it, good luck.

thebill99
Joined: 08/11/2014
Posts: 500
All American
Not Ranked

Yes, you have to be in action.  The old saying is true with me. " The best thing is to bet and win and the next best thing is to bet and lose"  

SportWinsLossesTiesWin %$ Won
CFB4330358.90995.00
NFL6457252.89-144.00
Lloyd Christmas
Joined: 07/22/2009
Posts: 5680
All Pro
Top 150 Contributor

Wharton

Lloyd Christmas
Or far more likely, not there at all

True but not betting anything is no good.  Cant win if you don't get in the game even with a little something.

I wasn't saying he shouldn't bet anything.  I was just disputing your claim that he likely has any edge, even a small one.  Nothing wrong with betting recreationally as long as you understand you're not in it to win long term. 

You want a handicapping tip?  Spend as much time getting a good number as you do researching games. Depositing/withdrawing/depositing/withdrawing is a pain, but I guarantee you will lose less, or win more.  I can't guarantee that for any other piece of advice 

"There is no such thing as luck, just random fluctuations of probability"

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