Basic bankroll management techniques.

[KP78]

Hi folks,

I was wondering if someone could point me in the right direction in regard to information on bankroll management. (or simply answer if you are feeling generous)

Is there a standard practise for what percentage of your bankroll one unit should be?

At what stage should you increase your unit value? (basic example: when you double your bankroll, do you double your unit value etc)

I was just wondering what methods people employ when they are on an upward or downward swing, how much they consolidate prior to increasing bets, and any other general information people think would be helpful.

Thanks in advance gents,

Pat

 

[twarby]

read Sohos book

 

[KP78]

read Sohos book

That is not fair or funny! LOL

 

[soho]

if only there was enough paper in the world to document all my knowledge...

 

[The Royal Sampler]

I tend to ascribe to Sklansky's theories when it comes to bankroll management; ie. you can have all the management techniques in the world, you'll still go broke if you back selections where you're getting the worst of it. Money management is largely an overrated topic, but having said that you don't want to be putting your entire stake on each bet like soho does, it only takes one unexpected turn of events for you to bust out.

However there is a lot to be said for routinely betting 5% or less of your bankroll. Sometimes you'll find an event where the line is just plain wrong, in which case I think it's more than acceptable to exceed this limit.

Where "bankroll management" extends to recording all your bets, and keeping note of where you're winning or losing your money, I absolutely agree with keeping as detailed and as accurate a log of your punting as you can. Sometimes you can get an excellent return on a sport you may know little about, simply because the book is run at a lower percentage, or the lines are more often wrong. The converse can also be true, particularly if you're punting on a sport you like, and you have a bias towards or against certain teams.

 

[The_Falcon]

if only there was enough paper in the world to document all my knowledge...

hahaa i love this man only problem is he go's for the piess

 

[soho]

'its is the part of the wise man to keep himself today for tomorrow, and not to venture all his eggs in one basket' - minguel de cerantes saavedra

'put all your eggs in one basket, and watch that basket' - mark twain

a fully diversified portfolio will always under perform against the index

gambling long term in small amounts will always bleed via spread...

play to win, double up, average down... get rich or die trying...

 

[KardiniaPark]

'put all your eggs in one basket, and watch that basket get smashed by Americain' - mark twain

 

[jayjones1]

hahaa i love this man only problem is he go's for the piess

thats true