The Money Management Thread

[The Royal Sampler]

Getting this side of punting right is really where I'm going to make the biggest difference, and I'd really appreciate the advice of those who've been doing it successfully mid-to-long term.

A few questions;

a) what percentages of your bankroll are you betting at maximum?
b) what sites do you use, and how did you decide upon these sites as opposed to others?
c) if you bet online, what method do you use to fund your accounts?
d) do you use e-wallets such as moneybookers, click2pay, netteller etc.? Which, and why?
e) do you chase bonuses etc. at various sites, and if so, which bonuses do you feel are worth your time?
f) how do you track your progress/successes/failures etc.?

I might think of others later, but these are the main ones on my mind at present. Thanks in advance!

 

[Dutchy10]

Some good questions there that you need to get a handle on if you want to be successful, my answers below in blue


a) what percentages of your bankroll are you betting at maximum?
Anything up to 5% but never more, you will go thru ups and downs, you need to make sure you dont do too much damage in the downs
b) what sites do you use, and how did you decide upon these sites as opposed to others?
Got them all as they are all different e.g.
Betfair - Great prices
IAS - Great for US Sports
Centrebet - Heap of betting options
Sportsbet - Cover different leagues, and their promotions are the best in the business
Sportingbet - good for Quaddies and some promotions
Luxbet - good for half time betting in Basketball
Sportsalive - Spread betting
Good to have them all for options and getting the best price/line available
c) if you bet online, what method do you use to fund your accounts?
d) do you use e-wallets such as moneybookers, click2pay, netteller etc.? Which, and why?
Use Credit Card, Poli, Moneybookers and Neteller - all are good, Neteller I have in GBP for Europe bookies this saves on conversion fees/costs
e) do you chase bonuses etc. at various sites, and if so, which bonuses do you feel are worth your time?
Yes, easy bank roll builder, in the past 12 months Ive made over $10k from this alone, some UK Bookie bonuses are worth $400 each
f) how do you track your progress/successes/failures etc.?
Spreadsheet and studying your losses to see what you did wrong and what you can improve on

 

[The Royal Sampler]

Thanks mate, very informative.

I'm having problems because my accounts are in $US, mostly to keep consistency with my existing poker accounts. I'm getting smashed in currency conversions when depositing/withdrawing to moneybookers (which doesn't let you change preferred currency) or credit card, and click2pay (which is fantastic) is accepted by Centrebet but not IASbet or Betfair. I might have to look further into Neteller, for which I have a dormant account.

The descriptions you've given for the strengths of the different bookmaking sites are fantastic, thanks.

 

[Oaksnaf]

Getting this side of punting right is really where I'm going to make the biggest difference, and I'd really appreciate the advice of those who've been doing it successfully mid-to-long term.

A few questions;

a) what percentages of your bankroll are you betting at maximum?
Depends how you handle punting within yourself. Are you more likely to use a greater % than normal because it is available in your bank? If that is you. Then ONLY deposit a certain amount in your bank, so that you can control your spendings.

Really a BANK, just means that you have money to punt with. Having a bank isn't the answer to winning. Betting well within your limits and controlling the amount on each selection is more important than trying to believe that a BANK will solve all the problems you have short-time (IE having money to bet with).

Learn to punt within yourself. Well before you get a BANK.
b) what sites do you use, and how did you decide upon these sites as opposed to others?
For me. It comes down to the bet type and the pool size.
c) if you bet online, what method do you use to fund your accounts?

d) do you use e-wallets such as moneybookers, click2pay, netteller etc.? Which, and why?
e) do you chase bonuses etc. at various sites, and if so, which bonuses do you feel are worth your time?
All free bets are welcomed. Would you sneeze at them?
f) how do you track your progress/successes/failures etc.?
This is the part that needs to be carefully looked at.

Are you betting sports, horses or both?

I use microsoft excel. Break it down to each code, each sport. Log each and every bet. Record your own personal stats at tracks, venues, days. Keep track of your S/R for 1st, 2nd, 3rd, 4th selection. Place S/R. Quinella S/R and return, Trifecta's, First 4's and Quaddies.

Write everything down if your at the TAB having a punt. Keep track of what your spending each week, and what on. And whether any of it is coming back.

Use results as a personal diary. Put notes next to each day as to whether you were able to follow your game plan, or whether you failed and blew an extra few bets.

Best to keep track of how you handle the punt first.
I might think of others later, but these are the main ones on my mind at present. Thanks in advance!

My thoughts are obviously in red. Sometimes its hard to keep track of yourself. But in the end. The hours of collating results, helps, a lot.

 

[Subaru Impreza]

a) what percentages of your bankroll are you betting at maximum?
I am betting about 80% of my bankroll. When you say this I have outright bets locked in for 2-3 months.

b) what sites do you use, and how did you decide upon these sites as opposed to others?

Betfair-where most of the money is, Sportingbet- good for novelty bets, TAB- sometimes odds on TAB are better than everyone else, Centrebet-more choices, Ladbrokes- good for soccer, Bet365- wide choices, Betdaq(another exchange)- its good having 2 exchanges in that you can bet in-play. pinnacle sports- offer the best margins going around, Betezy- offer odds better than TAB by 1 cent, Luxbet- wide choices
c) if you bet online, what method do you use to fund your accounts?
Bank transfer, Poli, credit card
d) do you use e-wallets such as moneybookers, click2pay, netteller etc.? Which, and why?
ive used moneybookers once- but usually there are fees associated for depositing so i try to stay away from them
e) do you chase bonuses etc. at various sites, and if so, which bonuses do you feel are worth your time?
yeah every site has their promos
f) how do you track your progress/successes/failures etc.?
i track my profit and loss for the past 3 months- 1 year etc

 

[Daytripper]

a) what percentages of your bankroll are you betting at maximum?Probably 1% at a maximum but will go higher depending on my confidence.
b) what sites do you use, and how did you decide upon these sites as opposed to others?IAS - seldom use any more - their odds are rubbish
FlemSportsBet - great value with AFL and NRL. One of the few operations that back their opinion.
Centrebet - like to use them for gallops multis as you get best of all totes dividend.
Sportsbet - odds are generally unders however their CountryBest midweek is the best going around.
Sportingbet - the most competitive gallops corporate in Australia
Luxbet - not far behind Sportingbet.
Betfair - Value has diminsished of recent times but if you want to back an outsider on the gallops this is the place to go. Great for golf and tennis.
TAB - Quaddies only.
c) if you bet online, what method do you use to fund your accounts?
POLI - have credit at all the above places except for the TAB of course. Credit is a must in my opinion. However be vigilant with your settling each week.
d) do you use e-wallets such as moneybookers, click2pay, netteller etc.? Which, and why?
No - POLI
e) do you chase bonuses etc. at various sites, and if so, which bonuses do you feel are worth your time?No - waste of time.
f) how do you track your progress/successes/failures etc.?
I don't but I should. Make an attempt at least twice a year and drop off after the second month. That said, its pretty easy to get your results from each place on a quarterly basis.

A few other things.

If you are a regular racetrack punter from home with multiple accounts then you need Dynamic Race Odds (DRO). For $18 pm you get all the odds from every corporate (including Betfair) and TAB changing in real time. You also can bet through the software which saves you logging in to various accounts throughoput the afternoon and missing prices.

For sportsbetting you must have www.sportspunter.com.au in your favourites. Every bookmaker and their prices listed meaning you should never take unders again. Although Luxbet is still not there....

For US Sports, www.pinnaclesports.com is a must to check on any price movements.

 

[sethlad]

I preface this by saying that I am purely a racing punter,85% harness.

a) what percentages of your bankroll are you betting at maximum?
2% is my ABSOLUTE maximum,never never never bet more than that

b) what sites do you use, and how did you decide upon these sites as opposed to others?
Have lots of accounts but the options are limited for harness racing.
Mainly Betfair,IAS now bet fixed odds on the larger meetings & so do Centrebet.
Betezy are currently betting Top Tote but I fear that wont last
I only use the TAB for multiples not available elsewhere & do have a Pinnacle account

c) if you bet online, what method do you use to fund your accounts?
POLI

d) do you use e-wallets such as moneybookers, click2pay, netteller etc.?
NO

e) do you chase bonuses etc. at various sites, and if so, which bonuses do you feel are worth your time?
Not really,occasionally will use a PROMO if it suits but never search them out as they require me to bet outside my expertise
The turnover required on free bet winnings cancels out my interest

f) how do you track your progress/successes/failures etc.?
Spreadsheet with monthly result

seth

 

[Dutchy10]

If you every want to know about chasing bonuses and building your bankroll try this site/forum www.thegamblingtimes.com Im a mod over there and its where I learnt my bonus bagging craft

TRS, definately look at chaning MB or Neteller to US, the currency conversions will kill your profits over time

 

[The Royal Sampler]

Thanks, moneybookers don't allow me to change my default currency, so I'm looking into Neteller now.

 

[The Royal Sampler]

I've got Neteller sorted, but for some reason there's no link to deposit into my account by POLi which sucks. I'm assuming it's only a short-term problem, because normally Australian users can access POLi?

Anyway, that should work well once the glitches are ironed out.

I'm considering joining SportsBet for the $200 free bet and the CityBest odds, can anyone please elaborate on their experiences with this site?

EDIT: The Neteller thing was just poor site layout. The link is there, but not anywhere near where it should be. Now sorted.

 

[Hasus]

a) what percentages of your bankroll are you betting at maximum?
I'm pretty bad in terms of gambling. I think it's something in my family blood that makes us gamble. My grandfather and my dad owned horses and dogs, my grandfather was terrible in terms of gambling, he told me that when his horses were racing at Morphetville he would 5k each way on them, I couldn't believe it. BACK TO THE QUESTION, I earn just over $800 a week and will put out about $50 a day on races, usually $10 or $20 straight on a horse that I like. This week just past I'm up around $1300.

b) what sites do you use, and how did you decide upon these sites as opposed to others?
I use TABOnline.com.au - odds aren't always the greatest but it's just convenient for me to deposit/withdraw money out of and I think it's fairly easy to navigate around.

c) if you bet online, what method do you use to fund your accounts?
Just filling out a paper at TAB's and handing over some cash.

d) do you use e-wallets such as moneybookers, click2pay, netteller etc.? Which, and why?
Negative

e) do you chase bonuses etc. at various sites, and if so, which bonuses do you feel are worth your time?
SkyRacing has a lot of bonuses in-between races for AFL/NRL games where they give code numbers to put money on that the average person wouldn't be able to bet on. Last year for example they gave the Melbourne Victory/Adelaide United Grand Final a betting option that if a team scored in the first 15 minutes of the game or the last 15 minutes, they would be given $10 odds.

f) how do you track your progress/successes/failures etc.?
Keep track by my account by checking my bank withdrawls/deposits. I should probably keep a spreadsheet but it's too much effort

Bit off the track with my answers but I hope someone enjoyed reading

 

[Dr Awkward]

One answer to most of your betting queries:

WWW.BETFAIR.COM

 

[nobbyiscool]

a) what percentages of your bankroll are you betting at maximum?

i try never to keep too much money around (because i have some discipline issues on big race days as the day goes on and i start spotting specials), so i'm happy to go up to 20% if i spot a really good thing

b) what sites do you use, and how did you decide upon these sites as opposed to others?

it's mainly sportsbet for me, just out of force of habit. i signed up mainly as a sportsbetter, and they offer very good odds and a range of options. centrebet is the other that i use regularly, also for the range of options. and they offer some great race day bonuses too.

i've got an account with sporting bet, but it hasn't had any money in it for a while... i've been meaning to close it actually.

i've never gotten into betfair - i'm not a massive punter... i just want to have money in my account for fridays and saturdays, and forget about it for the rest of the week. in having a look at betfair, it just looks as though i don't have the patience to figure out how it works.

c) if you bet online, what method do you use to fund your accounts?

just the old credit card for me. it's very secure - but make sure you're disciplined, cos i know i had one day in particular last spring where i got VERY carried away.

d) do you use e-wallets such as moneybookers, click2pay, netteller etc.? Which, and why?

nope.

e) do you chase bonuses etc. at various sites, and if so, which bonuses do you feel are worth your time?

absolutely, and every site i've ever signed up to has been because of a great sign on bonus. i've also been known to base who i'm punting with based on a bonus - for example, if centrebet are offering a "bet on this race and get a free bet on the other feature race" then i'll definitely punt with them, even if the odds are a couple of cents worth. (just do the maths, its pretty easy).

f) how do you track your progress/successes/failures etc.?

i'm old school - i've still got the little black book (although it's not black).

i track horses to watch, horses i've bet on, and horses that have beaten the horses that i've bet on. and i've got the back pages reserved for the horses that i love, generally as a result of them having done well for me

for sportsbetting? i don't really track them. fortunately, i'm pretty good at sportsbetting... it's horse racing that is my poison. (i generally spend 26 weeks of the AFL season building up an awesome account, then spend 6 weeks in spring losing it all)

 

[Pklz]

Interesting thread. Recently I've started to take punting more seriously and I'm already reaping the rewards.

I'm don't bet in big amounts but I since I've started my blog (see sig) and thought about it more I have made a whole lot of progress.

Just over a month ago I lost more than I could probably afford which is what made me try become smarter about it all. Before then I didn't even keep a record of my bets or profit/losses.

Does anyone have a excel spreadsheet template or something like that I could use? At the moment I'm just putting it in a word doc. PM Me