Dale Cooper Posted June 18, 2007 Share Posted June 18, 2007 Have found that I have extremely poor bankroll management and it's really costing me at the moment. Want to improve this for the long run so thought it best to post on here. Say I was to start with a bankroll of 1000 points and I planned to make 25 points a day, or 125 points a week (probably better doing it by the week/month?). Is this really achievable or am I fooling myself? What sort of staking plan is recommended in this instance? By the way, I will be using Betfair (both backing and laying). Thanks in advance! Quote Link to comment Share on other sites More sharing options...
Dale Cooper Posted June 19, 2007 Author Share Posted June 19, 2007 Re: Safest way to manage your bank? Anyone got any ideas? Quote Link to comment Share on other sites More sharing options...
Valiant23 Posted June 19, 2007 Share Posted June 19, 2007 Re: Safest way to manage your bank? Dale, first and foremost I think you're quite vague. Let me explain why. I bet mainly on US sports playing the handicap markets. I can virtually guarantee that the odds I will get are on average 1.90 and this allows me to calculate a break-even strike rate (approx 56%). I then ran some calculations with the help of a few Plers and I decided the best betting strategy for me was 5% of bank. You can see this here. http://www.punterslounge.com/forum/showthread.php?t=41361&page=2& I may even suggest that bankroll management is the last thing that should be considered, once you have found an area in which you have decided to stick to. Quote Link to comment Share on other sites More sharing options...
Sgt.Sunshine Posted June 19, 2007 Share Posted June 19, 2007 Re: Safest way to manage your bank? It depends a lot on your betting strategy, and the sort of odds you bet on. Personally when I develop a system I look at the projected yield, how many bets per day or week it will generate, how risky it is (how violently the graph swings up and down :lol) and then work out how much to stake per bet based on either current bankroll or how much monthly income I would like it to generate. There are lots of "rules" around if you do a bit of searching, such as never stake more than 1% of your bank on any bet, and also lots of info on staking strategies. My take is that if your system or method has an edge, then level stakes is fine. It's certainly a lot easier than adjusting your stake when you make lots of bets. Quote Link to comment Share on other sites More sharing options...
Dale Cooper Posted June 20, 2007 Author Share Posted June 20, 2007 Re: Safest way to manage your bank? Thanks for the replies guys. I know I posted this in the 'systems' section but I don't really have a system at the moment. I bet mainly on live events that I can see for myself here at home. This gives me a much better indication as to how a particular bet is going and whether I should stay or get out before it loses. The way Betfair reacts to games/matches/etc is crazy and this really does give you certain attractive opportunities I feel. For example, I always think that the overs/unders market in the soccer moves quiet quickly if a goal isn't scored in the first 15 minutes. Same goes for tennis (which I think is the one that flucuates the most in my expierence). Looking foward to your replies, Dale. Quote Link to comment Share on other sites More sharing options...
richards1986 Posted June 24, 2007 Share Posted June 24, 2007 Re: Safest way to manage your bank? Back the draw pre-match, wait 15 minutes.. wait for it, waaaaaaaaaaaaaaaaaaaaaaait, waaaaaaaaaaait........ now lay the draw at a lower price than you backed woohooo tiny profit :D. (provided theres no goals that have been scored of course). Quote Link to comment Share on other sites More sharing options...
Dale Cooper Posted August 1, 2007 Author Share Posted August 1, 2007 Re: Safest way to manage your bank? Haha, yeah, bit risky all the same though. Plus you're talking about a large enough stake to make any worthwhile profit at all. I'm still thinking about what system I'd like to employ and I'd like to sort it out as soon as possible. My discipline is awful and I feel that if I follow something along the lines of 'making 1% of your bank a day' that it would most certainly help me in the long run. So, taking my initial example, I start with a bank of 1000pts with a view of making 1% of my current bank daily. With the following formula I can calculate how much I would have in my bank after 10 days (presuming I meet the 1% target each day). 1000*((100+1)/100)^10 = 1104.62 Any advice as to how I'd manage it when I hit a losing bet or hit a pretty poor losing streak? This is the only problem I'm having with this at the moment as I'm not sure what to do in such a scenario. Thanks in advance, Dale. Quote Link to comment Share on other sites More sharing options...
whycantistayawayfromdogs Posted August 1, 2007 Share Posted August 1, 2007 Re: Safest way to manage your bank? if i were doing this i wouldnt be setting myself daily targets, what if theres nothing that interests you that day, would you just bet on Xchange games lol? Limiting your bets is a good idea, but again you need to know what you are betting on, if your betting on horses that are generally less than 2/1, then your bets can be bigger relative to your bank, whereas they need to be smaller if you are betting on 20/1 shots... Either way, i wouldnt go setting yourself a target for each day, maybe each month, even then i see it as risky. Quote Link to comment Share on other sites More sharing options...
Dale Cooper Posted August 1, 2007 Author Share Posted August 1, 2007 Re: Safest way to manage your bank? True, should have stated that it'd be 1% for a day in which I really fancy something. Quote Link to comment Share on other sites More sharing options...
Dale Cooper Posted August 1, 2007 Author Share Posted August 1, 2007 Re: Safest way to manage your bank? So what would you recommend as the minimum and maximum stakes? What should I do when I hit a losing streak? Cheers. Quote Link to comment Share on other sites More sharing options...
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