Going all in or something similar in sports betting

dave nz · #1 01-09-2007, 05:48 AM

To be honest I was quite saddened to hear about a fellow sports punter, who unloaded and bet over 60% of his bankroll on what he thought was a good thing (-500) juice. He is now done with sportsbetting. It lost but that is not what I thought was sad. It was the fact that he bet that much of his bankroll on a bet. Bottom line no matter how good or certain a bet looks corruption aside there is never such a thing as a certainty or close to a certainty in this game.

To be successful at sportsbetting there are many keys, one being..... never I repeat never bet more than 5-7% of your bankroll on a single bet. Thats the maximum, the basis of your bets should be around the 2% mark. Its all about grinding out a profit in the long term. I realise most of the veteran members here who bet most days have pretty good money management in this respect, you can't survive without it! This post is more directed to those starting out, or those still with alot to learn in sportsbetting.

To illustrate my point at this very site have a look at competitions here at cappersmall, where there are no wager $ limits (albeit Imaginary $ in this case) on what you can take.
For example the MLB and NBA P.O.D. contests. Have a look at the % of cappers who get wiped out by going all in. I can tell you that % is very high.

I know its different because its not real money the person is wagering so I can understand why you would do so in a contest like these. However that is aside from the point because the person making those selections is still trying their best to win, exactly like what the person betting real money is trying to do and at the end of the day usually the end result is exactly the same.

jonnyblaze · #2 01-09-2007, 08:50 AM

Very infomrative and very correct, imo.

Though if your bankroll is big enough and your playing ML, you can risk up to (and will prob need to) about 10-15% on certian games.

DosBullets · #3 01-09-2007, 09:06 AM

Good Stuff.

Always good to be reminded that this is a grind it out business. Seems to fall on deaf ears, most of the time. Already know of some locals who bet too much on the BCS game and NFL playoffs and lost 50+% of their bankroll, and are wondering what went wrong. I myself have battle with this at times, trying to take advantage of winning streaks, pressing more than I should. It's a lesson one needs to learn fast, or you won't last, it's that simple. You can't determine success within a season,or a year or two of wagers. Its a very long term process. After 10+years of grinding it out ...where do you stand then?..is a more realistic approach. I guess people have this dream that they will make a fortune overnight, instant gratification, and instant recognition of their handicapping skills...to win the battles you must stay alive in the war! Peace and good luck to you Dave

WildKat · #4 01-09-2007, 09:54 AM

Great post Dave! I myself, have a terrible problem with this situation. I think because I usually just put in a couple hundred at a time that making that small of a wager doesn't seen like I'm getting anywhere. I then will make wagers that are 25-50 or 75% of my bankroll.......After losing it all, I will then wait a bit and start the process over again...I have been better this past month, in one, making better selections on larger wagers, two, in making fewer bets. Good post to get me back to making better money management decisions!

skippy · #5 01-09-2007, 01:59 PM

Quote:

Originally Posted by dave nz

To be honest I was quite saddened to hear about a fellow sports punter, who unloaded and bet over 60% of his bankroll on what he thought was a good thing (-500) juice. He is now done with sportsbetting. It lost but that is not what I thought was sad. It was the fact that he bet that much of his bankroll on a bet. Bottom line no matter how good or certain a bet looks corruption aside there is never such a thing as a certainty or close to a certainty in this game.

To be successful at sportsbetting there are many keys, one being..... never I repeat never bet more than 5-7% of your bankroll on a single bet. Thats the maximum, the basis of your bets should be around the 2% mark. Its all about grinding out a profit in the long term. I realise most of the veteran members here who bet most days have pretty good money management in this respect, you can't survive without it! This post is more directed to those starting out, or those still with alot to learn in sportsbetting.

To illustrate my point at this very site have a look at competitions here at cappersmall, where there are no wager $ limits (albeit Imaginary $ in this case) on what you can take.
For example the MLB and NBA P.O.D. contests. Have a look at the % of cappers who get wiped out by going all in. I can tell you that % is very high.

I know its different because its not real money the person is wagering so I can understand why you would do so in a contest like these. However that is aside from the point because the person making those selections is still trying their best to win, exactly like what the person betting real money is trying to do and at the end of the day usually the end result is exactly the same.

I follow a very simple rule: NEVER take a favorite higher than -130