Betting Talk

Managing bankroll

lumpy19lumpy19 Senior Member
edited October 2012 in Sports Betting
hypothetical #1

newer bettor learning how to gamble
10k post up
2k credit

Is your bankroll 12k or 10k?

hypothetical #2

veteran gambler with a proven history
100k post up
20k credit

Is your bankroll 120k or 100k?

Curious to see what people think

Comments

  • tribecalledjefftribecalledjeff Senior Member
    edited October 2012
    I'd say 10k and 100k, but I would always rather err on the conservative side.
  • TheRebTheReb Senior Member
    edited October 2012
    lumpy19 wrote: »
    hypothetical #1

    newer bettor learning how to gamble
    10k post up
    2k credit

    Is your bankroll 12k or 10k?

    hypothetical #2

    veteran gambler with a proven history
    100k post up
    20k credit

    Is your bankroll 120k or 100k?

    Curious to see what people think

    Would treat it like it's a cash account with 20% margin, just like a stock account...if it goes the wrong way better watch out and be ready to handle it, and as with margin use it to your advantage in any and all +EV situations. So my answer would be the higher amount is available to maximize returns, so the higher amt. when prudently used
  • increasedoddincreasedodd Senior Member
    edited October 2012
    It's the amount you are willing to lose before you quit. I have 3-4x more credit than I am willing to lose before I would quit. My bankroll is what I'm willing to lose before I would never place another bet. As my net worth goes up, I add to my bankroll and generally keep it at about 10% of my cash.
  • bburritosbburritos Member
    edited October 2012
    Does this person have money other than their "bankroll" that they're willing to risk? If so, I'd say 12 and 120. If not, I'd say 10 and 100.
  • GoatsGoats Head Moderator
    edited October 2012
    bburritos wrote: »
    Does this person have money other than their "bankroll" that they're willing to risk?

    If they do, then it should be counted as "bankroll" and the numbers should be adjusted (based on the definition I use).
  • lumpy19lumpy19 Senior Member
    edited October 2012
    bburritos wrote: »
    Does this person have money other than their "bankroll" that they're willing to risk? If so, I'd say 12 and 120. If not, I'd say 10 and 100.

    No other money
  • GoatsGoats Head Moderator
    edited October 2012
    BTW, I didn't answer b/c my answer would be the post up amounts, but Reb's comments about stock accounts (which I know zero about) make me think the proper answer is probably a more complex one along the lines of the one he gave.
  • bkszebksze Senior Member
    edited October 2012
    IMO your question is too simple to have have an answer.

    I define my bankroll on my spreadshet. It is a fraction of the credit available to me with my locals and considerably larger than the amount I keep in my Pinnacle account.

    If this guy has no other money, then his bank roll should be more like 1k and 10k. Keep the other 90% to live.
  • GoatsGoats Head Moderator
    edited October 2012
    bksze wrote: »
    If this guy has no other money, then his bank roll should be more like 1k and 10k. Keep the other 90% to live.

    I'm pretty sure lumpy meant no other money to put towards gambling, not no other money to his name.
  • tribecalledjefftribecalledjeff Senior Member
    edited October 2012
    TheReb wrote: »
    Would treat it like it's a cash account with 20% margin, just like a stock account...if it goes the wrong way better watch out and be ready to handle it, and as with margin use it to your advantage in any and all +EV situations. So my answer would be the higher amount is available to maximize returns, so the higher amt. when prudently used

    I love this answer.
  • StackAttackStackAttack Senior Member
    edited October 2012
    So side bar: what's the best money management book to read? I'm assuming you start out reading about stocks then maybe fine something on sports. Could be wrong
  • lumpy19lumpy19 Senior Member
    edited October 2012
    TheReb wrote: »
    Would treat it like it's a cash account with 20% margin, just like a stock account...if it goes the wrong way better watch out and be ready to handle it, and as with margin use it to your advantage in any and all +EV situations. So my answer would be the higher amount is available to maximize returns, so the higher amt. when prudently used

    Really good analogy and not something I had thought of, good post.

    I'd say hypothetical #1 the guy has a 10k bankroll because he is a newer bettor and we don't know if he's a winner yet.

    Hypothetical #2 he(or she) has a proven history, I'd argue he has a 120k bankroll.

    Some good answers in here, I'd like to hear how other people treat their credit accounts as part of their bankroll.
  • kass101kass101 Senior Member
    edited October 2012
    lumpy19 wrote: »
    No other money

    10k and 100k than.

    what would change that is if the 100k bettor is making plays at +ev at which point it would obviously be prudent for him to use all resources available to maximize returns as stated.

    thus my only problem with they second hypothetical is if that is the only money he can lose and be done he must not be a +ev bettor.
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