Any pro gamblers on Veeky Forums? Need advice on how to properly manage my bankroll

Inmate
Inmate

Any pro gamblers on Veeky Forums? Need advice on how to properly manage my bankroll.

VisualMaster
VisualMaster

never ever bet more than 3% of it.

It's best to not bet at all, but you already know that

Boy_vs_Girl
Boy_vs_Girl

why would it be best not to bet at all? If you can consistently bet on value then you will win in the long run. similar to investing in stocks isn't it?

and why 3% as max bet?

is it best to bet the exact same amount on every wager?

These are the types of questions I'd like answers to. If there are any serious gamblers who have had long term success here please respond.

Evil_kitten
Evil_kitten

Variance ?

Emberburn
Emberburn

what about it?

LuckyDusty
LuckyDusty

Kelly Criterion

[Payout(winning% - losing%)] / Payout

Payout here bring the multiple a win brings over the amount gambled.

Supergrass
Supergrass

is the kelly criterion really the way to go? The problem I have with it, is that it's hard to get an accurate number for winning/losing % chance.

Isn't there a better way senpaitachi?

hairygrape
hairygrape

Depends on your system, if your value investing do kelly cryterion/along those lines

High risk high reward systems can be whole bankrolls

Whats your system boyo?

VisualMaster
VisualMaster

This is presupposing you're good at risk intelligence and can calculate probabilities with any degree of certainty. Kelly's formula is only as useful as the input you provide to it.

Dreamworx
Dreamworx

Kelly isn't good for sports because you don't really know your edge for sure. It'll put you on the road to ruin.

Flameblow
Flameblow

Maybe ask this guy >

RumChicken
RumChicken

Hi,

OP of that thread here. Kelly criterion is the answer. I have a spreadsheet set up which calculates this automatically. Realistically, however, you stand very little chance of becoming a winning gambler. You're in Canada which makes it a little more tricky (no Skrill or Neteller) but there are a couple good bitcoin sites which you could take advantage of. Message me at [email protected]

Evilember
Evilember

I asked this in your last thread but it looks like it got taken down since you're trying to steal people's identities.

Why don't you just use Bitcoin sites? Is it because you don't get the bonus bets that way?

Also are you aware and excited for Augur(guaranteed failure) and Bitcoin Hivemind(superior)?

PurpleCharger
PurpleCharger

Bankroll is dependent upon a lot of factors. If betting is your main income you need a higher bankroll to make sure you can pay your bills and continue to work. Also depends on how you bet and what you bet on, bigger variance means bigger bankroll. There's a lot more to consider beyond that too.

whereismyname
whereismyname

Do you have a steam ID?

Also asking for OP of this thread. I have an algorithm involving csgo betting and would like someone to discuss bets with.

RavySnake
RavySnake

Break it down

Spazyfool
Spazyfool

is this a good bet?

Playboyize
Playboyize

interesting. i've tried a little bit of CS:GO betting with no success. Does your algorithm involve pre-bets or live-in-play bets?

kizzmybutt
kizzmybutt

metaknight on suicide watch LOL

Soft_member
Soft_member

not singles
"No"

Stupidasole
Stupidasole

Can someone explain OPs pic to me? What is stake and to return? Is that the money you risk and what they pay if you win? What about cash out??

Nude_Bikergirl
Nude_Bikergirl

Stake: how much you have bet
To return: what you win + your stake
Cashout: a scammy way to hedge your bets, lose value and pay vig twice

Nojokur
Nojokur

Wants consistent returns
Does parlays

...

Anyway join betting groups on Facebook. Most of what they churn out is shit but you'll occasionally come across some good opportunities. I'm assuming you're in the USA so i'm not sure how big horse racing still is there but in Australia it's still pretty big, and a group i've got does have a few guys who know how to study the form and most of the time seem to come out ahead. And yes, occasionally putting a few dollars on a trifecta can pay off. But don't look for consistent returns.

If you're looking at sports, know your sports and keep a very close eye on the news. For example if you get wind that the 49ers top running back is ruled out a few days before the game the odds on Oakland to win will reduce, of course. If you can get onto Oakland before the oddsmakers make their adjustments then you've gotten good value.

You might want to try this thread on /sp/, they normally have a bet thread going and would probably be better equipped to answer some of these questions.

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