How do you bet using a $150 bankroll?

**LordVodka** · 10-01-11, 08:26 PM

I bet smaller than you. I use $20 and try to flip it over and over with success. $150 is good enough if you're careful and go all in a few times but you have to really be careful.

**mebaran** · 10-01-11, 10:44 PM

1) Do not use Martingale. Look up, and research Kelly betting.

2) If you don't want to go broke (wager the correct way), turning $150 into $2000 will take a very long time. If you average a 5% edge on every bet you make (hard to do), it would take you 944 bets to reach the $2000 mark, assuming you are using full Kelly and estimating your edge 100% accurately (even harder to do...in fact, NOBODY can do this. It is impossible to know your edge with 100% accuracy). Each bet you make at that edge will yield about 0.275% expected profit per bet (about 41 cents profit per bet to start at your $150 starting bankroll).

I would suggest using the advanced search function in this forum and search "Kelly" to read up on it. As of right now, I'd say your primary goal is to find a book that has a $1 minimum bet instead of a $10 min bet, etc. You'll need that for sure, as many people suggest betting 1% of your bankroll per bet when first starting...

good luck.

**LordVodka** · 10-01-11, 10:50 PM

Here's some pics from some of my best runs:

http://img849.imageshack.us/img849/399/streakpart1.jpg

http://img690.imageshack.us/img690/1258/streakpart2.jpg

**toddorts** · 10-02-11, 12:51 AM

Forget Kelly, and definitely forget Martingale. Bet a flat 2% of your bankroll per bet (just $3). As your bankroll increases over time (hopefully), recalculate the 2%. Don't recalculate when your bankroll drops after a bad streak, though, as that destroys the ability to make up for the loss. Betting 2% of your bankroll makes it incredibly unlikely to go broke if you have a 53% or better expectation of winning. Once your bankroll builds up a bit, I would start to ratchet it down to a flat 1% of your bankroll, and leave it there permanently. At 1%, if you have a positive expectation on your bets, then you'll never go broke, even in the really hideous bad streaks.

**mrmarket** · 10-02-11, 12:53 AM

Originally posted by I'm_Lucky

Hi Guys,

I'm new to sportsbetting and I'm looking for advice on how to bet using my $150 bankroll. Yes, $150 is probably pocket change for most of you, and some of you may think it's best to just bet $150 on one game, but I would rather take it slow. My goal, which may be unreasonable, is $2000. I'm not under any time constraints, so if it takes me a year to accomplish my goal, then so be it

.. although, 4-6 months would be nice! In other words, I plan on betting semi-conservatively - taking risks when necessary.

If any of you guys could shed some light on what my betting unit should be, if martingale/reverse-martingale are used in sportsbetting, if I should bet big once on a profit (i.e. winning three wagers of $10, and then betting the $30 on one game), or any bankroll or beginners advice, I would really appreciate it!

Thanks!

Your best bet is to add $50 to the $150 and sign up to be a SBR Pro. You can double your bankroll that way by just logging in each day for a year. Other advice is already given but bonus whore if you're non American.

**Domestic** · 10-02-11, 09:11 AM

Originally posted by mrmarket

Your best bet is to add $50 to the $150 and sign up to be a SBR Pro. You can double your bankroll that way by just logging in each day for a year. Other advice is already given but bonus whore if you're non American.

This is great advice, take advantage of the pro program.

I'd bet unit sizes of $5 if I were you. It may seem small but every bet is still more than 3% of your bankroll, and should your bankroll size increase off the back of successful wagers then you should slightly increase your unit size. Also remember when betting you need to take your heart out of it and put your head into it. Don't bet your favorite team just because they're your favorite team, don't let emotion play a part in your wagers.

Best of luck

**tomcowley** · 10-02-11, 09:21 AM

Originally posted by toddorts

Forget Kelly, and definitely forget Martingale. Bet a flat 2% of your bankroll per bet (just $3). As your bankroll increases over time (hopefully), recalculate the 2%. Don't recalculate when your bankroll drops after a bad streak, though, as that destroys the ability to make up for the loss. Betting 2% of your bankroll makes it incredibly unlikely to go broke if you have a 53% or better expectation of winning. Once your bankroll builds up a bit, I would start to ratchet it down to a flat 1% of your bankroll, and leave it there permanently. At 1%, if you have a positive expectation on your bets, then you'll never go broke, even in the really hideous bad streaks.

This goes busto with P=1 over time, as does anything that doesn't decrease wager size on a downswing. If you want to actually learn and make a little money, deposit to SIA and bet the off numbers according to some reasonable formula (half-kelly is fine).

**rsigley** · 10-02-11, 10:11 AM

i'd like to increase my bankroll by 13 and 1/3rd in 4-6 months too

**I'm_Lucky** · 10-02-11, 02:18 PM

Thanks for the input guys .. I glanced over the Kelly approach and as Mebaran mentioned, it would take me forever to reach my goal. I'm thinking of partially using the Kelly approach, along with a unit bet between $3-5 until I make some profit .. and then maybe deviate from the norm and make one big bet on a play I'm confident in, lol

I'm sure it's more likely I'll go broke then reach the $2000 mark, but I'll give it a shot ... it's funny when I think about it, cause when I go to Vegas every year, I don't mind putting down $100-$300 on a single game, but for some reason, I feel like I'm being a nit online, lol .. anyways I digress

Thanks and any other advice and comments are welcome!

**Sawyer** · 10-02-11, 06:17 PM

My advice is,

Don't make any bets. Wait and save money for a bigger bankroll. You can lose your 150$ easily by losing 3-4 games in a row because I doubt you will be motivated to wager 3-5$. Even if you had a good run, actually you're leaving a fortune on the table by betting 5-10$.

150$ cannot be a bankroll. Gamblers usually deposit small amounts, such as 250-500$. They lose it then reload again. When you look overall, bettor may had deposited 2000-3000$ but he's not aware of it.

The solution is, be patient and wait. Save money. You need at least 800-1000$ to treat it as a bankroll. This way, you'll be more disciplined. Running a 300-400$ bankroll is nothing but a waste of time. Sure, by being agressive you can increase it by x5 in a week but only if you're lucky. You should follow Money Management Rules and stick with the plan.

In forums, I see people who turned 200-300$ bankroll into 3000-5000 in 8-9 days. Yeah, it's possible..but it's not something healthy. It's like losing 10 kg in 10 days. You know what they say easy come, easy go! If you increase your bankroll by %500 in a week, you can lose it 2-3 days as well. But if you increase your bankroll slowly but steady..then you won't lose it easily.

Save money. Wait. Then make a good deposit. 800-1000$ is not bad for start. Good luck!

PS: Betting with low stakes (such as 50-100$) may not be motivating but your first goal should be to gain "money management skills", not making money. So if you like to make practice about it, even a bankroll is not needed. You can do it with 1$ too. But again, as I mentioned, do it only if you like to gain money management skills. If you can't manage a small bankroll, how you will run a 20k bankroll?

**TheMoneyShot** · 10-02-11, 07:00 PM

$150 Bankroll? Wow... I remember betting this amount 12 years ago. Yep, those $10 and $20 plays.

I would just hit a few $20 plays. Sawyer is right though... listen to what he said in his post. You really shouldn't even be wagering $20. But... that's what I would do in your situation.

**WendysRox** · 10-02-11, 09:59 PM

Well, after reading every post except that really long one, I'd have to say that you are getting terrible advice. You can't, I .. I say you simply can't make $2k with $150 in a year without taking some risks. look man, you're not going to reach your goals by betting 1% of your roll. 1% = $1.50 per bet. It ain't gonna work. Not that I know what I'm talking about, but if it were me, I'd bet $10-50 on some NFL teasers. I'd guess that 80% of NFL games could be won on either side with a teaser. Yeah, this may not be an accurate %, but it's my drunken opinion.

Anyway, kelly is nice to learn about, as is EV, EG, ganchrow, pythagorean formulas, distributions, bayesian stuff, etc. But, to be honest, I don't think any of that applies to a guy that wants to turn $150 into $2k in one season (or even one year). You're not going to learn anything in the Think Tank that would help you do that. What you'll learn here is how to turn $500k into a $20k/yr salary, which is a totally different venture.

I wish you luck and it is possible, but don't be discouraged if you go broke a few times in the process. To accomplish your goal, you're going to have to take more risk than most people in the think tank would recommend. But, then again, they're a bunch of tight wad mathematicians that would rather tout than gamble. Good luck!

**RickySteve** · 10-02-11, 11:32 PM

Originally posted by rsigley

i'd like to increase my bankroll by 13 and 1/3rd in 4-6 months too

Might I suggest futsal?

**CollegeOverUnder** · 10-03-11, 12:03 AM

Originally posted by tomcowley

This goes busto with P=1 over time, as does anything that doesn't decrease wager size on a downswing. If you want to actually learn and make a little money, deposit to SIA and bet the off numbers according to some reasonable formula (half-kelly is fine).

this is probably the smartest post ive read

**suicidekings** · 10-03-11, 12:06 AM

Honestly, $150 into $1000 in 4-6 months is a completely unreasonable goal, especially for someone with no experience. The first thing you need to do is educate yourself and develop the right mindset. Money management, understanding that a knowledge of sports does not directly translate into a knowledge of sports betting, and realistic expectations for what you're trying to accomplish are all critical before you wager even one dollar.

Sawyer is correct about $150 being too small for you to take the wager size seriously without risking too much of your capital per play. Stick with betting SBR points and add a little to your bankroll with every paycheque so by the time you have the knowledge base to start betting, you'll have more to work with.

Also, no one ever believes this when they first hear it, but winning at a 55-57% rate makes you a very successful handicapper. Come to terms with the fact that we're talking about predicting sporting events here, where the variance is HUGE from game to game and week to week. Even the experts go through cold streaks and any bum can have a hot start. Neither of these are necessarily indicative of that person's long term success.

Good luck.

**blix177** · 10-03-11, 02:51 AM

Originally posted by I'm_Lucky

Hi Guys,

I'm new to sportsbetting and I'm looking for advice on how to bet using my $150 bankroll. Yes, $150 is probably pocket change for most of you, and some of you may think it's best to just bet $150 on one game, but I would rather take it slow. My goal, which may be unreasonable, is $2000. I'm not under any time constraints, so if it takes me a year to accomplish my goal, then so be it

.. although, 4-6 months would be nice! In other words, I plan on betting semi-conservatively - taking risks when necessary.

If any of you guys could shed some light on what my betting unit should be, if martingale/reverse-martingale are used in sportsbetting, if I should bet big once on a profit (i.e. winning three wagers of $10, and then betting the $30 on one game), or any bankroll or beginners advice, I would really appreciate it!

Thanks!

Don't bother with investing sport betting, ur better off buying stock or options. EV would be higher. The only way for a newbie to make money on sport gambling is to hunt for bonus, arb lines, stream betting, or be a bookie yourself.

And by chance you figure a way to get $150 to 2000, the number of hours you invested in it, your better off helping someone mow their lawn or walk their dog for money.

**Ruifgalmeida** · 10-03-11, 04:31 AM

Bonus whoring is a nice way to boost your bankroll

**Raven66** · 10-03-11, 06:31 AM

Originally posted by TheMoneyShot

$150 Bankroll? Wow... I remember betting this amount 12 years ago. Yep, those $10 and $20 plays.

I would just hit a few $20 plays. Sawyer is right though... listen to what he said in his post. You really shouldn't even be wagering $20. But... that's what I would do in your situation.

What are you betting per game?

**Raven66** · 10-03-11, 06:32 AM

Originally posted by suicidekings

Honestly, $150 into $1000 in 4-6 months is a completely unreasonable goal, especially for someone with no experience. The first thing you need to do is educate yourself and develop the right mindset. Money management, understanding that a knowledge of sports does not directly translate into a knowledge of sports betting, and realistic expectations for what you're trying to accomplish are all critical before you wager even one dollar.

Sawyer is correct about $150 being too small for you to take the wager size seriously without risking too much of your capital per play. Stick with betting SBR points and add a little to your bankroll with every paycheque so by the time you have the knowledge base to start betting, you'll have more to work with.

Also, no one ever believes this when they first hear it, but winning at a 55-57% rate makes you a very successful handicapper. Come to terms with the fact that we're talking about predicting sporting events here, where the variance is HUGE from game to game and week to week. Even the experts go through cold streaks and any bum can have a hot start. Neither of these are necessarily indicative of that person's long term success.

Good luck.

A few bets and he'll be at $1000 in no time. But he needs to know what he is doing.

**That Foreign Guy** · 10-03-11, 06:36 AM

150 to 1000 in six months is pretty easy assuming you have not previously had any online sportsbook accounts and are of legal age.

Signup bonuses FTW. Start with the smallest and easiest ones (money back / free bets) and move up.

**I'm_Lucky** · 10-03-11, 01:23 PM

After reading the posts, I realize $150 to $2000 (or even $1000) seems completely unreasonable unless I gamble right from the start & go on a hot streak ... as Sawyer mentioned, I think if anything, I should learn money management first and then start off with a decent bankroll once I'm ready.

Raven66: I'm just a casual sportsfan who follows most major sports (i.e. MLB, NBA, NHL - hockey is probably my strongest as I'm from Toronto, Canada) and know a little more about sports than the average person, but suicidekings made a good point ... knowing basic stats isn't gonna help me

And yeah, I wish I did more research on the bonus thing ahead of time .. I just deposited into Pinnacle without even knowing about it, lol

Guess I'll have to decide if I practice money management with the 150 or just gamble with it, lol ... thanks guys, all these posts are helping me learn

**Crayzee** · 10-14-11, 03:03 PM

bet $5 per game on ml dogs
just bet dogs that are between even and +7 on the regular line
same in baskets or hockey

**FreeFall** · 10-14-11, 03:53 PM

the same way you do with a 100k bankroll

**stevenash** · 10-14-11, 05:16 PM

Originally posted by toddorts

Forget Kelly, and definitely forget Martingale. Bet a flat 2% of your bankroll per bet (just $3). As your bankroll increases over time (hopefully), recalculate the 2%. Don't recalculate when your bankroll drops after a bad streak, though, as that destroys the ability to make up for the loss. Betting 2% of your bankroll makes it incredibly unlikely to go broke if you have a 53% or better expectation of winning. Once your bankroll builds up a bit, I would start to ratchet it down to a flat 1% of your bankroll, and leave it there permanently. At 1%, if you have a positive expectation on your bets, then you'll never go broke, even in the really hideous bad streaks.

solid advice

**Dwell** · 10-14-11, 07:03 PM

Originally posted by TheMoneyShot

$150 Bankroll? Wow... I remember betting this amount 12 years ago. Yep, those $10 and $20 plays. I would just hit a few $20 plays. Sawyer is right though... listen to what he said in his post. You really shouldn't even be wagering $20. But... that's what I would do in your situation.

Great story...compelling and rich.

**matekus** · 10-15-11, 07:57 AM

Upper Bound on Reaching Target

In general, the probability of reaching, in a finite time interval, a final bankroll of $y from an initial bankroll of $x (where y > x) without going broke is bounded above by x/y irrespective of the gambling strategy adopted. In other words, p($150->$2000)<= 150/2000 = 7.5%. I strongly advise that you either set a more realistic goal or start with a larger bankroll!

matekus

**CrimsonQueen** · 10-15-11, 09:41 AM

Bet $1.50 -> $3 per game. Learn money management. Honestly though, $150... I'd bet 5-10% per game and hope not to go broke. Then if you go broke, bonus whore.

**KapKing** · 10-15-11, 10:33 AM

move aallin on a +675 parley.

**tomcowley** · 10-15-11, 01:39 PM

Originally posted by matekus

In general, the probability of reaching, in a finite time interval, a final bankroll of $y from an initial bankroll of $x (where y > x) without going broke is bounded above by x/y irrespective of the gambling strategy adopted. In other words, p($150->$2000)<= 150/2000 = 7.5%. I strongly advise that you either set a more realistic goal or start with a larger bankroll!

matekus

LOLWTF. Sports isn't a 0ev random walk if you're doing it right. Or, in almost all cases, even if you're doing it wrong.

**babar1000** · 10-15-11, 05:52 PM

Originally posted by I'm_Lucky

Hi Guys, I'm new to sportsbetting and I'm looking for advice on how to bet using my $150 bankroll. Yes, $150 is probably pocket change for most of you, and some of you may think it's best to just bet $150 on one game, but I would rather take it slow. My goal, which may be unreasonable, is $2000. I'm not under any time constraints, so if it takes me a year to accomplish my goal, then so be it

.. although, 4-6 months would be nice! In other words, I plan on betting semi-conservatively - taking risks when necessary. If any of you guys could shed some light on what my betting unit should be, if martingale/reverse-martingale are used in sportsbetting, if I should bet big once on a profit (i.e. winning three wagers of $10, and then betting the $30 on one game), or any bankroll or beginners advice, I would really appreciate it! Thanks!

Bet on your favorite sport and take your time.
Be patient.
Kelly Criterion is a good money management method.
And when you are "sure", bet a lot of moneyl!!!
There is one rule, never be broken.

**the_orangekat** · 10-16-11, 01:41 AM

I generally bet about 10% of my total bankroll per wager. GL with your goal.

**chachi** · 10-16-11, 06:37 AM

as a non-American, your best bet would be to take a few decent signup bonus offers, dutch or lay them off to scalp the bonus, and repeat a few times until your bankroll is say $500 or more

then stick to a $5 unitsize to teach yourself money management skills otherwise you'll overbet at the wrong time and throw it all away.

youll make more money, faster and in a straight line by scalping bonuses to build your initial bankroll, than you will by selections alone unless you are very fortunate in your initial picks

otherwise, whether its what you want to hear or not, sawyer speaketh the truth ...

**MCherry281** · 10-16-11, 07:11 AM

The $3 thing sounds like good advice but are you really going to want to do that? I have deposited 50 before and thought I'd grind away with the $5 stuff but I quickly lose motivation to stick with that and end up going all in or splitting an all in on two plays to make or break it. I say go at least 22 to win 20 to start. Anything less than that just isn't worth it (to me at least)

**TheCommish** · 10-16-11, 07:55 AM

If your goal is to just to have some fun and last a long time, go ahead and stick to $5-$10 bets. if you're any good, at least you'll be around a while.

If your goal is to turn $150 into $2000 or more, you'll need to take risks. Like any type of investing or gambling, the greater the risk, the greater the potential reward. If you started this a couple of weeks ago, you could have accomplished your goal already by jumping on LSU/Bama/Stanford/OKST parlay bandwagon.