Poker Cats

Saturday, September 22, 2007

The secret to gambling: smallball (or, slow and steady wins the race)

I have a friend who has a single bet for all his Bocat money on Penn St. (-3) vs. Michigan, and it's not looking good at this point. I advocated for a diversified approach, but it's a hard thing to understand for recreational bettors.

I see that a lot all over the place, reading hand histories, playing toasters, looking at lines. Sometimes the Hail Mary pass works, but why not just move the chains or advance base to base?

On the 2+2 forums they advocate betting no more than 1 percent to 2 percent of your bankroll on sports bets. Why? Anything can happen. Your team may not win, or even make the line.

Small bets may not look like much, but they will keep you from going busto and you can build upon them as your roll grows.

I think of this in poker, too, with people making crazy moves. Taylor Caby says time and time again in his videos that you don't need to always be making moves to be a winning player. Play solid. Pick your moments and be bankrolled for variance.

2 Comments:

  • So true. I wonder what it is that makes people refuse to believe in taking the smart approach. Is it because they think they're "gambling?" Is it because they think they're above all the conventional wisdom?

    By Blogger Gnome, at 9:51 PM  

  • I think people believe in luck or feel they will win so they don't have to worry about variance, something that the professional class of poker players or sportsbettors know better in the age of the Internet.

    By Blogger kurokitty, at 11:36 PM  

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