Fancy Money Management

[sligg]

This is directed to Dick Schmitt and also to the general group

In one of your posts you stated if you have a 30 to 40% ROI you don't need fancy money management, just find a place to stack your winnings.

If you do have this kind of return, how would you bet:

Flat bet, % of bankroll, or any other suitable method you know of?

[skate]

if you have that return, keep doing what you are doing

[Dick Schmidt]

I just answered this question in a thread down in the "books" section. Do you guys work together??? Anyway, here is my answer:


If I was averaging a 30 or 40% return with an 80% win percentage (which is what I think you are saying), I would be pushing as much money through the windows as possible (say 20% of bank per bet). No matter what money management system you used, you would be up against pari-mutual limits in a manner of weeks. What you would need to do is determine just how much you can bet at each track without tilting the odds too far (you'll always tilt them a little) and remain profitable. Then bet that amount forever on every race run. Do that for every track in the country and then start in on Europe and Australia. Bet with rebates and own the world.

Dick

Show me a man with both feet firmly on the ground, and I'll show you a
man who can't get his pants off.

[PriceAnProbability]

This is directed to Dick Schmitt and also to the general group

In one of your posts you stated if you have a 30 to 40% ROI you don't need fancy money management, just find a place to stack your winnings.

If you do have this kind of return, how would you bet:

Flat bet, % of bankroll, or any other suitable method you know of?

If you have this kind of return, your main goal should be ensuring that you sustain it. If you can sustain it, try the "fire at will" money management strategy, and you'll do fine.

If you can't sustain it, start thinking of your ROI for what it really is over the long run, rather than at its best.