TheSnapper

TheSnapper    $1 624,59       
Mr.Kelly    $433,99       
Soccer Funds    $201,83       
Reserves    $1 074,75       
Total Funds    $3 285,31
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A good day yesterday for me, I went 10/15 on  my beloved horses for a gain of $27,38. My stakes are now moved up to $8,12.

Mr. Kelly has also started to win again. He hit 7/11 for a gain of $6,43, His stake has moved up to $133,99.

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Start small and compound to become large and grind.

Let's say you set your goal to make a steady source of income from sports betting. Maybe even enough to live on. Let's say you want to earn $5,000 per month which is $60,000 per year. Certainly not riches, but enough to get by or live rather well in most of the world.

There are only 2 ways to do this. One way is to calculate backwards how much you will need to bet each day to earn that much each month. To earn $5,000, assuming you have a 10% edge means that you will have to bet $50,000 per month. That's at least $1,600 per day. (That could be at least $3,000 per day if you are paying 5% commission). If you assume that each bet you are making is a (very) conservative 2% (Mr.Kelly would be calling for 20%!) of your bank per bet as a stake, that would mean that your bank size should be over $80,000 to be able to withstand the inevitable bad runs.

In my view, it is nearly suicidal for a normal person to launch into betting by slamming down $1,6000+ bets per day like this, and unusual for most people to have a spare $80,000 laying around that they suddenly seize upon the idea of launching a sports betting career with.

The second way to be a sports better is to build a bank from a small size up to that $80,000. The advantage is that any small size bank can be grown into a much larger bank. Even $20 is good enough. A $20 bank, can grow into $1000 in less than 50 bets with a 10% edge. The secret to this is by using compounding. Without using compounding, however, a $20 stake will be only worth $100 after 50 bets and a 10% edge.

It just seems to me that what kills a lot of punters is poor bank management and poor math. Start small and compound. Once your bank is big enough, then you can do the large bank grinding of a pro.