How do you manage your sportsbook money?

[PFunk]

That fact is, with the Aces Gold fiasco, a lot of us need to re-evaluate how we handle our money handling procedures. To be a winner means to have discipline. Proper money management could have softened the blow for a lot of people.

Everyone should have at least 3 outs. Preferably 4 or more. And you should never have more than 20% of your bank roll deposited at one time. After all, are you going to bet through your entire bank roll in one week? 20% should be plenty for a week's action. Every Monday, take out your winnings or deposit more as needed. Divide it up between your books and you should be safe. If you have 4 outs, that's 5% of your bank roll at each sportsbook. If one goes under, it's not the end of the world. You essentially had one bad night.

[sportshobby]

This makes me think back to a recent post by JC, asking why players withdraw their money so often (as compared to a stock brokerage account). No disrespect meant, but the answer should now be more obvious.

[stardust]

I only have about 5 dimes offshore, most of it won/found money.

Hell, I'm still using 2 dimes I won at BW two years ago.

I'm in about 6 outs, the largest balance is at WSEX.

If I lost some of the amounts I hear and see posted, I'd be sick to my stomach.

What we all ned is a money transfer system that is safe, fast, dependable and cheap.

Like why can't you keep the cash in a NETeller-type of account, move it to the book when you want to wager and move out the cash if you win? I have used NETTeller, but am not that sure of how they work and if they are, in reality, any safer than a book.

My local guy won't carry a large balance on me, so why should a player carry a large balance on a book? Makes no sense to me.

It's easier, because all that moving money, in addition to line shopping and handicapping, will add lots of time to your activity.

Of course when you lose 10 dimes, or what have you, all the other stuff was all for nothing. You may as well have been sitting at PokerRoom.Com and playing at the "fun" tables.

I think a way to move the money is a piece of solving this puzzle.

You'd have to be offshore, because Uncle Sam ain't gonna sit idly by and let you move mountains of cash around the world.

Could you be profitable taking 1.5% of the money moved? How about 2%? That's $200 to move 10 dimes. Where does the player decide it's too much?

As always - Good Luck,

Sonny