Course No. ABM 406
Chapter 6: Bringing It Together
Welcome to the final chapter of the Advanced Bankroll Management series.
Up until this point, you have read and been taught the different aspects of bankroll management that can take your gameplay from better to best. Not only will you be managing your money better but also, you will be making your money work for you.
Consider this chapter a refresher and primer for you to refer back to. My suggestion would be once a month you get these series out and refresh yourself as well as your most current data to have your portfolio be ever changing.
Chapter 1 – “Understanding Your Business"
In this chapter we discussed which games are the most profitable for you to play. I asked you to complete an exercise of obtaining all of your games played in each sport and calculating your return on investment (ROI) pertaining to each. The reason for this is, you want your money to be allocated toward games that you excel at. If you are winning at a significantly higher clip at one game and not allocating your bankroll appropriately towards those games, you are essentially burning money. Daily fantasy sports are hard enough that we do not need to make more challenges for us.
Chapter 2 – “Step Into My Office"
In chapter two we discussed how to set up your personal bankroll management plan that is completely specific to you. I gave you specific formulas and information of how to allocate your bankroll dependent on game type and overall ROI.
This is the beginning of turning yourself from good to great. We focused in on allocating our money towards the games that were most profitable at a percentage that has math as the deciding factor.
We also discussed the importance of tracking your results and being certain that you are adapting to the ever-changing landscape of daily fantasy sports.
Chapter 3 – “Paying Yourself"
In chapter three we discussed the importance of setting goals, growing your bankroll and paying yourself. Most people never give themselves a chance to make real money in fantasy sports because as soon as they have a large cash they cash out a significant portion of that money. Instead, I have taught you how to allocate funds towards your bankroll versus your bank account giving you the opportunity to grow and excel in this industry you enjoy.
I also explained the importance of realistic goal setting and how to go about setting these goals. Most everyone wants to win a lot of money, however, if they do not plan appropriately the goal is just a pipedream. In the article, I gave you a sequential amount of steps to follow to set realistic goals.
Chapter 4 – “Swing For The Fences"
Chapter four was personally my favorite chapter. Everyone has dreams of making the big shot or being a champion. In this article, I taught you how to safely attack qualifier games to the much larger prize pools. Without a strategy, qualifiers can have a negative impact on your bankroll. Instead, we have put in place a strategy that allows you to chase live finals and the million dollar prize pools – all at a significant savings versus paying direct.
Chapter 5 – “Risk, We Talking About Risk?"
This is a chapter that you likely briefed through, as it seemed not as important as the rest. This couldn't be further from the truth. In this chapter we discussed the importance of understanding risk, minimizing risk, using risk to your advantage and understanding the impact it has on your bankroll.
I explained the impact on your bankroll of a player that seeks out risk versus a player that stays away from risk and the smart player that utilizes risk to create ownership flaws and upside.
This will be a segment I will discuss in the future, around the importance of utilizing high-risk plays to give yourself significant upside in tournaments.
I hope you enjoyed the first premium series here at Daily Fantasy Cafe. If there are any series you would like to be researched in the future do not hesitate to reach out to any Cafe members or myself.
Remember, bankroll management is a working tool that does not stop after you have completed the previously discussed tasks at once. The best are continuously changing their bankroll plans based on new information that they receive on a monthly basis. While you may not have the most advanced player algorithm or the biggest bankroll in the industry, you can work just as smart as the top players by following my strategies outlined in the chapters above.