Submitted by rsteel on
I would assume I speak for all of us to state that 2020 both personally and sports betting professionally was challenging to say the least. The first 3 months started “normal “enough although we were showing a small loss by the end of March. We were then forced into a 4 month pause. As the lights came back on activity and sports leagues picked up we hit a nice groove.
I know the official calendar does not change to 2021 yet however since we close off our weeks on Sunday for betting record keeping purposes Monday December 28th will be day 1 week 1 of our 2021 sports year.
Despite all the curves roadblocks challenges thrown at us it was a profitable 2020 sports betting year. Our return on investment (ROI) came in at 2.117%. In over 20 years of doing this an average ROI expectancy is 3-5%. So we come in at slightly below minimum expectations but given the challenges in society this year well NO excuses it is what it is a profit.
So today will be the last day of week 52 for 2020. We track our overall stats as well as the same stats broken down for each individual sport. The overall stats are closed off and started anew every calendar year while the individual sports stats are closed off when that sport ends for a particular season.
Bookkeeping is important to your success in this business. You need to be able to tell where you are doing well and where improvement is needed. Administration takes me 5 minutes on any given day and 10 minutes on a Sunday. It is really not that big a deal. You would not operate a conventional business without financial statements cash flows etc. nor should you in this business.
For each individual sport and overall you should track $’s risked, profit/loss, return on investment (ROI) +/- units and closing line value (CLV). If you are unsure of any of these calculations or how to do this you can contact me or refer to a detailed Grapevine/you tube video you can search called record keeping. If anyone has any questions about record keeping feel free to contact me.
Volume of bets is never our primary focus value is and always will be. However in a perfect world large volume with value is ideal.
I would like to tell you that each year is the same and your bankroll and profits will grow in a straight line. However that would be a lie. Every year is different but the finish line most years profitable within an ROI range of 3-5%. Some years we get off to fast starts than go sideways, other years we are in a loss position past the half way point before we turn the corner.
MLB our most important sport based on volume continues to be a work in progress given the changes the way the game is being played. More emphasis on the long ball; strike outs, moving runners, stealing bases all have become secondary. Openers and starters going no more than 6 innings adjustments in handicapping continue to be made.
So set up your 2021 admin system and follow along with me. Your results should be very similar to mine. The ONLY way it is not if you miss plays or do not effectively shop at enough sports books to get the best line possible. Regardless of the dollar size of your unit you should be dealing with at least 3 sports books preferably more in order to diversify your risk.
Do not forget to download the 2021 version of the app in order to continue receiving the picks. This will be available in the app stores shortly I will let you know when.
Patience, proper money management, discipline and shopping are the keys to long term success.
Just because the calendar changes from 2020 to 2021 we all know the virus does not just disappear or any bad habits you need to correct in your business suddenly stops. There is always challenges ups and downs more in some years than others. Regardless stay focused continue to improve adapt self-evaluate. How you handle the ups and downs goes a long way to determining your level of success.
Let us take this journey together and have a great 2021 with massive profits.