Submitted by rsteel on
The last sports betting day for this year will be today Sunday January 1. We close off every week on Sunday nights. Today will be the last day of week 52 for 2016. 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 a regular 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) and +/- units. 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 can search on my website called record keeping.
2016 saw us have a very decent MLB season. On the opposite end of the spectrum we had a historically bad NBA season. What could go wrong simply did. I very much anticipate a bounce back this season in that sport and that has already begun early on. Volume of bets is never our primary focus value is and always will be. However volume was lighter in 2016 and for 2017 I anticipate it will be about the same or slightly higher.
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 3-7%. 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.
So set up your 2017 admin system and follow along with me. Your results should be very similar to mine. The ONLY way they are 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 in order to diversify your risk.
Patience, proper money management, discipline and shopping are the keys to long term success.
Let us take this journey together and have a great 2017 with massive profits!