Submitted by rsteel on
The last sports betting day for this year will be next Sunday January 3rd. We close off every week on Sunday nights. January 3rd will be the last day of week 52 for 2015. 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 very 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 and cash flows nor should you 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 called record keeping.
2015 was a below minimum expectation year. Our expected ROI on a yearly basis is between 3-7%. This year with 1 week to go we sit at 0.372%. On the high side we had an excellent NCAAB season but on the low side and what caused our lower than usual return was a very disappointing MLB season. Volume was down and we actually had a losing season; just the 2nd in 21 years for MLB. I very much look forward to a bounce back year in that sport for 2016; usually my strongest sport.
We were grinding along and on schedule to be within our 3-7% range until mid-November. The last 6 weeks have sucked no sugar coating it. We are having our worst NFL season in 21 years combined with a bad start to the NBA season has really depressed results.
The good news nothing has fundamentally changed in the marketplace. This fluctuation is just that a blip and I am fully expecting for 2016 MLB NFL and NBA to revert back based on law of averages and regression to the mean.
I would like to tell you that each year is the same and your bankroll and profits will grow in a straight line. That would be lying. Every year is different but the finish line most years profitable and within our ROI range. Some years we get off to fast starts and then go sideways, other years we are in a loss position past the half way point before we turn the corner.
So set up your 2016 admin system and follow along with me. Your results should be very similar to mine. The ONLY way they are not is 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 2016 with massive profits!