Submitted by rsteel on
We have reached the end of the first quarter of 2012. It has been a very successful start to our year as we enter the marathon called Major League Baseball. Our R.O.I. presently sits at 11.087%. For those of you not familiar R.O.I. stands for Return on Investment. This statistic along with +/- units and +/- $ is essential to track for your records on a weekly basis. It should be split by sport and overall.
To calculate R.O.I. you simply take the total dollars that you bet and divide it by your profit/loss. Over 20+ years of doing this our R.O.I. will average between 3-7%. From year to year of course this will vary and on occasion we will have an extreme result. For example in 2009 we ended the year with a whooping R.O.I. of 11.023%. That was a record that I hope one year I will be able to break. On the other end of the spectrum just last year we had an R.O.I. of 0.024% virtually a break-even year. So you just do not know from year to year. What I can say is I have not had a losing year overall in over 10+ years.
Record keeping literally takes me less than 5 minutes per day and 10 minutes on Sundays when I close off each week. There are no excuses for not doing it. If you are not record keeping you need to start. Without record keeping you cannot even call this a hobby it certainly is not a business it is simply entertainment which is OK if that is what you want.
If anyone has any questions about record keeping or how and what to track do not hesitate to contact.
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