Record Keeping 12/18/11 (more...)

As most of the subscribers know who have been with me more than 1 year record keeping is essential in this business just like a conventional business. How the heck do you improve, set goals, budget; know when to raise your unit if you do not have detailed accurate records. It would be like operating a business and never producing financial statements.
Record keeping does not have to be some elaborate time consuming excel spreadsheet. You simply have to chart on a weekly basis (split by sport) total dollars bet, +/- net dollars, +/- net units, and R.O.I. (return on investment). I will go more in depth about this section in an upcoming Grapevine prior to the end of the year.
For those of you wanting to track along with us in 2012 and set up your admin system prior I can tell you 2011 will have had 53 weeks for our sports betting year. I track results obviously daily and then summarize on a weekly basis. I close off the weeks every Sunday night. So our first betting day for 2012 will start on Monday January 2.