Sports betting is considered a good, easy way of earning money.
People think everything you need to do is to love sports, watch them on a regular base and enjoy matches. That sounds simple, but in reality winning, especially winning on a regular base, is complicated. It requires more than pure luck and enjoyment in sports events. To be a successful gambler, you need to do permanent research.
Use statistical tools and methodical approaches in seeking value bets, those that could pay. Although people think, with sports betting, bettors bet just on sure things, you need to know that out there, on the market, there is nothing sure.
When winning over 50% of your bets, you can be considered as a successful gambler, but to talk about your real returns and payments, you need to have more indicators. Sometimes, gamblers pick on sports events can provide you a higher return than your investments on the stock market.
Variances from season to season are not unusual, but they are not unusual for investments on the stock market, too. For example, remind yourself of 2008 or 2009. Global financial crises and their impacts on every single industry, which includes short term and long-term results on investments in the stock market.
Whether you have a diversifying portfolio, or you prefer one certain industry, you could feel an enormous impact of financial crises on your returns. The situation with sports betting is not very different from the ones with stock markets.
You have good and bad seasons, and you can expect difficulties everywhere.
However, many experienced, successful sports gamblers say that in the long run, their edge is far greater than the edge that you could hope to gain in any other speculative market.
With those indicators that are not that hard to calculate, and those that are very often used in financial analyses and usually presented in reports of financial sectors in different companies, ROI (Return on investment) is one of the most useful ones.
ROI shows how many dollars you get for every dollar you bet. ROI is presented as a percentage (10%, -10%, -5%, 5%, and so on). If you have a positive ROI, it means you are profitable. If you have a negative ROI, it means that your little project didn’t perform well and you lost money.
ROI is measured when you divide your profit/return by the cost of your investment.
You bet on 10 games, every one of them 100$ and your return is 205$. That means that your ROI is (205/1000)x100 and the result is 20,5%. It’s very important to add that someone can have a very good percentage of bets he won, but still very low or negative ROI, than the one with a lower percentage of bets he won.
The number of wins and losses is important for teams that play, but not for you as a gambler. Every positive ROI is good for you. That means that are earning something. In the long term, you are expected to have lower ROI, because it is easy to be successful in gambling in the short term.
Someone with an ROI of 2% after 3000 can be considered a more successful bettor than the one with an ROI of 20% and 300 bets. In the long-term, with a huge number of bets (thousands of them), 5% to 10% is achievable.