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Calculating ROI (return on investment) will help you to use this tool and turn your sports betting gamble into an investment.
How much money can you realistically earn from betting on the horses?
This is a question frequently on the lips of novice punters and the answer lies in how much you can afford to invest.
The crucial point is to see yourself as a professional bettor where your time and money are viewed as an investment. Thus the more you can invest the greater your return and it is important to have some idea of your likely return on investment.
Obtaining good odds for your bets is also crucial in maximising the chance of making a profit over time.
So how do we calculate ROI? The maths involved is really quite simple and anyone can do it.
Supposing we were to place £100 in bets over the course of a week and realise a profit of £35 overall. We then divide 35 by 100 which equals 0.35 and then multiply this by 100 to give the percentage 35%.
Thus our ROI for the week’s betting is 35%. Obviously when assessing the merits of our betting strategy we would want to obtain the ROI over a much longer period - 3 months would be a minimum.
There are two types of professional bettors - the one who studies form and specializes in one or more areas of betting and the other uses technology to gain an edge in the market.
The form student will start the day by identifying potential bets in his specialist area and then spend time assessing the form. This will result in a small number of bets for the day on which he can expect to see a return of between 20% - 40%. His bank will need to be large in order to make a decent return.
The other type of bettor who relies on computer technology uses it to analyse large data sets which then feed the information into betting bots to place the bets at great speed.
These systems usually find a much greater number of bets per day and in consequence the stakes will be smaller and will only make between 5% - 7% return on investment.
Whichever method you use the crucial factor is the long term return. Say we use a tipster who produces an average return of 20% from 100 selections per month at a cost of £50.
If we were to place £10 on each selection we would expect a profit of £200 less the tipster fee of £50 to give a total profit of £150.
Armed with these figures we stand a much better chance of winning the battle against the bookies.