Welcome back to part 2 of our guide to sports betting for beginners. Go to part 1.
Stay Away From Accumulators
If you’re betting on sports you have heard at least one story about a guy who played a 10 fold accumulator, won the bet, and got something like 1000€ from his 5€ stakes. It’s basically the dream come true. The lucky day. Except that you only got to hear about this guy’s one successful bet and not about the countless bets before and after where one or more teams let him down. I get it, everyone likes these flashy accumulators, but you have to know that these bets get riskier with every game added to the betting slip. And as I already said in Part 1, teams choke and there’s absolutely no guarantee that the sure favorite won’t let you down.
At the end of the day everyone wants to win big from a 5€ stake, but you have to be incredibly lucky to pull that off and relying on luck isn’t a good strategy to make money with sports betting. Betting on singles only will drastically improve your chances to have a positive balance.
Track Your Betting
For most people, this isn’t a fun thing to do but I believe that it’s necessary to track the bets you place. You want to make a profit and you need to get data on how you’re actually doing with your betting. You can use online tools or you can create your own Excel spreadsheet for this.
I’m personally using the Betting Tracker Excel Worksheet by aussportsbetting.com
It gives you columns for date, bookmaker, sport, selection, bet type, tipster, event, score, stake, odds, and commission and automatically shows the potential payout and the actual profit. You can keep track of your available funds with different bookmakers and get a detailed performance summary that you can filter and sort as you see fit. There’s also an advanced version which lets you collect even more data on your betting endevours.
What is Yield?
Yield is the profit/loss ratio of the total amount staked.
Example: You staked 100€ during your bets in the last month. Your bank grew by 5€.
5 / 100 = 0,05
0,05 = 5%
You divide your net profit by the total amount of money staked and the result is your yield. A good bettor will have a yield between 5% and 10% in the long run.
What is Return on Investment (ROI)?
Return on Investment is the ratio of money gained or lost on an investment relative to the amount of money invested.
Example: You have a bankroll of 200€. Your initial deposit was 50€. This month you won 20€.
20 / 50 = 0,4
0,4 = 40%
Your Return on Investment for this month is 40%.
Note that ROI is always calculated for a fixed period of time. That may be monthly or annually.
Read more about definitions and formulas.
That’s it for Part 2 of our Sports Betting Guide for Beginners.