RE: What is a good ROI for a sports bettor?
Did you write this the same time I was writing mine ? spooky ! lol :-)
I agree with keeping a trading / betting journal, just the figure at the bottom doesn't tell you the whole story. For instance, I never trade on Mondays because there is a probability for me that I'll lose 76% of my trades on that day. It could be for many reasons, too eager from the weekend, wanting to start the week with big wins, who knows ? It's just the worst day for me so I put the odds in my favour and don't trade Mondays.
I did an article way back about the mathematics of winning, how it's perfectly normal to have a win rate of less than 50% and still make a good profit. People are obsessed with always being 'right', instead of 'profitable'.
I'm sure you won't mind me linking it, it's an old post anway so no votes.
https://steemit.com/trading/@tradergurl/the-formula-for-success-it-s-literally-a-formula
It's about trading and uses trading language, but just about everything I write about also applies to betting (just another form of trading !)
To be honest you did inspire me for writing this post!
But what you do write is true, there are a lot of similarities between trading and sports betting. You do the math and hope that it was correct! And place the bet or the purchase order!
In sportsbetting more luck is involved than with trading!
I do like all the articles you write about trading, I do learn a lot of them!
Most of my trading relies heavily on maths, but it's the same for gambling.
If you know that historically a particular football team always wins when playing home ground 86% of the time, it makes good sense to bet on that team when they're playing at home...
Most people regard gambling as a fools game, but even though I'm not a gambler I can see it's possible to put the odds in your favour and make a good living from it.