$50,000 profit reached

After 513 days I have reached my first real milestone. $50,000 profit. A small profit on the U45 in the MIA v DAL NFL game managed to push me over the line. Happy Thanksgiving indeed.

Many lessons have been learnt over the last 513 days and I’m sure there will be many more to come, but I feel I have learnt a fair bit and my mistakes have made this goal take twice as long as it should have. These mistakes (staking size, following wrong services, so on) will be minimised into the future and although the bank size and betting amount will remain the same, I’m of the belief that the next $50,000 wont take anywhere near as long as the first $50,000.

The next major goal is $100,000 and at that time I will have very strong confidence in this endeavour and start upping my stakes in relation to how I feel each model is going. Some very exciting times ahead.

In saying all this, I have hit new highs before and each time they have been followed by a sudden fall. So I do understand this may be a fleeting moment, but I’m going to enjoy it for this weekend at least.

Just a note to people who believe betting on sports is a nice easy quick way to make some money, it clearly isn’t. I have spent over a year and a half placing bets at fairly high stakes (average bet size $436). It is not easy and the highs and lows can have a real impact on your life. I feel I have the right mindset to ride the ups and downs of this and now with a little knowledge (I know they say a little knowledge is a dangerous thing) behind me to continue to make some decent profits from this. It’s still only a part time thing, but if 2012 can match my expectations, then this time next year might see me going full-time.

So far it’s been a fun ride.

Major thanks go to Sportpunter. I have used most of Jonnos models and they have provided $85,309 profit so far. I wish I had followed nothing but Sportpunter picks but I need to diversify and the new additions are starting to look good.