Oct 6th – Oct 12th
A crappy week. Started Tennis this week and after a great first day, it has been constant losses. Down $2200. NHL has also started but have had just 1 losing bet this week. Baseball is still in its play-offs so a few bets for another small loss. Missed Saturdays soccer so there wasn’t much turnover this week for that either.
I will need to get used to these sort of weeks, where i still need to do the work, but don’t get to see any results. I’m trying to view this just like day trading on the stock market and I am going to have bad days where the market crashes, but I know the maths is in my favour, so over the long run I will make my consistent 3-5% POT. What i wouldn’t give for an index fund type investment for betting. I have read before of someone in the UK who created a managed fund or trust that would bet on sports. I’m also aware of many dodgy horse racing based “funds” that will happily take your money and offer insane promises of ROI and then run away with your money.
I don’t know how professionals cope with long losing runs, luckily this still isn’t my major source of income, so if this fails I still have my normal income to fall back on. But to have to constantly worry would have to have an impact on your betting, at least early on. If you have been doing it for years then I’m sure you would be a lot more confident as you would have the stats to back up what you are doing. Anyway, enough of a rant from me, onto the stats.
Total loss for the week was 3319
Stats
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Total bet amount: $574,129.01
Profit/Loss: $31,975.00
POT: 5.6%
Bets Placed: 1,156
Won: 537
Lost: 568
Half Payout: 1
Refunded: 50
Winning %: 48.6%
Average Odds: 2.43
Average Win odds: 2.18
Average Losing odds: 2.63
Average Bet size: $495.79
Average win Bet size: $527.98
Average loss Bet size: $492.15
Profit per day: 31,975.00 / 104 = $307.45
Profit/Loss Graph:
Click on graph for large view
so one “bad” week, where you lost about $4-$5k and you are already thinking it’s not worth it, despite being up $30k+?
haha, good point. I think most people deal with loss much worse then gain. I expect my profits to increase all the time, which isn’t feasible. I have also had many worse weeks as can be seen by the graph. It went from 20k to 10k and back and down before it started its climb to 35k.
I don’t think i said it wasn’t worth it, I was trying to say that I can understand how hard it could be for someone trying to become a full time gambler to deal with losses. I did lose about 10% of my profit in a week, which is a fair chunk.
I think you are spot on about people struggling to cope with losses vs taking wins in your stride.