May 15, 2020

How To Measure Success

How To Measure Success As A Successful Punter

What is most important in measuring your betting success.

Which of the following punters betting performance will lead to the largest increase of betting bank growth?

 

Punter A – 10% profit on turnover; or

Punter B – 25% profit on turnover

 

Most would answer Punter B without considering the additional information that you need to be able to make an informed decision.

 

Now we are provided with the following information:

 

Bank

Bets

Average Bet Size

Outlay

POT %

Profit $

Punter A

£ 10,000

700

£ 200

£ 140,000

10%

£ 14,000

Punter B

£ 10,000

200

£ 200

£ 40,000

25%

£ 10,000

 

So what is the correct question and answer?

 

How much money did each punter make?

 

From the above table we quickly learn that the most important answer to this type of question is to know the actual dollars profit made not what the POT % is.

 

Measure your betting success by focusing on betting bank growth

The formula for calculating your betting bank growth ratio is:

 

Your Profit $ / Starting Bank $ = Betting Bank Growth Ratio

 

So referencing the above table you will be able to calculate that:

 

Punter A – £14,000 profit that is equal to a ratio of 1.4 x growth

 

Punter B – £10,000 profit that is equal to a ratio of 1.0 x growth

 

Using this method of measuring your betting success highlights that Punter A is more successful by generating £4,000 or 40% more profit than Punter B.

 

Key points:

  • Focus on betting bank growth as the correct measure of your betting success and;
  • Understand that an effective betting strategy is one that delivers a balance between the volume of bets you have and your betting edge over the marketplace (your expected profit on each dollar wagered)