Sports Betting Challenge

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Its no secret that over the last few months I have taken to sports betting like a duck to water.  I have always bet on sports, but not like this.  I used to throw $50-$100 on a selection to keep the game interesting, and to be honest I was probably down long term though I was never taking it too seriously.  That all changed at the start of this year.

Starting with a balance of $4k in my TAB account I have manged to grind this up to a little over $10K by the start of this week.  This has been by grinding out a total of 1208 bets with a ROI of 7.34%.  Initial research suggests that a profit of 7% is cosidered good in this caper so I guess I am running a little better than expected - only time will tell.

An old mate from high school recently developed an "Engine" for the NHL and MLB, and we have been testing it out together, making adjustments to the prediction formula, as well as Investing in a Handicapping Service for American Sports and we have come up with a somewhat successful (so far) selection criteria for placing our bets.  We have made mistakes and will continue to, but like anything else this will happen, and as long as you learn from them you do ok.

To the end of April I had the following ROI's:

Tennis         +17.13%Soccer           +3.45%AFL              +40.19%NBA             +21.39%NHL             -10.03%NRL              +0.90%Union           -11.52%MLB               -0.82%

THE CHALLENGE

Ultimately, the challenge is 10F10 - 10 fold in 10 months - so what started this past Monday is due to finish on 10 March 2011.

At the start of each week the average bet size is to be adjusted to 0.80% of the current roll (Currently $80) - to ensure solid Bankroll Management Technique.  On average I place 110 bets per week, though this is not a goal as there needs to be solid grounds for a bet to placed, and I dont want to get into a situation where I am making a bet to hit my budget.  At these levels I need to achieve a ROI of 6.25% consistently to hit my target.

I intend to use this blog as a means of tracking the hopeful success of this project, and from time to time provide some value tips that I come across.