Return of investment or ROI is a term that arises from business life. ROI can also be applied well when betting on sports. So you are going to see how much return you get from all bets.
Bet Like a Pro
By looking at the return on all your investments, you get a better overview of what works and what doesn’t. By keeping a good record you can see at a glance which competitions and bets yield a profit.
Every pro will ignore bets that do not yield anything and try to eliminate errors using the data.
For example, if things keep going wrong with a Parlay bet, you will look for information about this method of betting and perhaps leave it out of your bets in the future.
How to Calculate an ROI?
You calculate an ROI by looking at how much you have invested and what you ultimately get from it. You will administer this per sport, per bet, but also all bets added up.
If you get odds of 1.4 with a bet of €10, then the ROI is 40% with a profit. If you bet a total of €1000, and you get paid €1050, you have an ROI of 5%. This is because €50 is 5% of €1000.
If you end up at a loss, then you also have a negative ROI.
How Are You Going to Keep Track of Everything?
Try to make an Excel file where you keep track of the following points.
- Date bet – So you can see weekly, monthly and annual results.
- Type of sport – This gives you an overview of which sport is profitable for you.
- Type of bet – This category is divided into 1×2, over/under, goalscorer, live betting, etc.
- Competition – Eredivisie, La Liga, PL, etc.
- Results – How much do you bet and how much does it yield.
You can now clearly see which periods, sports, bets, and competitions earn you money. You are going to expand your profitable bets and dispose of your loss-making ones.
Make It a Competition
It’s nice to set up a competition with friends to see who can achieve the highest ROI. You learn a lot from each other, and it will serve as motivation.
In any case, tracking ROI ensures that you can remove mistakes. You don’t want to be the one in your group of friends who has a negative ROI.
When Is ROI Reliable?
If you have placed 10 bets then you do not have to value the ROI yet. It could also have been bad luck or luck with a few bets.
After 300 bets you already get a better picture and the more you play, the more reliable the ROI becomes.
Is ROI the Most Important Thing in Betting?
No, ROI is only a small part of sports betting. It is important to see where your pitfalls lie. Other things to consider when betting are:
- Past statistics of teams
- Statistics of the last weeks
- Injuries and suspensions
- Home and away results
- Importance of the match
- Does a team have European commitments?
- Weather conditions
- Don’t bet with emotion
- Choose the best bookmaker (the one with the highest payouts)
- Select the right competition you know of
- Choose constant competitions
- Do not play combination bets
- Have good money management
- Play based on profitable bets from your ROI.
Boost ROI Through Bonuses
If you create an account with many bookmakers, you also benefit from various bonuses. Every bookmaker wants to bring you in as a customer, and therefore often gives away free money.
By using free money you can boost your ROI. Bonuses keep coming back in different forms at every bookmaker, and you really shouldn’t pass up this money.
Make sure that you can meet all the conditions regarding the release of bonuses. There is often an expiration date and an expired bonus would be a shame.