How to control your sports betting ROI?
As in the case of an economic investment, engaging in sports betting is an initiative that can be risky. Indeed, the prognosticator bets on a team or its champion hoping that his prediction is accurate so that he can make a profit. Specifically, with sports betting, it is possible to make an analysis in order to see how well the game is performing. With this in mind, ROI is considered an important indicator in betting activities. What is ROI in sports betting and how can you optimize yours? These are the essential questions that this article will answer.
Understanding the real meaning of ROI in sports betting
To begin with, ROI is actually an acronym that stands for Return On Investment. The French translation of this expression means return on investment. It is a concept generally applied in the economic sector. In the context of sports betting, the ROI is the tool that allows to quantify the profit of a prognosticator. In other words, with this indicator, you can immediately know if your investment in betting activities has generated profits or not.
The main objective of a bettor is to make as many winning predictions as possible in order to win. Thus, to achieve this performance in sports betting, the ROI indicates the ratio between the overall amount of bets made by a bettor and the profit made by the latter. Expressed as a percentage, it is a very important indicator to assess the level of profitability in betting over a given period.
How to determine the ROI in sports betting?
It is very convenient to know your return on investment with sports betting. If some bettors prefer to use online tools, others prefer to make the calculation themselves in order to obtain much more convincing results. So, to determine your ROI in sports betting, you should use the following formula:
ROI = (Profit / total stake) * 100
To illustrate this, here is an example of a tipster who bets an amount of 35 euros on 10 bets, i.e. a total of 350 euros, with a coast of 1.9 for each prediction. Of the 10 predictions, 7 turn out to be winners at the end of all the matches. So, with this exercise, in order to determine the ROI on the sports bets of this player, we must first determine the profit he has made. Thus, we have:
Profit = Number of successful bets * (odds for each bet * amount of each prediction) - total amount bet
In the case of the prognosticator used as an example, the benefit corresponding to:
Profit = 7*(1.9*35)-350 = 115.5 euros
Once this initial data is obtained, it is now possible to determine the return on investment of the bettor concerned.
ROI = (115,5/350)*100 = 33 %
The return on investment for the bettor is therefore 33%. However, although the likelihood of a bettor betting on multiple odds that are all the same is low, this example is meant to better illustrate the procedure for determining ROI in sports betting. Also, since the ROI is determined over a period of time, it is quite possible that you will have to use much larger data. You must then master the use of the formula to get more convincing results.
Conclusions to be drawn after calculating your sports betting ROI
There are two types of results after calculating the return on investment of a sports betting tipster. You can find either a positive result or a negative result. In this respect, as mentioned earlier, the ROI allows you to see the level of profitability of your betting. Thus, in the case of a positive result, you can simply conclude that you are making a profit in sports betting. Furthermore, the higher the percentage of your ROI, the more profits you can make.
On the other hand, if you get a negative result after calculating your sports betting ROI, it means that your losses in the games are much higher than your winnings. At the same time, the higher the negative percentage, the greater the losses the bettor has incurred. It is therefore urgent that steps be taken to improve the level of profitability.
How to optimize your sports betting ROI?
It is possible to increase your profitability level in sports betting by improving your ROI. To do this, you need to rely on the results obtained after the calculation of the indicator. So, to optimize your sports betting ROI, you should start by betting on sports that you are familiar with. The same goes for the competitions or championships that you should bet on. In this regard, the biggest secret of the best bettors is the ability to find out the statistics of their favorite teams. This takes into account several aspects such as the availability of this or that player for a match, the stadium on which the match is to take place, and even the fitness of the whole team as a whole.
On another note, it should be noted that there are several forms of sports betting today. Betting on an option that you know the contours of is one of the best ways to increase your chances of winning the vast majority of your bets. Also from this same perspective, it is recommended that you stop betting, when you have reached your limit for the day. In other words, you should set a financial limit for yourself when it comes to online betting. And so, keeping control of your bankroll is also an effective way to boost your return on investment in sports betting and limit losses.
