Sports betting statistics will help you improve your results, study weaknesses and get clear guidelines. In this article, we'll break down three key metrics and how to calculate them: ROI, YIELD, and the break-even point.
Why accounting for statistical data is important
Why accounting for statistical data is important
If you're betting for fun and cheerleading emotions, you don't need to be strict about statistics. But even in this case, keep track of the lost amounts and winnings. You need to know this in order not to cause significant damage to your personal or family budget.
If you are going to make money on bets, then a good result requires the compilation of strict statistical reporting. Observe such rules and principles.
- Game strategy. Successful betting cannot be chaotic. Statistics of teams, sporting events, analysis of schedule and coefficients - only a systematic approach will ensure profit over a long distance.
- financial discipline. Cash investments must be strictly accounted for. You can not play all-in, make rash bets. Decide on the maximum allowable amounts or percentage from the bank.
- Strict accounting of each bet. Regularly write down what bets you make. Do not skip bets depending on their result.
- Consider the maximum amount of information about each event. For financial reporting, the most important thing is how much is won or lost from each bet. But you need to write down dates, tournament names, events, teams or athletes playing, type of bet, odds, exact scores, and so on. This will allow you to periodically analyze, draw conclusions, adjust the gaming and financial strategy.
Break even point in sports betting
The basic parameter for a novice player is the break-even point. This indicator represents the required percentage of winning bets to break even at a certain average odds.
Calculate the break-even point using the formula:
T = 100 / K, where K is the average coefficient.
For example, to break even at an average odd of 2.00, 50% of bets must win.
In this case, there can be no significant deviations from the level of the average coefficient. If they win a bet with quotes of 1.50, and lose with higher odds, then it will not work to reach zero.
The calculation of the break-even point is important in determining the betting strategy. You already know roughly what quotes you will bet on in the long run.
Your goal is the minimum percentage of winning bets, the number of which will give a profit.
ROI in sports betting: what is it and how to calculate it in the long run
ROI is an abbreviation of the English "return on investment" - "return on investment".
The rate of return on investment is the most important indicator if you treat betting as a business, and betting must be profitable.
Find ROI using the formula:
ROI = (P / B) x 100%, where P is net profit or loss, B is the initial bank.
For example, you replenished your gaming account with $10,000 and made 100 bets of $50 each. Let's say the net profit was $600.
ROI = (600 / 10,000) x 100% = 6%
But the result is not necessarily positive. You or another player may not win, but lose the same 600 dollars. Then we enter a negative number into the calculations and as a result we get ROI = -6%.
This is a conditional example, since 100 bets is not enough for a long-term investment. Most often, ROI calculations are indicative after 500-1000 calculated bets.
In the long run, ROI in sports betting ranges from -100% to positive without limit.
YIELD in rates: what is it and how to find it
In investments, the term "YIELD" means fluidity, production, return. Here, too, the percentage of profitability is calculated, but not from the initial pot. YIELD - return on staked money.
Determine YIELD by the formula:
YIELD = (P / S) x 100%, where NPC is net profit or loss; S is the amount of bets.
Here lies the difference from ROI, since it is not the initial bank that is taken into account, but the money actually put down.
For example, you made 20 bets of 100 dollars - put down 2000 dollars.
Net profit - 50 dollars.
YIELD = (50 / 2000) x 100% = 5%
YIELD shows the effectiveness of a gaming strategy in any segment. Even after making several bets, you can calculate your positive or negative YIELD, that is, the effectiveness of the scrolled amount.
Financial and sports statistics of sports betting consists of a large number of various parameters. Gradually, you will learn to take into account time periods, turnover of funds, the average bet size, the maximum allowable drawdown and much more. But start by calculating the break-even point and percentage of profit/loss on the total pot or staked amounts.