Australians Matt Elliott and Jess Kirley, at http://www.puntingace.com have been investing together professionally on sports for over 3 years now. They continue to lead the industry with innovative approaches to sports betting and their reputation among their peers is testament to that.
I truly believe, that many punters think, that this punting game is a competition, where plaques, certificates and smiley faces are awarded to those with the best win strike rates and profit on turnover figures.
Yes, OK, congratulations. Look, missing a good bet is as bad as making a bad bet. I shall repeat this once more. Yes, bring your POT down! How many good bets do you think you are missing, if you wait all year, and make only 12 bets, but you have 80% POT? You are making money on those 12 bets only. . Reading this one article may make $1,000′s of dollars of difference to your bottom line over the course of a year. . . There is little excuse for either. After all, the goal is to back plenty of winners, isn’t it? Well, yes and no.
Tell me why I should turn my back on a positive expectation bet, regardless of the return? Maybe I should not make the bet, because I may damage my strike rate, or may lower my POT, and as a result, won’t sound as good when I brag to my mates. Visit http://www.puntingace.com to discover how you too can turn your hobby of betting into a profitable endeavour.
If you achieve high POT figures, you are telling me three things:
Generally, that is what I hear, when I open my mouth about this subject. You have had, maybe, a couple of dozen bets at most,
WHO CARES how many winning teams you backed, or how many horses you backed, which were first past the post?
About The Author
For those who disagree, I ask the following:
I mean, really, WHO CARES if you have a POT of 30%, 60% or even more?
How Much Money COULD He Have Made?
There Is No Such Thing As The Gambling Olympics!
by: Jess Kirley
I often become bewildered when I hear of people bragging, because they have high strike rates and/or high profit-on-turnover figures (POT). They take a very mathematical approach to their betting, and liken it more trading a commosity like stocks than actual gambling.
The Aim Of The Game Is To MAKE MONEY.
Yes, before you wipe your writing pad out to type me a letter of disgust at my arrogance, I admit that I am being a little hard-lined on this one. Leave the bragging and high turnover figures to the ‘heroes’
1. RUBBISH! There is no such thing as the gambling Olympics; you are not going to get an award for having the best POT figures or strike rates.
How Much Money Did You Make?
3. Give yourself a pat on the back; you are making money. We all do both, but hopefully we don’t make that same mistakes twice. Well, actually, if your strike rate on the Soccer was 73%, this certainly does not guarantee that you are showing a profit. firstname.lastname@example.org
This article was posted on August 12, 2005
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“What Do You Bloody Mean That I Could Be Doing Better? You Tell Me How Many Other Punters Can Achieve 90% POT?”
Whenever I try to explain this to a punter down at the pub, they think I am totally insane. .’The difference between your edge and your expectation’ follows on from this concept. You are not making as much money as you could be.
Is the goal to simply make money, or is it to make as much money as we can, given our current resources (time, starting bank, knowledge, etc.)? I realize that it sounds like I am being a little greedy, but come on, admit it, we all want great, big, fat, consistent profits from our betting, don’t we?
If you are achieving an average return on each bet of more than 20% or 30%, I believe you need to rework your approach, and do a little work to get that POT back down a little by making the smaller positive expectation bets. OK, fair enough, you may make those bets quite large in relation to your bankroll, but bear in mind, you may be able to make two, three, ten or even more times the amount you are making now by taking those smaller edges.
It seems to me, that many punters seem to turn a blind eye to one and only real measure of how well you performed . You are way too selective with your selections, but most importantly,
The article . You know the ‘my strike rate on the Soccer is 73%’ or ‘my POT on the gallops is 90%’.
Maybe I am the odd one out, but every time I hear somebody spruiking, that they make an excessive POT of say 20% or more, the first thought that pops into my head is certainly not, ‘Gee, that bloke really must know what he is doing, what a legend!’, but more along the lines of;
Remember, it is not how many winners you back, but how much money you make