Thursday, November 1, 2007

Well, that didn't go so well. Let's review the numbers for the season. Due to bad typing, I lost a couple of bets along the way, but the stats below are pretty darn close.

I made about 530 pretend bets since June 7th, at an average of about $4.50 each. The bets totaled around $2400.

About 315 of the bets ended up losing. Those bets averaged about $4.60 each for a total of about $1450 in losses.

About 215 of the bets were winners. Those bets averaged about $4.43 each. Since most of those bets were on underdogs, they paid pretty well, yielding about $1422 in winnings.

So, by winning $1422 and losing $1450, I ended up down about $32 after 530 virtual bets.

I can take several positive things away from this:

1) I placed $2400 in bets and lost $32. That's less than a 1.5% loss of the total bet amount. My software does not have far to go to turn the corner to profitability.

2) This was my first season doing this. My software got better as the season went on and there are still improvements that I can and will make.

3) I made my bets using Bodog.com odds. I picked that casino not because they were the best, but because they seemed offer typical odds. However, "typical" in this case meant that their odds took a 10% cut of every winning bet. Had I chosen a casino that only took 5% of every winner, then I would have won $1486, yielding a profit of $36 instead of a loss of $32. Some casinos take even less than that. A buddy of mine used my data to place bets with a casino that offered great odds. His bankroll started at $100 and ended up at about $150.

4) First game of the 2008 season is 5 months away. I'll be back and I intend to be profitable.

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