A Quick Review of Sports Investing
Portfolio Management
When investing in sports a detailed portfolio is key to maintaining and building your bankroll. While operationally, your portfolio is not literally making you money on your sports investment bets, but keeping a detailed log of your bets and per game allocation is critical in the evolution of your bankroll.
Starting Point:
Keeping a portfolio could be as complicated as any other stock market portfolio out there. But, it does not need to be complicated in scope for sports investing. Here is an example of an NFL Preseason Portfolio provided by www.NFLChoice.com
As you see, it begins with keeping a detailed log of each bet in a spreadsheet, detailing your wager amounts, wager dates, game, and result. Make sure you subtract the vig (juice) from your losses, unless it's a SU wager on an underdog (ex: Titans SU +255). All of these categories of your portfolio are extremely important and here is why:
Wager Amounts: When you invest in sports, the key is to be consistent with your wagering amounts, placing the same wager on each game, and gradually your bankroll is going to increase. Once your bankroll has at least doubled, at that point you increase your per game allocation, and this process is continual over time. Keeping track of your wager amounts ensures that you properly wager your games correctly within the basic rules of sports investing.
Wager Dates: It is important that you have a timeline for all of your wagering and sports investing activity. Logging the dates of your bets can give you accurate detail of your sports investing progress and track your increase over time. Time logs are critical for next year's sports investment portfolio as it will give you a detailed guide on your progress and you can get an accurate estimate of how long it will take for you to reach your sports investing goal.
Game Detail: Tracking your game detail is critical in assessing your strengths and weaknesses with certain teams, divisions, conferences, etc. It's a fact that sports investors often ride winning streaks on certain teams and often shy away from losing streaks with other teams. Further, over time you want to research your game logs to see the value from previous seasons and game matchups. Doing a quick search in your spreadsheet can highlight a previous result with a certain team for a game you are considering down the road. It is imperative that you track game detail so you can profit from particular teams, games, and matchups in the future.
Results: On Sunday, before noon, place your sports investment bets and go ahead and log them in your spreadsheet in your game detail (ex: Chargers -6.5, Skins +4, Colts -12, Browns SU +325). At the end of the day, make sure to log your winnings or losses for these games:
Chargers -6.5 ; Loss = -1100
Skins +4 ; Win = +1000
Colts -12 ; Loss = -1100
Browns SU +325 ; Win = +3,250
As you see, tracking this result detail will allow you to keep track of your bankroll progress. In this particular example, your net profit for the day is $2050. Tracking your short term and long term success is vital to your portfolio management.
Keep Different Sports Separate:
We understand that you may bet on many games across the board on a given day, and were not trying to stop you. Just make sure to track each particular sports on a different workbook within your spreadsheet. This way, you can see detailed progress or lack there of in each sport. You may find significant shortcomings in baseball, while excelling in football. Keeping track of each sport in a separate spreadsheet is vitally important in assessing strengths and weaknesses within your overall portfolio. Make sure to stay tuned for a detailed look at "Strengths and Weaknesses in Sports Investing" in the following weeks.
Summary:
As you see above, it's extremely valuable that you keep a detailed portfolio of all your wagers across time so you progress positively with your sports investing. Keep in mind this does take time to do, and you will have to be meticulous in this if you want to be successful in sports investing. Nothing comes easy, but with a time and work, you can make a killing from sports investing every year.
Don't Have the Time to Invest in Sports?
Another option you have is letting a Professional Sports Investing Company manage all of this for you. Since this is a somewhat new type of sports betting management, there are few reliable Sports Investing Companies out there. But, the following sports investing companies have been doing this since 1996. All you have to do is sign up with one of their packages for a small fee up front. There are no other fees included or percentages expected. They maintain portfolios for all of their investment picks and you will have access to investment picks every single day and they have a performance guarantee.
The best thing is, all you have to do is sit back, bet their investment picks they give you, and watch your money grow week after week. It's simple, easy, and extremely profitable. Your Sports Investing Advisors will do all of the work for you that you simply do not have time for.
Check out their very affordable Sports Investment Packages that are backed by a performance guarantee:
article by www.NFLChoice.com staff
