Winning at sports betting has to be a long game. Anyone who enters this world hoping for rapid gains is likely to be left very disappointed. It is much better to take a long-term view and show a lot of patience.
People who like to bet on their favorite sports like to talk about return on investment or ROI for short. It is hard to put a firm figure on what might be considered to be a good ROI in sports betting. Everyone has their idea in their head of a number they want to aim for. Here is our complete betting guide to ROI in sports betting.
How Do You Calculate ROI?
Working out ROI when betting on sports is relatively simple. But for newcomers, it can be hard to get your head around all the numbers. We are here to help with this.
ROI is simply the gap between how much is spent on sports betting and how much is returned in winnings. So, let’s say that you bet 100 in your chosen currency. Your returns stand at 110, meaning that the ROI would be at the 10 percent mark. After a while, working out ROI for your sports bets will come to be second nature. What makes it even easier is that bookmakers show your potential profit when you come to place a bet. What this means is that you can see the ROI of each winning wager as soon as you are ready to place the bet.
Why does ROI matter in sports betting?
As long as making a consistent profit is your goal, ROI is one of the key metrics you should be following. When betting on sports, it is always important to find the best value possible. What this could involve is shopping around for the top value on a particular bet that you want to back. It might not seem like a big difference between odds of 6/4 and a price of 7/4, but it mounts up quickly. If you are placing a lot of different bets, then you will soon see the difference between taking the top odds and not doing so.
ROI is one of the critical terms for anyone serious about trying to make a living out of sports betting. A career such as this is becoming increasingly popular, with many people dreaming of being able to bet on sports professionally.
What Is Considered A Decent ROI In Sports Betting?
So with all that information taken into account, what ROI should people be aiming for in sports betting? Well, it depends on how ambitious you want to be. However, it can be better to set more modest goals that are easier to achieve. Targets can then always be increased later on, so there are no downsides to starting small. As a guide, five percent ROI is a decent opening gambit.
If you were to bet 1000 of your chosen currency over a particular period, this would return a total of 50. It might not sound like a lot, but this is still profit. And five percent is higher than a lot of savings accounts pay in interest! Anyone who can achieve around 10 percent ROI – or even higher – is doing brilliantly with their sports bets. Keep in mind that the more you bet, if you have a decent ROI, this means you will be bringing in more profit too!