Quote:
Originally Posted by Inzaghi
I'm a sports betting noob so don't take my word as gospel but my interpretation of ROI is:
It's a useful measure only in so far as it establishes that you're a +EV bettor.
Once this has been established, the only thing that matters is profitability in dollar terms. Ask yourself, not what the ROI% is, but how much can i bet on something? And how much will it make me in dollar terms?
E.g. If you find a prop bet which you believe has 10% ROI, but you can only bet $400 on it (due to limits etc), that opportunity isn't anything like as attractive as a bet with only 3% ROI but a $10,000 limit.
Also, the only reason you might track ROI is to check that it isn't getting too high. But if you're fully investing your roll weekly or even daily (using kelly criterion), even this seems pointless.
One of the regulars can correct me if the above is rubbish.
U seem to show the concept of expected value/expected ROI, i'm speaking in terms of the ROI i turn as a long term result.
Of course i track wins/losses, profit, $ invested, $ returned, etc etc. but for example
If on an NFL season let's call it A of 16 games and etc i found 85 plays, risked 60k$ over the season and profited 5k$ which is roughly an 8% ROI
and the next season let's call it B i found 100 plays, risked 95k$ over the season and profited 6k$ which is roughly a 6% ROI
I would still consider season A a better season cuz my return per dollar invested is 8c over 6c for season B. I do understand that u make more cash in situation B, but it's just because i found more plays in season B, but i still fared worse. If i had been as accurate in season B as i was in season B, I'd have done near 8k$ profit at the end of the year. 8c to the dollar is always going to be better on the long run than 6c to the dollar.
I can agree that if u find more plays, win less cents per $ but put far more sample than another person(find more plays to bet) u can make more $ in the same amount of time on the same time period, i'm not going to go against that obv but if u risk more $ per day u need a bigger roll, or ur bet sizing will be lower, and ur $ swings will normally be bigger.
for example, in my scenarios, i risked 3.5k per football weekend in season A while i risked 5.5k per football weekend in season B. therefore if u'd split the 5.5k risked on plays in season B on the plays u made in season A u'd have made more profit at the end of the year...