I wrote last week about how we should be planning how to improve our betting if not even attempting to create a sizable second income from it. If you missed it it’s worth checking out here.
Onto today then and I thought I’d go through how to manage a portfolio or if you’re going to follow my advice from the above article how you will look to manage your portfolio in the future.
The first thing we need to do is to work out how many angles we will be using and how many bets this will likely give us on any given day. For example my portfolio gives me anywhere between 2 and 15 bets a day. My portfolio consists of 8 angles that I use. I have a database that gives me my selections the afternoon before the next day’s racing and then I spend that afternoon going through each selection to check that everything is based on logic and sound reasoning.
Each angle has a specified bank and I know to what percentage I will be betting for each selection depending on a series of variables. I have set out a table of how I record each bet as you’ll see below:
As you can see I keep a tab of all my bets and in the column on the far left I have assigned a number that corresponds to the system. This way after 100 bets I can simply filter that number and it will tell me whether or not the system is performing as expected. If it isn’t I can then go through all the bets and asses whether I have missed something or it’s just been going through an expected losing run.
You should be keeping records of all your bets and the above spreadsheet is simple to update everyday. You can also check to see if you are beating the SP because if you are then you are on the right course to be making a profit. If that doesn’t make sense then you can read an article I wrote last year about beating the SP and how it must be one of your prime objectives. Click Here.
So going back to last weeks article which you can read with the link above, you’ve now got a simple spreadsheet that can help you to record your first step in becoming a profitable bettor. You will need to update this as you would with any business and next week I’ll show you how to break other important factors down in order to help you find out what’s working and what’s not.
Back next week with more tips and until then have a great week and enjoy your punting.