OK, so the three picks went 3 for 3 (BAL vs TOR, DET vs KC, and ARI vs CHC)
This brings my results to the following:
Number of Qualifying Picks: 18
Number of Wins: 16
Total Amount Bet: $ 547.11
Total Profit/Loss: -$115.84 (-21.17%)
Silkbc’s Weblog
Just another WordPress.com weblog
-
Recent Comments
August 12, 2008 at 11:29 am |
why was the profit/loss in minus fugures if you won 16 out of 18 ?
August 12, 2008 at 12:07 pm |
Ace: Because a loss on the system is a much bigger hit than a win. When you “win”, you make around 2/3 units profit (e.g., you are looking to make $10 profit, but need to wager around $15* to do so… initially)
*The amount you need to wager depends on the odds being offered… you are looking to make a specific profit each time, and one time may only need to wager $15 to make it, another time you need to wager $13, and yet another time, you may need to wager $20! The “Units” mentioned is in relation to the initial amount wagered, and is a different amount each time (based on how much profit you want)
When you lose, you are chasing your bets to get that $10 profit, and if you lose all three games of the series then your loss amounts to something more like 8-10 units.
So if you built up a nice profit through the season, as soon as your first loss hits, it could easily wipe out most, if not all, of the profits you made.
That’s why the system needs such a high strike rate.
This is not a system for the feint of heart, nor one I would recommend if you want to make a significant income.
Actually, one of the most recent series, which went to the 3rd game of the series (and ended up winning), John Morrison made mention in his email afterwards that he personally had won just under $20,000 on that last bet; it makes me wonder how much of that was actual profit…