NCAA Basketball: Tracking Expenses, Losses and Profits

Don’t Lose Track of Your College Basketball Betting Business

Successful NCAA Basketball bettors treat their enterprise as a business and that means that they keep track of all of their expenses, losses and profits. Doing so will help you reach maximum efficiency and allow you to plan your weekly betting accordingly.

Your NCAA Basketball Bankroll and Expenses

As an example, let’s say that you are starting with $725 as your bank. That money is going to be used for any expenses associated with your NCAA Basketball betting. You may have setup expenses that include:

  • $20 for basketball preview publications.
  • $30 for access to exclusive NCAA Basketball content.
  • $75 for pick services.

The total amount of your setup expenses is $125, which means that you are starting $125 in the hole. In reality, you will not have started making a profit until you first make up that start up money.

Tracking Profits and Losses

Often sports bettors make mistakes in tracking their wagers. If they make a total of 20 units of point spread wagers at $5.00 per unit and lose nine, they’ll list their loses as $45.00, but that is inaccurate. That’s because when you place a $5.00 bet, you have to post $5.50. That extra fifty-cents goes to the sportsbook as their commission.

Note, in betting 20 units at $5.00 per unit, you will have anteed $110 and not, as you might assume $100. That’s because each unit carries a fifty-cent commission.

If you lose nine units, you are down $49.50 and not $45.00.  Thus, your expenses, which would be the commission, and losses have done this to your $110.

$110.00 Weekly Bankroll

– $49.50 Loses

$ 60.50 Balance

This week, you’ve won 11 units, which would payback $55. Add that cash to your balance.

$  60.50 Balance

+$55.00 Wins

$115.50 Total

Your profit for the week is $5.50. If you had not figured in the commission, you may think it was $15.50. By the way, you are now down $119.50 and not $125.00 as you have made up $5.50 of your startup funds through your winning bets.

Keep Good Records

The NCAA Basketball season runs almost six months and that means that it is easy to lose track of your bets, expenses and losses. Also, you may over-estimate your profits, which means that you won’t have a clear picture of your performance. It’s important that you know how you’re doing as this is integral to your taking action to improve your performance over the course of the season. The bottom line when it comes to the bottom line is keep good records each and every week.