Why I Believe it’s So Important To Create A Sports Speculation Portfolio!


In yesterdays Blog Post Of The Week I stated my intention to create a sports speculation portfolio.

There may be some readers who are saying; “Your eachway bets are achieving great results so why dilute what is really an above average performance?”

The question is a valid one and one that I will attempt to answer in this post.

The results of my eachway selections have been good for the first two months that I have been posting them, however because of the nature of managing risk (which is effectively what every sports speculator is really doing) there are bound to be periods of time where results are not as good as expected. That statement is just as true for the most expensive tipping service as it is for my eachway tips, it is just the nature of the game that we play.

So I  know that medium to long term my tips will be profitable, but is there anything that I can do to smooth out the volatility to my betting bank. Well my answer is yes, by adding more profitable strategies to my sports speculating armoury.

I believe that a portfolio approach to sports speculation can considerably boost performance and smooth out the inevitable volatility that is an inevitable side effect of our pursuit.

Another equally important reason for adding to a portfolio is that of time management. Gaining an in depth knowledge of a sport, then developing and implementing a profitable method of profiting from that sport is a very time consuming endeavour, so by using profitable tipping services we are effectively maximising the time that we have available in that the tipster does all of the ground work for us.

I consider another main benefit of using a portfolio of profitable tipster services is that as well as paying for the tips we are paying for an education in sports speculation. By that I mean that we will effectively be learning from a professional sports speculator. We will learn how they approach their chosen pursuit in a businesslike manner in everything that they do, from their approach to good money management to dealing with the psychological pressures involved.

Another main reason for using profitable tipping services is that by studying their tips and results we can learn how they gain their edge in their particular area of expertise, we can then use that knowledge to build ourselves an edge so as to become profitable in that particular area of sports speculation.

For example when I read one of my favourite blogs called Playing It Safe, I see that Dean the blogs author has achieved great financial rewards from following just one service, however I bet if I were to ask Dean, he would say that another and equally important benefit of following the service is how it has helped him to adopt a professional approach to his own betting. I would also be fairly confident that by following the service and studying the results, Dean will have already gleaned a few profitable angles that he can now implement himself without the aid of the service.

Finally to sum up, I believe that by using a portfolio of profitable tipsters and my own strategies I will be able to increase my profits, smooth out the volatility of my betting bank returns and possibly the most important of all; gain an education in how to approach sports speculation in a professional manner and become more independent.

I hope you enjoyed this post
Stay patient
Mark

8 comments:

  1. Very good post mate.
    Hope your trading is going great!

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  2. Hi KO'D

    Thanks for the comment.

    My trading is on the backburner at the moment while I set up my portfolio, but medium to long term I want to ramp up the trading so that it covers at least 50% of my activity.

    By the way I was just reading your post about learning a new sport and I think it is an excellent idea. American sports are something that I would love to get involved in so I will be watching your progress.

    Thanks again
    Mark

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  3. Hi Mark

    Really enjoying your blog and long may it continue!!!

    Let me tell you a bit about myself and more importantly the lessons I have learnt so far.....

    I think the main lesson I have learnt so far is......

    YOU HAVE TO LOSE TO WIN!!!!

    When I first followed Roger, I would have great winning days but I was not experienced enough to STOP and I always wanted more!!!

    I would spend the whole bloody night chasing my tail blowing any winning on all weather races, in fact any race I could find at the time.
    This effected me in a big way, my family suffered, my work suffered and not before long I was on the road to despair!!!

    On top of that my father had a major heart attack and I was made redundant and the service I was following had a poor run!!!!!
    !
    I was totally gone, right down at rock bottom in a very lonely dark place .

    I immediately had to change my mindset and first of all STOP all betting and sort my shit out......

    It took over a year to get back on my feet at this time I could not afford to pay for tips and although Roger did offer to send me his tips till I got myself sorted out, I simply could not accept his kind offer as I needed a break and the last thing on my mind was betting....

    I was lucky enough to eventually get reinstated in my old job and at this this time I was reading blogs such as Dirk Diggler and JP's betting blog, this had become part of my daily routine and it was fantastic reading the adventures of gambling daily and seeing how other gamblers where spending there hard earned.

    One of the biggest learning curves for my strategy was learning the value of money, with online betting, especially when you are on a good run, it is so easy online to see the money as monopoly money or in other words the bookies money!!!!!
    Online makes it so easy to put a bet on and not see the cash.....This is why now I think in terms of points not cash, this way it makes it easier to manage points and not think in terms of money....

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  4. The next step was to protect my Points at all times and set a plan in place of where I wanted to be and work to a LONGTERM strategy.
    This is where the one percent per point kicks in, when I win my stake
    gets larger, on a poor run my stake reduces, simple really....

    Many fellow blogger have questioned my strategy of following one tipster, I have often thought long and hard about this and have been under pressure to use other tipsters due to me keeping all my eggs in one basket.....

    The problem many people have from what I have seen from the various blogs, for instance JPs is they seem to follow several services hoping that when one service has a bad run the others will deliver. From what I have seen so far this is a huge risk as a couple of bad months from several tipsters can take you down in a matter of weeks!!

    I also think trust and belief comes into the equation, I know for a fact not every week will be a winning one following Roger, I doubt you will find any service out there who wins every week. What I do know is longterm over a period of time Rogers service comes good and have the confidence that eventually luck of the run will turn over a period of time.

    Trust does not come overnight and if you would of joined up with Rogers service in December during a bad run from his service I think you would of probably of been sending him hate mails after the first few weeks. Yet if you would of joined come the end of February you would of though he had a license to print money!!!!

    As you can appreciate this trust has been built on 4 years of following one service and does not come overnight....

    You are also 100 percent spot on regarding what I have learnt form following Roger and when I see certain horses out in the decs the night before I almost know if Roger puts them up I will lump on with some personal cash. I can often spot a gamble or a horse from a shrewd yard the night before it runs.....

    As for the future who knows? Maybe once i have trebled my bank I may add another service or even find the confidence to trial my own tips from what I have learnt on my journey so far.....

    Again thanks for you kind words, I often worry what I can add to my blog to make it more interesting as I am by no means a writer (as you can tell my from my daily ramblings) and would be open to any suggestions to spruce my blog up....

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  5. Hi Dean

    Thanks for your fantastic comment.

    You have raised some very important points that
    I would love to address.

    Firstly I totally agree that you have got to learn to lose to win. It was a very costly lesson for me as it was for you, but it is one of the cornerstones to successfully playing the markets.

    I also believe that the unfortunate events that unfolded in your home life did have a perversely beneficial effect on your mind set.

    Because they were of such a magnitude that they forced you to stop the downward spiral and gave you real quality time to address how you approached your gambling. I must say that Roger Green keeps going up in my estimation when I read about how he tried to help you, we so very often hear of the sharks in the gambling world that is refreshing to hear about a good guy for a change.

    The second really important point you make is that when betting online it is easy to lose touch with reality and realise the value of the money we are using. The problem is that we do not want to become so afraid of the sums involved that we dare not make bets that we really should , however by the same token we do not want to lose sight of the value of the funds we are playing with. I think that your method of thinking in terms of points instead of cash is one good way of addressing the issue.

    The third really important point you make is that we need to have a long term plan in place. Being too impatient for quick results has been my downfall in the past and that is why I called this blog the name it has, so as to remind me of the constant need for patience.

    My thoughts about you following just the one service are that; in order to become successful we all need to find an approach that suits our own personal needs and comfort levels. You obviously have found an approach that works for you and I can totally relate to your points about the need to trust whatever method you follow, because if you don’t you will not be able to handle the inevitable losing runs.

    From my standpoint I feel more comfortable with more than one method in my armoury, but as I have said I really believe it is a purely personal decision that has to be made, there is no definite right or wrong approach.

    The part of you comment that excites me so much is that you do agree that by following quality tipsters you also gain an education that allows you to become more independent in the long run. As I have written; that is one of my primary reasons for me wanting to start a portfolio.

    Finally with regards to sprucing up your blog: Read this comment you have written on my blog and I mean really read it! You will see that the passion you have for you subject shines through your words and it is that which attracts people to your blog. I would say just keep doing what you are doing i.e. reporting the facts and discussing your passion and you will need to do no more.

    Thanks again and keep up the good work.

    Mark

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  6. Brilliant comments from Playing It Safe and a very insightful read from you both. That is what blogging should be about - what makes people tick, that learning curve, passion and thoughts of future goals. One of the best reads I have seen on any blog in a long time.

    Regards,
    Jason

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  7. Hi Jason

    Thanks for the feedback, but I do not want to take any of the credit. It is all down to Deans words and I am just happy that he decided to share his thoughts here.

    Regards
    Mark

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  8. Cheers Mark

    Looking forward to following your journey, may the force be with you!!!!

    Hope you don't mind but I have used this page and posted in on my blog tonight (no bets today) and recommended it to my daily readers.....

    If it caused you any issues let me know and I will remove it immediately....

    Dean

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