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