Monday, 2 January 2012

One Year On (Part 1/3)

The close of 2011 signals the end of my first year as a full time sports gambler.  Where has the time gone?  It seems like only yesterday that I was sitting down with my old employers for my leaving meal.  Time really does seem to have flown.

I mentioned at the beginning of the year that I'd only know if the move had been worth it after 12 months, so now that the numbers are in, have I wasted a year and if so what does the future hold?

Results
Lets start with the bottom line.  In 2011 I made 70.28% more than in 2010.  Of course, betting has now become my sole focus but at least the extra time researching and analysing has paid off.  Don't get me wrong, I'm no millionaire, but considering my aim was to just survive and not make a fool of myself, I think I've done okay.

If you breakdown my performance into quarters this is how it compares to the previous year (click to enlarge):
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You'll notice that the main difference was in the last half of the year where it normally gets quieter regarding the number of events I look at.  The Rugby World Cup in October helped but the main improvement was allowing myself more space when there were less contests to get involved with.  In the past I would panic that "I had to make money" so would often lack the patience needed and rush in. That wasn't the case this year and the outcome seems to back-up that I adopted the right approach.

When it comes to which sports have generated my profits there have been winners and losers, but I'll go into that in a little more detail in my next post.

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14 comments:

Master of doom said...

But how many extra hours has the 70% gain taken you ?

Mark Iverson said...

Hi MOD

It's a good point to raise.

In 2010 I was averaging about 30 trading hours (inc research) a week. In 2011 that's increased to approximately 40-50 hours.

However, the big advantage here has been that I haven't also had to work 24 hours doing another job.

So overall I've taken home a bit more money than I used to, but at the same time now also do something I really enjoy.

Thanks for the comment.

All the best,

Mark

Mark Iverson said...

One thing I forgot to mention.

On top of the 24 hours in another job I also used to spend 6 hours a week travelling back and from work.

I don't miss that!

The extra 10 hours a week really make a difference to enjoy other things.

Mark

Master of doom said...

Have you included the income from you other job in the %age increase ?

Mark Iverson said...

Not sure I understand the question but overall I am better off in time and money compared to 2010.

All the best,

Mark

Master of doom said...

Sorry MI,
It was not clear in my previous question, money wise (combination of last years trading + income from previous job) have you increased 70% of the combined total ?
Cheers

Mark Iverson said...

Hi MOD,

Not quite, my overall income has fallen by 11%.

BUT my overall expenses have fallen by 21%. The result is a 10% net gain.

Like any business it's all about managing your cashflow.

All the best,

Mark

Master of doom said...

Hi MI,

Thanks for that but struggling to get my head around this. Would your betting bank have not increased anyway giving you a gain of approx 10% with no additional time spent ?

Cheers

mOD

Mark Iverson said...

Hi MOD,

There wouldn't have been much in it, but the key thing here is that I have replaced my overall income by solely betting income in 2011, whilst spending less time doing so.

That was my aim for 2011. My aim for 2012 is to go to the next level.

Hope this makes sense.

Mark

Master of doom said...

Hi MI,

Thanks, yes it does, spoken with true wisdom.

Good luck

mOD

Anonymous said...

Mark,

sorry if this seems like a silly question, but if you have a profitable system of trading (which you obviously do) and make XX points profit month on month (which you do), why would you not just increase your stakes and therefore your profit?
i appreciate at higher stakes you are obviously risking a higher % of your bank and may also struggle with liquidity in some markets. is it as simple as that? or was this first year your test and 2012 is the year to up the stakes?

Regards

Dave

Mark Iverson said...

Hi Dave,

You've hit it on the head really. After a full year I now understand how big an edge I have in certain sports, so this year I need to be more aggressive and 'up' my stakes.

I don't want to be reckless so the new stakes will all still be a relatively low % of my overall trading bank, but by not increasing them I'm effectively not maximising my potential.

The aim for 2012 was always to up the anti if I made it that far.

Thanks for taking the time to comment.

All the best,

Mark

Daves Mate said...

I Am not Master of Doom !!

Daves other Mate said...

Or Me