Profit/Loss
 

I'm doing my monthly profit and loss statement and I would like to know what expenses I should include to get a true picture of my punting position.

Can I suggest you take a wild guess first and then invite feedback?

To my knowledge(might be wrong however), few of us on here are running our punting activities like a business with monthly / quarterly / annual reporting cycles. Which would indicate that common sense might prevail when it comes to matching costs with revenues, if that is what you are trying to do here.

LG

I would like to take my punting seriously and run it like a bisiness. What are the steps that i need to take.

I already have my betting Bank which is $2000.

What do I do next?

Hi Benny,
If your happy with your selection skills then I would bet to take out 4% of your betting bank betting to prices GROSS.

With a $2000 betting Bank that would be a gross return of $80.

i.e Price $2.50 = $32 etc etc.

I would be steering well clear of any loss chasing plan regardless of what any
crackpot tells you..

Bet to the lower end of the Price market unless Multiple betting.

Good luck.
Cheers
darky

















whatcrackpot recommends

Biggest expense not many consider is Opportunity Loss
This is your time invested

Agree Vortech,

I often wonder 'what if' I had dedicated as much time to another pursuit...

I concur. The hardest to track expense, but most meaningful of all? Another option might be to hedge your bets in this respect i.e. run your punting activities alongside something else, at the same time. Preferably PC based to avoid RWI = regular whiplash injury

LG