Total for year: 31 out of 48
Betting results:
| Team | Outcome | Winnings |
|---|---|---|
| St.Kilda | W | $110 |
| Nth.Melb. | W | $106 |
| Adelaide | L | -$100 |
| Brisbane | L | -$100 |
| Geelong | W | $2 |
| Collingwood | W | $55 |
| Fremantle | W | $42 |
| Total ($700 outlay) | $115 profit | |
| Percentage Return | 16% profit | |
Another successful round - that's 3 winning weeks in a row.
The results I have been showing in this blog are from using a fixed bet strategy. That is, each bet placed is for $100 and does not vary. Under this strategy, regardless of the odds predicted or the odds available on the game, the bet is always the same.
Another popular strategy is called Kelly betting. This involves adjusting your bet according to the odds available for the match, and what is predicted. I have been recording the results of this strategy too, so I'll post a summary of this at some stage - probably around the mid-season mark.
As a sneak preview, I can tell you that using Kelly betting so far has resulted in a much better return. After the first 6 rounds, fixed betting has yielded a 6% return on investment. ($4,500 bet for a $277 profit) whereas Kelly betting has produced a 17% profit ($2,196 bet for $380 profit). I'll provide more details of Kelly betting in the coming weeks.
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