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Keeping Betting Records

Whether you are a serious punter or only someone who has a few bets a week for fun it is certainly worth keeping a record of all the bets you place and the returns you make.

Advantages Of Keeping Records

Sensible Betting

One of the most important aspects about betting is to keep it sensible. That means only ever betting amounts you can afford to lose and not letting betting take over your life. It can be fun but it can also lead to depression so keeping a record of how much you are betting, winning and losing should encourage sensible betting. You will be able to see how much you are winning or losing each day, week or month and you should be able to spot it early if you are betting or losing too much. The earlier you can spot a problem the easier it usually is to fix.

Find Your Strengths

Betting School ImageIf you are betting for ‘fun’ rather than doing it seriously it is always more fun when you are winning so the same principles apply as if you were doing it on a more serious level. By keeping a record of what bets you placed you can find out which types of bets work best for you and which are less profitable. For example you might find that you make a profit when betting on rugby but not on football, even though you consider your level of knowledge to be equal on both. This is rarely down to luck or coincidence and it is likely that these trends will continue over time so you should concentrate more of your betting capital on rugby in this example rather than football. Your level of knowledge might be similar on both sports but the bookies may have more information and knowledge about football rather than rugby which is why you’d be getting the edge on your rugby bets.

Over time you might even be able to delve further into your betting records to see what types of bets are more profitable on each sport. You may find that your accumulators don’t produce a profit because the teams you are including are too short a price whereas your correct score or goalscorer bets at bigger odds do produce a profit. Alternatively it could be the other way around. The better records you keep the more information you will have at your disposal about your betting and that can only be a good thing as anything that helps you place more winning bets and less losing bets can make a huge difference to your betting strategy and finances.

Find Your Weaknesses

The same applies to weaknesses as strengths. By keeping records you can cut out as many mistakes as possible. You may find that when betting on football you often place bets on a Sunday when chasing Saturday’s losses. A record of how these bets have got on might show the ‘chasing’ bets are costing more than the initial losing bets which should be motivation enough to cut out the chasing. You may also find that certain sports or markets are unprofitable and when you can see that on paper it is easier to make a case for no longer betting on those sports or markets.

There is a thread on the OLBG forum about keeping betting records, click here to contribute to the thread or to check out what advice other OLBG members have about keeping records.

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