No matter how recreational or occasional bettor someone is, one thing is for sure. The purpose of betting is to win and so, everything should point towards this direction. There is no logical reason behind wagering without the expectation to win, because after all betting means supporting that something will eventually come true, opposite to the argument that it will not come true.
While there are many strategies for betting available to punters, the most important thing remains the control over these strategies. You can find a number of different tips and approaches that optimize your chances of having winning bets placed at every bookmaker, even the betting site in Bangladesh, but you need to realize that it is not only the strategy that matters, but the extent to which you learn from the strategy, adjust when necessary and change when required.
All these are only made possible through keeping records of your betting behavior and your results. Keeping track of betting records is essential. Not only for those bettors who make a living out of it, but for those who have a looser approach to betting as well.
Let’s see the three main reasons why keeping tracks of bets is the most important part of your betting strategy.
1. Real time snapshot of the betting performance
Keeping betting records means writing down and documenting every bet you place along with a number of featured information such as the bet itself, the reason for choosing the bet (personal choice or following a tipster’s advice etc), the size of the wager, the date, the event’s details and of course the outcome.
Such records can provide an instant assessment of your overall betting profitability or other key ratios and indicators which depict your strategy’s effectiveness by using simple formulas in excel or other worksheets.
Note that there are also readily available applications and programs which you can use for keeping track of your bets, but they tend to be a bit more complicated. If you are newbies or if you prefer to keep it simple, then you can just make it on your own.
So, keeping records enables you to have real time information and a real time snapshot of your performance.
2. Analysis of performance trends
But keeping records does not only offer a snapshot of your present performance. Its power lies in the opportunities for analysis.
You can use statistical methods to find relationships between various factors and betting outcomes or other correlations which are essential to know if you are to have control over your betting strategy.
You can find, for example, whether there are statistically significant relationships between certain betting behaviours and wins or specific bet types and losses. The possibilities are so many that we can’t really write them down now.
For example, if you keep records of your bets you may find that you experience greater losses when you don’t make proper bankroll management -assigning a certain amount to each bet.
Or you may find that you have more wins when you follow a certain tipster and you bet accordingly. Or even you may see that your bet amounts are high and they need to be limited somehow to get you going.
All these – and many many more – can help you better understand the strengths and weaknesses of your betting behaviour and betting strategy. Above all they can prevent you from excessive losses at the end of the day, while increasing your potential for long-term profits.
3. Control of betting strategy
Control is everything in a punter’s betting strategy. It is only through control that you can make any modifications, any drastic changes or minor adjustments and in this way manage to make a difference in your betting performance.
Having all the information right there in front of you and being able to statistically process all the available data, gives you greater power in tuning your betting strategy and directing it towards where you want to move.
You can’t rely on your memory or on your thinking for making proper analysis. Keeping records means making data driven decisions and we all know by now that data driven decisions in things like betting are so much wiser!
