Track your bets and you are one step closer to going from amateur to pro.
It really couldn’t be easier than that. First of all, it’s up to you to do this. And you don’t need anything special. Classic Excel does the job.
Aren’t you tired of losing track of your bets and wondering where all your money went? Keeping a record of your bets is the solution. And in this lesson, we’ll cover everything you need to know about tracking your bets, including why it’s important and how to do it.
This is no. 10, the playmaker. The player that can make the difference.
Why Track Your Bets?
Tracking your bets is essential for several reasons. First, it helps you identify patterns in your trading behaviour, such as which sports or types of trades are most profitable for you. This information can help you make better decisions about where to focus your betting efforts in the future.
Second, tracking your bets allows you to analyze your performance over time. By reviewing your past trades, you can see how much you’ve won or lost, what your return on investment (ROI) is, and whether you’re meeting your sports trading goals.
Finally, keeping a record of your trades can help you stay disciplined and accountable. When you know you’re tracking your bets, you’re less likely to make impulsive or emotional trades that can lead to big losses.
What if you have free access to an accurate database that includes the match, starting odds, liquidity, odds at HT, odds in 80′ min, odds just before the event (goal, red card, lineups, …), odds just after the event, and so on?!
It would be cool stuff, right? 99% chance (or 1.01 odds) that you don’t have it. But you can have it next year if you start keeping records.
How to Track Your Bets
Tracking your bets is easier than you might think. Here are the steps to follow:
Choose a method: You can track your bets using a simple spreadsheet, dedicated software (like BetAngel for example), or a pen and paper. Choose a method that works for you and that you’ll be able to stick to.
Record everything: Start slow, but in time for each trade you place, record the date, the sport, the event, the type of bet (back/lay), the odds (pre-match and in-play), the risk (stake/liability), entry/exit points, the outcome, P/L, and ROI. You should also include details about graphs, liquidity, odds movement, market reaction, and comments (red card, injury, how you felt that day, what you did wrong, etc.).
- Save for later: Save pictures of the bets, trades and charts. Even better, record your screen every time when you trade (we use the free software OBS Studio). The value of such a “memory” is ineffable. You can see whenever you want every move you made right (or wrong).
Analyze your results: Regularly review your betting record to see how you’re doing. Calculate your ROI, look for patterns in your trading behaviour, and adjust your strategy accordingly.
Conclusion
Tracking your bets is an essential part of successful sports trading. By keeping a record of your bets, you can identify patterns in your behaviour, analyze your performance, and stay disciplined and accountable.
Whether you use software, a spreadsheet, or pen and paper, tracking your bets is a simple and effective way to improve your betting results.
In conclusion, it’s a big step if you want to become a professional sports trader.