Track your bets to learn from mistakes and also understand what’s working for you. Here’s how.
Sports betting is more than just a mere gamble and must be treated as investment, not as a game of luck!
Why you should track your bets
If you’re reading this article, the chances are you are a level or two above the “casual punter” grade of bettor. Staying on top of your betting finances is of fundamental importance in order to maintain profitable long-term results from your sport betting activities.
Think about it: every financial investment you make is a calculated decision that you feel will result in financial gain. Approach sports betting in the same way with a key element being to track your bets.
Sports betting itself is a long-term project and there are various reasons why you should always track your bets. The more you track your bets, the more of a return you’ll get on your time and monetary investments.
You should be keeping track of your data for every bet you place: both those that win and those that don’t. The reasons are quite straightforward: the more punctual you are with tracking your bets, the more data will become available to you. As a consequence you will be able to analyse different trends and identify interesting insights about your own betting behaviour. In turn, you will gain a better idea of how to improve your sports betting portfolio and significantly increase your chances of making money in the long run.
How you should track your bets
Tracking your bets nowadays is easy and you do not need any technical knowledge to do it!
It is not hard to imagine why people fail to track their bets. It is not because they do not want to do it but because sometimes they do not have the technical knowledge and patience to set up and manage an excel spreadsheet.
We are living in the 21st century and we should make the most of the technology available. There’s software fully dedicated to bet tracking, analysis and bankroll management. Such software can be found at Bettingmetrics.
Their software will help you to manage all your betting activities in one place. It provides you with an automated bet tracker that will save you time when tracking your bets and will allow you to import your betting history from various betting exchanges. Which effectively means very little manual work is required. It will also auto-settle the bets for you so once tracked you do not have to come back and settle them manually. Bettingmetrics bet tracker is multi-functional and allows you to track all sports and bet types, such as singles, accumulators, arbitrage bets, each way wagers, in play bets, free bets and others.
Using the data from tracked bets
Tracking your bets but not analysing them is one of the biggest mistakes that punters make in today’s betting world.
Tracking your bets on a consistent basis will help you generate data. That data is only worth anything if you objectively analyse it and derive honest data-driven conclusions.
Obviously, to analyse the data you need specific tools that will enable you do to so. This is why the guys from Bettingmetrics developed the most advanced analytical tools available online.
Bettingmetrics analytical tools will allow you to see at glance your betting profit and loss, ROI, turnover and many other key performance indicators. You will be able to dig down into your data and analyse your performance by sport, bet type, bet market, tipster and pretty much any other criteria you can think of.
The whole software is really easy to use and it does not require any technical knowledge on your side. Furthermore, they are now developing an Artificial intelligence algorithm that analyses your data for you and tells you how to improve your betting based on your own historical results.
As usual, Bettingmetrics’ goal is to remove the manual and subjective work away and only focusing on numbers.
You’ll remember that at the the beginning of the article, we told you to treat your betting activities as an investment? Well, do not trust your gut feeling. Instead, believe in the numbers.