Do you keep track of your betting history? Do you know how you performed last month or the month before that? Do you remember what was the betting odd of that game from 10 days ago and how much did you actually profit from that? Do you remember whether you won or lost 20 bets ago? If the answer to even one of these questions is ‘no’ then you might be looking at betting on the wrong side. Every professional punter knows that betting need to be treated exactly the same way as business. Betting history is the hidden key to their success and every one of them will tell you that keeping track of your betting history and analysing it will help you transform gambling to an investment.
Before placing a bet, many novice players consider only well-known factors, such as basic pre-game statistics, line-ups and some other basic information. Why – because pre-game stats, comments and line-ups are a very common sources available on-line and almost every sports or news website provides them for the reader. But the key to a successful betting career for the novice player or semi-pro punters lays beyond the widespread information and is in their own, personal statistics and betting history. Today, we want to bring your attention to the hot topic – betting history and to show you why it might be considered as the hidden key to success for every pro punter.
The importance of tracking and analyzing your betting history
It doesn’t matter if we talk about betting, crafting and selling handmade toys or working on a full-time job as a shop owner – when looking at them as a business and a way to make money, keeping track of what you do is crucial for your success. Without records and betting history, the punter won’t have simple information, that is actually very important for his future bets. Data like how much money did he made, what were the winning odds, how many bets he did in general and so on. Without this information, the player will simply place his bet in the dark.
Keeping track of the betting history is the foundation for every player, and the next step after recording it is to analyze it. Without the analytical part of this equation, the simple task of keeping track of the betting history will be pointless. Analyzing the betting history helps punters draw conclusions about their performance, their winnings and losses. It also gives them ideas and directions about the areas that need improvement and the ones that are actually working pretty good. By multiplying good practices and detecting weak links and finding a solution to them, the punter outgrows his level and transforms form a novice player to a real pro.
For sure every successful punter knows that betting is like practicing a sport or mastering a certain skill – you are never at your best and even if you are, you must continue working to maintain your level and always strive to improve it. This is where betting history helps pro players – it helps them determine winning patterns in their betting behavior, observe their past performances, carefully track their bankroll and money management.
Keeping track of the betting history and analyzing it will also help every player to develop a better money management strategy, compare the betting odds and closing line odds and determine whether he is adopting value betting approach in his betting strategy. This is particularly important when following and analyzing advice and predictions, received from a tipster. When the player has a detailed betting history, he can observe whether the tipster gave him a prediction with value or not. Having that information available to the punters enables him to predict whether that tipster has an edge over the bookmakers in the long run.
It is very important to track your betting history by yourself because many bookies deliberately don’t share this kind of information with the player, so he won’t be able to analyze his betting history and will just gamble and lose money. This is why we suggest the players to use at least one of the three ways to track and input your betting history – pen and paper, spreadsheet or a professional software. More for every type of bet tracker - read here.
What is the key information that is valuable for the betting history?
Pro punters are unanimous about the key points (also referred to as ‘the basics’), that every player needs to track in his betting history:
- Date of the bet
- Sport type
- The market and the type of bet
- Amount of the bet
- Odds or spread you got
- Closing line odds
- The outcome of the bet.
This is the basic information, that every punter needs to track and now we’re going to look at every one of them separately. The date of the bet is important, so that the player will be able to analyze trends by time and eventually identify whether he is more profitable during the week or weekend when there are more betting events available. Tracking sport types can help you to compare your strategies on different sports and see which one is more reliable – hence you can adjust either the strategy or money management and minimize the risk and maximize the profits. The market and bet type of bet is a crucial element of the betting history, because it shows the player where his quant model, strategy or tipsters performs the best and has a clear edge over the bookmaker. Referring back on a regular basis to this element of the betting history will help every punter to profit in the long run and remove what is not profitable from his betting portfolio. Basic information about the amount of the wager placed shows whether the punter is disciplined and follows certain money management approach. Keeping more detailed financial information is a must for every professional. Tracking the odds in the betting history helps the player compare them with closing line odds and determine whether he has managed to imply value betting. And, of course, the outcome of each bet placed helps to stay on the top of our financial performance see our profit and loos, return on investment and return on capital.
As we already mentioned, these are the basics of betting history and are certainly better than nothing. But for punters, who take betting more seriously and want to profit from it, this information is far from enough, the more detailed record they keep the more informed decision will be making. No matter what, keeping betting history is crucial for the success of every player and we strongly suggest everyone to find the most suitable way to track his betting history.
Additional factors, that need to be tracked in the betting history
In addition to ‘the basics’ there are three more things, that novice players have to consider and record when they’re tracking their betting history – confidence, motives for placing the bet on that particular outcome and how close to a win or loss they were. When placing a bet, confidence is a key and tracking this factor in the betting history is very important, because it can help the punter adjust his strategy and improve his performance. For example, if a player loses a streak of bets, for which he wasn’t so confident, he might reconsider gambling such bets and focus on ones that bring him profit. On the other end – if a player is placing bets on odds he feels very confident, but in the end he is again on a losing streak, this is a signal for him to rethink his entire betting strategy and the way he chooses his bet selections. You can track confidence in your betting history in two ways – to take notes or to scale it. When we are talking about analyzing betting history, because you will work with a lot of numbers, it might be more comfortable to rate the confidence in a range (for example from 1 to 9).
- Don’t forget to be honest to yourself!
For the clarity of the results after analyzing the betting history, every punter has to be honest to himself and should not manipulate the results or his predictions. This might improve your overall performance and stats, but will definitely get in the way of your judgement and will influence all future bets. This is why it is important to be disciplined and track all winning and losing bets in the betting history – it doesn’t matter if it is a well calculated choice or a drunken mistake. If the stakes were placed – count it. This way the punter will have a real view of his betting history and the analysis will be really valuable and most important – correct. The same rule implies when imputing the data in the betting history tracker.
- Track the main reason for placing the bet
The second additional variable, that has to be present in the betting history, is the reason why the player chose this outcome and placed his bet. It might be, thanks to a quant model he developed or because he is very confident in the outcome, or he simply has received a tip from a tipster. No matter what the reason is, it is important to include it in the betting history notes and refer back when revaluating his betting approach. This how the punter will always have the information available and in a similar situation can double check his previous predictions and outcomes.
- Include how close to a win or loss you were
Adding this information in the betting history gives the punters an overall view of how he performs in how close was he to a win or a loss of a certain event. Let’s explain it. If a player’s strategy brings him winnings of games by large spreads more than 3 or 4 points then this might be something, which the punter should examine and multiply to profit more. But if the betting history of same player shows, that he is losing or winning games by spread of 1 point (where a point may be goal etc.), this might be a strategy that won’t bring so much profit in the long run and therefore should be reanalyzed, changed and tested again. That is relatively unpopular thing to track but sometimes it may appear very useful as helps to evaluate how well is current strategies doing.
Tracking in the betting history the factor – how close to a win or a loss can be difficult in events with drastic changes, that highly influenced the performance of the teams and the outcome of the game. For example, in a soccer game when a player receives a red card, this will definitely change the pace of the game, the formations, line-ups and strategies. Try to stay distant from that and when imputing this variable in the betting history the player should try to determine the variable before the red card. The idea is to get valuable and correct data for your betting history, so based on that you will be able to make better decisions and alterations of your betting strategies.
How does Bettingmetrics help punters track and analyze their betting history!?
Bettingmetrics provides punters with one of the three options to track their betting history and that is a professional software, designed to save time, increase accuracy, automate processes and finally improve the performance of the punter. With Bettingmetrics the player receives detailed information and charts without even asking for them. Our software aims to optimize the process of tracking and analyzing the betting history and then placing a bet so punters would be able to perform every desired action without the need to change the website.
The various charts and tools give the punters the opportunity for a better analysis of their betting history, compared to the other two types of bet trackers. Bettingmetrics helps players identify the trends over all bet types, bookies, events, teams and sports. This way the punter has the chance to analyze the key trends, find the value in them and tweak his betting strategy.
Unlike Excel, Bettingmetrics automatically backs-up the data of the players, which means that there is almost no chance of your betting history to be gone forever. Our platform automatically backs-up the data, statistics and betting history of our users every 72 hours. And our website is available from every device and corner of the world and does not require a computer to be managed. For a better track at your betting history – choose Bettingmetrics!