If you are a sports bet lover but are not keeping a journal regarding your wagers, winnings, and losses, you are making a terrible mistake. Maintaining betting records is essential if you want to enhance your profits in the long run. A serious bettor will never bet on sports without keeping a journal regarding his betting transactions.
If you are amongst the bettors who fail to keep a record of the wagers placed then the following are the reasons, benefits, and a helping guide to doing the same. Like SWOT analysis for the business world, here the same can be done to evaluate an apt betting process.
Winning and Losses Record book
Without a doubt, most bettors do not know how much have they won or lost with absolute certitude. Bettors who visit sportsbook sites and bet for fun, do not consider this step a serious one. Here are the pointers that will show you the importance of maintaining a record book:
- It keeps a legit track record of how much have you actually lost.
- It helps the bettor to create a fine line between how much he has actually spent and when to reduce the stake.
- It maintains a record of how much you have won. Sometimes a bettor does not even know the correct amount he has made. He might be underestimating his winnings.
- If without any serious effort, a player is earning well then imagine how much more can he earn if he puts some serious efforts by examining his record book.
- Winnings are not tax-free for some. What if you do not know whether your earned money comes under the tax slab or not.
Examine Your Strengths and Weaknesses:
Bettors usually bet on various kinds of sports, tournaments, and events. To do this, they place various wagers differently. This methodology is not wrong but without a proper record, a player might not know what and where his strengths and weaknesses lie.
Maintaining a betting record can help a player examine his strong side in the game. For instance, he might do well while betting on totals, however, during live betting, he does not perform that well. This gives an in-depth perspective regarding the areas he needs to work on before placing his bets.
Evaluating Unique Betting Approach:
How will a player change his approach without examining his old strategy? To know where the loophole lies in a sports book (for readers in the EU) strategy, examining the betting transactions is vital. Keeping a record book aids the player in fabricating a new system that overcomes the flaws of the earlier strategy. This is how he grows, learns, and earns more in a betting game. Remember, your money is on the stake!
Maintaining betting records gives a player the leverage of figuring out how much deposit he needs to make, where to place the wagers, and when to change the betting strategy, Sometimes records do help in seeing the unknown. In fact, we can create a different strategy while betting or in work and life when we examine past actions.
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