In all forms of gambling then accurate record keeping is a must if you are going to take the game seriously. If you fail to keep records then how can you possibly know that you are winning and making money or not? This is how the gambling industry makes its money, by large numbers of punters who do not know if they are winning or losing. If your losses are gradual and over a long period of time then it is difficult to spot this without record keeping.
With a run of results like +$45, -$53, -$17, +$144, +$122, -$165, -$87, +$16, -$34 then how would you know that you were losing $29 over that series of runs. It is very difficult to see a $29 loss merely looking at those figures. You tend to see the two large wins back to back and it is these wins that stick in the memory and keep people betting.
Imagine what it would be like if you were to have hundreds upon hundreds of these results. It would be impossible to detect losses if these losses were gradual and being supplemented by ongoing income. This is another reason behind why bankrolls are important but yet it is rarely discussed but yet this is one of the most important betting tips that you can get. If you set aside $5000 as a bankroll and you lose all of it over time then it is pretty safe to assume that you are not making money from sports betting.
However though, some people would rather live in delusion than see the truth of what they are doing. Many professionals keep records not just for their profit and loss but also their betting history as well. This is where trends can reveal themselves and this is also where you can improve your own performance tremendously. This self appraisal and self analysis is critical for success in sports betting as it helps you to locate and then eliminate mistakes.
I use a spreadsheet to record my results and data whether I am betting on sports or merely analysing my past performance. It is important to do this for numerous reasons but you also need to know what strategies are working from those that are not. Maybe you fare better at certain sports over others. How will you possibly be able to detect this unless you keep records? If over 1000 bets on football you were winning on average $9 per bet but these bets were merged together with tennis bets and you also had 1000 bets on tennis but only this time you were losing $7/bet on tennis.
Over the course of these 2000 bets then you would be ahead by $2000 and you may be feeling very good with yourself. But that $2000 win has been made by winning $9000 on football betting but losing $7000 on tennis betting. If you had eliminated the tennis betting from your operation then you would be ahead by $9000 and not $2000.
This is the power of keeping records because over very large sample sizes then it becomes very difficult to see different types of bets when seen with the naked eye when they are not written down.
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