For the occasional bettor, it might not be that much of a deal to keep a check on what they’re wagering on and how much they’ve sunk into betting. But if you’re serious about it and want to make some profit, you’re going to have to do some bookkeeping. Here’s how you can analyze betting history:
What Information You Need to Focus On
Rather than go with a pen and paper record collection, it’s best to use some digital document like an excel sheet to track information down. These are some of the things that you need to keep a track of:
- When the game took place.
- Who did you wager on?
- What kind of wager/bet was it.
- The amount of money.
- The outcome.
- How close you were.
There might be numerous techniques for how you can analyze your betting history, but nearly all of these will rely on the aforementioned aspects to get an idea of your how your bets are playing out.
Ways to Analyze
There are numerous ways of analyzing sports betting history:
Determine by Sport Type
This is a simple method where you split the results by sport type. It will help you get an individual calculation of how profitable or how much of a loss you’ve had in a particular spot.
ROI vs Win/Loss
A great way to get a proper idea of whether your investment in a sport has been fruitful or not is using the ROI compared to the win-loss. You can calculate this with a simple formula:
ROI = (Net Profit/Total Investment) *100
The higher the ROI, the better indicator that you’re doing well in this sport.
Is This All Helpful?
It’s important to know that no better is always right or has a flawless record. In fact, many of the pros are generally right in their wagers around 55-57 percent of the time. With that knowledge, it’s clear that these people are utilizing the right wagers correctly more often than not and making good calls that have helped them achieve success.
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