Why Track Your Bets?
Without records, you're betting blind. Memory is unreliable - bettors typically remember wins better than losses. Accurate records show your true performance.
Records help you identify which markets, sports, or bet types are profitable for you. You might discover you excel at over/under markets but lose money on handicaps.
Historical data also helps refine your strategy. You can test whether certain patterns actually work or if your perceived edge was just luck.
What to Record
Essential fields: Date, Event, Selection, Odds, Stake, Result (Win/Loss/Push), Profit/Loss. Optional but useful: Sport, League, Market type, Bookmaker, Your reasoning.
Recording your reasoning helps you learn from mistakes. Was the analysis sound but unlucky, or was the bet flawed from the start?
Use a spreadsheet, dedicated betting app, or even a notebook. The format matters less than consistency - record every bet without exception.
Measuring Performance
Yield (ROI) is the key metric: (Total Profit / Total Staked) × 100. A 5% yield means you profit $5 for every $100 staked. Professional bettors typically achieve 2-10% yield.
Also track win rate (% of bets won), average odds, and profit over time. These help contextualize your yield and identify trends.