BETTING LOG
Although this thing is neglected by most online bettors, keeping a betting log is one of the most important aspects that can influence the decisions of a bettor and therefore his betting activity. We'll discuss this subject and try to find out why it's so important to keep a betting log.
Some may say that it is not so important to keep up notes about the progress of your betting activity because your online bookmaker does it for you. It's true that most online betting sites can keep track of your bets, so you can check the bets placed 3, 6 or even 12 months ago (by using the betting history feature), but you don't have many filters and if you bet at several online bookmakers at the same time it would be very difficult to make calculations and analyze your activity.
If you are an online bettor who bets rarely (let's say, one bet per month) keeping a betting log wouldn't be helpful as betting is not an important activity for you. But, if you are an online bettor who sets targets, bets constantly, has several criteria when placing online bets (types of bets, sports, odds etc.), then there's no doubt that a betting log/journal would be very useful.
What is a betting log and how can you keep it? Well, it can't get easier than this: you just need to keep notes in a file (word, excel, notepad etc.) or even in a notebook of all the bets you place, dates, stakes, deposits and all other information that could help you create some statistics which can be analyzed later. Thanks to the statistics from the betting log, you will be able to calculate simple things, such as how many bets you placed in a certain period, total stake, average stake per bet, average odds, losing bets percentage, winning bets percentage, on what sport you won most etc. All of these things can help you reach to some conclusions and decide if there's something that needs to be changed in your betting activity in order to improve your results and earn bigger profits. For example, you can find out that you lose big amounts of money by placing bets on a specific football championship - therefore you can decide to analyze it better or stop betting on it.
A betting log is essential when using a betting strategy because you must check it, do stats and decide your next move after each bet you place. Any wrong calculation or move could strongly influence the results and make you lose big amounts of money.
In conclusion, a bettor who really wants to learn from his mistakes, discover ways of improving his betting activity and gain a bigger profit should definitely keep track of his bets by using a betting log. Betting online is not an easy thing if a bettor wants to earn from this activity and, as it was already proved, even a small detail like this can help anyone to become better in online betting.
You may also want to read the following:
Statistics in online betting
Types of bets
Betting strategies
