Any respectable NFL bettor knows that they need to keep extensive betting records in order to be successful. It is easy for any punter to remember wins rather than losses but that is in no way helpful. In order to improve, an NFL bettor needs to know exactly how well they are doing and how they can refine their betting strategies and systems.
This can be easily done in a number of ways. Technology has advanced enough to make keeping track of all your NFL bets with utmost ease. In this article, we will clarify why exactly you should keep betting records and how it can help you better yourself.
Why You Should Keep Records
First of all, we should note the fact that keeping track of your bets will make you a more responsible NFL bettor. You will be able to spot patterns in your betting history which will enable you to avoid making the same mistakes. This way you can stay ahead of any tempting sportsbook offers that would in reality only cost you more losses.
Additionally, if you are prone to irresponsible betting, you will find that going over your NFL betting history is most insightful. If you have a long record of losses, you will be more likely to change your strategy or betting system. Naturally, if you have been experiencing plenty of wins as of recently, you will be able to tell exactly why that was and keep it going.
Keeping NFL betting records can be immensely helpful to all types of punters. It does not matter if you are a recreational player or someone seeking to make some serious profits, nor if you are a high-roller or a low-roller – maintaining a list of your NFL bets will allow you to improve on what is already there.
It is important to be able to accurately see how successful you have been. Noticing your different betting patterns can help you pick the right betting strategy and system. Keeping track of the sizes of your bet can help you determine whether you are able to keep a cool head when things get heated. It is extremely important not to get caught up in the moment because that could easily be perilous to your bankroll.
How to Keep NFL Betting Records
There are several key things you should include in your NFL betting records. In order to grasp the full picture, you should keep track of the size of your bets, what the odds were, what your bet type was, which team you placed a bet on, and whether it was a winning or a losing bet. Additionally, it is also useful to record the date on which the game was held, or if it was a bet on the outcome of the whole league, the day on which the result became known. Of course, you should also keep track of the funds you have won.
It is crucial to remain aware of all the funds you have wagered, regardless of whether they helped you make a profit in the end or not. Knowing how much you have won and lost will let you gain clarity on how successful a punter you have been as of late. This way, you can either learn whether your strategy and system work or not, or learn some additional restraint. Either way, you get to become a better NFL bettor.
The odds at which you made the bet also matter substantially. If you have made a passionate bet with horrible odds, for instance, you will be able to see this reflected in your NFL betting records and avoid it in the future. On the other hand, if you have made a horrible bet just because of the great odds and it turned out to be a loss, you will be able to avoid that instead.
The type of bet you have placed is also a crucial bit of data when it comes to analyzing your betting habits. You will be able to group your bets by type and see which one you have had most luck with. Of course, it is more down to skill than luck but this is going to be helpful nonetheless.
The team you have bet on or against will help you figure out whether you are better at predicting the results of home teams or away ones. You will also be able to see whether you can be affected by a team being a favorite or underdog. Of course, there are also plenty of other factors to take into consideration when it comes to the teams you are betting on. Based on those that interest you, you can feel free to add more information to your betting records.
Your betting records will also need to reflect whether a bet was a losing or winning one. This can also clarify whether your strategy and system are working or not. It can help you see your development as an NFL bettor and give you a clear idea of your current level.
An easy way to keep track of all of your NFL bets is by using spreadsheets. You only need a basic knowledge of how spreadsheets work in order to use them for this purpose. Of course, you can also just keep written records. All that matters is that the records you keep are neat and easy to track. You should have a separate spreadsheet for every different sport and league you bet on.
Advanced NFL Betting Records
For a more expert approach at this crucial part of sports betting, you might want to consider additional fields to your spreadsheets. So far we have introduced you to eight sections you should use – the date, event, selection, type of bet, odds, stake, result, and payout or loss.
In addition to those, you can add cumulative payout or loss and cumulative stakes. You can also add return on investment or ROI for short as a percentage. This way, you will be able to see which bets have been most profitable and, if you bet on multiple sports, which sport is most profitable too.
You can also add notes to the bets you have placed. For instance, you can write down how certain you were that your bet would win or why exactly you placed that bet in particular. That way you will be able to evaluate whether you have been placing bets based on logical factors or not. Seeing the results will help you take the right steps to improve.
You can also add other sections that you have deemed appropriate or generally relevant to your bets, betting strategy, and betting system. After all, the point of all this is to help you analyze your betting patterns in an easier manner.
Analysis of NFL Betting Records
The way to go about analyzing all of the information you have collected is based on sample size. You need to keep betting records for some time before you start analyzing them and drawing conclusions. The more data you have, the easier it will be to spot trends and patterns.
Along with that, it will be much easier to gain a realistic idea of your strengths and weaknesses as an NFL bettor. You will be able to clearly see whether the result of your betting habits is positive or negative.
In any case, once you have spotted a trend in your betting records, you will be able to trace it back to its source and thus, figure out where the real problem lies. This means that you will be able to make some significant improvements. Some might need to improve their skills, others might need to obtain some more knowledge before continuing to bet in this sphere; point is – you will be able to tell what exactly the problem is if there is one.
You should also be able to do some basic math in order to spot trends more easily. The simplest way to do that is by using the following formula – net profit/total amount of money wagered on NFLx100. This way you will be able to see the exact figure of your returns.
Keeping betting records is crucial to the success of any sports bettor, but even more so for NFL bettors. There are many factors to take into consideration when betting on the NFL not to keep a record of your bets. In order to analyze your betting habits, you will need to have a spreadsheet and update it every time you place a bet for a while.
NFL betting records can help players spot their strengths and weaknesses. This way they can grow and improve as well as spot exactly what they are lacking as NFL bettors. Punters can develop their skills and upgrade their overall level. This is a tool useful to both beginners and more experienced players. Anyone can benefit from it and become a more responsible player.