Create a Betting History
All bookmakers provide a betting history for users. This history offers information on each bet, how much money you have bet, and also the return if the bet was won. In this section, we will explain how to create a bet history and the factors you must include to make your history as complete as possible.
If you use several bookmakers, this information is very dispersed and difficult to analyze. On the other hand, it is important to have other factors documented in your betting history. That will allow you to more accurately determine if your method is being effective.
Define sport and competition
Many punters like to bet on various sports, but are they profitable in all of them? There are also those who prefer to specialize in a particular sport but do not have information about their results in each of the various competitions where they bet. For these reasons, it is important that bettors document what sport and competition they are betting on.
Analyzing your results in each sport and competition is fundamental to long-term success. Your betting method may be profitable in the Premier League, but it is a disaster in La Liga. When you create betting history this information will allow you to know where you are most profitable, so you can invest more in those sports and competitions and less in those where you are losing money.
Define odds intervals
Just as there are punters who bet on different sports, there are also punters who specialize in different types of odds. Some bettors are more profitable betting on favorites while others prefer to bet on underdogs. Regardless of your style, it is very important to document the odds you bet on.
In addition to recording the odd of each bet, you can also set odds ranges for your bets. We suggest you use the following odds ranges:
- 1.01 to 1.24
- 1.25 to 1.49
- 1.50 to 1.74
- 1.75 to 1.99
- 2.00 to 2.99
- 3.00 or higher
Our suggestion is that you classify your bets according to the odds range and analyze your profitability in each range. This way you will be able to determine which odds range you will be most profitable in the long run when you create your betting history.
Register closing odds
One of the most important values for professional gamblers is the closing odd. This term refers to the closing odd, i.e. the odd that was registered at the time the game started. From a theoretical point of view, the closing odd is considered the fair odd of a certain event. If the Liverpool closing odds to win are 2.00, this means that the fair probability of Liverpool winning is 50% if it converts the odds into probabilities.
Having the closing odds documented is critical to determining if your method is on track. Betting with value is the key to success and this is only possible if you get higher odds than the closing odds. For this reason, we recommend that you always add the information of the closing odd to create as complete a betting history as possible.