How To Record Your Bets & Improve Your P+L

Do you record all your bets on a daily spreadsheet? Why not; afraid what you’ll find out? You might be surprised.

We know that it takes effort and discipline but it’s the difference between winning and losing.

A lot of punters are scared to find out how they’re doing. They prefer to have an inflated view of their betting balance rather than find out their weaknesses.

You might be a profitable punter on Saturdays because the racing is better and you get the morning to do form. Meanwhile, you’re Friday night fluttering has no preparation, and is literred with social footy betting. Or you might be sharp at Victorian metropolitan tracks but giving it all back in Adelaide.

There’s only one way to find out.


External Resources

Until we develop our own Betfair spreadsheets, we recommend:

Or start your own. It can be as simple as deposits and withdrawals from all of your betting accounts. Then add extra stuff like event/race, selection/horse, odds and bets size.

We also strongly encourage you to record the Betfair Starting Price (BSP) against your bets. You’ll likely improve your profitability just by using this product. Additionally, if the odds you take consistently beats the BSP then your strategy is profitably. You might only need minor refinements to sky rocket your success. Then you can look at automation.


Betfair is a low margin exchange like Airbnb and Uber. Unlike bookies, we want winners.


Conclusion

Professional punters have discipline. They know what sports or specific events suit their skill set. And what doesn’t. The more you can reflect on your strategies and hold yourself accountable, the more successful you’ll be.

For more pro punting incite, bookmark The Hub.


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