Primarily, if you are losing money hand over fist, you need to know. The psyche of the gambler has an uncanny habit of remembering the big wins and managing to sweep the losses under the carpet. Putting the bets on record is an eye-opening experience. Do those little losses really add up to all that? They certainly do, I’m afraid. Your records should also help pinpoint the best and the worst of your betting habits.
The more detail you can put in the better, but the basics have to include what the bet was, the price, the stake, which company and the profit or loss. If you can go as far as a few words on what your reasoning for the investment was, so much the better. After only a couple of months, I promise you will have learnt something you never realized. Maybe it will be the disproportionate number of times you buy a market instead of selling it.
Maybe it will highlight a losing run on a particular sport or certain type of games (maybe lower division football matches or 18-hole golf match bets). Hopefully, it will also highlight where you make your money and the sports where your knowledge and insight is paying off. Even if you are not keeping a record of your win and loss history, rest assured that the spread firms have done.
