The importance of keeping accurate and detailed records is crucial for the serious sports investment follower. The task takes more effort than you would assume, and is a task that is easy to forgo for periods of time… Only then find yourself stuck with a task that is not only daunting, but more difficult than it should have been.
– Look to regularly update your spreadsheets – at the least weekly, but preferably daily.
– List the obvious information – price taken, amount wagered, and result. Also consider including the bookmaker used, price movements on the market, a comment on the reason for the bet and other information crucial to the betting position (such as key injuries pre-game that affected price etc).
– Track your profit and loss concurrently – in a chart format.
Be vigilant…please! It’s the key to profits.