Knowing whether you’re winning or losing at absolutely anything should be the easiest thing in the world. It’s very much a situation of ‘either, or’. But surprisingly enough, especially when on the topic of sports betting, it can be precariously tricky to tell the difference between winning and losing. Bettors often want to know whether they truly are beating the system. This is mainly because when on a winning streak, it’s crazily easy (and even tempting!) to assume that since you must have done something right somewhere along the line, you’re ‘smart’ enough to make it last.
But the reality is somewhat more of a muddle. Instead of referring to ‘winning’, we should rather refer to ‘winning on average’. This creates a picture way more in line with reality. And when approached correctly, even the win/loss balance can create a great deal of value.
Here are some useful pointers when trying to determine your average win/loss ratio.
To Win is to Bet
That betting is the first step to winning seems stating the obvious. But in reality, its everything but obvious. Many betting hopefuls first want to try and run a series of make-believe bets in order to ‘test the waters’, so to speak. Nothing could be further from the reality of the matter as the only way to win is to actually wager a real bet.
Take Proper Notes
Keeping a proper record goes a long way toward reaching accurate conclusions regarding win/loss ratios. Be elaborate – make a note of the type of bet, the amount of money wagered on that bet, and also the result of each bet.
Keep at the practice of comprehensive record keeping until such time as you’ve managed to accumulate a reasonably sized record. When it comes to determining whether your winning on average or losing on average, the bigger picture will reveal all.
The Value of ‘Why’
Not only is it important to determine ‘whether’ you’re winning, but also why you proved successful at winning a particular bet. The ‘why’ of the win can generally go one of two ways. What this means in simple language is that you either won the bet because of having had access to more information than everyone else, or that you managed to make more effective use of the available information than did everyone else.
Be 100% Honest
The value of honesty-to-self cannot be stressed sufficiently enough. It’s not enough to have imagined yourself winning a bet. A win is only a win when it leads to actual money in the bank. And this truth goes hand in hand with the definition of insanity so often quoted in as well as out of context. If what you’re doing and how you’re doing it aren’t working, don’t be afraid to try changing direction. Doggedly chugging ahead at a strategy that quite frankly isn’t working is a foolish and losing approach.
Be honest and be realistic. You won’t regret it.