UK Horse Racing Tips

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Whether you only bet on key races such as the Grand National or the Epsom Derby or you’re a seasoned bettor who wagers every week, it’s good to know how your picks have performed over the long term. The best way to achieve that is to keep a betting log that tracks your profits and losses over time. If you do not keep a betting log already, here are just a few reasons why you should.

Monitoring Profit and Loss

Firstly, keeping a record of your returns will show you if you are in profit or not over the long-term. It’s always good to know if your current betting strategy is yielding a positive return or if you are accumulating losses. Making a profit from horse betting can be tough but keeping a log in the form of a profit and loss spreadsheet can help with your decision-making. You might decide to stick to your strategy or try to improve your results through different methods.

Identify Strengths and Weaknesses

As well as measuring your returns, a betting log can help you identify particular areas where you are more successful. Again, this can be used to tweak your strategy and improve your performance. The more information you include on your log, the easier it will be to identify your strengths and weaknesses. For example, it makes sense to include details about the race, course and distance of every wager in your place as well as details of the stake, odds and bet type. By consulting the latest horse racing results, you can also get details of the margin of victory, the horse’s age, and jockey and trainer details. You can even record information about the surface, temperature and humidity on the day.

You might want to consider a paid betting prediction tool. Many of these systems automatically log bets so you don’t have to and they also use special algorithms to identify high-value betting opportunities. This could save you a lot of time and might prove to be more profitable in the long run even after subscription costs are taken into account.

You might find that you are more successful wagering on certain markets or race types. Or you might discover you have a knack for picking long-distance National Hunt winners but are less successful on flat races. Every piece of information you gather can help you to spot trends and patterns to focus on. You can also identify bets you should avoid or look for ways to improve in certain areas to broaden your strengths.

Customised Spreadsheets

The best type of betting log is a common spreadsheet application that allows you to enter formulas that automatically calculate certain values such as profit and losses. You can also highlight winning bets and cross-reference them to find common patterns. The more skilled you are with spreadsheets, the easier it will be create custom formulas to meet your analytical needs.

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Whatever way your choose to go, any seasoned bettor will tell you that having a betting log to refer to is essential if you are serious about improving your wagering performance.

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