The NBA season just came to an end and we are still a couple of months away from the start of another season in the NFL. This temporary lull in the sports betting calendar presents the perfect opportunity to stop and make an honest assessment of your current sports betting strategy in three main areas; success by sport, success by types of bets placed and your overall betting diversity.
If you consider yourself an avid sports bettor with accounts at multiple online sportsbooks, then it becomes very important to know where you stand with each of the different sports that you bet on over the course of the year. This should actually be broken down by league so you have an accurate picture of your winning percentage for college football separate from the NFL. This would also hold true if you bet on both college basketball and the NBA. It is good to know where you have had your best success and it is also good to know which sports took their toll on your overall betting bankroll.
Today’s top online sportsbooks should be able to provide all the information you need to perform a thorough analysis of your betting history for every sport you may have bet on over the past 12 months. You can use this information to adjust your strategy in advance of a new season of betting on a sport by sport basis. This will give you a chance to maximize your strengths while minimizing your weaknesses. You might want to bump up the action for the sports with the best return on investment and eliminate the ones altogether that ended up costing you money.
You should also do a thorough analysis of your return on investment by types of bets placed. Even if you pretty much stuck to the basics with straight bets on sides and totals, you should still know where you stand between the two. If you expanded your sports betting options to things such as parlays, teasers/pleasers, if-bets or any other type of exotic wagers, then you should definitely have some analytics on what worked and what did not. You may still have a fond memory of that three-team NFL parlay you cashed in on early in the season, but the real value in the numbers is knowing how you did over the course of every parlay bet you made last year.
Once again, the goal here is to change you betting strategy to enhance the type of bets that boosted your bankroll while eliminating the ones that were a total drain on your available funds.
The final area of your sports betting strategy that should be analyzed is the overall diversity of the action you placed. This mainly refers to wagers on actual games verse any bets you placed on futures and props over the course of the year. You might not even remember losing a big chunk of money on all those crazy Super Bowl props you bet on or the money you lost on the bets you made for any NFL or NBA futures odds, but at the end of the day they are still a part of your overall betting picture. There is no doubt that betting futures and betting props add a different level of excitement to the action on the field, court or ice; however you still need some level of accountability for the actual results of these types of wagers.
Tracking and measuring your past sports betting results is one of the best ways to develop a plan for the future that gives you the best chance at creating a positive return on your overall sports betting investment.