Some beginners tend to believe that account of bets is an absolutely unnecessary thing. Indeed, why do you need something to write and count if you can just place arbs and win?
I should tell you up front that such an approach of arbing will not lead to anything good. It’s necessary to keep account of your bets for successful work. You have to understand that you are playing for money, invest your funds in arbitrage betting, and any investments require careful attitude toward them!
In addition, the report of stakes is extremely important for the following reasons:
First, you will be able to keep track how effective the chosen game strategy has turned out to be and, if necessary, change it to a new, more profitable one.
Second, through the account of bets, you will be able to evaluate and improve the efficiency of using your bank. This moment is very important as for successful work with arbs it is necessary that your money is always “in circulation” rather than hanging a dead weight on the accounts of payment systems and bookmakers.
Some arbers kept account of their betting and continue to do so in a regular Excel spreadsheet or even in a notebook. However, there are no special advantages in these methods, especially if we’re talking about records in a notebook. But there is an alternative as technical progress doesn’t stand still.
For instance, our service offers a handy tool named “Accounting” through which you can keep reports of your bets, payment systems and even fill in the data on deposits/withdrawals from bookmakers.
If we’re talking about working principle of accounting option, it is as follows:
You choose arbitrage situation you’re interested in, enter all necessary data on stakes amount in the calculator, and then click the icon “Briefcase” in the bottom left corner. At the same time, all data on the arb (bookmakers, bet amounts) are automatically transferred to the section taking into account your stakes. This info will be immediately available for viewing.
Actually, I should say that “Accounting” section is a whole set of useful features that will help you in reporting on bets. This section is situated in “My Account”, and for user convenience, it is divided into several tabs: “Dashboard”, “Stakes”, “Your Bookmakers”, “Your Payment Systems” and “Settings”. Each of them, in turn, contains a number of useful functions for creating stakes report.
For example, “Dashboard” tab displays your balance as well as a list of bookies with a total income, number and amount of bets on each of them.
Moreover, the bookies are being created automatically after stakes data transfer from the calculator. However, you can add new bookmakers manually. There's also shows your profit for days/months in a handy table.
As for “Stakes” tab, here is stored all the information about your bets, deposits, and transfers. These data can be easily sorted by date, bookie, transaction type (stake, deposit, transfer, etc.) or sport. You can also find a bet on given description or its status (win, loss, draw).
Significantly that transferred bets from the calculator are mostly calculated automatically. But even if it didn’t happen, you can manually set the final result of the event. It is also possible to make other changes in the bets and add them by yourself. Data on deposits/withdrawals from bookmakers can also be added manually.
“Your Bookmakers” section contains information about bookmakers where you have bet. As mentioned above, they are automatically transferred from the calculator, but you can always add them manually.
It’s noteworthy that in this tab you also have the possibility to specify several parameters, namely: is this or that bookmaker the main one and whether it should be displayed in the “Dashboard”. You can also delete the bookmaker.
What concerns “Your Payment Systems” section, here you can add a payment system you use (Skrill, WebMoney, Qiwi, etc.). “Settings” tab allows setting the currency and automatically calculate your bets.
As you can see, user-friendly interface and extensive functionality of our “Accounting” tool allow keeping a detailed report on arbitrage betting. At the same time, report creation doesn’t require serious efforts from the pros.