Sports Betting Record Keeping Spreadsheet
- Sports Betting Excel Template
- Football Betting Spreadsheet
- Sports Betting Record Keeping Spreadsheet Free
The easiest way to keep a record of your betting is on a spreadsheet. If you are going to go down this route there are a couple of options. Sports Betting Legal In World Home Affiliate Marketing Sports Betting Best Place To Find Sports Betting Record Keeping Spreadsheet By Etowah in Oak Hill,+West Virginia. We have great sports betting tools and tips for up. When betting on sports, it is important to have the right tools and tips. Our sports betting tools and tips include spreadsheets to assist you with your sports betting. The Bet Tracker and the Arbitrage Calculator are available in Microsoft Excel spreadsheets. The Importance of Record Keeping. So, why on earth should you ever worry about keeping records of your sports bets? Well, if you’re taking your sports betting seriously, you need to treat it like a business.
The differences between those who make money from betting and those who don’t are often quite subtle.
Ask any losing gambler if he keeps a record of his betting profit and losses and they will no doubt give you a funny look.
The losing gambler thinks of gambling as entertainment and views tracking their profits and losses as unnecessary work.
A winning bettor takes their betting seriously and will treat it as they would a business.
Most successful businesses will record a total of their profits for the day at the close of business that day.
If you want to be a successful bettor you should treat your betting seriously and emulate the practices of a successful business.
Some people might say that this is a waste of time and that tracking your gambling profit and losses will not magically make you a more profitable gambler.
I however disagree. By knowing how much money you are either winning or losing and being forced to acknowledge this number each and every day will make you think about your gambling and consider whether or not you need to change anything.
Sports Betting Excel Template
If you can see that you are consistently losing money or just breaking even you will be more likely to try and figure out how you can improve your betting than if you didn’t have to look at your profit/loss every day.
Conversely if you are making a profit from your betting you will be encouraged by this to continue doing what you are doing and not have any daft impulsive punts that may hinder your profits.
Another excuse people will have for not doing this is “I know how much I’m winning.”
Unless you only place a couple of bets a week and placing all your bets at the one bookmaker then I can guarantee you do not know how much you are winning or losing.
You may have a rough sort of idea based on how much money is left in your accounts but you’d be surprised at how far off most peoples rough estimates tend to be.
How to record your profit/loss
Gone are the days where you would have to record your profits and losses with pen and paper. (although you could still do so if you wished)
The easiest way to keep a record of your betting is on a spreadsheet. If you are going to go down this route there are a couple of options.
Microsoft Excel
This is what I currently use to record all my bets. It’s by far the most user friendly spreadsheet program I have used but Microsoft’s pricing for this software is a little extortionate setting you back £69.99.
Free Alternative – Open Office
If you don’t fancy paying for excel and are looking for a free alternative then I would recommend using Apache Open Office.
Open office is completely free and does practicality the same thing that excel does.
I have always found the program to be slightly clunky whenever I’ve used it in the past but it gets the job done.
I’m also pretty sure that clunkyness was more to do with me not being used to using the program rather than the program actually being poorly designed.
Spreadsheet for Download
I’ve created a simple blank spreadsheet that you can use to record your results. You can download it here.
The spreadsheet contains various columns most of which are self explanatory but I’ll quickly go over each of them.
- Date – The Date which the bet will settle
- Bet Source – Either the tipsters name who advised the bet or whether it was your own selection or system etc.
- Bookmaker – The bookmaker or exchange where the bet has been placed
- Stake – How much money you bet on the selection
- Selection – The selection which you bet on
- Event Name – The name of the event you are betting on
- Event Time – The time the event starts which you are betting on
- Profit/Loss – The profit or loss that resulted from the bet settling
- Running Bank – Your total profit/loss of all your bets to date(I have set this to auto calculate once the profit/loss has been entered)
Download Spreadsheet Here!
I hope I have convinced you of the merits of recording your results.
You even have a blank spreadsheet ready to download and input your results so you have no excuses.
Until next time,
Kenny Turnbull
Download my free exclusive guide on how I make an extra £2,000 extra a month income from betting...easy to follow guides for a total newbie!
Ever wondered how you are actually doing in sports betting?
Just like tracking your finances can be an eye opening experience (I spent how much at restaurants last month?!), tracking your bets can shed some light on your performance.
Download the free sports bet tracking spreadsheet below to get started (available for both Excel and Google Sheets):
Bet Tracker Spreadsheet: Instant Insights
If you want to measure your performance and see where you are succeeding and failing, you need to track it.
With this free tool, you can see your performance broken down by various dimensions.
Have a great ROI on betting NBA 2nd halves? Getting solid closing line value on NFL point spreads? This spreadsheet allows you to answer questions like this and more.
How to use the spreadsheet
While the spreadsheet is pretty straightforward, I’d like to walk you through how it works.
How to track sports bets
Everything lives in the “Bet Log” tab. This is the only place information is manually entered. Once the data is entered there, all other tabs will automatically populate.
In the “Bet Log” tab, blue columns are required while red columns are optional. The more information you input, the more useful the spreadsheet will be.
Entering things like the closing line, while slightly annoying, will also be the most important to your success.
How to analyze performance
Each tab will have different graphs and tables that show your performance. The beauty of this is that you can filter the data by any dimension you like.
Any yellow cell is an “input” cell that can be changed. All of these are dropdowns that are pre-populated based on the information you enter in the Bet Log.
How to add more leagues and teams
To add new leagues and teams, you will do so in the “REF” tab. This tab holds all of the lookup information for the dropdowns throughout the spreadsheet.
Again, the cells available to modify are in yellow. You can add the following dimensions:
- Leagues (ex: WNBA)
- Teams (ex: Chicago Sky)
- Tags (ex: 2nd half)
Bet Tracker Spreadsheet Metrics
Deciding what to track is important in determining how you measure success. The spreadsheet tracks the following key metrics:
Closing Line Value
Closing line value (CLV) is a measure of how much better or worse the odds you bet at were compared to where they closed.
If you believe the markets you are betting into are efficient (NFL point spreads, MLB moneylines, etc.), then CLV is a great predictor of long term success.
All you need to do is input the odds you placed your bet at as well as where the odds closed. Preferably you use a market making sportsbook like Pinnacle to decide what the “true” closing line was.
Profit
Profit is about as simple as it gets. Are you making or losing money?
While this is the “bottom line”, surprisingly it isn’t always predictive of long term success. Still, you will obviously want to see how much money you have made or lost.
ROI
This is what most people tend to look at. It is a measure of how profitable you are relative to how much you are risking.
While at the end of the day, the money in your pocket is what matters, this metric focuses more on results rather than process and is a measure of efficiency.
ROI isn’t as predictive of long term winning as CLV, but is useful to track to see where you stand.
Risk
This one is simple, yet will likely give you insights into where you are putting your money.
Football Betting Spreadsheet
If you have a model, does it consistently value the Dallas Cowboys differently than the market? Thus making many of your bets on the Cowboys? Analyzing your risk by league/team/bet type can give you these types of answers.
Bankroll
Sports Betting Record Keeping Spreadsheet Free
Bankroll will track our running total of how much money you have in your accounts across all sportsbooks. You can also see this trended over time to help you see any changes in your betting strategy and how that has affected your bankroll.
It is very useful to see, at a glance, where your money lies. Is 95% of our bankroll at FanDuel? Maybe you should shift some to DraftKings.
Bet Tracker Spreadsheet Dimensions
Having these metrics available is important, but insights really come from slicing the data by different dimensions.
League/Team
Tracking your performance by league or team can give you clues into where your strengths or weaknesses are.
Do you watch every second of every New York Knicks game? Think you have an edge on Knicks games? You can find out using the spreadsheet.
Same goes for leagues. Do you follow NFL closely but use strictly numbers for NCAA Basketball? Compare the performance of the two and see what’s working.
Bet Type
Looking at performance by bet type can also shed some light on your process, especially if it is model driven.
Track your performance by the following bet types:
- Spread
- Moneyline
- Total
- Prop
- Future
You can also use the “Tag” field to designate special types of bets. For example, if you want to see your performance on moneylines for NBA 2nd halves, you would put “2H” (or something similar) in the Tag field and “moneyline” in the bet type field.
Date
A common way to analyze performance is to look at metrics trended over time.
Look at any of the metric/dimension combinations above trended over any time period you’d like.
Want to see your performance over the last 14 days? Or how about the last 12 weeks? Both are possible here.
Google Sheets Sports Betting Tracker
The sports betting tracker is also available on Google Sheets. While the features are the same as the Excel file, Google Sheets has some notable benefits:
- Available/online at all times
- Can enter bets on your phone using the Sheets app
- You don’t need to be at a computer to enter your bets
- Google Sheets auto saves any changes
- Allows multiple users to be in the sheet at the same time and make changes