Sports betting excel sheet
Tracking your sports bets - why do it? If you hang around circles of avid sports bettors or consider yourself one, you've heard of the importance of tracking your sports bets. For those who just throw a few bucks on a big game like the Super Bowl or World Series we like to call them "weekend warriors" , tracking isn't as important because the main priority is just to enhance the entertainment.
Let me put it this way You can spend countless hours researching before a game, looking across sites from OddsChecker to ESPN to find key pieces of insight to bet with What are the benefits of tracking your bets? You can find what bet types you excel at. By tracking your bets, and grouping the data by bet type spreads, totals, moneylines, props, parlays, teasers you can quickly find out what types profit you the most, and which ones cause you to lose your bankroll to the books.
Learn what leagues you profit from the most. This is a big one, and although you probably have a good idea of what leagues you're best at, grouping your bet data by league can greatly improve your chances of figuring out exactly what is causing those wins on your NFL bets, and causing those big losses for NHL bets, for example.
Spot any favoritism or biases you have. I spoke with a semi-pro bettor named William after the NBA season. Will told me that after the season, he broke all his tracked bet data down by team and compared it to the research he had done before he placed each bet. He realized that there were at least 15 times he lost a bet where his research had pointed him to bet on one team, but his favoritism caused him to bet on the opposite team!
Crazy right? Think of all the biases that could be keeping you from making the right decisions. The ability to follow your money. By this I mean knowing where your money is going, where you are putting the most in, where you are losing the most, and what areas you are profiting the most This is just a snapshot of the benefits of tracking your sports bets. Now, the obvious actions remain which are doubling down on areas where you excel, reassessing your strategy on areas you are losing the most, and avoiding giving into any biases you have when your research points you in one direction!!
What's a GOOD way to track my sports bets? Spreadsheets For those that are looking to dive headfirst into tracking their bets, there are a number of Excel and Google Sheet templates to save you the upfront time of creating one yourself. Some examples include Sportsbook Scout's bet tracking spreadsheet , this one from aussportsbetting. These templates look pretty scary at first but start by only filling out the basic information as you place each bet, and when you become more accustomed to it, start adding the more complex data.
The in-built formulas automatically calculate: Money available in each of your accounts Total earnings The most profitable bet types Your potential earnings Your sports bets Excel tracker is free to download and use, via the link located above. How to use the sports bet tracker Settings This Excel file is made of 6 layers. To move between the sheets, click on the bottom tab of the table.
The green tabs are used to enter your data. The blues ones are where you generate information and statistics. You can enter the data of your choice. However, be careful to respect the data format of each box. These examples are here to show you how to enter a bet or designate him as the winner. You will need to remove the existing results so that your subsequent results are fair.
Note: this betting management file is unprotected. You can enter your data freely. The settings function is the heart of the whole sports bet tracker.
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This makes it quick and easy to get your bets in once you are ready. Sports Betting Odds Comparison Tool Bet Types The most popular bet types are available: Point Spread Moneyline Total When viewing moneyline odds, the spreadsheet also displays a percentage that represents the implied win percentage. What is Market Hold and why is it important?
In terms of sports betting, Market Hold represents how much vig you are betting into for a given game. Market Hold is important because it will help you bet into favorable markets and give you a better chance at profiting long term. As you can see below, each sportsbook has slightly different odds for each side. The best odds for each side are automatically highlighted in green. To calculate market hold, take the best odds for each side, add the implied winning percentages together, and subtract by one.
In some scenarios, you are able to find a negative market hold. In this case, you would have an edge on the market. If you were to bet the same amount on each side at the appropriate sportsbook, you would lock in a profit. Alternatively, if you blindly bet into just one side of this market, on average, you could expect to make the equivalent of the market hold. Without knowing anything about the game or teams, using the odds comparison tool will give you a huge leg up simply by betting the best numbers available.
The lower the market hold on the game, the better chance you will have to win long term. Live Betting Odds The sheet will also update with the live lines for these bet types when available. Use this bet tracker to help analyze your performance. Download the free sports bet tracking Excel spreadsheet below to get started: Want the bet tracking spreadsheet fully unlocked?
Buy Now 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. Getting solid closing line value on NFL point spreads? This spreadsheet allows you to answer questions like this and more. This is the only place information is manually entered.
Once the data is entered there, all other tabs will automatically populate. 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.
All of these are dropdowns that are pre-populated based on the information you enter in the Bet Log. This tab holds all of the lookup information for the dropdowns throughout the spreadsheet. Again, the cells available to modify are in yellow. 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.
All you need to do is input the odds you placed your bet at as well as where the odds closed. Profit Profit is about as simple as it gets. Are you making or losing money?
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Alternatively, if you blindly bet into just one side of this market, on average, you could expect to make the equivalent of the market hold. Without knowing anything about the game or teams, using the odds comparison tool will give you a huge leg up simply by betting the best numbers available.
The lower the market hold on the game, the better chance you will have to win long term. Live Betting Odds The sheet will also update with the live lines for these bet types when available. Live odds are particularly interesting as lines can get really out of wack between sportsbooks, representing an opportunity for you. Why is comparing sports betting odds important?
Using odds comparison services is an easy way to get an edge. Getting the best possible price is one way to help you win at sports betting long term. Imagine you are going to buy a new laptop. What would you do? For me, once I found the laptop I wanted to buy, I would shop around for the best price. Just a little bit of research would likely save you a lot of money. The same applies to sports betting odds. The nice part is all of the price comparisons have been done for you, and are automatically updated every minute.
Using tools like this will help you win at sports betting in the long run. Use this bet tracker to help analyze your performance. Download the free sports bet tracking Excel spreadsheet below to get started: Want the bet tracking spreadsheet fully unlocked? Buy Now 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. Getting solid closing line value on NFL point spreads? This spreadsheet allows you to answer questions like this and more. This is the only place information is manually entered. Once the data is entered there, all other tabs will automatically populate. 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. All of these are dropdowns that are pre-populated based on the information you enter in the Bet Log. This tab holds all of the lookup information for the dropdowns throughout the spreadsheet.
Again, the cells available to modify are in yellow. 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. All you need to do is input the odds you placed your bet at as well as where the odds closed. Profit Profit is about as simple as it gets. Are you making or losing money?
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You can add W or L at the end of a team name.
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