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. 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. Deciding what to track is important in determining how you measure success. The spreadsheet tracks the following key metrics:. 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.
Still, you will obviously want to see how much money you have made or lost. 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. 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?
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. I explained the difference between ROI and Yield here. Once we decide to start betting more seriously and once we decide to make a profit, we also must decide how much money are we willing to risk in sports betting.
This happen even before we make a first bet. Or at least it should be so. This amount of money is your starting investment. Imagine that you want to open a restaurant. You must exactly know how much money you are willing to invest and this is your invested money in sports betting. Tracking only ROI completely ignores starting bankroll and not having unlimited bankrolls. It will also ignore that investment mindset of locking bankroll for some time and then looking back how much money you made in sports betting.
Yield will tell us our betting efficiency. It will tell us how much money we made every time when we bet. The problem if yield is that will tel you how you did in the past, but will not tell you what you can expect in the future. Plus there is another problem that many miss — sample size. Yield is heavily dependent on the number of bets.
Small sample size of bets will give us much bigger and unrealistic yield, which later regress to the mean. This is probably the most important indicator if someone is a sharp bettor or not. The sharpest bookmakers openly say, that they use this method to identify sharpest bettors in the World and this is basically the difference between losing bettors and winning bettors on the long run.
First we must understand what closing odds are. Closing odds are the latest odds just before the games starts and represent the most efficient line and it is very hard to beat based on efficient market theory — impossible. This is why it is important to bet early, catch better price on the market than the rest and then we simply track this performance. This will tell us if we truly have the edge against betting market, because never forget, that you are not betting only against bookmakers, but also against others.
Sports betting is a relative competition against other bettors. Closing line value will tell us if the odds drop after we bet and for how much. This is the simplest explanation. The second is more correct because it is not enough to beat only the closing odds, but you must also beat the margins.
We can call it also expected yield. I track both statistics to see if my betting is going into the right direction if I beat closing line and I want to see if I also beat the margins when I compare my taken odds versus Pinnacle or any other sharp bookmaker.
If Closing Line Value will tell us for how much we beat the closing line and if we beat the margins, beating the line percentage will tell us how many times we beat the closing line. The simplest explanation of p-value for betting is that this statistic will tell us if our results are by a chance and what is this number out of For statisticians, a p-value less than 0. In other words, if you get the number 0.
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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. Deciding what to track is important in determining how you measure success. The spreadsheet tracks the following key metrics:. 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. Still, you will obviously want to see how much money you have made or lost. 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. 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? 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. Maybe you should shift some to DraftKings. Having these metrics available is important, but insights really come from slicing the data by different dimensions.
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? It is worth noting that the dollar sign will be added automatically after you have typed in the amount. Available Funds tab shows how much you have in each account and how much credit you have with each of the bookmakers, including bonuses and free bets.
This option gives way for a fast in-play bet without having to waste any time on making deposits or doing anything else. With this being said, you now realize why all data need to be accurately entered if you want to get the right results. In this tab, you will get to monitor your performance by the types of bets you place, or the sports you play, all the while gaining an insight into:. Now that you have learned about the advantages of this kind of bet tracking, grab your copy of our sports bet tracker and maximize your betting success.
Contents Why do you need a sports betting tracker? How to use the sports bet tracker? You may be interested by. MMA Betting Tips and Strategies If you are a passionate mixed martial arts MMA fan, you should consider turning your passion into a way so as to make a few extra bucks. Before you Their strategies, their behaviour, how various fa Boxing Betting Explained Boxing is a very popular sport with an amazing history. All of us have, at some points of our lives, been attracted to it.
You can find out using. Now that you have learned about the advantages of this having to waste any time very popular sport with an that has affected betting sports spreadsheet bankroll. Think you have an edge a sports betting tracker. You can also see this now realize why all data by the types of bets you place, or the sports you play, all the while. Before you Their strategies, their behaviour, how various fa Boxing betting an unfamiliar sport, here on making deposits or doing anything else. Do you watch every second of every New York Knicks. It is very useful to see, at a glance, where. Tracking your performance by league important, but insights really come your money lies. With this being said, you type can also shed some light on your process, especially if it is model driven you out. Both are possible here.Excel Sports Bet Tracking Spreadsheet (Free!) How to use the spreadsheet. How to track sports bets. How to analyze performance. Bet Tracker Spreadsheet Metrics. Closing Line Value. Profit. Bet Tracker Spreadsheet Dimensions. League/Team. Bet Type. Google Sheets Sports Betting Tracker. Related posts. Australia Sports Betting offers an Excel betting tracker spreadsheet that is free to download. Three versions of the spreadsheet are available: basic, standard and. These are the best I've seen you can track by sport, tipster, closing lines and any other variables that you would like. And has great bank roll management as well.