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Why use a sports betting performance tracker spreadsheet?
Every successful sports bettor needs a reliable tool to monitor their unbiased overall performance summary.
A detailed betting history helps identify profitable bet types, the most lucrative sports and leagues, and which bookmakers offer the best odds. It also shows which sportsbook accounts yield the most profit and where you’ve withdrawn the most funds, among other insights.
By paying close attention to your betting history and bets sheet, you can make the difference between losing and winning. Knowing the direction you’re heading in is crucial to understanding whether your betting strategy
Exploring the World of Sports Betting Tracker Software
Professional gamblers recognize the importance of analyzing profits and performance to maintain or achieve success in the long run. While Excel is a widely-used option for tracking bets, there is an array of other software and tools designed to meet various needs and preferences. This article examines different sports betting tracker software, providing more information and insights to help you make an informed choice.
- Analyzing Performance with Various Tools:
A wide range of tools is available to help sports bettors analyze their performance. Some opt for advanced mobile applications that allow users to input their wager, bet type, and other basic information for automatic calculations. These applications streamline the tracking process and make it easy for bettors to monitor their bets on-the-go.
- Google Sheets or Excel Betting Tracker Spreadsheet for Full Control:
For bettors who prefer to have complete control over their sportsbook accounts and bets, Excel betting tracker spreadsheets are a popular choice. Users can create a simple Excel file or Google Sheet that suits their specific needs and betting style. These spreadsheets offer a high level of customization and accessibility, making them an ideal option for many sports bettors. The choice ultimately depends on personal preferences and the desired level of control over the betting process.
The Popularity of Spreadsheets for Tracking Sports Bets Among Bettors
Many websites and applications offer programs to analyze betting performance, often presenting impressive performance graphs and data. However, these tools can sometimes limit users in terms of games, teams, leagues, and odds. With the evolution of sports betting and the introduction of new leagues and sports, bettors require a more flexible solution to accommodate their unique betting habits. This is where spreadsheet-based solutions like Excel and Google Sheets come in, offering unparalleled customization and adaptability.
Limitations of Third-Party Betting Trackers:
While third-party betting trackers provide useful insights and visualizations, they often limit users in terms of the games, teams, leagues, and odds they can track. Additionally, they may not include special bet types offered by local bookmakers, which can be crucial for some bettors.
Advantages of Spreadsheet-Based Betting Trackers:
Creating a personalized tracker spreadsheet using Excel or Google Sheets provides numerous benefits, including:
- Customization: Users can modify the spreadsheet to suit their specific needs, adding unique odds, teams, or bet types.
- Flexibility: Bettors can create new tabs for tracking funds and performance summaries for other gambling activities, such as casino games or poker.
- Ownership: Users have complete control over their data, which is stored on their computer, ensuring privacy and security.
The popularity of spreadsheets for tracking sports bets among bettors can be attributed to the customization and flexibility they offer. By using a spreadsheet-based solution like Excel or Google Sheets, bettors can tailor their tracking systems to fit their unique betting strategies and preferences.
This level of personalization, along with the ability to manage data securely on their own devices, makes spreadsheet-based betting trackers an appealing choice for many sports bettors.
Collaboration and Accessibility:
Another advantage of using spreadsheets for tracking sports bets is the ease of collaboration and accessibility. Google Sheets, in particular, allows multiple users to work on the same document simultaneously, making it convenient for bettors who collaborate with friends or betting groups. Furthermore, these tools can be accessed from any device with an internet connection, enabling users to keep track of their bets and performance from anywhere.
Creating and managing a custom spreadsheet also presents an opportunity for bettors to learn more about the intricacies of sports betting. As they input data, adjust formulas, and analyze trends, bettors can gain valuable insights into the factors that contribute to their betting success or areas where they need improvement. This hands-on experience can ultimately lead to more informed betting decisions and better overall performance.
In summary, the popularity of spreadsheet-based solutions for tracking sports bets can be attributed to their unparalleled customization, flexibility, accessibility, and learning opportunities. By offering bettors the freedom to create personalized tracking systems that align with their unique betting strategies, spreadsheets like Excel and Google Sheets have become indispensable tools for many sports bettors.
How do I keep track of my bets?
I use Google Spreadsheet to track my bets. After I make a bet, I add all the needed information about my wagers in the template. After the bet is graded, I add also the latest odds before the event started, to track the performance against the market.
This keeps my bets organized and helps me to improve my betting skills and betting models.
How do you track CLV?
To track closing line values in sports betting you need to compare your taken odds versus the closing odds. These prices are the latest prices before the event starts and there are several services to provide this information. Oddsportal is one of them, where you can find information about the odds from opening time till kick-off time of the event.
How do you calculate closing line value?
There are two ways sports handicappers usually track their clv.
#1 Basic CLV
No vig closing line value tracking is calculating the value with no-vig closing odds. This gives us a first picture of how many times and for how much odds dropped compared to our taken odds. But it is imperfect information.
The formula to use in Google Spreadsheet=IFERROR((1/Closing odds-1/Taken odds)/(1/Taken odds),””)
#2 No vig xCLV
The more accurate information is no vig closing line value, where we compare our taken odds versus the closing odds without margins. Being a profitable bettor requires beating the closing line and beating the juice.
The formula to use in Google Spreadsheet for no vig=IFERROR((1/Closing no vig odds-1/Taken odds)/(1/Taken odds),””)
The formula to calculate fair odds (Home vs Away two way betting example – decimal odds)=1/((1/Home odds)/(1/Away odds+1/Away odds))
Does latest price on the sports betting matter?
Yes, closing line value does matter and it is important information in sports betting. This performance summary data gives you the information on how many times your bet beats the latest implied probabilites from sharp bookmakers and for how much.
This is directly the information about your betting performance against the betting market.
Such data also gives you the picture about your performance in a single game. For example if you make wagers on one team, you can come back and check your bet just before the game starts. Simply look at your bet numbers and final numbers on the market on oddsportal or any other site that provides latest free bookmaker information.
Consistently beating the closing line value is a much better indicator of successful sports betting, than other information about results. All serious sports handicappers track and pay attention to how they do against closing odds. Bookmakers identify winning bettors based on this metric.
Download our tracker spreadsheet in google sheets
My betting tracker is an example of simple performance summary sheet that can be used and modified easily. It can be used also as a excel betting tracker spreadsheet if you prefer this software.
But the most important is that you can add your own bet types, you can add any bet and data you want, no matter of the league, sport, amount of money. It is completely free and I hope it will help you identifying how to make more money and how to improve your performance.
Using betting performance sheet
After you upload it to your computer, the sheet is ready to use. At the bottom you’ll see 4 tabs:
- Tab 1: Bets
- Tab 2: Sports
- Tab 4: Glossary
- Tab 5: Options
The most important tab is the first one. This is where you will put your actual bets which you will make at your sportsbook. Every bet can be tracked in terms of units, or simply add every single bet with your actual wager in terms of money. The profit will be shown in your “currency” or betting units.
Same story is with your available funds. Your betting profit can be based on dollars, euros or simply units.
The first column represent the number of bets you make. So every time when you make a bet and place a wager with real money, simply add this info into the betting performance tables.
The second column represent the date of your bets. And then you type or select team names, game, sport, league, bet type, odds, units and if you made a profitable (W) or a losing bet (L).
The next three columns are bets information about clv.
How to make the most of it?
To succeed in the world of sports betting, it’s essential to have a clear understanding of your performance and betting history. Many bettors lack this awareness, which can lead to gambling problems or failure to make payouts. By using a performance tracking sheet, you can gain valuable insights into your betting performance and make informed decisions for future bets.
- Start Using a Performance Tracking Sheet:
The first step towards better betting performance is to start using a performance tracking sheet. Many bettors don’t track their bets at all, leading to an inaccurate perception of their performance in the betting market. By inputting your betting data into a tracking sheet, you can gain a clear understanding of your betting history and overall performance.
- Pay Close Attention to Key Metrics:
One crucial metric to monitor is how your bets perform against the closing line value (CLV). This is particularly important when betting on sharp markets, such as the NFL, NBA, MLB, or major football/soccer leagues like the Premier League. If you find that your profits are high, but your percentage of beating the line is low, it’s essential to reconsider your betting strategy and methodology.
- Customize Your Spreadsheet for Enhanced Analysis:
The advantage of using a spreadsheet for performance tracking, such as Excel or Google Sheets, is the ability to customize it to suit your needs. You can add performance graphs or other visualizations to better understand your betting trends and performance.
- Constantly Evaluate and Adjust Your Betting Strategy:
As you track your performance and analyze your data, it’s crucial to continuously evaluate your betting strategy. Identify areas where you may not have an advantage against the market and make adjustments accordingly. By being proactive in refining your approach, you can minimize the risk of things going wrong in the long run.
- Choose the Right Tracking Tool for Your Needs:
Whether you prefer Excel, Google Sheets, or another betting program, it’s essential to use a tracking tool that meets your requirements and preferences. Each tool offers unique features and capabilities, so take the time to explore your options and select the one that best aligns with your betting style and goals.
- Learn from Your Betting History:
Understanding your performance is key to success in professional sports betting. By examining your betting history and learning from your past experiences, you can identify patterns and trends that will help you make more informed decisions in the future. This continuous learning process can ultimately lead to improved betting performance and greater success in the sports betting world.
Maximizing the benefits of performance tracking in sports betting starts with using a tracking sheet and paying close attention to key metrics like CLV.
By customizing your spreadsheet, evaluating and adjusting your betting strategy, choosing the right tracking tool, and learning from your betting history, you can enhance your understanding of your performance and make better-informed decisions in your sports betting endeavors.
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