Advantages of Tracking Your Bets Using a Spreadsheet

Last updated on December 17th, 2021

In sports betting, record keeping spreadsheet is always a good idea so you can closely monitor your wins and losses, plus to identify any trends that may eventuate over time.


This consequently allows you to recognise where your strengths lie and where improvement is needed.


It may seem unnecessary to record every single bet on an excel spreadsheet or google sheets, the positives attached to this can be huge if you’re diligent and serious about being successful in your sports betting performance.


Trying to be a profitable punter? Check out our guide to becoming a professional sports bettor.


What is a Spreadsheet for?


Recording your bets also gives you an idea of what your overall win percentage is and presents you with the information you need in terms of managing your bankroll and sticking to your principles.


Losing track of your wagers can often lead you down the path of betting more than you should be, and if you’re not tracking your bets, you might lose discipline and fall into bad betting activity.


Betting Spreadsheet Sample


Another important thing this gives you is that you can properly analyse your bet result in an easily readable format.


Meaning, you can see what type of bet you placed, on what sport, at what odds and even gives you scope to note down the reason behind your selection.


This sports betting tracker allows you to evaluate regularly how you’re doing with your betting strategy and notice if you need to make any adjustments to any aspects of your selections.


Gaining vital conclusions can be very important towards your success in the long run, so you can adjust your selections and avoid repeatedly making mistakes.


To give additional details to your bet tracker spreadsheet, you can even write down factors why you lost or won certain betting markets.

You’ll never know when this information from your betting history could come in handy in the future.


Record-Keeping Sample in Betting


Once you’ve gotten into the groove and have a strong sample size to look at, this is when you should really begin to see the benefits of your record-keeping and how successful you are.


One excellent metric to use is looking at your return on investment, which will alert you to the percentage of return you are winning on the amount you are betting based on your deposits and withdrawals.


Maintain your honesty when it comes to tracking your betting behaviour. It is an additional thing you need to consider, or it’s no use omitting bad losses from your spreadsheet to make your overall figures look better, as this defeats the purpose of using this tool efficiently.


All in all, if you’re serious about winning any bet type, keep updating your records, there’s every reason to use a spreadsheet that enables you to gain an edge on your way to becoming a successful bettor. Register with VOdds and use these tools today!


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