Once you have mastered the art of bankroll management it is time to start tracking each bet you make. In the world of sports betting, numbers are king. And tracking your bets properly makes you gambling royalty.

The Sports Betting App is an easy way to keep track of bets made with different bookmakers by allowing you to store bets made, calculate odds and keep record of all your bets. Imagine having all that. Is a simple, stripped-down sports betting app that allows you to estimate payouts for parlays with up to 12 legs/picks included. Odds can be entered in decimal, American, or fractional format. Public Bet% vs Money%. The number of points a team is expected to win or lose. If the Patriots are 7.5-point favorites and you bet on them, NE needs to win by 8 or more for you to win.

In short, bet tracking is the practice of tabulating your betting history. Serious bettors will tally every “who”, every “when”, and every “how much” for all of their wagers. This allows them to look over their betting history, learn from any potential mistakes, and keep a careful account of their finances.

Average gamblers “track” their bets by looking at their bottom lines. For those of us who don’t want to be average, that’s not enough. Sports gamblers, novice, and veteran alike are guaranteed to improve their game with this simple hack.

How To Start Bet Tracking

The easiest way to begin tracking your betting is to download an existing Excel spreadsheet. This takes out much of the legwork needed to create your own tabs and internal calculations. Once you have your spreadsheet up and running, you can quickly navigate between tabs and begin plugging in your information.

Settings

The first sheet (in the spreadsheet linked above) helps you establish some basic information, like where you bet and what sports you bet on. It is important to fill this part out because your answers will populate dropdown windows in the rest of the spreadsheet.

This tab also allows you to determine your odds type (American, for most of us) and what your unit bet size will be (e.g. $20).

Deposits And Withdrawals

The next sheet provides you an easy way to track how much money you have put into and taken out of your betting accounts. If you put, say, $200 into your DraftKings and FanDuel accounts, you would put that info there.

This sheet also lets you track any bonus offers or free bets you may have received. This can be extremely helpful as it will enable you to keep track of the number of times you have rolled over your bonus offers. That way, you know when you can finally withdraw those funds.

Bets

The real action takes place on the Bets sheet. First, plug in the background information – the bookmaker, sport, time, type, and selection for each bet you place. Next, plug in how much you staked (probably one “unit bet”), the odds you received (e.g. +120 or -110), and the outcome.

The final section on the Bets sheet cranks the numbers out. It displays what you risked, what your payout was, and what your profit or loss from each of your bets was. Besides tracking your finances, these columns will also help you to be mindful of how much you stand to lose and gain before you place any bets with your sportsbook.

Available Funds

This sheet simply lists your net winnings and tells you how much you can withdraw at any given time. However, if you utilized a bonus offer it will be important to remember how many times you need to bet it through to withdraw (hence the deposits sheet).

Performance Summary

When it comes to improving your abilities as a gambler, the Performance Summary sheet is your greatest asset. This sheet breaks down your gambling history across different betting categories and gives you the chance to see where you’ve been falling short and where you’ve been most successful.

The insight needed to improve your game comes from studying your past performance. This sheet gives you the vital stats to do just that. It quantifies your performance across sport and bet types, giving you a clear way to assess your winning percentage and net profit in each domain.

Once you have bet for a long enough time to accurately evaluate your strengths and weaknesses, you can decide when and how to tweak your strategy. Maybe you win most of the time when betting on MLB but lose on the NFL. Maybe you outperform betting the moneyline rather than betting the over/under. Now you can use this info to tweak your strategy as needed.

Performance Graph

The last sheet provides you with a graph to see how your betting performance has oscillated since you began. Visual aids like this showcase your trajectory as a gambler. It also serves as a potent reminder that we all go through ups and downs in our betting – so no need to get emotional.

Why You Should Start Now

If you’re serious about improving your game, the effort required to track your betting is well worth it. It helps you break bad habits and cement good ones. It helps you keep a careful eye on your finances. And, yes, it will probably help to make you a better gambler in the long run.

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.

Betting Tracker App Download

Risk

This one is simple, yet will likely give you insights into where you are putting your money.

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

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.

Best App For Sports Betting

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