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The goal of every sports bettor is a profit and success and every time when it comes to profit we must track our performance. It is fundamental aspect of successful sports betting and it is nice to see more and more sports bettors keep tracking their bets. It is very important to keep accurate and honest records for your betting activities. Many sports handicappers use betting spreadsheets to track betting records, but not many track their performance properly. This is why I will point out important statistics that everyone must start tracking and will help you better to understand your betting activities.
Anyone who is serious about making money in sports betting, will need to see at some point if sports betting activities brings him profit or just joy with his friends. Only if you keep tracking your bets, you will see how much money you make, how much you have invested and what is maybe even more important — in which direction your sports betting investment is going.
One of the scariest things in sports betting is creating an illusion after couple of bets that someone is a winning bettor, but in fact he just win because of luck. Once you decide to bet more seriously, the first thing is to learn and understand sports betting and betting market.
The next thing is to establish a sports betting bankroll and lock it for longer period of time. This is the money that will work for you. If you will not have the edge and if you will lose in betting, you will be out of the game. And tracking your bets will give you the answer on this. Remember that poor bet tracking record not only that it will not help you, it can be bad, because either you create wrong illusion about your betting skill, or you follow sports handicappers that have no edge.
I believe that many of you already track W-L record, maybe average odds, profit for sure, maybe game dates and game time, different bet types, etc…. But here are 5 statistics every sports bettor must track to have better idea about his betting performance. The best chance to finish your betting career with profitable result is to start with investment mindset.
I see a lot of sports handicappers that confuse Yield and ROI and the main difference is probably in the mindset. 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. Selling of picks is not allowed here and will be removed by the moderators.
What method do you guys use to keep track of your bets? Excel Sheet. Here you go! I am a bot. Creator Unique string: c This bot wants to find the best and worst bots on Reddit. You can view results here. Even if I don't reply to your comment, I'm still listening for votes. Check the webpage to see if your vote registered! Discipline v important to avoid self-destruction in this hobby imo.
Doesn't matter how stable your financial situation is. More important than anything you will read in this thread: track how you are doing against the closing line. Outside of that, use Excel. This is my spreadsheet. Rather minimalistic but has most of the betting stats that are relevant. Excel or Google sheet is usually the way to go. Formulas are technical but not hard. Worth the time investment.
Helps with your decision-making as you see your successes and failures, helps to build discipline. If that's something you're interested in at least.. I have an Excel sheet that's formatted exactly as my betting history page at my books. It's a simple copy and paste. Then I have a few cells that have basic formulas to calculate my winnings, ROI, etc. Very easy process. Not realistic for those of us using multiple books and multiple sports which everyone should be doing anyway , nobody can keep track of all that.
Some of us also like to know if we're making or losing money as well.
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The app is extremely user-friendly and offers bet tracking options for all sports and betting markets. We would not suggest paying for betting advice from the Action Network, but their app is quite useful for tracking your bets and for lives odds. It is also available for both Android and iOS users.
The free version allows you to track your picks, which is a big plus. It has access to over 40 sportsbooks, both offshore and those in regulated states. The odds and real-time scores are the best around and the app is simple to use.
It is available on both Android and iOS formats and includes updated news, scores, and standings. The best tracking interface is a bit lacking, but the app is completely free. There are a few sites online that offer free bet tracking spreadsheets that can be downloaded for free. This is the main advantage of using a smartphone app for bet tracking. However, if you log your bets on the goal and import than later into your spreadsheet — this can easily be overcome.
This is what I do when I am placing bets on my mobile phone, and I am not near my computer. When it comes to bonuses, payout options and speeds, and betting limits — SportsBetting. Their payouts are fast, and they accept accounts from all 50 U. Betway is one of the offshore betting sportsbooks online.
There are also several websites that will track your progress for you and not only give you your profit and loss, but also calculate your units. Some of these sites can sync directly with online betting sites and bookmakers to track your record with little effort on your part. These can be used in conjunction with apps and some apps may use also desktop websites, such as SharpSide app listed above.
Betting Metrics is one of the premier bet-tracking websites online. Not only do they allow you to get a feed of live odds on nearly every sport, but they also have a whole host of interactive features that will let you analyze your results and track your bankroll. They can be linked right to your sportsbook accounts and combine all your bookmaker balances in one place. All your data can also be imported to your excel spreadsheets.
The only downside to Betting Metrics is that it is now free to use. Some sites offer bet tracking software without charge. As mentioned above, you can also track your bets in excel without paying a fee. Another site that tracks bets is Smart Bet Tracker. The site has been around since , and the owner is quite active on Reddit. It shares much of the features of Betting Metrics and is a lot lower when it comes to pricing.
Smart Bet Tracker is totally free, with all features, if you place less than five wagers per day. After that, there are tiers of subscriptions, depending on the number of bets you want to place per day. Smart Bet has a lot of features but does not have a better interface than Betting Metrics. However, it does seem to be geared a bit more towards American bettors.
Stake Toys has both a desktop and a mobile component. Like the other websites, it allows bettors to track their bets, analyze results, and improve betting skills. Unlike the other sites, there is little when it comes to betting advice or community. However, the price is much lower compared to Smart Bet Tracker and Betting Metrics, with much of the same features. There are many websites that will track your bets for free or for a small fee.
We prefer Excel because it can be as easy as you want, but can also be complex or more detailed depending on your preference. Look, we understand more than most that there is a big element of fun to sports betting. It also is a big help and perhaps a legal requirement when you file your U. At the very minimum, bettors should concern themselves with keeping track of all deposits and withdrawals at sportsbooks and recording the amount won or lost with each bet.
However, we recommend going a bit further if possible. Bettors can do a much better job of quantifying their edge in certain markets if they record the type of sport they bet on, the event, wager type, selection, and the odds of each bet placed. Once again, the can also go the extra mile by adding additional information about each bet. Stuff like the confidence level you had in the wager and the primary reason you decided to make the bet handicapping, betting advice, steam betting move , etc.
When it comes to bonuses, payout options and speeds, and betting limits — SportsBetting. Their payouts are fast, and they accept accounts from all 50 U. Keeping accurate records allows you to analyze your results, which is a vital part of your growth as a sports bettor.