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Betting spreadsheets - why should I use them?

A betting spreadsheet is a fantastic way to manage your betting in order to make you stronger and successful at betting!

Spreadsheet

What is a betting spreadsheet?

A betting spreadsheet is a tool you can use to help organise and manage your betting. In order to create your own betting spreadsheet you’ll need to record all of your bets when you’ve placed them as well as the result after they have finished.

It’s really up to you what fields and criteria you want to put into your betting spreadsheet but we recommend you make it as detailed as possible and tailor made to fit your specific betting needs.

We suggest that you start with some basic betting criteria and then you can develop it from there:

  • Sport
  • League
  • Match
  • Date
  • Odds
  • Size of your stake
  • Yield

The Path to the Perfect Betting Spreadsheet

If you surf the net you’ll be able to find a bunch of free betting spreadsheet templates, but with user friendly programmes like Google Sheets and Microsoft Excel it’s always a possibility to create your own as well.

Or, you could go old school and use a pen and paper. The important thing is to make sure that your betting spreadsheet works best for you.

Try out different criteria and different methods. With a bit of trial and error, over time you’ll be able to perfect your system and you’ll have the perfect betting spreadsheet for your needs.

Remember your betting spreadsheet needs to work for you, so you can analyse your own bets. A betting spreadsheet will help you to see patterns both positive and negative, and even draw out more general and specific statistics to improve your betting.

The benefits of using a betting spreadsheet

  • Enables you to easily view your betting history and how much you’ve won or lost over a certain period
  • Makes it easier to analyse your betting for strengths and weaknesses
  • Allows you to pick out patterns and see where there is potential to develop your betting

What are your betting strengths?

A betting spreadsheet can make you aware of statistics and patterns within your betting that you would otherwise not have noticed at first glance. It will make you question your betting in order to help it develop. For example, are you better at playing under/over goal related bets, or is there more worth for you in betting on the final result. 

A betting spreadsheet will help you to find your strengths, weaknesses and the most value for your betting

Perhaps you have the feeling that Spanish football is what you know best because you devote most of your time to watching it. But sometimes that can be a misconception. By keeping track of your bets with a betting spreadsheet it might reveal that actually your betting strength isn’t in Spanish football, and is actually damaging to your bankroll, and your profit.

In that respect a betting spreadsheet will point you to weaknesses as well as strengths, allowing you to make an educated decision on where best to take your future bets to make your game much stronger. A betting spreadsheet will help you to find your strengths, weaknesses and the most value for your betting.

A betting spreadsheet will enable you to turn gut feeling into intelligent decisions based on your own statistical analysis.

Bankroll management with a betting spreadsheet

Filling in your bets and all their relevant details in a betting spreadsheet is a great way to take control of your bankroll management. As we outlined in our guide to bankroll management a big part of becoming successful at betting is properly harnessing and looking after your bankroll management. 

Whether you’re a professional or not, you need to know the numbers

It’s especially difficult to get a good overview of your betting if you’re active on a number of different betting sites at any given time. The same can be said if you’re continually withdrawing and making deposits. With these factors considered it’s hard to appreciate if your account is in the black or the red over any given period. The fact of the matter is, whether you’re a professional or not you need to know the numbers.

A betting spreadsheet is a great way to find out specific statistics, calculate your ROI and analyse different elements of your betting. It’s even possible to use your spreadsheet to help visualise your betting by creating graphs and other useful visuals for a solid overview of all your betting.

Using your betting spreadsheet

We recommend that you create a spreadsheet with as many potential fields as possible and take that extra bit of time to make sure you fill it in properly. In the long run if you do it right, it will be a great benefit to your betting. 

If you fill in your betting spreadsheet properly you’ll be able to analyse your betting over any given period - whether that’s a week, a month or a year. You’ll also be able to isolate the markets you bet on to see how they rank against each other in terms of return and success

Locking your betting spreadsheet

You’ll often hear punters talk about the benefits of having a locked betting spreadsheet. That basically means that when you go in and record your bets straight away, it’s not possible to take them away afterward.

In reality don’t believe everything you see or read on the internet. A lot of punters out there who share their betting spreadsheets online can often fiddle with the numbers to make it seem like they’re much more successful than they really are.

The same goes for your betting. Don’t try and cheat yourself. If you lock your bets into your betting spreadsheet you’ll truly be able to see your betting in actuality, and it’ll be extremely useful for the future.

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