How a Betting Spreadsheet Can Improve Your Results
The recent break in sporting events has been a time for thought and pause for many sports bettors. With the fast-paced nature of sports betting, you rarely get a chance for this and hopefully, you have taken advantage of it.
For those looking to find a way in which they can improve results on their betting, one of the best routes to take is to begin by completely evaluating everything you do. This is done by creating a betting spreadsheet, something to record your bets and work out what you are good and bad at.
This will be fact, not something you think in your head based on the past bet results you can remember and it is important to have that, don’t try and change things based on your memory. Simple betting spreadsheet can easily improve your results. Also your results can improve big betting limits which have crypto bookies, so check best crypto betting companies rating.
What Should Be Included in a Sports Betting Strategy Spreadsheet
This can be simple, but just like any sports betting excel spreadsheet, the more information you put into it, the more ways you can analyse yourself and your betting in the future.
Basics here include your profit and loss and then anything you want to change, so for example what competition or league the bet is on, what type of bet it is, or the different sports if you bet on more than one sport.
If you think about how you want to change your betting by using the bet spreadsheet, you should be able to work out what columns you need on the betting record spreadsheet.
Each time you place a bet, record the information on your sports spreadsheet betting and when the result is known, fill in the result and work out your profit or loss for that particular bet. When your sports betting spreadsheet has a lot of data on it, you can get an overall profit and loss figure for your betting before you start narrowing things down and working out where you are doing good and bad.
How to Change Your Betting Stakes Based on Spreadsheet Info
There are two ways you can use your bet tracker spreadsheet to change how you bet and the first one we are going to talk about here is changing your betting stakes.
This is perfect for those who enjoy betting, especially when they are watching the action live and they want to keep betting on all the sports and leagues that they currently do. Rather than stopping placing any bets, you can change your stakes to put more money on the profitable sports and leagues you bet on and stake less on those that lose you the most money.
For example, if you bet on football and horse racing, placing bets on a weekly basis on the games and races you watch on TV, this is what you could do. Check best horse betting bookmakers list for 2020.
In this example, you lose money while betting on horses, and you win money while betting on football. To make your betting more profitable, you need to increase your football stakes and cut back your stakes on horse racing. This should mean you get two boosts, you win more on football and lose less on horse racing.
Give each of your stakes a point value, so your standard stake would be 1 point. The first step is to half your stakes on horse racing. This still allows you to place a bet and enjoy the action, but you will lose less money. These stakes will go down to the 0.5 point, so you are cutting them in half.
Then to give you a double win, the 0.5 point worth of stakes you are saving from horse racing can then be placed on football, so your football stakes move up to 1.5 points.
Assuming your betting continues as it has done, you should see an increase in your profit in football spreadsheets, thanks to spending more on football, and a slower loss of funds from your horse racing as you are decreasing your stakes there.
How to Cut Sports and League Out Based on Spreadsheet Info
If you are looking to take a more professional betting approach then you need to be happy to completely take out competitions, leagues and maybe even full sports from your betting portfolio. This is for the people who want to take things more seriously, with the important factor being profit and loss rather than enjoyment and watching the action you are betting on.
The principle of this works exactly the same as above, but instead of increasing and cutting down your stakes, you are increasing them and cutting out others altogether.
For this example, you bet on three football leagues, the Premier League, La Liga and Serie A.
You win money on the Premier League, break even on La Liga and lose money on Serie A. The bets you place on La Liga can stay exactly the same as they are at the moment for now, until you get everything else under control. Excel betting spreadsheet can help to see this unprofitable things.
Serie A is where you lose money, so this league needs cutting out altogether. If you are looking to be professional, you have to get rid of leagues like this one where you are losing money sports betting. What you can do, is continue to put it on your spreadsheet what you would bet, and trial your Serie A betting moving forward, to see if your fortunes change. In terms of real money stakes though, you will stop betting on Serie A.
The stakes you save go where you are making money, which in this example is the Premier League. This allows you to double your stakes here as you have completely lost all Serie A stakes, rather than halving them.
You should be left with two leagues to bet on, the Premier League with stakes at 2 point per bet, and La Liga with stakes at 1 point per bet. Your overall spend has not increased, because you have taken out your bets on Serie A.
Assuming you remain a winner in the Premier League, you will be in a position where you are staking the largest amount on your most profitable league, which is what you should always aim for.
If you want find more articles about sport betting strategies, check out our betting strategies category.