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?»?Excel Sports Bet Tracking Spreadsheet 2021 (Free!)
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.
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.
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.
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.
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.
Sharp Money 101: How to Track Professional Betting Action.
Matthew O??™Haren-USA TODAY Sports. Pictured: NASCAR fans review their sports bets.
The Action Network's Josh Appelbaum and Danny Donahue discuss the tools and strategies they use to identify and track sharp money. Some of those strategies include utilizing Sports Insights' Bet Signals, identifying reverse line movement and comparing bet and dollar percentages.
If you??™re a frequent reader of The Action Network, you??™ve probably crossed paths with our ???Sharp Reports??? on a few occasions (or more, hopefully).
Assuming so, you??™re aware that sharps are bettors with long track records of success, and our reports are meant to encompass the picks that have generated the most action from those bettors on a given slate of games.
We do our best to briefly explain each play, but at the end of the day we understand most bettors are really there to simply access the plays, which is fine. For that reason we try to keep the details short and sweet.
Still, one of the most common questions we get is: ???How do you guys pick which plays go into a Sharp Report???? And while Twitter is great for interaction, it??™s tough to explain the whole process in 280 characters.
With that in mind, The Action Network??™s Josh Appelbaum and Danny Donahue have detailed the process below, each explaining the tools and strategies they find the most useful in determining the sharpest plays.
Sharp Money 101: Bet Signals.
Bet Signals are my starting point when running through a slate of games.
A signal gets triggered every time sharp action results in the entire market suddenly shifting a betting line, so simply counting the number of Bet Signals on a play is an easy and effective way to identify sharp action.???
Russ Isabella-USA TODAY Sports. Picutred: Utah Jazz guard Kyle Korver (26) and center Rudy Gobert (27)
Appelbaum: ???In my opinion, Bet Signals are the most important tool for identifying sharp action.
If I see conflicting signals on both sides of a game, I lay off. This means that wiseguys have differing opinions and there is no clear consensus. The goal is to look for games where multiple Bet Signals have been triggered all on the same side at various different books.
This means that sharps are united. In a perfect world, the signals come from market-setting books that have high limits and cater to professional bettors.
Also, timing is everything. For this reason, I love it when signals get triggered later in the day, closer to game time. Why? Because early on the limits are low. Once limits are raised later in the day, that??™s when the big guys get down.
I also love when Bet Signals continue to get triggered on the same side even when the number gets worse. This signals wiseguy confidence.???
Donahue: ???As Josh alluded to, the Bet Signals show the number that got hit by sharp action. That can be an extremely useful feature, especially in football (because of key numbers).
Sharp Money: Betting Data, Percentages and Market Movement.
Donahue: ??? As far as dead giveaways go, reverse line movement (RLM) is about as close as there is to one on sharp action. RLM occurs when the line moves away from the popular side (the one with the higher bet percentage).
It??™s certainly possible that an opening line can offer no value in the eyes of sharps. But that doesn??™t mean public bettors won??™t hammer a side they like and potentially move a line.
If that happens, sharp bettors are essentially given a new opening number to take advantage of if they see value.
For that reason, it??™s important to look at the full line history of a game before ruling out line movement caused by sharp action.???
Appelbaum: ???Ideally, the team or side is getting less than 40% or 30% of bets. That means it??™s contrarian and you can capitalize on public bias. Remember: Average Joes don??™t look at betting data ??” they bet based on bias and gut instinct.
They overvalue recent performance, love home teams, favorites, overs and bet teams and players, not numbers and value. It??™s a misconception that sharps are always against the public. While it??™s relatively rare, it does happen.
However, by being on the contrarian side it gives me more confidence in the play, knowing that I??™m on the side of the house.
Next, I compare the percentage of bets to dollars. The goal is to look for a positive bets vs. dollar discrepancy where a team or side is getting a much higher share of money compared to bets. Sharps bet large amounts on games, much more than recreational bettors who bet for fun.
So if a team is getting 35% of bets but 50% of dollars, that??™s a clear indication that they??™re receiving big, sharp wagers.???
Donahue: ???To get a little picky, though, I try to focus on games where the dollar percentage is still around 50% or less. For example, a team seeing 30% of bets accounting for 80% of dollars is clearly a sharp play, but it sets up a situation where sharps and sportsbooks are pitted against one another.
Ideally, I??™d like to be on the same side as both sharps and sportsbooks. That means looking for spots where a team is getting, say, 25% of bets and 45% of dollars.???
Appelbaum: ??? Once I??™ve checked off the betting percentages and ticket count boxes, I focus on line movement. Nine times out of 10, the movement (or lack thereof) will tell you all you need to know.
I also love a line freeze. This is when a team or side is getting heavy public support, yet the line doesn??™t move (80% of bets on Warriors -10, yet the line stays frozen at -10). Normally, a team in that spot would move from -10 to -11. So if it doesn??™t, that means the books have liability on the opponent and don??™t want to hand out extra points to sharps on the other side.???
Historical Betting Trends (Bet Labs)
Appelbaum: ???Those who fail to learn from the past are doomed to repeat it. Overall, I want the sharp play to also be on the right side of history. In order to make sure of this, I consult our Bet Labs data analysis software. Ideally, I want the game to have at least one Bet Labs PRO system match.
For example, maybe the Utah Jazz have tons of Bet Signals, great bets vs. dollars, sharp reverse line movement ??” but also fit a profitable Bet Labs system. This is the cherry on top because it means that teams in this situation have been a profitable bet historically.???
Donahue: ???Couldn??™t agree more. Another way I love to use Bet Labs is to create the situation I??™m seeing in a specific game on the board. Maybe a game has an exceptionally low total and I want to know how those totals perform based on the number of bets I??™m seeing on that game. It might turn into a profitable betting system that I didn??™t know existed.
Or, maybe a line has moved by a substantial amount as a result of the sharp action that??™s hit it. Since Bet Labs??™ records are all based on closing lines, I can see if there??™s still been value in riding a play like that historically.???
Other Sharp Money Indicators.
Donahue: ???While the Sharp Report is really just a summary report of sharp action, we still ultimately would like these plays to win. So there are a few more things I take into consideration when deciding between plays.
Power ratings are a big one. I think our Action Network college football power ratings post by Collin Wilson might be my most visited page over the past couple months. My goal there is to see if Collin??™s ratings still show value at the current line I??™m writing about, which is often not the best number because it has already been hit by sharps.???
Appelbaum: ???The other two factors I also look at are weather and officials. If the sharp play is an MLB Over, I want the wind to be blowing out with an ???over??™ umpire. If the sharp play is an NFL or NCAAF Under, I want heavy crosswinds.???
A Word of Caution.
Appelbaum: ???One thing Danny and I always try to stress to readers of the Sharp Report is that they aren??™t ???picks.??™ They are market reports intended to inform and educate our members as to where sharp action has already occurred .
If you are betting the Sharp Report plays based on the current number listed, you??™re rooting for the same team as sharps, but there??™s a good chance you??™re betting a bad number with little to no value.
Secondly, sharp action isn??™t set in stone. A team or side could have heavy sharp action throughout the morning and afternoon, but late buyback or conflicting sharp action could come in late, closer to game time. The betting market is fluid and constantly changing.
For Danny and myself, our #1 goal with Sharp Reports is teaching the methodology and the boxes you need to check to identify sharp action. We aren??™t giving you fish so you can eat for a day, we??™re teaching you how to fish so you can eat for a lifetime.???
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