Sports betting spreadsheet, what is it and what is it for?
When the bettor begins to have more experience in the world of sports betting markets, it is convenient to be able to draw a map of what has already happened: the most profitable type of bet, the matches in which the results are better, the errors, hits and doubts.
The sports betting spreadsheet is a great solution to have this information. Today we will explain some characteristics and the importance of a spreadsheet to guide you and mark your steps.
What is a sports betting spreadsheet?
The Sports Betting Spreadsheet is a classic Excel spreadsheet, where columns and rows provide account data and results, to record and analyze your bets. In addition to being a source of information on the history of betting, it is also a good mechanism to plan future investments and analyze the development of your sports predictions.
How do Excel spreadsheets work for sports betting?
They work like any spreadsheet. In this case, the difference is in the theme, since it is related to the world of sports betting. For this, it is important to know that the chips and divisions are essential for a good organization and a clear analysis of the route of your bets.
So we can build the spreadsheet with 3 main tabs: registration (where the names of the teams, players and championships will be), bets (where the types of bets and markets will be) and analysis (where the analysis of the results already obtained will be).
Analysis of sports betting results
For an accurate analysis, it is important that the betting sheet is complete and detailed.
This implies two types of analysis: quantitative and qualitative. Next we will see how each type of analysis is.
Forms of quantitative analysis
Quantitative analysis is based on factors that take quantity into account. Therefore, it is the most accurate form of analysis, calculating and providing numbers, data, result statistics, and graphs.
The way to carry out this analysis is directly linked to mathematical calculations: the average between losses and profits, the type of market in which the most has been won, a graph that explains the relationship between the money invested and the profits obtained in each bet.
Forms of qualitative analysis
Qualitative analysis refers to a deeper type of analysis, which depends on other factors. It is more complex than quantitative analysis, which can be done automatically with the spreadsheet itself.
For this type of analysis, it is necessary to follow the debate tables, the sports programs, the resonance of each event, the context of each match and even the betting market that is chosen. So it depends on too many subjective variables to put into the specific spreadsheet.
What are sports betting spreadsheets used for?
Spreadsheets are great tools to control and keep track of your bets. They serve to have an overview of your career in the world of sports betting and, in addition, they provide important information so that you are increasingly clear about the different betting markets and the different sports on which to bet.
Set the order in sports betting
For example, spreadsheets are very effective for managing the order of your bets. You will be able to have the history of everything you have done, together with the different results obtained in your games.
Stay up to date with sports betting
Once you have all the history and a reliable database, you can effectively track your bets. In addition to the history, you can follow your career and personal evolution in the world of sports betting.
The importance of controlling your bets
As a bettor, it is important to stay in control of your bets. In this way it is possible to organize financially and know well the profits of the money invested.
In order to organize your budget
Having an up-to-date spreadsheet shows how much you have already deposited, how much you invest each month, week and game day. It is also possible to see how much you have bet on each market or sport, and this is essential for good control of your personal finances.
Find out what your earnings were
With all the data present and the quantitative analysis carried out, it is possible to know exactly what your profits were, and how they relate to the money already invested.
Additionally, it allows you to see which market is the most lucrative and which one you have the least affinity for.
Understand what the losses were
By having all the results clear, you can understand where and how you went wrong, and also see what type of bet you are more demanding with. This reality provides a clear, analytical and rational understanding of all your losses.
Spreadsheet to understand sports betting well
As we have already seen, having an analysis spreadsheet and keeping it up to date is a great way to understand and improve your betting. You can take advantage of this knowledge and by betting with us at Bodog, you will surely achieve the best results.