Gambling Log Spreadsheet
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. IRS Gambling Log Excel Spreadsheet $2.50 Track your gambling daily wins and losses in a format suited for year end tax preparation. Free shipping with Code Twitter and file will be emailed to you. Gambling Templates provides webmasters with free templates to use at no charge, the ready to use html website layout designs are done with high quality gambling graphics. All you have to do is download the seo friendly gambling templates and edit to customize for your specific url. The logo and buttons are all done in text for easy editing. Gambling winnings increase Adjusted Gross Income (AGI) but gambling losses do not decrease AGI (except for a Professional Gambler). Even if an equal amount of gambling winnings and losses are on the tax return, taxable income can be higher than if the gambling winnings and losses did not exist. The spreadsheet contains various columns most of which are self explanatory but I’ll quickly go over each of them. Date – The Date which the bet will settle Bet Source – Either the tipsters name who advised the bet or whether it was your own selection or system etc.
The differences between those who make money from betting and those who don’t are often quite subtle.
Ask any losing gambler if he keeps a record of his betting profit and losses and they will no doubt give you a funny look.
The losing gambler thinks of gambling as entertainment and views tracking their profits and losses as unnecessary work.
A winning bettor takes their betting seriously and will treat it as they would a business.
Most successful businesses will record a total of their profits for the day at the close of business that day.
If you want to be a successful bettor you should treat your betting seriously and emulate the practices of a successful business.
Some people might say that this is a waste of time and that tracking your gambling profit and losses will not magically make you a more profitable gambler.
I however disagree. By knowing how much money you are either winning or losing and being forced to acknowledge this number each and every day will make you think about your gambling and consider whether or not you need to change anything.
If you can see that you are consistently losing money or just breaking even you will be more likely to try and figure out how you can improve your betting than if you didn’t have to look at your profit/loss every day.
Conversely if you are making a profit from your betting you will be encouraged by this to continue doing what you are doing and not have any daft impulsive punts that may hinder your profits.
Another excuse people will have for not doing this is “I know how much I’m winning.”
Unless you only place a couple of bets a week and placing all your bets at the one bookmaker then I can guarantee you do not know how much you are winning or losing.
You may have a rough sort of idea based on how much money is left in your accounts but you’d be surprised at how far off most peoples rough estimates tend to be.
How to record your profit/loss
Gone are the days where you would have to record your profits and losses with pen and paper. (although you could still do so if you wished)
The easiest way to keep a record of your betting is on a spreadsheet. If you are going to go down this route there are a couple of options.
Microsoft Excel
This is what I currently use to record all my bets. It’s by far the most user friendly spreadsheet program I have used but Microsoft’s pricing for this software is a little extortionate setting you back £69.99.
Free Alternative – Open Office
If you don’t fancy paying for excel and are looking for a free alternative then I would recommend using Apache Open Office.
Open office is completely free and does practicality the same thing that excel does.
I have always found the program to be slightly clunky whenever I’ve used it in the past but it gets the job done.
I’m also pretty sure that clunkyness was more to do with me not being used to using the program rather than the program actually being poorly designed.
Spreadsheet for Download
I’ve created a simple blank spreadsheet that you can use to record your results. You can download it here.
The spreadsheet contains various columns most of which are self explanatory but I’ll quickly go over each of them.
- Date – The Date which the bet will settle
- Bet Source – Either the tipsters name who advised the bet or whether it was your own selection or system etc.
- Bookmaker – The bookmaker or exchange where the bet has been placed
- Stake – How much money you bet on the selection
- Selection – The selection which you bet on
- Event Name – The name of the event you are betting on
- Event Time – The time the event starts which you are betting on
- Profit/Loss – The profit or loss that resulted from the bet settling
- Running Bank – Your total profit/loss of all your bets to date(I have set this to auto calculate once the profit/loss has been entered)
Download Spreadsheet Here!
I hope I have convinced you of the merits of recording your results.
You even have a blank spreadsheet ready to download and input your results so you have no excuses.
Until next time,
Kenny Turnbull
Download my free exclusive guide on how I make an extra £2,000 extra a month income from betting...easy to follow guides for a total newbie!
*** If you like our bet records spreadsheet you will absolutely LOVE our bet records database which we believe is the best bet recording software available ***
Keeping betting records is important as you need to be able to analyse your bets in order to help you see which type of bets are are making you profit long term. It is also important to know what your overall profit or loss might be and this is very difficult to keep track of across multiple bookmakers.
We at Betting Tools have devised a spreadsheet for keeping track of all your bets. All you have to do is name the bet, set the stake and odds, choose the bookmaker from the dropdown and then choose win or lose once it has been completed. The spreadsheet does the rest and works out your profit loss on that particluar bet and overall. It will also tell you what your return would have been if you bet the same amount on each bet (level stakes) and this is a very useful comparison.
The spreadsheet will also keep track of how much you should have in each bookmaker account based on your deposits and bets you've made with them. Again this is very useful as bookmakers do make mistakes!
Gambling Log Spreadsheet
If you need any help or have any questions about the spreadsheet you can find post a message on the forum.
*** UPDATE - A new version of the bet records spreadsheet has been created where new rows are added from the top and are then modified which reduces scrolling and the length of the spreadsheet. You do need macros enabled for this though and it's best to change the default save option to macro enabled too ***
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Click here to download the updated Bet Records Spreadsheet
| ***Backing every tip this year so far for £10 each would have returned £412.00 profit!*** Remember that this is just a guide to the overall peformance of the board and much better returns are possible by following only the very best football and horse racing tipsters. **NEW! You can now subscribe to our 3, 4 and 5 star tipsters for just £9.99 a month (33p a day). Click here to start making a profit from our tips. |
An account with Betfair is a must have.
The big profits from our tips largely come from horses over 10/1 and betfair exchange have significantly better prices on those selections.
We have had success requesting slighty bigger prices than those tipped and usually get matched very easily.
Liquidity can be a problem at times butthey also have their sportsbook odds which are up there with the best in terms of
bookie odds.
Sign up to betfair and get a £20 free bet.
Slot Machine Gambling Log Spreadsheet
New customers only, bet at least €20 on the Exchange and if your
first bet loses, we’ll refund you €20 in Cash. Bet must be placed in first 7 days of account opening. Full T&Cs Apply
| Name | W/L | Profit £ | |
|---|---|---|---|
| 1 | BetSharp | 0/1 | -10.00 |
| 2 | AndyHolding | 0/3 | -30.00 |
| 3 | Pricewise | 0/9 | -90.00 |
| 4 | TipOfTheDay | 0/13 | -130.00 |
| 5 | On The Nose | 0/48 | -480.00 |
| Name | W/L | Profit £ | |
|---|---|---|---|
| 1 | Bet Monkey | 2/7 | -27.50 |