Ask any recreational bettor how they're doing, and they'll say "pretty good" or "about even." Ask them for proof, and you'll get a blank stare.
The truth? Most bettors have no idea whether they're winning or losing. Memory is biased—we remember the wins and forget the losses. The only way to know for sure is to track everything.
Studies show that most recreational bettors overestimate their performance by 15-20%. You're probably losing more than you think. Tracking removes the guesswork.
WHY TRACK YOUR BETS?
🎯 Know Your Actual ROI
Are you profitable? Break-even? Losing? You can't improve what you don't measure. Tracking gives you the truth.
📈 Find Your Strengths
Maybe you're great at NFL underdogs but terrible at NBA totals. Data reveals where you have an edge and where you're bleeding money.
🚫 Identify Leaks
Tracking exposes bad habits: chasing losses, betting too many parlays, hammering your favorite team. Hard to fix what you can't see.
💰 Control Your Bankroll
When you see your total wagered and net profit/loss, you understand your actual risk. It's harder to bet recklessly when the numbers stare back at you.
WHAT TO TRACK
Date
When you placed the bet. Helps identify patterns over time.
Sport / League
NFL, NBA, MLB, NCAA, etc. You'll want to filter by this later.
Bet Type
Spread, moneyline, total, prop, parlay, teaser. Different bet types perform differently.
Selection
What you bet on. "Browns +3.5" or "Patrick Mahomes Over 2.5 TDs"
Odds
The odds you got. Important for calculating true ROI.
Stake
How much you risked. This is essential for profit calculations.
Result
Win, loss, push. Simple.
Profit/Loss
Net result in dollars. The number that actually matters.
Sportsbook
Where you placed it. Helpful for comparing line quality across books.
EXAMPLE SPREADSHEET
📋 Simple Bet Tracker
| Date | Sport | Type | Selection | Odds | Stake | Result | P/L |
|---|---|---|---|---|---|---|---|
| 12/8 | NFL | Spread | Browns +3 | -110 | $50 | W | +$45.45 |
| 12/8 | NFL | Total | Under 44 | -110 | $50 | L | -$50.00 |
| 12/9 | NBA | ML | Cavs | +145 | $30 | W | +$43.50 |
| 12/10 | NFL | Parlay | 3-team | +600 | $10 | L | -$10.00 |
This is the bare minimum. A simple Google Sheet or Excel file works perfectly. The key is consistency—log every bet immediately after placing it.
KEY METRICS TO CALCULATE
Win rate tells you how often you win, but it's misleading alone—a 45% win rate on +150 underdogs is profitable.
ROI is the true measure of profitability. A 5% ROI means you're making $5 for every $100 wagered.
CLV compares your bet price to the closing line. Consistently beating the close suggests you're finding value.
WHAT YOUR DATA REVEALS
After 100+ tracked bets, patterns emerge:
"I'm +15% ROI on NFL spreads but -8% on NBA totals."
Focus more on NFL spreads, reduce or eliminate NBA totals.
"My parlays have -40% ROI."
Stop betting parlays or drastically reduce parlay size.
"I'm profitable Monday-Saturday but -20% on Sundays."
You might be making rushed decisions on heavy NFL slates.
"My live bets have -25% ROI vs +3% on pregame."
You're probably making emotional live bets. Stick to pregame.
You need at least 100-200 bets before drawing conclusions. Small samples have massive variance. A 10-bet hot streak doesn't mean you've figured it out.
TRACKING TOOLS
Free Options
Google Sheets / Excel: Simple, customizable, and free. Build your own template with the columns that matter to you.
Action Network (Free tier): Basic tracking with some analytics. Easy to use, limited features.
Paid Options
Action Network Pro: Advanced analytics, CLV tracking, filtering. ~$10/month.
SharpSide: Professional-level tracking with detailed breakdowns. More expensive but comprehensive.
Our Recommendation
Start with a simple spreadsheet. If you're betting seriously and want advanced analytics, upgrade to a paid tool later. The habit of tracking matters more than the tool you use.
TRACKING TIPS
Log immediately: Don't wait until the end of the day. Log each bet right after placing it.
Be honest: Track everything—including the bad bets you want to forget.
Review weekly: Set aside 10 minutes each week to review your data. Look for patterns.
Don't overtweek: Small samples are noisy. Don't change your entire strategy based on one bad week.
Include notes: Why did you make this bet? "Gut feeling" vs. "Line moved favorably" tells different stories.
THE BOTTOM LINE
Why: You can't improve what you don't measure. Most bettors think they're doing better than they are.
What: Date, sport, bet type, selection, odds, stake, result, profit/loss. At minimum.
How: Start with a simple spreadsheet. Log every bet immediately. Review weekly. Adjust based on data, not feelings.
Tracking won't make you a winning bettor overnight. But it's impossible to become a winning bettor without it. The data doesn't lie.