• How to Use Spreadsheets to Make Better Sports Bets

    Added - July 14, 2014 Sports

    In our previous sports betting articles here at GameShout, we have established the idea of the gap and why you're looking to see which bets on which games can be profitable based on that gap. There's a ton of information to take in, and the calculations involved can be a little tricky to do over and over again without making a mistake here or there. That's why we want to introduce you to a way that you can use spreadsheets to do better at your sports bets by making things more efficient.

    The first thing you'll want to do if you bet money lines is to set up a spreadsheet that includes columns for the first team, the second team and the line on each team. Then you'll want to have it automatically calculate how often each team needs to win based on the money lines for a bet to be profitable. You can do this by using the basic formulas for finding the gap that we have talked about before, or you can use your own method as long as you come up with the same numbers. The whole idea is for you to use spreadsheet formulas to have this calculated for you automatically to save time and limit mistakes.

    From here, you'll want to collect all of the games that you're interested in investigating and researching and start from there. Using whatever models or tactics you have learned or developed on your own, you'll want to find an approximate win percentage for each team and list that on your spreadsheet for each game or match as well. Then you can easily compare the available bets and look at which ones are likely to be profitable if your predictions are correct. You'll also see which games you'll want to avoid.

    The idea here is that you'll be keeping all of your information in one place where it can be read very easily without any mistakes. When you minimize the chance of making mistakes, and when you increase the speed of your analysis, you make large gains towards being a profitable sports bettor. Overall, optimization of this type, especially when it comes to your calculations and research, and the keys to improving. If you keep making these types of improvements, you won't be able to help but become profitable as you refine yourself over time.