Tracking Your Sports Betting Wins and Losses

Tracking your sports betting results is one of the most important steps toward becoming a successful bettor. By maintaining a record of your wins and losses, you can analyze your betting patterns, identify profitable strategies, and make informed decisions moving forward. Whether you're using a dedicated sports betting tracker or a simple spreadsheet, calculating your wins and losses correctly is essential for understanding your long-term performance.

This guide will walk you through how to effectively track your sports bets, with a focus on important metrics, record-keeping strategies and key concepts.

Before diving into the specifics of how to calculate your wins and losses, here are the key metrics you’ll want to track:

1. Bet Type: The kind of bet you placed (e.g., moneyline, point spread, over/under, parlay, etc.).

2. Bet Size: The amount of money you staked on each bet.

3. Odds: The odds at which you placed the bet (decimal, fractional, or American odds).

4. Result: Whether the bet was a win, loss, or push (a tie).

5. Profit/Loss: The amount won or lost on each bet. This is calculated based on the stake and odds.

6. Cumulative Bankroll: Your bankroll after each bet, showing the overall effect of your betting activity.

Step-by-Step Guide to Track Wins and Losses

Step 1: Set Up Your Tracker

There are multiple tools available for tracking your sports betting results. You can use a simple spreadsheet (Excel or Google Sheets), or sports betting-specific apps. We'll cover how to set this up using a spreadsheet.

Spreadsheet Setup

• Column A: Date

• Column B: Bet Type (e.g., Moneyline, Spread, Total, Parlay)

• Column C: Event (e.g., Lakers vs. Celtics, Super Bowl LVII)

• Column D: Bet Size ($) – The amount you bet on each wager.

• Column E: Odds (Decimal, American, or Fractional)

• Column F: Result (Win, Loss, Push)

• Column G: Profit/Loss ($) – Calculated value

• Column H: Cumulative Bankroll – Your running bankroll after each bet

Step 2: Record Your Bets

Each time you place a bet, record the following:

• Date: The date when the bet was placed

• Bet Type: Record what kind of bet you placed, as different bet types affect your winnings or losses differently

• Event: The game, match or player you bet on

• Bet Size: Enter the amount of money you bet

• Odds: Record the odds at which you placed the bet (note: you might encounter odds in different formats (decimal, American, or fractional), so make sure you’re consistent in how you record them)

• Result: After the outcome is determined, note whether the bet was a win, loss, or push

• Profit/Loss: This is the key calculation — we’ll walk through it below

Step 3: Calculate Profit/Loss for Each Bet

Profit and loss calculation depends on the type of bet you placed. Here’s how to calculate it for different bet types:

Moneyline Bets

Moneyline bets are straightforward wagers where you pick the winner of a game. The odds are represented as either positive or negative numbers.

• Positive Moneyline Odds (+): The amount you would win on a $100 bet. For example, if you bet on a team with odds of +200, you win $200 for every $100 wagered.

• Negative Moneyline Odds (-): The amount you need to bet to win $100. For example, if the odds are -150, you need to stake $150 to win $100.

Formula for Profit/Loss:

• Winning Bet: (Bet Size × Odds) / 100 (for positive odds) or (Bet Size / |Odds|) × 100 (for negative odds)

• Losing Bet: The entire bet is lost

Example:

• You bet $10 on a team to win with +150 odds

  • Profit = $10 × 1.50 = $15

  • Total payout = $10 (stake) + $15 (profit) = $25

  • If the team loses, you lose the full $10 stake

Point Spread Bets

In spread betting, you bet on a team to either cover or fail to cover a point spread set by the bookmaker.

• If your team covers the spread: You win your bet at the standard odds (most common odds are -110 for spreads).

• If your team does not cover the spread: You lose the bet.

Formula for Profit/Loss:

• Winning Bet: Bet Size × (Odds / 100)

• Losing Bet: The entire bet is lost

Example:

• You bet $10 on a team at -110 odds to cover a 3-point spread

  • Profit = $10 × 0.91 = $9.10

  • Total payout = $10 (stake) + $9.10 (profit) = $19.10

  • If the team loses, you lose the entire $10

Over/Under (Totals) Bets

In totals betting, you wager on whether the total points scored by both teams will be over or under a specified number.

• If you bet the "Over": You win if the total points scored exceed the line set by the sportsbook.

• If you bet the "Under": You win if the total points scored fall below the line.

The calculation for Over/Under bets is the same as for point spread bets in terms of odds.

Parlay Bets

Parlays involve combining multiple bets into one wager. To win, every leg of the parlay must hit.

• Bet Size: The amount you bet on the entire parlay.

• Odds: The combined odds of all legs.

Formula for Profit/Loss:

• Winning Bet: Parlay Odds × Bet Size

• Losing Bet: You lose the entire bet

Example:

• You place a parlay bet with two legs. One leg has odds of -110 and the other +200

  • You can calculate the odds here

  • If you bet $5 on this parlay and it wins, your profit is $5 × 4.73 = $23.65 (total payout = $28.65)

  • If the parlay loses, you lose the entire $5 stake

Step 4: Track Cumulative Bankroll

Once you've calculated the profit/loss for each bet, you need to track how it affects your overall bankroll. This is called the cumulative bankroll.

• Initial Bankroll: Start with your initial bankroll amount (e.g. $1,000).

• After Each Bet: Add your profit (if you won) or subtract your loss (if you lost) from your cumulative bankroll.

Formula for Cumulative Bankroll:

• Cumulative Bankroll = Previous Bankroll + (Profit or - Loss)

Example:

• You start with a $1,000 bankroll

• After your first bet, you win $15. Your new bankroll is $1,015

• After your second bet, you lose $10. Your new bankroll is $1,005.

Step 5: Analyze Your Results

Now that you’ve calculated your wins, losses, and cumulative bankroll, it’s time to analyze the data:

• Total Wins vs. Total Losses: Track your win rate and loss rate to determine if your bets are profitable in the long run.

• ROI (Return on Investment): ROI measures how effectively you're using your bankroll.

  • Formula: ROI= Total Profit/Loss divided by the Total Amount Wagered multiplied by 100

  • Example: If you’ve wagered a total of $1,000 and have a profit of 100, your ROI is (100/1000)×100, or 10%, meaning for every dollar you wagered, you earned 10 cents in profit.

• Bet Type Analysis: Break down your results by bet type to see which bets (moneyline, spread, totals, parlays) are most profitable for you.

The Takeaways

Calculating your wins and losses in a tracker is essential for improving your sports betting experience. By using a simple spreadsheet or sports betting app, you can track key metrics like bet type, bet size, odds, results, profit/loss, and cumulative bankroll. This allows you to analyze your betting performance, identify areas for improvement, and make more informed, data-driven decisions going forward.

If you aren’t convinced yet, here are the four biggest reasons you should track your bets:

1. Monitor Performance: Keeping track of your wins and losses allows you to assess your overall profitability and see if your strategies are working.

2. Identify Trends: Tracking your betting history helps you spot trends—such as which types of bets (e.g., spreads, moneylines, totals) or which sports are more profitable for you.

3. Measure ROI (Return on Investment): By calculating your win/loss ratio and ROI, you can assess the efficiency of your bankroll and decide if your betting strategy needs adjustment.

4. Avoid Overconfidence or Despair: It’s easy to get carried away with a big win or spiral into frustration after a losing streak. Tracking your results objectively helps maintain a balanced perspective.

By maintaining a clear, consistent record of your bets and their outcomes, you can gain insights into your betting habits and refine your strategies to maximize profitability in the long run.

^{Photo Credit: Stephanie Scarbrough/The Enquirer / USA TODAY NETWORK}