Tracking your matched betting profits should be an essential part of your matched betting routine for a number of reasons. Thankfully, as matched betting has grown in popularity, it is easier than ever to track both your bets and the returns from those bets.
Why track your bets & profit?
Keeping a record of your profit allows you to view your overall total at any point. There may be periods when you don't make as much as others and if you do casino offers, especially high-risk offers, there may be times where you actually make a loss. These periods can get you down but if you record your profits, a quick look at the bigger picture, which should show a profit, will help you realise how much you are making in the long-term.
Making £20 per day (or whatever your average is) may not seem like much or may get you excited but if you've kept track of your profits over the year and were to check your totals, you would see that you will have made £7,300! An extra £7,300 a year is something which will give most people the motivation to keep matched betting even when £20 a day may not.
Another reason to keep track of your matched betting activity is to know which bets you have placed and which offers you have participated in and with which bookmakers or casinos. The majority of betting offers require you to wait until your qualifying bet has settled for you to receive your free bet or if your doing a casino offer, you may be required to wager a certain amount in order to receive free spins up to a week later. If you don't keep track of these bets then it's easy to forget which offers you have qualified for and what free bets or free spins you have to use. If you have a record of these bets and offers then you are much less likely to miss out on them by allowing them to expire. This means more profit for you.
How to track your activity
There are two ways that you can track your matched betting activity.
- Profit tracking features on your matched betting site
Spreadsheets were how almost all matched bettors used to track their bet activity and profits and so thankfully, there are many matched betting spreadsheets available to download for free.
There's nothing wrong with tracking your activity via a spreadsheet and the good thing about them is that they're customisable. You're able to edit them so that they work best for you and the majority of them have built in formulas which will automatically calculate lay stakes and total profit based on back stakes and exchange commissions. Another good thing about spreadsheets is that you're able to create custom charts and graphs to display your progress in an attractive and easy to view way. Being able to view a nice upward line on a graph over the period of a month or a year can give you moviation to keep matched betting to ensure that line and your profits continues to rise.
Many of the top matched betting sites have profit tracking features built in which are integrated with your account. These are usually quicker and easier than using spreadsheets as they require you to simply click a button and your bet is tracked. You then mark whether your bet won with the bookmaker or the exchange once it has settled and your overall profit will be updated. Matched betting sites such as Profit Squad, OddsMonkey, MatchedBets and Profit Accumulator all have profit tracker features.
Let's take a look an example of Profit Squad's profit tracker.
Once your have found a match and opened up the matched betting calculator, you have the option to track your bet with the click of a button.
Once you have tracked your bet it will be added to your account and when the event has finished you can mark whether the bet won with the bookie or the exchange.
This will also update your overall profit total.
With Profit Squad, you can also view your progress over time with charts and graphs. It's a quick and easy way to keep track of your matched betting activity and profits and can increase motivation as well as keeping you organised.
Sign up to Profit Squad today
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