All betting strategies, from the simplest value hunting to the most layered and complex arbitrage betting strategies, demand bet tracking. It is not just a way to gauge your bankroll growth and assess your returns, but also pivotal to cutting down on riskier bets and setting up a formula for success.
Though not all bet tracking software is made the same. There are tools that do the basic job, recording your wins and losses, bankroll growth/diminishment, and record them into neat tables and charts. And then there are the tools that sync to your sportsbook, source stats like the type of bet, betting odds, EV, and CLV, and give you a far broader set of analytics to evaluate. These tools are not there to complicate your strategy, but rather to chisel out finer nuances and details, so you can learn from your previous results and use that knowledge to adapt your betting strategy.
Best Bet Tracking Tools
Very few betting tools only stick to bet tracking. They often have bet tracking added to their list of features and software, incorporating their own EV evaluations, arbitrage bets, or other strategies with the bet tracking functions. Though there are a few tools that only do bet tracking, these tend to be not as detailed as the latter. Finding the right betting tool to track your bets is all about knowing what you want from your tracker.
We recommend beginners stick to the simpler tools, as these give you a framework of how bet tracking works, and is a perfect starting place to manage your bankroll and grasp how planning longterm betting strategies works. Intermediate to expert bettors, especially ones who have dabbled in arbitrage bets, matched betting, value hunting, and other advanced strategies, can head straight to the more sophisticated tools. They can use the more detailed datasets to uncover important metrics about their EV calculations, deposit/withdrawal strategies, and take advantage of sportsbook odds to gain an edge.
#1. Juice Reel
An ideal tool for anyone who is new to bet tracking, Juice Reel is an analytics tool that has sportsbook syncing, a tipster community, arbitrage bet pairings, and AI generated betting picks. It is a mobile-only tool, with apps for iOS and Android users that can be found in the App Store and the Play Store, respectively. The bet tracker syncs to over 300 books, and tracks your results, ROI, betting trends, and it shows your bet settlement in real time. We really liked the user-first design that makes it really easy to track metrics and get important data.
Juice Reel also has public tipsters whom you can follow and check their bet tracking metrics, if made public. You can sell your picks, or buy picks from other users, and there are AI tools that scan line movements and shop for the best lines. It is really perfect for beginners, but beyond tracking your win/loss and bankroll changes, the bet tracker doesn’t go into great detail on CLV, EV, and it could have more filters. That being said, Juice Reel is free to use, apart from the buying tipster picks, but you get refunded if these picks fail to hit.
Juice Reel Pros:
- Forever free subscription
- Syncs bets and real time settlement data
- Tracks bankroll, win/loss, and shows you betting trends
- Community tipsters and arbitrage betting picks
Juice Reel Cons:
- Only for mobile devices
- Bet tracking could have more filters
- Doesn’t have much for CLV or EV bet tracking
#2. OddsJam
OddsJam is one of the most versatile betting tools out there, with features for virtually every betting strategy and to give bettors the advantage. It covers EV+ bets, middles, arbitrage wagers, promo conversion strategies, sharp money tools, deposit optimizers, a separate subscription for fantasy optimization, and an elite bet tracker. Bettors in the US take umbrage with OddsJam’s pricey subscription tiers, although we would argue that when compared with other tools, it really does give the best value for money. The only difference is that many other tools break down their features into mutliple subscription tiers, and OddsJam does not really do that. You pay for all the strategies, or you settle for a Starter Screen that is more affordable, but not really worth the money on its own.
That is, if you aren’t just looking for a bet tracker. Because OddsJam’s bet tracker is free to use, and all you need to do is sign up and log into your account. This is really one of the best bet trackers out there, and it does everything you need. Start by syncing your sportsbooks to your bet tracker, and from there OddsJam will take care of everything else. It automatically tracks your bets, giving you bankroll tracking, win/loss records, CLV beating %, profit margin percentage per wager, and analyzes the bets by type, time, sportsbook, and more. Open the Sweat Station, and you get the measure of your wins/losses and bankroll changes over the course of a month. The deposit/withdrawal tracker gives you metrics on your bankroll flow, and important profit percentages to track your overall progress.
Really, OddsJam’s bet tracker is one of the top bet tracking tools out there, and as it is free to use, it is well worth trying out.
OddsJam Pros:
- Comprehensive datasets and analytics for bet tracking
- Sportsbook syncing and automatic settlement trackers
- Has loads of features to analyze bankroll
- Excellent CLV tracking data
- Bet tracker (alone) is free to use
OddsJam Cons:
- Only bet tracker is free
- No community or betting tips
- Pay for subscription to unlock EV and other strategies
#3. Gambit Odds
A live arbitrage betting tool, bet tracking is an important feature offered at Gambit Odds. The tool scans odds from over 80 sportsbooks, showing you the lines in near real time, and it has 1-click bet execution. You can set up arbitrage bets with prompts, or scan the odds screen for pairings that Gambit Odds finds from the market. The interface features a Drag and Drop functionality where you can pick out important metrics and highlight them, including Matchup info, EV badges and ROI, and Market Odds.
Gambit Odds does not just track the growth of your bankroll, but it also integrates an edge tracker where you can gauge your bets based on their ROI. It also does EV+ bets, devigging odds automatically, and assigning kelly criterion staking unit recommendations to optimize your edge. It is available for mobile and desktop use, and creates important charts based for bet tracking, including profit by league, timeframe analysis, and impactful markets. The only area we think it can improve is by having EV+ averages and CLV data on tracked bets, but apart from that, it is a very potent and versatile tool for arbitrage and EV betting.
Gambit Odds Pros:
- Excellent DIY arbitrage and EV calculations
- Tracks bets and has 1-click bet integration
- Gives important data sheets based on bet type, timeframe, etc
- Analysis mode in bet tracking important for bankroll management
Gambit Odds Cons:
- Costly subscription
- Could have CLV + EV inputs in bet tracking for the price
#4. OddsShopper
A betting tool with an eye for edges, OddsShopper has line shopping, arbitrage, EV, DFS optimization, and parlay building software. It has a massive reach of sportsbooks and alternative betting platforms, including prediction markets, social sportsbooks, DFS apps, and peer to peer betting apps. What you get is a very detailed analysis of the betting odds offered, with True Odds, Edge, Width, Outlier and Hold data for every single wager. Plus, if you open any bet in the odds screen, you can check out the line movements in live charts, and important metrics on the bet based on the data at hand.
Within My Bets, you will find the OddsShopper bet tracking tool. It is very simple, yet extremely valuable. You get one big table, with bets, CLV, current lines (when applicable), placed odds, current odds (when applicable), “OS Rating”, and date placed. Above, there are stats measuring your average CLV, number of bets beating CLV, your average OS Rating, and the average EV for your bets. And then within filters, you can narrow down the table by bet type, sportsbooks, time frame and leagues. Beyond bet tracking, OddsShopper also has top rate arbitrage tools, and a Portfolio Lab where you can create portfolios to hunt EV and gauge ROI averages on different wagers.
OddsShopper Pros:
- Simple, yet very effective bet tracker
- Expansive betting market coverage
- CLV, EV, “OS Rating” and important bet tracker filters
- Analytic tool with arbitrage, parlay building, tips, and EV assessment
OddsShopper Cons:
- Only 1 all inclusive subscription
- Costly for mid to low budget bettors
- Some features are restricted to the major sports
#5. Pick The Odds
Pick The Odds brands itself as a technologically superior betting tool with in-depth analysis of betting odds. It scans odds at all the top US sportsbooks, finding middles bets, arbitrage wagers, low hold bets, and uses data aggregators to find EV. You can open the odds screen and check out the EV calculations for yourself, or, use Pick The Odds’ EV formula generator to tweak the algorithm to your preferences. By creating a sportsbook distribution, you can give weight to specific sharp books and look for value based on your hunches.
The tool also has CLV data, free betting calculators, and a dashboard with My Bets. You can check out your historical bet performance, tracking bankroll growth and your betting trends. There is also a Track Bet function where you can pin any wager and track the odds changes at different books. The Similar Bets overview allows you to compare two bets that are similar, or have some overlap. These help you weigh different options and time your bets to perfection to capitalize on favorable line movements.
Pick The Odds Pros:
- Free subscription + multiple subscription tiers
- Highly detailed analytics tool for EV
- Excellent arbitrage, middles and low hold bets
- Tracks bets and has automatic bet syncing
Pick The Odds Cons:
- Besides Similar Bets and Track Bet, the bet tracker is pretty basic
- Could have more filters and data charts
- Has CLV movement trackers, but doesn’t track CLV in bet tracker
#6. ProfitDuel
ProfitDuel is arguably among the best matched betting software out there. While this tool “only” does matched betting, it goes to great lengths to find opportunities and turn them into promo conversion tickets. ProfitDuel supplies free calculators and has boost matchers, arb matchers, casino EV calculators, and premium EV calculations. It scans all the top US sportsbooks, picking out high value wagers and bonus conversion possibilities, even extending to Early Payout and Odds Boost optimizers.
Premium matched betting tools often come with world class bet trackers, this is the way they can assess progress. The profit tracker at ProfitDuel calculates the profits you make on your bets over time, calculating your expected returns over your actual returns, and providing filters so you can view the results by sportsbook, timeframe, and bets. It also keeps tabs on your sportsbook bonuses, so you see which books offer the most bonuses, and where the promo conversion strategies have been most effective.
ProfitDuel Pros:
- Wide range of matched betting tools and strategies
- EV, boost analytics, early payout, and many other features
- Tracks your bets and your bonuses
- Promo finder and useful matched betting guides
- Highly rated service with trusted customer feedback
ProfitDuel Cons:
- “Prioritizes matched betting over other strategies
- Has just 1 subscription option
- It is quite pricey, especially for lower budgets
#7. OddsNotifier
Finishing the list with an intriguing entry, OddsNotifier is a tool that is designed to monitor odds and send you alerts when they become favorable. It sources the odds from over 250 sportsbooks, with Dropping Odds features and automatic EV calculation. What makes this tool really interesting is that it has just 120ms latency, a lot faster than many other tools, and it has become hugely popular for its energetic approach to EV hunting, promising a 150% average ROI increase for members.
You can set up alerts for important line movements, up or down, and also get alerts for CLV prices, which are fantastic for bet tracking. OddsNotifier includes a free sheets tracker and a statistics bot, which can be accessed via Telegram (and the sheet is set up on a Google Doc that you can download and personalize). The bot and the sheet tracker are very well planned out, with important bankroll management strategies, data driven insights, and comprehensive market performance data. But we didn’t like that you can only get them via Telegram. OddsNotifier is more of a DIY tool than the rest when it comes to bet tracking, but it is a perfect supplementary aid to bettors who do the heavy lifting themselves.
The subscriptions are fairly priced; you can get Dropping Odds Alerts, EV+ Scanners, or Inplay & Suspicious Alerts. For its very quick and thorough EV tracking and alert setup, OddsNotifier justifies its price, we just feel that it is more of a tool for people who are used to doing their own bet tracking rather than those who want it done automatically.
OddsNotifier Pros:
- Intuitive tool that helps beat CLV and gain very high EV
- Set up notifications and capitalize on gaining longer lines
- Tracks odds at over 250 sportsbooks
- Gives you valuable data inputs for bet tracking
OddsNotifier Cons:
- Very DIY approach
- The bet tracker is not automated
- You need Telegram to access features
Why Do Bettors Use Bet Trackers?
Bet trackers are not new technology, and they are not overly complicated to use either. If you are using a bet tracker that automatically syncs your sportsbooks and logs your bets for you, then you have practically nothing to do to get it going. Just place your bets, and when they have settled, you can look back at the results and look for important metrics or patterns. Needless to say, having more input gives you a more accurate answer. Instead of relying on 10 bets you placed last month, if you have a record of 100 bets placed in the last year, you will gain more precise data.
Bet tracking can be used to assess how much you spend on your wagers and your success rate with your previous bets by type, odds, and other aspects. The reason why more bettors are turning to bet tracking software is that these are very easy to use and can give a lot of detailed information. You don’t need to build Excel tables yourself or single handedly monitor the odds bet by bet anymore. The best bet tracking software updates automatically and brings you important metrics in real time.
Tracking Your Bets Manually
When it comes to bet tracking, which sportsbook you are signed up to does matter. There are books that log your previous bets, but with little more information than the time of the bet and the outcome, perhaps with the type or a small description of the wager. But if you are a member of one of the top US sportsbooks, then you will find a pretty comprehensive tracker within My Bets. The best books store betting data like the type of bet you placed and the odds, which are really important for bet tracking.
But if you are to track your bets manually without any software use, then you must be prepared to build spreadsheets and record that data. First, you enter every bet you placed, along with the outcome, and make a habit of doing so every time a bet of yours settles in the future. The next step is creating tables from those spreadsheets, with figures to show:
- Bankroll changes over time
- Risk level to success charts
- Win ratios by types of bets
- Expected value over results
- Bought prices over CLV data
And there always more tables that you can make to go into more detail. Basically, you want to create a system that records all your previous bets and any you add to the list, and continuously records these important data points. It can be done, but with betting software, you get this all automatically, and some betting tools don’t even charge you for using their bet trackers.
Trackers for Advanced Strategies
Bet tracking can be used for simple money management and identifying your strengths and weaknesses. For these applications, you are essentially monitoring your progress and looking for statistics that can guide you in the right direction. Such as, you have historically better results picking MLB moneylines than you do betting on NFL spreads. Or, that your overall ROI looks more consistent when you stick with 3-leg SGPs rather than 5+ leg parlays on moneyline favorites.
For expert betting strategies, you can go into far more detail. It can help you work out which sportsbooks historically have the best EV, or how well you cut losses with your stake sizing strategies. Which sports yield the highest ROI on arbitrage bets, and what markets have the biggest line fluctuations – thus opening the best opportunities to beat the CLV. With an elite bet tracker, you can pinpoint these metrics and use them to develop your strategy.
Value Betting
Value bettors look for wagers with positive EV, measuring it as a means of catching bets with a better risk to reward ratio for longterm success. It is not a proven science, as there is no way of predicting what will happen in a game, but the theory is that with higher value bets, you are getting more for your money’s worth, mitigating risk and optimizing your budget.
One way of checking if the EV calculations are actually accurate or not is by tracking the EV+ in your previous wagers. You may use an EV betting tool to calculate value, and only pick wagers with an EV+ percentage of 5% or higher. So you plug the EV on every single bet placed into your bet tracker, and from there you can see how many of these value wagers actually hit.
The best EV betting tools with bet trackers will factor the assigned EV values into the tracker. Instead of taking the EV calculations at face value, you can analyze their potency, checking how well the EV+ bets did by type of bet, risk level, and even by sportsbook.
Closing Line Value Betting
The basis of this strategy is to get value, but specifically to get a better price than the closing price of the wager. Why? Because the odds right before the start of the game are perceived as the most accurate. There are no mid-week injuries or team press releases that may impact the game. Beating the CLV, in theory, means you are getting a better price than those closing lines.
It is easy in theory, but for bet tracking, it requires a lot of diligence. After placing your bets, you will have to quickly open the markets minutes before a game starts, and then make a note of the closing line value. Afterwards, when you have this data compiled for your bets, you can check how many times you beat this value, and by what percentage your bets beat it.
Premium bet trackers will automatically source the closing line values, so you won’t have to get these manually. What’s better, is that they don’t just take the CLV at your chosen sportsbook, but they look for the best market averages and pick those prices. We can argue that market lines tend to converge in the dying minutes before a game starts, but there are still minor discrepancies that may stick out. And if you beat the “best” CLV prices, you should be getting very good value.
Arbitrage Betting
You may ask, as an arbitrage bettor why should I track my bets? After all, you are hedging your wagers for an ROI that is predetermined – you know your ROI before the games start – and it should snowball your bankroll. Why go back in time and look at which wagers won or lost, after all you are not playing for the result but playing the mathematics.
Well, because if you have a data sheet with ROI figures, betting types, sportsbooks, and odds, you have the perfect template to find out where the arbitrage bets have the highest ROI. Instead of always looking for the same bets, or choosing the same sportsbooks for your arbitrage pairings, you can optimize your strategy based on where the ROI is best.
If you are also matched betting, or converting promos, this information can be factored in. For example, you get more frequent bonuses at Sportsbook A, and tend to find better ROI in NFL alternative spreads at that sportsbook and Sportsbooks B and C. Instead of browsing Sportsbooks A through Z, you can limit your search to just look at where your results have proven historically best.
Stake Sizing
There are many types of stake sizing strategy, and there is no one formula that beats all. Perhaps the most well known is the Kelly Criterion formula, where you have to calculate your stake based on the odds, Expected Value, and your overall bankroll. Once again, you use EV, but you are giving it more weight because that will directly shape how much money you ride on a single bet.
The goal of stake sizing is to allow some risk tolerance, but not go all out on seemingly valuable wagers. You are taking measured steps to capitalize on value, and if your EV assumptions can give you an advantage of 5-10% against the house, then your bankroll should grow. Without the EV, you are fighting against the juice, so the house has a 5% or higher advantage against you.
By tracking your bets, you can see how well they perform with your EV calculations, and this can give you the data input required to adjust your stake sizing strategy. If your calculations are spot on and create a 10% or higher advantage, it can be worth taking advantage and increasing your stake sizing.
EV calculations that are inconsistent or fail to bring the projected returns may require downsizing your stake, until you have found a better balance, or your results change. Remember short term variance can hamper those results, so you need plenty of input before making any larger assumptions.
Bankroll Management
There are many advanced strategies associated with bankroll management, these have less to do with your sports betting picks and more with how you size your stakes, plan deposits or withdrawals, and aim to make a profit in the long run.
Progressive Betting Strategies
Strategies commonly associated with casino games, such as progressive betting systems, can be used by sports bettors, but be very careful with these. In casino games, the odds are fixed. In blackjack, baccarat, roulette and craps, you can gauge the EV based on the number of cards/decks/roulette numbers/dice outcomes. Sports betting does not have the same limited number of outcomes or fixed probabilities. That being said, progressive betting strategy are when you change your stake after each bet, based on if it wins or loses.
You are essentially trying to either capitalize on variance or play cautiously to avoid it. These strategies make assumptions, so don’t take the given odds as a fixed probability. With bet tracking, you can assemble types of progressive betting strategies, and see how they fare with your sports picks.
Deposit/Withdrawal Management
Instead of topping up when you go bust or have 0 on your account, having a consistent balance of funds into your account can help keep your betting balance steady. The same goes for withdrawals, in expert strategies you are not waiting to hit $1,000 because it feels like a big milestone, but you are aiming for reasonable returns within reach, and can manage withdrawals on a more consistent basis.
Tracking the fluctuations in your bankroll can help you determine what those targets for depositing/withdrawing are. You can answer important questions like:
- How often do you plan to make deposits?
- What is the ideal “steady” balance to have in your sportsbook(s)?
- What are typical daily/weekly/monthly fluctuations in your bankroll?
- If you are making profits, how much and how regularly can you withdraw without impacting your desired steady balance?
- On losing streaks and negative ROI, how much do you want to increase deposits by?
- If you are in the negative, can stake sizing or using another value betting method worth trying?
The types of bets you pick, and your strategy for choosing bets and staking can play a massive difference on your results.
Risk Tolerance/Volatility
In casino games, the concept of volatility is based on how frequently a game pays out. High volatility means wins are rarer, but they tend to be a lot bigger. Low volatility means wins come more often, but are not as substantial.
In sports betting, the riskier you go with your bets, the higher the volatility in the results. High volatility bettors have a greater tolerance for risk, and therefore you should plan your bankroll for the possibility of wins coming a lot less frequent. Casino gamers playing high volatility games generally have larger bankrolls to sustain their gaming until they hit the wins. For sports bettors, it means you generally should use smaller bets to accommodate the losses, and hope that the bigger wins pay off the amount you lose in your other bets.
For low volatility bets/games, theoretically you win more often but in smaller amounts. So you can afford to spend more of your bankroll, because you have a higher perceived chance of winning. You won’t hit massive returns with your bets, but you are planning on gaining a more consistent winning record.
Just note, that volatility does not change the fact that anything can happen, and variance can tamper with your results. You can gauge the variance through the bet tracker and see if your results are consistent with the level of risk you take.
Picking A Betting Tool
Fortunately, bet trackers is the cheapest type of betting software around, and there are plenty of tools that offer these for free. Many of the more advanced betting tools, like OddsJam, also have bet trackers, but these are more sophisticated and have more professional features, like CLV or EV tracking.
When choosing your tool, we recommend starting with one of the cheaper or beginner’s tools to get an idea of how bet tracking works, and how you can use it. As your strategy evolves, you can explore the more advanced betting tools for deeper bet tracking analysis.
Many top tools offer their bet trackers for free, and all you need to do is sign up to use them. Should you need EV+, CLV, arbitrage bets, prop simulators or parlay optimizers, you can always upgrade your subscription and get those more advanced tools.
