What’s the Value of Using Spreadsheets for Gambling?

Spreadsheets for Gambling

Spreadsheets are not just used in nine to five office jobs. They can be used for people with all different interest. This ranges from day-to-day activities, calendars, budgets and gambling too. In this post we’re going to reveal a few reasons why social gamblers can get value from using spreadsheets. By the end, you’ll be creating your own sheet and preparing for your next session.

1) Tracking results

The first obvious benefit of using spreadsheets is to track you results. Using simple formulas like auto sum is all that is needed. Create a column for the date, game format and amount won or lost. That’s all you need to do. When it comes to using a spreadsheet for poker, blackjack, sports betting or whatever game you like, just enter the results for the day. By summing up the totals you can get a snapshot of how you’re doing.

2) Good practice to keep records

Most countries in the world do not charge tax on gambling winnings. However, there are a number of countries that do. By keeping accurate records on databases like spreadsheets you will be more compliant. Furthermore, if you’re ever investigated, you can show your spreadsheets to authorities as evidence.  

If you are keen to use a spreadsheet, it’s a good idea to use password protection to protect your sheets. You should also save it on a USB and keep it away from others finding it. 

3) Protects you from addiction

Anyone who is going to the time and effort to create a spreadsheet will be mindful of how long and how frequently they are playing. By using a spreadsheet you’ll be taking things seriously. As you’ll be watching your results, you will be more protective of what you gamble with. This is a good thing as it protects you from the obvious pitfalls of gambling. 

4) Find your strengths and weaknesses

By entering session results of different games, you should be able to filter results by game type. This is an invaluable resource as it can show you which games you do well at and which you don’t. The facts are there in front of you. Armed with this information you can make informed decisions in the future. For instance, you may find that you do well at roulette but terribly at slots. So, in light of this information, you may opt to quit slots and play more roulette. Little insights like this can be great for your mindset and better for your bankroll.

Clearly there are benefits to using spreadsheets for gambling. It encourages you to take it seriously as you should. It protects you from the dangers inherently involved in gambling and also helps you find out which games you’re suited to. You don’t have to be a technical genius to use spreadsheets either, some basic functions are all that’s needed. If you have any difficulty, just head over to YouTube and watch some instructional videos to get up to speed.

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