You don't need to bother with a spreadsheet if you just use a bookies that tells you your profit or loss. Skybet gives you the stats for 7 days, 30 days and 12 months. I'm sure others do as well. Either put x amount into your account every week (until you've built up a nice profit and you don't need to) or put in a lump sum for your bankroll that you're prepared to lose and if you do lose it then cut your losses and just quit. Hopefully that won't be the case and you can keep playing with your profits which is what I do and withdraw it at the end of the season or keep it there and keep going. People should be keeping track of their wins and losses because you'll have no idea how much you're truly winning or losing and things can go off the deep end if you don't.
That doesn't work for me, i need to have a spreadsheet:
1. Big bank - i don't feel comfortable depositing large amounts to any single entity
2. Multiple sites - I am using at least 4 betting sites regularly, 2 domestic ones (fiat) and 2 crypto (nitrogen, wbet7). When you start entering bets in spreadsheet and see how much of $ difference you get for a little bit better odds..... It really compounds at the end of year. While I was betting only in fiat as per regulations in my Country I had to pay 5% of every stake. Doesn't sound like much. But a the end of year i had a profit of about 1500$, without that 5% I would have profit of more than 10000$.
3. More detailed statistic - I am keeping track of various stats. Like % of win on doubles, trebles, multiples. Then % of wins trough different sports and even leagues. That is why i know that I have by far best results on Champions League and ATP1000 tennis tournaments, while I am awful in Grand Slams and Europa League. Helps a lot with stake management.
I think treating gambling like you do trading or with investing in bitcoin is a good idea (only play with what you can afford to lose), though I'd feel a little off calling gambling an investment personally.
This could be one of those language barrier things. I also treat trading as investment as well as buying BTC obviously. I treat everything I expect return on, as investment. I consider all 3 of above mentioned as high risk investments but at this stage in my life that is the only kind I have enough money for
And always, only use cash you can afford to lose.
I really need a good crypto accepting betting site. By good I mean reputable, without limits and with best possible odds (smallest margins). Bitcoin rush has good odds/margins and markets but user experience is terrible, nitrogen is lagging a bit on odds and very much on markets while wbet7 could have better odds. Have I missed anything really good?
I can't use non local fiat betting sites because of probable tax problems down the line. And local ones take 5% of your stake + 10% of your winnings which is horrible and make serious betting impossible.