Accounting for arbitrage bets and profitability analysis
In this article, we will explore how to properly track arbitrage bets, what tools to use, and which metrics help evaluate the profitability of your strategy.
Why is tracking arbitrage bets important?
Tracking your bets helps:
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Monitor the movement of funds
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Evaluate the effectiveness of the strategies used
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Analyze the success rates of different bookmakers
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Identify errors in calculations and bankroll management
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Optimize future bets and minimize risks
Without proper control, you can quickly end up in the red due to calculation errors, bookmaker limits, or incorrect bets.
Parameters for tracking bets
When keeping records, it is important to record the following parameters:
- Date and time of the bet – allows for analyzing activity and tracking changes over time.
- Bookmaker – helps track where profitable arbitrage opportunities (surebets) appear more frequently and where restrictions might arise.
- Event outcome – it is necessary to record which outcome options the money was bet on.
- Odds – a key indicator for calculating arbitrage opportunities.
- Bet size – determines how much money was invested in each outcome.
- Bet result – whether the bet was won or lost, and what the final profit was.
- Total bankroll – the current account balance, helping to track the growth or decline of capital.
Methods for Recording Arbitrage Bets
Excel and Google Sheets
The simplest method is using spreadsheets in Excel or Google Sheets. For convenience, you can create automatic formulas to help calculate the profitability of each arbitrage opportunity, account for bookmaker commissions, and analyze overall profitability.
Built-in functions of arbitrage scanners
In premium arbitrage scanners, bet tracking is usually included as a basic feature. They allow for detailed analytics and automatically track profitability.
Automated bots and APIs
If you have programming skills, you can create your own bot that will collect betting data and analyze it automatically. Using bookmaker APIs can significantly simplify the accounting process.
Comparison Table of Tracking Options
| Method | Difficulty Level | Automation | Beginner-Friendly |
|---|---|---|---|
| Excel / Google Sheets | ⭐ | ❌ | ✅ |
| Surebet Scanners | ⭐(⭐) | ✅ | ✅ |
| Bots / API | ⭐⭐⭐ | ✅✅✅ | ❌ |
Arbitrage Betting Profitability Analysis
ROI (Return on Investment)
This parameter shows how effectively the invested funds are being used. The calculation formula is:
📌 Example of ROI Calculation
You placed surebets totaling €100 and made €6 profit. ROI = (6 / 100) × 100% = 6%
Average Profitability per Arbitrage Bet
This determines how much each bet earns on average and helps identify the most profitable strategies.
Assessing Bookmaker Limits
Some bookmakers quickly limit bettors who engage in arbitrage betting. It is important to note which bookmakers impose limits and look for alternative options.
Error Analysis
Recording errors (incorrect odds calculations, delays in placing bets, etc.) helps improve the strategy and avoid financial losses in the future.
Conclusion on Bet Tracking
Proper tracking of arbitrage bets is the foundation of successful work in this market. Without systematic analysis, you can not only lose profits but also risk being restricted by bookmakers. Using Excel, specialized services, or automated bots can help minimize errors and significantly increase the profitability of arbitrage betting.