This tutorial will help you keep track of your tips for horse racing.
With so many tipping services out there today it can become challenging to keep track of your selections. Tracking your tips for horse racing is one of the most critical processes a successful punter must have in place to provide clear visibility of profit and loss, trend analysis, strike rates and return of investment measurements.
We have created a simple spreadsheet template for you to download and track your tips for horse racing as part of this tutorial.
Already tracking your tips for horse racing in a spreadsheet? Check out the following articles which may further enhance your skillsets
THIS TUTORIAL IS LEVEL
Requirements:
- Microsft Excel 2010 or newer
- Downloaded tips for horse racing data file
TUTORIAL PURPOSE
- Learn how to track your tips for horse racing
- Use the statfreaks basic tips for horse racing template.
- Estimated Tutorial Time: 15-30 minutes
DOWNLOADS REQUIRED
* Downloads require a free statfreaks membership, register at www.statfreaks.com.au/sign-up to download!
- Know if you’re making a profit or loss?
- Which tracks the tips are performing well at, or not so?
- Is the tipping service subscribed making a profit for your tips for horse racing?
- What is the overall strike rate of tipping service?
- Is a staking or flat betting unit size more profitable with your tips for horse racing?
- What is the ROI (Return of Investment) from each tipping service?
The template provided in this tutorial will help you track your tips for horse racing and provide a breakdown of measures for two types of staking plans, staking the market price and flat bet unit size.
Staking Unit One: Takes one per cent of the set bank size, then divided by the market price available for that runner.
Staking Unit Two: Flat Unit size, which is one per cent of the bank size. e.g $10,000 * 1% = $100 Unit Size.
Once the tips for horse racing sample data file and template have successfully been downloaded and saved to your local computer move them to a working directory e.g. desktop or my documents for future ease of access.
SUMMARY SHEET:
By Default, the summary tab is empty and will only populate and calculate one data is entered into the tipping service tabs
- Tipper Name: Name of the tipping Service, automatically taken from a specific cell in the linked tipping tab.
- Stake bet P/L: Profit and loss using a stake unit size betting approach from the market price.
- Stake ROI: Return of Investment for stake unit size betting from the market price.
- Flat bet P/L: Profit and loss using a flat unit size betting approach.
- Flat ROI: Return of Investment for flat unit size betting approach.
- Strike Rate: The win strike rate of each tipping service.
TIPPER SHEET:
The tipper sheet is where you enter the tips for horse racing selections provided by your tipping service, or your own tips. The excel cells that are highlighted “ORANGE” are input type cells and is where you will need to enter your selections.
INPUT CELLS:
- Date: Date of the tip/bet one per line
- Track: The track/location
- Race: Race number
- No: The number of the runner
- Name: name of the runner.
- Tip Service: The name of the tipping service.
- Mkt Odds: The market price you were able to obtain/lock-in for that selection.
- Win: Enter “1” if the horse won, or “0” if it losses.
AUTO CALCULATED CELLS
The tips for horse racing template has built-in formula’s which auto calculate the returns and profit and loss for each staking plan.
- Stake Bet: The amount to use/used when betting for the staking plan, calculated by dividing the unit size by the market price “100/Market price”.
- E.G Cell P3 = $100, $100/$3.5 = $28.57.
- Flat Bet: The amount to use/used when betting for the flat betting staking plan.
- Stake Return: Amount returned from that line item for stake betting. Populates when the “Win” tab is populated.
- Flat bet Return: Amount returned from that line item for flat betting. Populates when the “Win” tab is populated.
- Return: Your total starting bank
- Unites Invested: For the specific stake plan, shows the number of units in dollar value invested
- Profit/Loss: Profit or Loss for a staking method in dollar value
- Return on Investment: The return of investment shown percentage
- Strike Rate: The win strike rate of the tipping service
- The number of Bets: Total number of bets
By default the tips for horse racing template is empty.
Before you begin you need to.
- Enter a starting Bank: Cell P1 e.g $10,000
- Set the Percentage of the bank to calculate the unit size: Cell P4, Percentage of Bank e.g 1%
Once this is done the UNIT SIZE will populate. It is important that you work with a unit size you are comfortable with. The lower the percentage set in “% of the bank”, the lower the risk and lower amount used from your starting bank.
Using the statfreaks tips for horse racing sample file supplied with this tutorial, copy the selections (excluding the Results Column) and past them into the template. Please be aware that different services may provide their tips for horse racing in various formats and structures. You may need to re-align the file they provide or type them in into the template manually.
Important note.
- Orange cells on the tips for horse racing template are for entering data.
Once a race is complete, go back into the tips for horse racing template and enter “1” for a win or “0” for a loss for the correct line in column “J”.
Once each line is complete.
- Columns K and L will populate when there is a return (win).
- The Summary area in columns O to P will populate.
DONT FORGET SAVE TO TIPS FOR HORSE RACING MICROSOFT EXCEL TEMPLATE.
In conclusion, tracking your tips for horse racing, or any tipping service for that matter must be at the top of your priority list. As this template begins to populate, you will accurately be able to track each service independently. A few other ways you can use this template is.
- For documenting tips provided by a service.
- Documenting your tips
- Tracking your tipping models and betting strategies.
- Can be used for any form of racing.
I hope you enjoyed this quick tutorial if you have ideas for the future template, tutorials please drop me a message via our contact form found HERE.
Stay tuned for a video release and further advanced templates soon.