When each game is finished, grade the results in the "Results" column by entering either WIN, LOSS, or PUSH. Next, click on the 'Pivots' tab. Right click any of the pivot tables and Refresh. It includes the date, casino, hours of play, and the outcome (win/loss). The spreadsheet also creates a line graph that makes it easy to visualize any trends. It really helps to show how better rules = better results, and if an abnormal downward trend occurs - the spreadsheet helps the analysis of whether I changed my play somehow and refocus Bet Tracker Spreadsheet Metrics. Deciding what to track is important in determining how you measure success. The spreadsheet tracks the following key metrics: Closing Line Value. Closing line value (CLV) is a measure of how much better or worse the odds you bet at were compared to where they closed. Gambling Winnings. ¥ W agering tickets, cancelled checks, substi - tute checks, credit records, bank withdraw - als, and statements of actual winnings or payment slips provided by the gambling establishment. Court Case: The taxpayers had gambling win - nings of $45,634 and claimed an itemized deduc - tion for gambling losses of $45,634. The Amount of your gambling winnings and losses. Any information provided to you on a Form W-2G. The tool is designed for taxpayers who were U.S. citizens or resident aliens for the entire tax year for which they're inquiring. If married, the spouse must also have been a U.S. citizen or resident alien for the entire tax year. The win/loss amount is net; its accuracy hinges on several factors. The first is the consistency of the taxpayer’s use of the card when playing slot machines. the practice of recording at the end of each day an amount purported to represent his net gain or loss for the day from gambling transactions. He recorded these amounts (preceded by The following rules apply to casual gamblers who aren't in the trade or business of gambling. Gambling winnings are fully taxable and you must report the income on your tax return. Gambling income includes but isn't limited to winnings from lotteries, raffles, horse races, and casinos. It includes cash winnings and the fair market value of prizes, such as cars and trips. The losing gambler thinks of gambling as entertainment and views tracking their profits and losses as unnecessary work. (I have set this to auto calculate once the profit/loss has been entered) Download Spreadsheet Here! I hope I have convinced you of the merits of recording your results. We at Betting Tools have devised a spreadsheet for keeping track of all your bets. All you have to do is name the bet, set the stake and odds, choose the bookmaker from the dropdown and then choose win or lose once it has been completed. The spreadsheet does the rest and works out your profit loss on that particluar bet and overall. Absolutely, just make sure it includes all wins and losses separately and is not a combined number. You should show your gambling winnings as income and then your gambling losses as an itemized deduction, if you qualify.
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