How to Make a Betting Pool on a Spreadsheet

A betting pool is a group of people putting their money together to take a risk on a single event. The concept is simple but has a lot of potential. You work with your friends, family, or colleagues to pool your money together to bet that a particular football team will beat another football team. The objective is to make the most profit while minimizing the risk. You can find lots of examples of betting pools on the internet if you search for them. Some of the more notable examples are the 2004 Superbowl or the 2006 World Cup. During those events, numerous people got together and decided to bet on the winning team. The concept is interesting when applied to sport and definitely has some benefits. However, applying it to something as unpredictable as stock market trading can be difficult. That’s why we’ve gone ahead and collected a list of tips that will help you set up a successful betting pool on your own personal finances. Here they are. 

Find A Surprising Event

In most cases, you’ll be betting against the spread. That means you’ll be choosing one team to cover the point spread and one team to cover the over/under. For example, you’ll be betting on the New York Giants to beat the Philadelphia Eagles by 10 points, but you’ll only be paying for the points. You aren’t betting on the whole game. The key is ensuring that the event that you choose for your pool is unpredictable. Nobody can predict what will happen in a football game, but many events that occur in sports are perfectly predictable. Basketball, for example, is a sport that’s highly predictable. There are only ten possible outcomes for a single game. In other words, if you aren’t randomizing your choices, you’re leaving a lot of opportunity for others to capitalize on your ignorance. To give you an idea of how predictable various sporting events are, here are some of the most notable odds from recent years (as of September 2018):

New York Rangers vs New York Islanders

Odds: Rangers -110, Islanders +100

Prediction: Rangers win, 5-1

The New York Rangers and the New York Islanders are both American professional hockey teams that play in the NHL. This is the final game of the 2018-19 season for both teams, and you’ve got the perfect chance to make some money by getting in on the action. The Rangers are currently led by Kevin Shattenkler in goal, and he’s been their starting goalie throughout the season. In 30 games, Shattenkler has only given up 29 goals while playing exceptionally well and earning praise from head coach David Quinn. The Islanders, meanwhile, are coached by Jack Capuano and guided by Jordan Eberle and Brock Nelson in the forward line. Eberle is the leader of the group and has 25 goals while shooting at a phenomenal rate. Nelson finishes the season with 21 goals. Defencemen Calvin de Haan and Ryan Pulksi lead the way for the Islanders with 17 and 16 shutouts, respectively. The teams have met three times this season, with the Rangers winning the most recent matchup, 3-0. That result was a major upset, considering the Islanders had won the two previous games, and it demonstrates how unpredictable the 2018-19 season has been. This is the perfect event for a betting pool, as the outcomes aren’t pre-determined and can change at any moment. You’ll have to be quick on your feet however, as the odds will change as soon as the puck drops.

Los Angeles Rams vs Los Angeles Chargers

Odds: Rams -175, Chargers +155

Prediction: Chargers win, 24-23

The Los Angeles Rams and the Los Angeles Chargers are both professional American football teams that play in the NFL. This year has been a great story for the Chargers, who finally managed to break their losing streak and claim a couple of wins. The team was very young last year, with only one player, Melvin Gordon, being over the age of 30. Gordon has 25 carries for 88 yards and two touchdowns in their most recent game against the Kansas City Chiefs. They also have 26 catches for 243 yards from Tyrell Williams and Keenan Allen. The Rams, meanwhile, are led by Jared Goff in the quarterback position and are looking for a new head coach after Jeff Fisher retired. This is a great example of a relatively unpredictable event, as the Rams are 1-4 against the spread this year but have gone above the point spread in four of their six games. The Chargers are also 1-4 against the spread but have gone above the line in all of their games.

Chicago White Sox vs Detroit Tigers

Odds: White Sox +145, Tigers -145

Prediction: White Sox win, 6-3

The Chicago White Sox and the Detroit Tigers are both American professional baseball teams that play in the MLB. This is the first game of a three-game series between the two teams and it’s their annual rivalry game. The White Sox have been on the rise over the past few seasons and are currently led by a 24-year-old rookie named Lucas Giolito in the starting rotation. Giolito has been outstanding this year, and in 35 starts, he’s given up only 16 runs while striking out 98 batters. He leads the majors in both strikeouts and innings pitched. With Chris Sale and Jose Quintana contributing with the bat and the mound, the White Sox are a force to be reckoned with. This is a team you can bet on. The Tigers haven’t been performing well this year, however, going only 3-3 against the spread with losses to the New York Yankees, Boston Red Sox, and Cleveland Indians. Miguel Cabrera leads the team in home runs with 19 while Victor Martinez, Jr. and Andy Dirks have 18 and 17, respectively. Martinez and Dirks both lead the MLB in stolen bases with 43 and 42, respectively. If you’re searching for a random event to put a pool together on, this is a great game to watch. The White Sox have a winning record (12-6) against the Tigers this year.

Texas Rangers vs Houston Astros

Odds: Rangers -185, Astros +155

Prediction: Astros win, 4-3

The Texas Rangers and the Houston Astros are both American professional baseball teams that play in the MLB. This is the second game of a four-game series between the two teams and it’s their annual rivalry game. The Astros have a new head coach but have continued their playoff form from last year and are looking to build on that momentum. The Rangers, meanwhile, are still searching for a new head coach after Jeff Banister was fired earlier this year. The team started the season with rookie leader Keynan Middleton in the rotation but he was recently replaced by Jordan Lyles. Lyles hasn’t pitched well but has managed to stay in the rotation due to injuries to other starting pitchers. In 28 starts, Lyles has given up 25 runs while striking out 67 batters. The Astros are led by Carlos Correa in the middle of the lineup while George Springer and José Altuve have both been very good offensively. The Rangers don’t have much to look forward to this year, having missed the playoffs for the second straight year. They did manage to win the AL West but they were eliminated in the ALDS by the Boston Red Sox. This is a team you can’t bet on, as they’re going to lose most of their games this year.

Miami Marlins vs St. Louis Cardinals

Odds: Marlins -135, Cardinals +105

Prediction: Cardinals win, 3-2