Should we keep a strict record of every single win and loss?

[ColdLava40]

I don't know if this has been talked about here before, but it’s been on my mind for some days now.

​Many times as gamblers, we choose to just flow with the fun and excitement we get from it. By doing that, we don't have to think or worry too much about the losses we incur.

But if we look at it closely, gambling is ultimately an expense. Shouldn't we be keeping a proper record of exactly how much we put into a casino and lose, versus how much we actually make when we win?

​I was thinking that this kind of habit would benefit us in several ways. For one, it helps you know if your gambling risk is getting too high, allowing you to pivot or budget a much smaller amount so you don't end up blowing through your hard earned income on casino games.

​To add to this, I feel like tracking your stats acts as a massive reality check. Our brains naturally love to remember the massive 100x wins but conveniently "forget" the ten times we reloaded our wallets after a bad run. Plus, since most of us are using crypto here, it is easier to make deposits without thinking too much. ​If you don't track your bankroll, you're basically flying blind.

​How many of you actually keep a notebook record, or use the casino's built in stats tool to track your net profit/loss? Or do you just deposit, play, and prefer not to know the exact numbers for the sake of your peace of mind?

[Charles-Tim]

I have used some gambling sites before that I can check all my losses or my profits or both at the same time for a period of time like a year. But I am no more going through it anymore. Since I have been using Stake.com, I do not know if the gambling site have anything like that because I am gambling with little amount of money. I think there was a topic like this recently, but I am not 100% certain.

[Frankolala]

I will prefer to only make an assetment of my gambling activities every year and not to track or keep records manually because you can see that from your account by checking your gambling history. However, whatever amount of money I assign to gambling is considered a lost to me and I accept it like that.

[Charles-Tim]

I will prefer to only make an assetment of my gambling activities every year and not to track or keep records manually because you can see that from your account by checking your gambling history. However, whatever amount of money I assign to gambling is considered a lost to me and I accept it like that.

I think you meant assessment. I am using just 1% of my weekly income to gamble. In fact, it is worse this year as it is a bit lower than 1% of my weekly income. I do not even bother to make any assessment at all because I know I have gambling in country and it is only taking just tiny part of my money which does not need any calculation. I just wish many gamblers are like me. But for anyone that is gambling with higher amount of money should make sure they do the assessment.

[Perfectbaby]

Before anyone out there goes into gambling it’s assumed that they have already mapped out money for gambling and for that, they already have specific amounts which could be used to gamble where it wouldn’t affect them so much because when talking about keeping records on how much are spending gambling. You are indirectly reflecting to how much you should be making in returns whereas your interest isn’t ultimately for entertainment purposes hence you are looking for a way to get back what you had spent while gambling. Of course it is actually good to keep records but that should be in a form that you aren’t expecting anything back as returns rather as a means of gambling for a sole purpose of entertainment.

[nara1892]

I agree with the idea that gamblers should keep records of their income and expenses. If you don't mind, in other words, it's not complicated, then go for it. I think it will indirectly tell us how much money we've lost and how much we've won.

I think most gamblers already know that the percentage of losses is always much higher than wins, but when there's no tangible data to see, it's easy to forget. One thing I've learned from gambling is that the memory of winning always drives people to play; they seem to forget how much they've lost. Therefore, I think keeping track of income and expenses is quite effective.

[Su-asa]

As long as you are making deposits from your Bank account it is going to show you how much you spend on gambling just in case you find it stressful to keep track of your wins and losses. As for me, this is something I used to do until it started getting really exhausting so I had to stop doing that and I don't take gambling seriously so I didn't really see any point In checking what I have won and lost in the long run. But it is necessary if you are the type that gambles for profits, this will make you know where you stand.

[allfriends88]

Honestly, I rarely check my winnings or losses on casino sites. It's not that I don't care, but because I only gamble on one site, which allows me to keep track of my monthly expenses (losses) and winnings without checking or recording them. Furthermore, I'm a small-time gambler, spending no more than $15 per month.

[OgNasty]

For me, gambling should be about fun.  While I do appreciate some good statistics, I couldn't imagine breaking up my fun to keep records.  If the casino kept records it might be interesting to look at, but as far as ruining my night over some winning percentage based off nothing but luck, not ever going to happen.  If people are that obsessed with winning or losing, I would urge them to try a game of actual skill that they can dominate at as opposed to a game of luck where your letting your emotions ride on an outcome you can't control.

[Ashawowo(OS)]

But if we look at it closely, gambling is ultimately an expense. Shouldn't we be keeping a proper record of exactly how much we put into a casino and lose, versus how much we actually make when we win?

​I was thinking that this kind of habit would benefit us in several ways. For one, it helps you know if your gambling risk is getting too high, allowing you to pivot or budget a much smaller amount so you don't end up blowing through your hard earned income on casino games.

You don't manage your income better with statistics of your casino inflows, it might be catastrophic even before you check the stats and you may have lost it before then. Accurate cash-flow management should be observed as soon as you receive your income and a stipulated budget should be made available for gambling. I use max of 3% of my monthly earnings to gamble, it has been like that for almost 2 years now and it is best to checkmate it even before you engage

​How many of you actually keep a notebook record, or use the casino's built in stats tool to track your net profit/loss? Or do you just deposit, play, and prefer not to know the exact numbers for the sake of your peace of mind?

I don't ever do this, I don't see the need. I have a budget which I follow and if I see that the budget is much compared to my earnings, I can reduce it from the allocation I make and not really from the gambling statistics.

[Fiatless]

I have used some gambling sites before that I can check all my losses or my profits or both at the same time for a period of time like a year. But I am no more going through it anymore. Since I have been using Stake.com, I do not know if the gambling site have anything like that because I am gambling with little amount of money. I think there was a topic like this recently, but I am not 100% certain.

Your thoughts are accurate. One can easily calculate their wins or losses through the records in the casino account. Therefore, there is no need to keep a record of gambling transaction and outcomes. I don't see tracking my gambling situations as serious since I gamble with an insignificant part of my income. However, I occasionally go through my accounts when I have the time just for fun.

[ryzaadit]

IMO, yes.

So you know its profitable or not and also to keep you in track for how much money you are spend. Profits, loses and other to make sure is worth it or not. I always track it, more likely on winning section.

Its always.

[Bryan jessy]

There is nothing wrong in keeping records of wins and losses in gambling this way a gambler can minimize the rate at which he plays and look into the amount he has been playing with if it needs to be increased or reduced, it is a great idea. Some people believe that because gambling is for fun that keeping track of the expenses is not necessary, trust me the best way a gambler can help himself is by tracking all that he has spent either weekly, monthly or yearly depends on which is suitable for him this method will help tackle addiction too and minimize losses.

[KTChampions]

I don't know if this has been talked about here before, but it’s been on my mind for some days now.

​Many times as gamblers, we choose to just flow with the fun and excitement we get from it. By doing that, we don't have to think or worry too much about the losses we incur.

But if we look at it closely, gambling is ultimately an expense. Shouldn't we be keeping a proper record of exactly how much we put into a casino and lose, versus how much we actually make when we win?
~

This has been discussed 500 times already and such discussions probably start every month  
Let me start by saying this: let's forget about gambling. Instead, think about whether you track how much you spend on other things? "Unnecessary" food you buy just for fun, booze, or some other hobby? I don't think so, because most people consider such expenses justified - pleasure is pleasure. What do these figures mean when converted to an annualized figure? Almost nothing, since they do not take into account what the person received in return.

[Loyang]

There are more advantages and disadvantages of keeping accounts. For example, if we consider the disadvantages, we will see. Many times we face losses and start gambling more aggressively in the hope of recovering these losses. For example, suppose you are facing a loss of $ 500 and the next day you start gambling and you have won $ 300 and at that moment you do not withdraw your profit and start playing aggressively to withdraw the money you lost earlier.

There are many people who can control themselves and if they keep accounts, they can easily find out the profit and loss and this will be a good aspect for them. However, in the case of gambling, it is more important to gamble based on their financial situation instead of calculating the profit and loss.

[robelneo]

​How many of you actually keep a notebook record, or use the casino's built in stats tool to track your net profit/loss? Or do you just deposit, play, and prefer not to know the exact numbers for the sake of your peace of mind?

I'm playing both at the casino and on some betting platforms like off-track betting stations and the lottery, and I never keep records; I don't want to be depressed if I know that I could already build a house with all my losses over the years of gambling.

I just treat it as it is and enjoy the thought that at least I make myself happy and entertained every time I play, and that, for me, is priceless. I just moved on with my life, and sometimes you have to pay for the things you enjoy.

[Yorubek]

In reality, gambling is mainly for entertainment, for quick money or with the mentality of changing your life, it is not right at all. Winning through gambling depends on luck and luck is not always helpful, so the possibility of loss is more than gaining money, so it is better to gamble for entertainment with the money we can afford to lose. It is very important to start gambling by determining the time and money, all gamblers who gamble by determining the time and money do not waste extra time and do not have to face extra money loss, by gambling you can stay within your means and control your greed, thus you can protect yourself from the destruction of gambling.

[Pikiboy]

Gambling and recording is like wanting to know how much you do spend gambling and it is very important to know  what you are spending while gambling and as a reasonable gambler who cares to know how much he is spending while gambling could help to reduce over spending. When you track down how much you are spending to gamble without seeing the profits coming that way there is every need to strategically develop another method of gambling which could help to increase the rate at which such person could be losing and also making back from the gambling site.

[Fortify]

I don't know if this has been talked about here before, but it’s been on my mind for some days now.

​Many times as gamblers, we choose to just flow with the fun and excitement we get from it. By doing that, we don't have to think or worry too much about the losses we incur.

But if we look at it closely, gambling is ultimately an expense. Shouldn't we be keeping a proper record of exactly how much we put into a casino and lose, versus how much we actually make when we win?

​I was thinking that this kind of habit would benefit us in several ways. For one, it helps you know if your gambling risk is getting too high, allowing you to pivot or budget a much smaller amount so you don't end up blowing through your hard earned income on casino games.

​To add to this, I feel like tracking your stats acts as a massive reality check. Our brains naturally love to remember the massive 100x wins but conveniently "forget" the ten times we reloaded our wallets after a bad run. Plus, since most of us are using crypto here, it is easier to make deposits without thinking too much. ​If you don't track your bankroll, you're basically flying blind.

​How many of you actually keep a notebook record, or use the casino's built in stats tool to track your net profit/loss? Or do you just deposit, play, and prefer not to know the exact numbers for the sake of your peace of mind?

There's no need to record all your wins and losses unless you think you're somehow able to make a long term profit out of betting, which is simply not realistic for the average casino or even sportsbook player. Most sites these days will also give you a profit and loss account of all transactions - usually carefully tailored not to remind you how much you've lost all time., or at least bury it away behind a few clicks. For 90%+ gamblers who are just doing it for casual fun, then it's probably a waste of time and effort unless you simply want to watch the slow decline of your funds with the occasional spike. The casinos are very up front about the odds you get in each game and it's really basic mathematics to understand you'll lose long term.

[Muba20]

We should keep a strict account of every win and loss. The points you mentioned are reasonable. We get entertainment from gambling but we have to use money to play it. If we win using money, the amount of happiness increases but if we lose, the desire to bet to win again increases. This is the biggest cause of harm for us. Because just as you said, our brain likes to remember the amount of winning repeatedly. But it does not want to keep a proper count of losing. As a result, the amount of loss is more than the amount of winning in a gambler's life. And due to lack of gambling statistics, gamblers easily become addicted to gambling. While gambling, all gamblers feel that the bets are free from their will. But when they lose, they easily refuse to accept defeat and start looking for their mistakes. And think that because of this small mistake, I did not get such a big return. I will not make such mistakes in the future.