Do You Include Rakeback in Your Gambling Results?

[I_Anime]

A quick one. For those who like the idea of tracking their gambling performances, that is their losses and wins. Do you only focus on your losses and wins alone, or do you also track your rakebacks and Bonuses?

For example, your total losses for the month is $1000 and you somehow manage to get $150 back as your rakeback, would your say your total net loss is $850 or would you prefer to set your rakeback aside?

If you want to proper keep track of your gambling activity adding your rakebacks will definitely be a nice idea . Normally no matter how small or big is still part of your profit . The way I understand it is like someone owing -$1000 then he or she managed to pay $150 , leaving the individual with -$850 showing that the debt has reduced that’s how I understand it so yeah will be nice to not set it aside .

[Africolo]

Look, the thing I personally follow is how much money I gained and how much money I lost while gambling. Because if someone does not calculate gambling, then he will not be able to gamble for a long time and will lose his money, so keeping a gambling account is very important. I bet fifty dollars, and if I earn 100 dollars from that, then I have fifty dollars of profit because the entire capital is now under my control.
I have 100 dollars in my wallet now, if I lose ten dollars or 20 dollars from that, then I will have a total of 80 dollars, I have lost 20 dollars. Because if I do not keep this account, I will not find out how much money I gained and how much money I lost later, so whatever money I have in my wallet is under my control.

It's not mandatory that everyone who gambles keeps records of their winnings and looses, now if you carefully look back at what has been recorded if one is keeping records of their wins and looses, the percentage of what has been loose is greater than what has been won, there is no way your winning percentage can be greater than looses percentage because majority of gamblers are always loosing and it doesn't favor the gamblers unlike the casinos owners which is believed that the platform is made to the advantages of the casinos more than the gamblers.

I personally don't keep records of what I lost because I once did and the results I saw was so disturbing to the heart so since then I stopped and have my small budget which I play with and once I exhaust it I take a break from gambling until I fund it and start playing again.

[Crytohillss]

Look, the thing I personally follow is how much money I gained and how much money I lost while gambling. Because if someone does not calculate gambling, then he will not be able to gamble for a long time and will lose his money, so keeping a gambling account is very important. I bet fifty dollars, and if I earn 100 dollars from that, then I have fifty dollars of profit because the entire capital is now under my control.
I have 100 dollars in my wallet now, if I lose ten dollars or 20 dollars from that, then I will have a total of 80 dollars, I have lost 20 dollars. Because if I do not keep this account, I will not find out how much money I gained and how much money I lost later, so whatever money I have in my wallet is under my control.

It's not mandatory that everyone who gambles keeps records of their winnings and looses, now if you carefully look back at what has been recorded if one is keeping records of their wins and looses, the percentage of what has been loose is greater than what has been won, there is no way your winning percentage can be greater than looses percentage because majority of gamblers are always loosing and it doesn't favor the gamblers unlike the casinos owners which is believed that the platform is made to the advantages of the casinos more than the gamblers.

I personally don't keep records of what I lost because I once did and the results I saw was so disturbing to the heart so since then I stopped and have my small budget which I play with and once I exhaust it I take a break from gambling until I fund it and start playing again.

You are very correct on this, its not guarantee that people who gambles can really keep their record result if one is careful looking at what he has keeping as a result of recording his wining or theirs loosing the momentum of his percentage of what he has lost is not greater than that he is expecting  sometimes  it is very important to record the date on one have actually again during gambling journey.
So me personal i wil rather keep the date on how i stack in any of game if my success went true i shall be proud of the day i won. So keeping record sometimes its very essential and so how remembering.

[Uhwuchukwu53]

On thing is eminent is that every gambler deem certain factors necessary in record keeping not everyone will see it as important aspect as some regards their loss as what is not even meant to occur even feel angry with their slip seen a loss trigger them to trash such slip.this aspect of record keeping is best and important for those that have taken gambling as full time job , which focus is centered on gambling as that will help to improve and know their losses or gain in the period they engaged on the gambling not regular gambler may find it hard to even keep such record. Note some gambler still gamble outside using gambling center while some do it online it's easier for online because the winner and losses can and easily recorded but where slip is printed is hard to keep most time.

[hedgeh0g]

A quick one. For those who like the idea of tracking their gambling performances, that is their losses and wins. Do you only focus on your losses and wins alone, or do you also track your rakebacks and Bonuses?

For example, your total losses for the month is $1000 and you somehow manage to get $150 back as your rakeback, would your say your total net loss is $850 or would you prefer to set your rakeback aside?

Rakeback should definitely be considered in the final results in terms of gambling losses, because this is the same ordinary money as if you earned it in slots or poker. I believe that, of course, rakeback should be taken into account, and this may mitigate a little bitterness if you lose, but in no case should this money be immediately put into circulation again for gambling because gambling should be restrained. And if the gambler, as stated in your example, lost 1000, then he should draw conclusions for the 150 dollars that were returned to him, he should pay for everyday needs such as food or housing. Because commitments are important first and foremost.

[Sim_card]

If you want to proper keep track of your gambling activity adding your rakebacks will definitely be a nice idea . Normally no matter how small or big is still part of your profit . The way I understand it is like someone owing -$1000 then he or she managed to pay $150 , leaving the individual with -$850 showing that the debt has reduced that’s how I understand it so yeah will be nice to not set it aside .

I feel that every gambler with their own decision how they take their rake back into account. Personally, I always add it to my initial losses which means that it will reduce my losses for that month unlike, when I am not given any rake back. Some don't consider it as their real money because it's not from their pocket.

[pawanjain]

At the end of the day, whatever remains in my account is what I take a count of. It doesn't matter for me whether it's from rakeback or bonuses or from my initial capital.
For me, it's very simple. Whatever I had deposited minus whatever is left is the amount I have lost while gambling.
Eventually I am gonna lose all of it, so why bother tracking rakeback and bonuses separately. I know it's more of an individual decision though.

[xenomorfo]

At the end of the day, whatever remains in my account is what I take a count of. It doesn't matter for me whether it's from rakeback or bonuses or from my initial capital.
For me, it's very simple. Whatever I had deposited minus whatever is left is the amount I have lost while gambling.
Eventually I am gonna lose all of it, so why bother tracking rakeback and bonuses separately. I know it's more of an individual decision though.

In fact i had never seen it from this point of view, honest and interesting as a way of thinking.
even if it's not money that you can't withdraw it's still money that is useful for playing, so right.
Your way of thinking is absolutely right.

[Pandorak]

A quick one. For those who like the idea of tracking their gambling performances, that is their losses and wins. Do you only focus on your losses and wins alone, or do you also track your rakebacks and Bonuses?

For example, your total losses for the month is $1000 and you somehow manage to get $150 back as your rakeback, would your say your total net loss is $850 or would you prefer to set your rakeback aside?

Not at all. If someone asks how much i lost this month, i’ll still say $1000, not $850. For me, rakeback is a separate matter, besides, including it in the calculation won’t make the loss seem any smaller. So it’s better to track both separately, the total net loss and how much i received back from rakeback and i’ll combine them in my next gambling session when i have a new budget. Or if i decide to use that rakeback and still end up losing, i’ll add the new loss to bring the total to $1150 .

[Nwada001]

If you want to proper keep track of your gambling activity adding your rakebacks will definitely be a nice idea . Normally no matter how small or big is still part of your profit . The way I understand it is like someone owing -$1000 then he or she managed to pay $150 , leaving the individual with -$850 showing that the debt has reduced that’s how I understand it so yeah will be nice to not set it aside .

How you understand is right, but at the same time it’s also wrong. Only a few casinos are able to give a no-wager-requirements rakeback/cashback, which can be withdrawn anytime without you needing to wager it first, and it’s mostly for VIP players, while other casinos give it back in the form of a bonus, which you can’t withdraw the rakeback from unless you wager it, and that part can’t be calculated in terms of deducting how much you have lost to the casino since you still have to risk it.

[Rashlyowl]

No, I keep it separate from the initial balance or any winnings (if I win). Fact about my gameplay, I don't regularly claim rakeback bonuses, I let them accumulate over a long period until I've gathered at least $100. When it reaches $100, I will claim it. I think I have answered our main question here.

[WhoYouCantKill]

Not at all. If someone asks how much i lost this month, i’ll still say $1000, not $850. For me, rakeback is a separate matter, besides, including it in the calculation won’t make the loss seem any smaller. So it’s better to track both separately, the total net loss and how much i received back from rakeback and i’ll combine them in my next gambling session when i have a new budget. Or if i decide to use that rakeback and still end up losing, i’ll add the new loss to bring the total to $1150 .

I also think the same way. Even though some people may actually have a contrary opinion on this, I believe that separating one’s actual losses from a rakeback kinda gives one a much clearer picture of what your gambling results really look like. Then you can actually treat the rakeback as a separate budget, rather than mixing it up with your actual record.

[Yorubek]

its not guarantee that people who gambles can really keep their record result if one is careful looking at what he has keeping as a result of recording his wining or theirs loosing the momentum of his percentage of what he has lost is not greater than that he is expecting  sometimes  it is very important to record the date on one have actually again during gambling journey.
So me personal i wil rather keep the date on how i stack in any of game if my success went true i shall be proud of the day i won. So keeping record sometimes its very essential and so how remembering.

Keeping a record of every win or loss through gambling is entirely up to the gambler's mentality. If the gambler feels it is absolutely necessary to keep a record of all the previous wins and losses, thinking that it will be useful to him in the future, then it is entirely his own decision.

But from my point of view, if we write down or remember all the previous win and loss records, will it help us reduce or increase our money, it is never possible. I think gambling is only for entertainment, at the end of the day I don't want to remember what I lost, because I only gamble for entertainment. If the gambler is really gambling for the purpose of enjoying entertainment, then there is no need to remember or write down all the records regarding wins or losses, this is completely my own view.

[lionheart78]

At the end of the day, whatever remains in my account is what I take a count of. It doesn't matter for me whether it's from rakeback or bonuses or from my initial capital.
For me, it's very simple. Whatever I had deposited minus whatever is left is the amount I have lost while gambling.
Eventually I am gonna lose all of it, so why bother tracking rakeback and bonuses separately. I know it's more of an individual decision though.

I agree, check in balance simply the calculation of the cash flows, the record of inflow and outflow, thus with the topic, after depleting the bankroll due to losses that can be considered an outflow, any rewards, benefits or bonuses that come from that activity should be listed as inflow.  Rakeback, cashback, 100% return loss, ranking in leaderboard rewards, winnings from free spins, all of this should be recorded as inflow.

Any fund activity within our gambling account should be put on the ledger to precisely show us how much we are winning or how much we are losing.

[yahoo62278]

A quick one. For those who like the idea of tracking their gambling performances, that is their losses and wins. Do you only focus on your losses and wins alone, or do you also track your rakebacks and Bonuses?

For example, your total losses for the month is $1000 and you somehow manage to get $150 back as your rakeback, would your say your total net loss is $850 or would you prefer to set your rakeback aside?

It depends on your gambling and what records you are keeping. If I am just tracking sportsbets and what my record is for a particular sport, then I would not include rakeback as part of my win loss but I would as a part of the total money I am up or down.

[Smartprofit]

For me, the money I deposit into an online casino or cryptocurrency exchange isn't my money, but my accounts receivable. I prefer this accounting term. The casino/exchange owes me this money. 🙋

My money is the money in my cryptocurrency wallet. When I make a deposit into an online casino, I record an accounts receivable in my accounting. When I lose, I record a decrease in accounts receivable. When I win, I record an increase in accounts receivable. Rakeback and bonuses increase accounts receivable.

I record winnings (income) only after they are withdrawn to a cryptocurrency wallet under my full control. 💁

[ColdLava40]

A quick one. For those who like the idea of tracking their gambling performances, that is their losses and wins. Do you only focus on your losses and wins alone, or do you also track your rakebacks and Bonuses?

For example, your total losses for the month is $1000 and you somehow manage to get $150 back as your rakeback, would your say your total net loss is $850 or would you prefer to set your rakeback aside?

Rake back should be separated when tracking performance.

The idea behind tracking our performance in gambling is to know how much we risk, how much we win and how much we lose. Rake backs and bonus are not going to always be present every time. Say you are the type who keeps tracks monthly statistics.

If I lose $850 like you said, I will only want to count that in my records so I do not deceive or confuse myself in the future. My reason will be that It will make the records to be inconsistent.

[Z_MBFM]

A quick one. For those who like the idea of tracking their gambling performances, that is their losses and wins. Do you only focus on your losses and wins alone, or do you also track your rakebacks and Bonuses?

For example, your total losses for the month is $1000 and you somehow manage to get $150 back as your rakeback, would your say your total net loss is $850 or would you prefer to set your rakeback aside?

Rakeback is a completely different thing here I would never think of it as a loss recovery. How much I lost while gambling is the main thing in the calculation. I think of rakeback and other bonuses as completely different things. And when I get these bonuses, I gamble with them again and never withdraw these bonuses. I withdraw the money when I can win while gambling. I used to do this when I was addicted to gambling and I still do it now, I don't use a large amount of money in someone's name, now I use the amount of money that I have the ability to lose. So after losing that money, I don't think of it as any kind of bonus recovery.

[KTChampions]

Rake back should be separated when tracking performance.

The idea behind tracking our performance in gambling is to know how much we risk, how much we win and how much we lose. Rake backs and bonus are not going to always be present every time. Say you are the type who keeps tracks monthly statistics.

If I lose $850 like you said, I will only want to count that in my records so I do not deceive or confuse myself in the future. My reason will be that It will make the records to be inconsistent.

So what's the logic here? For example, you place a bet at a bookmaker and get slightly worse odds, but you still get a rebate and some other perks for wagering, etc. And you bet on the prediction market where the odds are better, but there is no rakeback or bonuses. In one case, your bonus is part of the odds, in the other case it is not, but in essence it is the same. In my opinion, both must be taken into account. In the end, we are all chasing profit, and if less favorable odds + bonus are better than more favorable odds and no bonus, then you should choose the former.

[o48o]

A quick one. For those who like the idea of tracking their gambling performances, that is their losses and wins. Do you only focus on your losses and wins alone, or do you also track your rakebacks and Bonuses?

For example, your total losses for the month is $1000 and you somehow manage to get $150 back as your rakeback, would your say your total net loss is $850 or would you prefer to set your rakeback aside?

Yes, and imho it's wise to keep track of everything as you want to be able to explain everything in your taxes and at least in here rakeback isn't considered to be "winnings" and is taxed differently. Even though someone could think it's just peanuts, those are still technically revenue and small peanuts adds up. I've never heard clear accounting hurting anyone, but lack of it can ruin finances.