Keeping Gambling Records

Why You Should Keep Gambling Records

4 Reasons why you should keep notes of your gaming

Casino gaming is mostly viewed as an entertaining hobby, and so it’s only natural that the majority of players tend to participate in a very casual way. They play games as and when they fancy, for as long as they feel they want to, and that’s about all. The problem with that approach is that it makes it difficult for players to know exactly how much their hobby is costing them in terms of both time and money. In addition, it doesn’t allow players to identify their strongest and weakest areas as far as winning is concerned.

The solution to this potential problem is to start keeping gambling records. No, we haven’t suddenly gone all Accountant on you, but we think that keeping records of your gambling activities will bring you a number of benefits that are too good to ignore. We’ll take you through those in a few minutes, but first, we should explain what we mean by gambling records and how to keep them.

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Gambling Records and How to Keep Them

Gambling records are simply notes that summarise your gambling activity. All you have to do to start keeping them is obtain a notebook for the purpose (or use a spreadsheet, if you prefer) and begin recording the following every time you participate in any kind of gambling activity:

  • The date
  • What time you began the gambling session
  • What time you ended the gambling session
  • The duration of the gambling session
  • Which venue you played at
  • What type of game(s) you played
  • What stakes you played with
  • What types of bets you placed (if applicable)
  • Whether you made a profit or a loss
  • The size of that profit or loss, in dollars and cents

Be as diligent as you can when keeping these records. If you forget to record a session, you can probably go back and figure out the profit or loss element by taking a look at the account balance of the venue you visited. You may also be able to rely on your memory (or take an educated guess) to fill in other items, but it is better not to forget to keep records in the first place.

Make it a habit to open your notebook (or spreadsheet) and note the date and time before you actually start playing. That will help to remind you to note down the rest of the information at the end of the session.

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The Benefits of Keeping Gambling Records

Having outlined how to keep gambling records, we can now explain why you might want to do so. There are, in fact, several benefits of this practice, and whilst some will appeal to you more than others, all of them are valuable.

Benefit #1 - Records Identify Strengths & Weaknesses

The first benefit of keeping gambling records is that it can help you to identify your strengths and weaknesses. For example, your records might show that you actually made a profit last month when playing Blackjack, and that you almost broke even playing even money shots at Roulette, but that you lost much more when betting on single numbers and playing slots. While online casino games are more about entertainment than profit, being aware of how you fare in particular games can help you to see where your gambling dollars tend to go.

Your records can also reveal when you tend to suffer the most losing sessions. For example, you might see that you consistently lose much more on Saturday nights than at any other time. You might then realize that you tend to have a few beers on Saturday nights and conclude that alcohol helps you to lose more. This could encourage you to skip either drinking or gambling on Saturday nights, as you prefer, in order to help your cash go further.

Benefit #2 - Records Help Bankroll Management

Keeping strict records of how much you bet is vital for successful bank roll management. When you know exactly how much money you are spending on gambling, you can decide whether or not you need to manage your money more effectively.

A tendency that all gamblers have is to conveniently forget or downplay losses and to remember only those sessions that gave you a decent profit. Having all of your wins and losses written down makes such self-deception far more difficult, and that can make you far better at managing your bankroll and staying within your budget.

Benefit #3 - Records Can Strengthen Your Control

Following on from the previous benefit, having strict written records of your gambling can help you see exactly how much control you have over your gambling habits. We all hear plenty about ‘responsible gambling,’ but we tend to assume that it’s always other people who have problems. Accurate records can help us to see whether that is really the case. If it isn’t, we can then take steps to strengthen our control by cutting back or even by taking a break and focusing on a different hobby for a while.

Benefit #4 Records Identify Your Best Casinos

Some players fare better when playing at certain casinos. This could be for any number of reasons, such as the atmosphere of the casino itself or the type of games and promotions that it offers. You can consult your records and figure out how much you have won or lost at each casino that you visit, and then start focusing on playing at those where you tend to lose the least amount.

Whilst on this topic, you could also use your records to help you keep track of which casinos you have signed up with. All casinos offer welcome packages that can give you plenty of risk-free gaming action, so you could focus on signing up with a number of new venues and taking advantage of whatever they have to offer. After all, if there is plenty of bonus cash up for grabs, why not grab it while you can?

In a Nutshell

Keeping gambling records doesn’t take very long, but it can be extremely useful. If you aren’t already doing this then consider the benefits that we have outlined - and any more that occur to you - and start keeping records today.

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