Topic: Not keeping records makes me a bad gambler? - page 15. (Read 1954 times)

Not keeping records of your gamble results does not make you a bad gambler. I think it is good to keep record of gambling activities including your wins and  losses because that would guide you on budgetary to know if you  are okay with  your gambling outcome or not or your budgeting plans if the needs be to cut it short or increase it. This would also help you to know how often you frequent gambling  site or house to gamble and from this, you could tell if you are getting addicted to gambling  and possible put in place measures to curtail your frequent visit to casinos or otherwise.

Notably, this could guide a gambler to know exact games, days and time at which he or she makes wins and losses. It would give the gambler clues on what to do and as well the gaming style,pattern or strategy used to win and the ones used which cost them their games to avoid or build a good strategy for the game again while keeping records of the formulae used. I think it is good  to keep records of your gambling activities to put you on the safe side.

Aside from getting records for your tax purposes, I don’t see any point on doing this kind of thing on gambling since gambling should be for entertainment not a form of profit making that needs to be recorded every game. I remember you can always request this kind of records to the support to have records for specific time frame.

Playing alone will makes me busy while recording profit/loss for the game will surely out of my mind once I’m done gambling. It’s not mandatory to do a record unless this is required for your tax purposes.

In my case I keep a record in my notebook and in my head. This helps me to understand that I always need to maintain the same strategy so that I don't exceed the limits of the amount I deposit to play, the amount I place on each bet and how much money I am losing, winning and withdrawing. because even if I play for fun, there have to be limits on the amount of money I can put into playing. for example, if in a week I deposit 10$, I already have in my head that I will make 2 bets of 5$ each or 5 bets of 1$ or I can distribute the amount in another way, but in case of losing the 10$ I already know that the following week I must deposit $10 again, but in case of victory I also know that the following week I will not deposit anything, in other words I gained 1 more week to play

Now when I see a scenario where one week I put in $10, I lost, in another week I lost $10, I lost in another week, I lost $10, so I'm at a loss of $30, so I need to change my game strategy because the current one isn't working. I know they are going to say that gambling is not about making a profit, obviously they are right and I think so too, but it would also be ridiculous to just be playing to lose and putting money into the casino all the time, and not having control over the money I am to lose. Because if I didn't write down and create rules, I would have a situation where one day I put in $40, I lose everything, another day I put in $100 and I lose everything, another day I put in $1000 and I lose everything. As the person doesn't write anything down, they will hardly be aware that in 3 weeks they have already lost $1140, it was money that could have bought things in the real world or done other things in the real world

Keeping gambling records is actually not forced, it's up to you whether you want to record your gambling activities or not, but recording your wins and losses can be a useful practice and maybe it will help you in the future. In fact, recording your gambling activities can provide benefits such as you can see how many wins and losses you experience, whether in 1 month or 1 week - you can get a clear picture of whether your gambling activity is mostly wins or losses and that can be a conclusion for your gambling performance.
And what's more, it can help you to record expenses in your gambling activities, whether it is profitable or not, everything will be available to you and it will help you in managing your finances.

Agree.
It's not like a business where the gambler has to have a balance sheet and there is no one subtracting the taxes from the withdrawals. To me, it is not necessary to have those records.

I have no reason to look at my losses as it just makes me regret what I'm doing so no records. But If I wanna do it, I would just look into the history of my account from deposit history down to betting history which I think will reveal how much I have lost.

This depends on the goal. If it is to maintain cash flow when gambling and make it easier to control yourself with the records created, then this would be a good thing to implement. On the other hand, if this only makes someone more frustrated because they see losses that are too big and become uncontrollable, then it is best not to keep any records.

I agree with @acroman08, because keeping records or not that makes us bad as gamblers, but our wrong management that will make us bad. Because it is not recording losses and wins that will make us gamblers who are too eager to win. However, uncontrolled inner desires that increase addiction and greed make things worse.

I have never kept a record of my gambling expenses and I never will. Not having this habit doesn't make a person a bad or addicted gambler. Of course, keeping track of gambling expenses by recording them will help calculate expenses more easily but this doesn't apply to individuals who gamble at certain time intervals.

Especially if such a thing were to be done, recording the current winnings and losses for each game would be a complete torture because creating an income-expense statement after each game is a difficult process and takes a long time. If a person wants to keep track of the amount he/she spent and won in gambling, the most logical option would be to keep records of the money spent and the money earned and transferred to his/her wallet. To get a more detailed record, the gain and loss amounts can be noted on a daily basis or only the daily balance change can be followed by tracking the daily balance.

In addition, although it is not a perfect calculation method, it is possible to track gains, losses and balance by following the statistics provided by the casino.

 No, This is gambling not investing which you are just using money that you are willing to lose in exchange for the entertainment. Tracking your losses will just make you chase loss since you will always consider your previous losses on your current game that will make you very eager to hit that profit goal.

A bad gambler are those who keep tracking their records and bet accordingly based on their records status. Your current gambling game shouldn’t be affected by your previously losses while doing track records will just push you to keep thinking over your losses while playing. This is a good practice on investment but not on gambling.

I don't see the need to keep records because I consider gambling purely for entertainment and don't view it as a serious financial endeavor. However, I think keeping records of gambling activities can be a useful practice for several reasons, but it doesn't necessarily make you a bad gambler if you choose not to do so. It's only for awareness and tracking. If you are serious about gambling responsibly, this can be a helpful tool to gain better control over your habits and finances. For me, it's all about personal choice and a matter of opinion.

Makes it feel like a serious occupation of book keeping. Removes the fun from the activity.
Good practice to them, but it is not always neccessary if you know that you gamble with a fixed sum, and you are disciplined about it.
The benefit which is the only one I can think of is that it will help you know the amount you have spent gambling and what you have lost. It helps you keep track of your gambling so you can know when you are spending too much or loosing too much that will soon begin affecting your lifestyle.

the upside I see when they do this, is that they know how much they have lost, how much they have won, how much they are spending every time they gamble, etc... some people might see this as unnecessary but there are people who want to document their gambling habits.

why would it make you a bad gambler? keeping a record doesn't determine if a person is a bad or a good gambler. if you ask me, what makes a person a bad gambler is if they are unable to control themselves, gamblers who can't control themselves often become gambling addicts.

I wouldn't say that it will make you a bad gambler if you don't keep records. And I doubt that there will be ever a gambling keeping tabs of the money they are losing, doesn't make sense specially for a gambler that has been here for many years. They will just treat is as something like money in, money out.

And just don't feel bad as well, just play the usual and enjoy and entertain yourself. Because if you did record everything, there will be at some point that you will not feel love gambling anymore. Specially if you see the money that you have lost overtime.

I can see the benefits but it doesn't necessarily make you a bad gambler. It's a good practice but what's more important is if you have a standard weekly or monthly bankroll and follow it. I mean you don't need a long list to monitor your bets when you stick to your limits regardless of the results.

I don't do it, because in my opinion there is an easier way to find out how much money we have spent and whether it gives a profit or not by checking the deposit and withdrawal sections and doing the calculations. If the deposit is bigger, of course, we won't make a profit and vice versa. because recording it is not that important, in my opinion, even in trading, it is rare for traders to take that action to record it, especially in gambling, and I am sure that out of 1000 gamblers, maybe less than 10% record every win, the rest prefer to forget and stick to a weekly budget or monthly if it exceeds then stop playing until a week or month has passed then make a deposit again to plays.

I dont keep records, dont want to feel bad Joking I see no point of reading records of my gambling history, as my vision of gambling is getting fun. I had or did not have fun - that is the only measurement I accept. Practically all the casinos have detailed stats about which slot or game gambler played, his win/lose ration, crypto of fiat he has used. But barely anyone run analysis on that. It is either you balance is zero or above it by the end of your session that matters.

I don't keep record of my gambling activities because it is a waste of time and that wouldn't prevent me from securing normal losses from the bets. It all boils down to having self-control on your gambling activities by using only the amount that you can afford to lose and don't chase your losses.

If I want to know how much I do use for gambling annually, it is easy to know because, I have a weekly gambling budget and is a specific amount, so I will just calculate it. This is how I plan my gambling budget at the end of every year, towards the beginning of a new year. I make sure that I do this often so that I can know if the amount I will be setting aside for my weekly gamble is high, and I will cut it down.

Same as the post above mine stated, I don’t keep record either and neither have I encountered anyone that does so i don’t really know what’s like keeping records.

Most of the times what I do is to go back to my previous game history for a specific time period and check how much I lost and how much I won, but for me to be keeping it documented seems like something that will take a little of my time. And for something that’s meant to be for fun I don’t really see any point of keeping record of it unless you’re becoming an impulsive gambler that no longer has control over how he/she goes about his funds when it comes to gambling.

Gambling is not a serious part of my financial activity so there is no need to keep records. I keep financial records of things that take a substantial chunk of my income and not gambling. Another reason why I don't care about keeping records is that it can also be complicated. I have a gambling budget but sometimes I can gamble below the budget and sometimes slightly above the budget. In most cases, I can't track my losses and wins because I might immediately use my wins to solve some needs and will also use another part to gamble again. Also in some cases, I receive cash from gambling firms for my wins and also use fiat to also gamble.

In fact, my gambling activities are just complicated. The only way I can track my gambling life is if I move around with a gambling record book which will aid me in recording my activities, but this will be impossible. Another pattern will be to keep all of my fiat gambling slips safe and do my calculations periodically. But for me, it is unnecessary since I gamble responsibly and hide my gambling activities from some people. Keeping these records can expose my secret to the wrong people. An irresponsible gambler is one who is suffering from a gambling disorder and not people who don't keep records. I you keep records but don't control your gambling life, you are a bad gambler.

However, keeping records can be a good way of controlling your gambling activities especially if you don't have a gambling budget. It could also be a vital means of evaluating your gambling life and making amendments where it is necessary.

No of course not, just because you don't record how you spend your money doesn't make you a bad gambler. As long as you are enjoying yourself and gamble within your means I don't see any problem with not recording all your gambling wins and losses.  There are some benefits for keeping records, you always know how much money you spend this month or this year on gambling. For me personally it's quite important to keep at least small records, because I have fixed limits on how much money I spend on gambling each month. Without using records it would become hard to stay on top of my gambling budget and I would be more likely to spend more than I wanted to. It all comes down to how much money you are willing to spend and if you can remain in control of your gambling habit without keeping records. It's a preference thing, like some people keep records for all their monthly purchases and others just spend the money they have more freely.

I do not keep a physical record like an excel sheet to track my wins or losses. All of my records are mental records. I do have a budget for gambling that is the one I use to track how much I spend on gambling per month.

This is the same with me. It doesn't really matter to me as far as I am not doing anything stupid like make my friends influence my gambling habits.

If you can keep it in your head and in your book fine. I think that the benefit here is for those who pay gambling taxes. And also for those who like to be meticulous.

No. What makes you a bad gambler is irresponsible gambling.