Weekly/monthly financial statements, which do you prefer? - page 6.

palle11

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Quote from: Rruchi man on July 25, 2021, 02:28:38 PM

As a way to keep track, would you like to receive regular, maybe weekly or monthly financial statements highlighting wins and losses from a gambling site?

Can you share your thoughts please?

Usually if you are not drunk, someone should be able to keep records or be able to calculate your spending Grin

But for the sake of your question, a weekly update is better. This will help to plan on the next week incase you want to increase or reduce your spending. This IMO will be better than monthly update that looks like a longer time. A shorter notice helps to correct a wrong faster than longer time.

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Quote from: hahay on July 31, 2021, 07:45:31 AM

Financial reports are basically something important, because with these reports at least we will be more aware and always be a correction to be more efficient or be more careful in spending money in gambling. Indeed, so far I don't care about the expense report, but sometimes I think about this and try to remember it until finally I feel a sense to improve myself not to be too extravagant in spending money and not just gambling. Regarding when is the best time to get financial reports, I think anytime would be a good time, be it a week or a month or even every day and it all comes back to your own calculations and awareness.

This looks like a business if you do a financial report,

.. I'm sure professional gamblers do that but most gamblers do not really keep track of their record that way as most of the time, it's only expenses and they'll never be in profit overall.

hahay

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Financial reports are basically something important, because with these reports at least we will be more aware and always be a correction to be more efficient or be more careful in spending money in gambling. Indeed, so far I don't care about the expense report, but sometimes I think about this and try to remember it until finally I feel a sense to improve myself not to be too extravagant in spending money and not just gambling. Regarding when is the best time to get financial reports, I think anytime would be a good time, be it a week or a month or even every day and it all comes back to your own calculations and awareness.

AicecreaME

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Quote from: Rruchi man on July 25, 2021, 02:28:38 PM

When you spend money constantly in bits, it is normal that you may not be able to keep track of the amount you have spent on something say gambling or alcohol. If a financial record or something like a register is shown to you having the total amount you've spent on a habit, you may be surprised the total amount you see.

As a way to keep track, would you like to receive regular, maybe weekly or monthly financial statements highlighting wins and losses from a gambling site?

Can you share your thoughts please?

Since most of the people are lazy enough to list down their expenses, I think it is good for a gambling site to offer this kind of feature, for the players to have an idea on how much they spent (loss) weekly, so the next question for themselves would be "Should I continue or not?" that's the wake up question I think.

Because what always happen is that gamblers ignoring the fact that they are losing too much money on betting just to chase their losses which even more get worse because of what they're doing.

Mauser

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I noticed that many casinos are using weekly statements which can be a bit misleading for me. I prefer the monthly ones because it takes more data into consideration. If we have a bad week and lose some money than we will only see it in that week. In the next week everything starts from 0 again even though we are still in the red. I usually do my own book keeping to track my gambling budget but it can be misleading sometime.

madnessteat

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Quote from: fiulpro on July 31, 2021, 01:15:26 AM

I do think that it's always a plus point when instead of depending on the weekly and monthly financial statements, you can just check ✅ your bets, wins, losses since at the end of the day, it won't just be beneficial overall but also can give you a sense of responsibility and more personal insight.
For me I do not Gamble and then check how much did I use, but rather, I calculate the amount of money I can afford to loose. Every month is different and we cannot predict anything for certainty.
-Most of the Gamblers on forum are really responsible and serious, the drunk gambling is entirely different, I think if you are playing online you can always put a pin in it and be calculative and meticulous.

That's right. As has been said many times before, you need to be able to separate the entertainment. If you want to play then you don't need to drink alcohol and drink just a little to lift your spirits. In my opinion it's better to play sober and already after the game to get drunk if you really want to.

fiulpro

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I do think that it's always a plus point when instead of depending on the weekly and monthly financial statements, you can just check ✅ your bets, wins, losses since at the end of the day, it won't just be beneficial overall but also can give you a sense of responsibility and more personal insight.
For me I do not Gamble and then check how much did I use, but rather, I calculate the amount of money I can afford to loose. Every month is different and we cannot predict anything for certainty.
-Most of the Gamblers on forum are really responsible and serious, the drunk gambling is entirely different, I think if you are playing online you can always put a pin in it and be calculative and meticulous.

BuNga_cute

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Quote from: traderethereum on July 30, 2021, 10:02:08 PM

Quote from: madnessteat on July 30, 2021, 06:08:58 AM

Quote from: traderethereum on July 30, 2021, 02:50:26 AM

^

How can a responsible gambler not remember how much money he spent on gambling or alcohol? A responsible person doesn't get drunk to the point where he can't remember what happened yesterday. A person who consumes alcohol in such quantities will not be helped by any financial reports. Grin

I am not sure that if those gamblers drink alcohol until drunk, remembers how much money he already spent Grin

If he is really responsible, he will not let himself drink alcohol until he is drunk.
He will not remember what is happened before, but he can probably remember vaguely about that when he wakes up.
A responsible gambler can always control himself not doing something that can make him in trouble.

There is no prohibition against gambling while drinking alcohol, but don't overdo it and cause drunkenness. Not only can we not remember how
much money we spent, but in a drunken state can make us experience defeat in gambling. So it's better to control ourselves when drinking alcohol,
because to be able to make financial reports must be in a conscious state. Therefore, gamblers who can make financial reports gamble well, usually
do not get drunk when gambling.

traderethereum

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Quote from: madnessteat on July 30, 2021, 06:08:58 AM

Quote from: traderethereum on July 30, 2021, 02:50:26 AM

^

How can a responsible gambler not remember how much money he spent on gambling or alcohol? A responsible person doesn't get drunk to the point where he can't remember what happened yesterday. A person who consumes alcohol in such quantities will not be helped by any financial reports. Grin

I am not sure that if those gamblers drink alcohol until drunk, remembers how much money he already spent Grin

If he is really responsible, he will not let himself drink alcohol until he is drunk.
He will not remember what is happened before, but he can probably remember vaguely about that when he wakes up.
A responsible gambler can always control himself not doing something that can make him in trouble.

uneng

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Well, for me it wouldn't make much difference, because I can check it anytime at the personal history of the account. It doesn't take too much time or effot to check some lines and add all the values to reach to the final value. Anyway, it's not something I would worry very much because all the money used for gambling purposes is considered already lost. It's not like an investment which I need to follow closely to check if I'm in profit or loss, so I end it and put the money in another place if necessary. If the person gets too much obsessive regards gambling money spendings I think it's better to not gamble at all.

Mahanton

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Quote from: just_Alice on July 30, 2021, 03:07:16 PM

Yeah, you have a point. I think a weekly report would be a nice feature. Sometimes I don’t remember the exact amount I had on balance and after I gamble I feel so happy about the winnings that I forget about the losses. Then I end up looking through the history and counting wins and losses. An automatic report would be so much easier.

It would be a good option if a casino would really be having this feature but i dont see for it to be necessary for everyone because most gamblers doesnt really look after on their bets history
because majority will really not like to see lots of losses that they had able to make out but instead they do matter on their current winnings and wont mind on the losses or that they are
in negatives and some doesnt really care about this stuff since they are already expecting for them to lose in long term.

just_Alice

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Yeah, you have a point. I think a weekly report would be a nice feature. Sometimes I don’t remember the exact amount I had on balance and after I gamble I feel so happy about the winnings that I forget about the losses. Then I end up looking through the history and counting wins and losses. An automatic report would be so much easier.

gabbie2010

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I keep my records of spending on weekly basis I ensured that I don't spend above my weekly budget such as money spent on feeding, gambling, buying of food stuffs, internet subscription and payment for gas etc which I stick to.
At the end of each month I make a compilation of all my weekly budget to ascertain the total monthly expenditures this enable me to spend within the limit of my monthly income, I believe its a good idea to keep this records to prevent us from unnecessary expenses especially gamblers to limit the amount of money to be used on bettings.

goaldigger

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Quote from: goinmerry on July 30, 2021, 01:31:45 PM

Quote from: Cling18 on July 30, 2021, 08:33:51 AM

I prefer a monthly financial statement so it would contain the complete information of my expenses so I would also know how to properly budget my monthly funds. I usually have proper allocations so I wouldn't spend too much and I'll know how to handle and control my expenses.

I just don't get and understand it.

Why it will take up to a month before you will know how to properly manage your budget? You can do that beforehand by taking a note of your funds used on gambling. That is something you can do within just a few days just by analyzing your spendings.

A financial statement in gambling isn't a thing you need to control your general expenses.

Some gambler didn’t mind monitoring their transactions because they are too depended on their financial statement which can generate every month, we cannot blame from doing that and maybe that’s effective for them. I personally have my own budget list, but I didn’t compute all my transactions in gambling, monitoring my capital and expenses is already enough for me.

Slow death

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Quote from: madnessteat on July 30, 2021, 06:08:58 AM

Quote from: traderethereum on July 30, 2021, 02:50:26 AM

^

How can a responsible gambler not remember how much money he spent on gambling or alcohol? A responsible person doesn't get drunk to the point where he can't remember what happened yesterday. A person who consumes alcohol in such quantities will not be helped by any financial reports. Grin

I'm convinced that 90% of people who consume alcohol when they are with friends drinking alcohol they don't remember how much money they are spending, this has been something I've been watching for years because I don't drink alcohol, but I see people in my country who consumes alcohol how they act

Quote from: madnessteat on July 29, 2021, 11:39:51 PM

A person who counts his income and expenses always knows how much money and what he spent. In my opinion, receiving financial reports from the gambling site will not affect the activity of a gambler. But improving their financial literacy may well help to reduce spending, not only on gambling but also on other entertainment.

when the person is losing money, the person will start to feel sad every time the site reminds them how much money they are losing.

goinmerry

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Quote from: Cling18 on July 30, 2021, 08:33:51 AM

I prefer a monthly financial statement so it would contain the complete information of my expenses so I would also know how to properly budget my monthly funds. I usually have proper allocations so I wouldn't spend too much and I'll know how to handle and control my expenses.

I just don't get and understand it.

Why it will take up to a month before you will know how to properly manage your budget? You can do that beforehand by taking a note of your funds used on gambling. That is something you can do within just a few days just by analyzing your spendings.

A financial statement in gambling isn't a thing you need to control your general expenses.

dothebeats

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I would still prefer monthly statements for whatever it is that require my attention on my finances, be it on banks or on gambling platforms. I usually keep my finances in check and really verify everything up to the last cent, and I want them organized as much as I can in order for me to not overlook any amount dues or whatnot. For my gambling history, I just check my deposit history and add them up to see how much I spent for a month. I don't really care so much about profits since I gamble to have fun and not to make some money off of it.

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Quote from: carlfebz2 on July 29, 2021, 06:39:40 PM

Quote from: harizen on July 26, 2021, 03:17:22 PM

I don't like it as it wasn't necessary to see how's my gambling finances go through all the time. However, when the time comes that I like to see it, just out of curiosity, requesting it to the site shouldn't be a problem as they have records of it.

Does history wont really be enough for that matter? You would do manual calculations though but it would be good if they would be giving out those overall or total you had used or spent on your gambling activity on a specific site.

Its not actually necessary to have this but if you are a gambler who do really mind about on how much you had spent overall then it should really be on monthly basis and also if you are that mindful about your finances about totals or something like that then you shouldnt have gambled in the first place.

If you will read my statement, I never said that stats history is enough. If for you it does matter, then don't expect that I will have the same approach. I will stand that it wasn't necessary for me.

And kindly noted my last statement, "However, when the time comes that I like to see it, just out of curiosity, requesting it to the site shouldn't be a problem as they have records of it."

Hope that is clear.

Cling18

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I prefer a monthly financial statement so it would contain the complete information of my expenses so I would also know how to properly budget my monthly funds. I usually have proper allocations so I wouldn't spend too much and I'll know how to handle and control my expenses. Weekly or monthly financial statements wouldn't be a problem as long as we're handling our funds responsibly.

DoublerHunter

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Quote from: Renampun on July 30, 2021, 08:05:34 AM

Quote from: Rruchi man on July 25, 2021, 02:28:38 PM

...

for me getting monthly financial statements is much more organized...

with it I can also monitor other expenses in detail. I don't gamble very often so the monthly financial statements are enough for me not to pollute my records.

^ If you know that you only spend on gamble 3-5% of your monthly salary is only allocated for gambling or other entertainment, there is no need for you to track monthly financial statements. Because you already know how much you have to spend especially if you are responsible for it on how to stop if you are beyond the limit. It is overall self-discipline to avoid possible addiction in gambling and in the first place, we know how to financially manage our salary in order to have savings and must be enough for a monthly budget. Don't spend 40-50% of your monthly salary on any entertainment activity to avoid shortage when it comes to financial status.

Topic: Weekly/monthly financial statements, which do you prefer? - page 6. (Read 1554 times)