How to Manage Gambling Bankroll and Keep Records
If you're serious about your gambling, you need to do two things: Watch your wins and losses, and watch your bankroll. It is this watchfulness that distinguishes the pro from the amateur gambler.
Keeping an eye on your plays and bankroll involves:
- Keeping records of your gambling trips - Saving winnings and quitting at the right time
HOW TO KEEP GAMBLING RECORDS
Now this is what your casino book of records should be like:
- TARGET WINNINGS. The notebook must have a list of your target winnings and whether or not you have met them. Note which gambling games are the most profitable for you too.
- SUMMARY PAGES. There must be a summary page for each game you play. On top of each summary page, indicate the type of gambling game played (baccarat, roulette, etc.), the game and betting strategies used, and the bankroll for that game in the casino trip. Below that, list each game session played, the date and time it was played, the wins and losses (in currency), and the net win/loss for each play session.
- MASTER SUMMARY PAGES. A master summary page must be made, totaling the wins and losses of each gambling game you played for a given casino trip. It must also show your total earnings or losses.
- TRAVEL EXPENSES. Keep records of your travel expenses. It may be that you will be comped, but still it is good practice to keep track of these things as well.
When you embark on a gambling trip, keep accurate records of your play as you go along. Upon returning home, you must update your casino diary as soon as possible. Make record-keeping a habit. Stick to it at all costs.
GAMBLING BANKROLL AND WINNINGS
Aside from keeping records, make a habit of setting aside your gambling winnings early. The gambler must know what to do with their profits once they get them. If you have a budget of $1,000 for one casino trip, and you win $200 in one day, set aside that amount and a portion of the bankroll, say $250. If you win another $200, set that and another $250 aside. If you have won a lot, you can set aside the whole original bankroll and play only with some of your profits. But above all, you must quit once your target earnings have been reached. This is a rule that you must adhere to at all times.
By taking these measures, the gambler avoids getting carried away with their casino play. They will focus instead of improving their gambling strategy, and on counting and protecting their winnings.
