Record Keeping

Keeping good records is an important part of any good money management program. How well you’re doing at a specific casino or game will become clearer to you if you keep accurate records. You should keep a log to record detailed information about all your casino visits; where you played, how long you played and how much you won or lost. Adding comments about particular casino rules, dealers’ attitude, and heat from the pit, can also very important. By reviewing and analyzing the data over time this important information about your playing ability at any location will greatly aid in planning future gambling endeavors. In addition to helping you see your progress at gambling, you can use your log to help you with taxes. In the US, the IRS will want to see lots of documentation if you decide to list gambling losses as a deduction. Thus, a log can be very important item in helping to substantiate figures that might be reviewed during a tax audit. Start using a log on your next casino visit.