How do you track gambling success? Sadly, most gamblers don’t have an answer to the question because they don’t track their gambling results. If you’re not tracking your gambling results, the odds are good that you’re losing more than you should.
One of the best things you can do as a gambler is to start tracking your results. This is fairly easy, but most gamblers don’t really want to know how they’re fairing. It’s easy to ignore losses if you’re not tracking them closely.
Here’s an easy way to track your gambling results Set aside a bankroll that you only use for gambling and gambling related expenses. Use this money for gambling and track how much time you spend gambling. This gives you everything you need to know to track your gambling results.
1 – Length of Playing Time
One form of gambling success is being able to play a set amount of time or number of hours on a specific bankroll amount. May be you want to be able to gamble at the casino for at least six hours on $300.
Length of playing time tracking is good for gamblers who want to maximize their entertainment value. Most gamblers lose to the casino in the long run, so if you can play as long as possible before running out of money you’re maximizing your entertainment value.
If you’re interested in maximizing your gambling playing time you should play games with a low house edge, find games with a small minimum bet, and play games that are slow. These strategies aren’t going to help you beat the casinos, but they can help you play longer.
Some of these games require the use of strategy and finding good rules or pay tables to keep the house edge low.
Games with a low minimum bet include:
Games that play at a slow pace or have a lower number of decisions every hour include:
Pai Gow Poker
The important thing to understand about slot machines and video poker is that you have complete control over how fast you play. Most gamblers play too fast, which makes them lose faster.
Slot machines usually have a higher house edge than other games, but if you play low using a small minimum bet you can make your bankroll last a long time. Video poker machines with good pay tables played slowly are an excellent option for gamblers who want to play as long as possible.
2 – Break Even Play
I mentioned in the previous section that most gamblers lose in the long run. The odds are good that you’re losing more than you win on a regular basis gambling. But what if you could figure out how to gamble at a break even pace? You’d be able to gamble for as long as you want.
You can find ways to gamble at around a break even pace. But you’re not going to break even every time you gamble. Sometimes you’re going to win, and sometimes you’re going to lose. But over time you can come close to breaking even.
Breaking even gambling requires some skill and the use of strategy. It also helps if you can earn comps for your play and find coupons and other promotions to use. Some of the ways you can break even gambling can be mastered to get you to a level where you’re actually making some money as a gambler.
In the right situations you can play close to break even playing blackjack and some video poker machines without using advanced strategies. Playing video poker you have to play on games with a good pay table, use a strategy card, and collect as many comps and promotions as possible.
If you’re playing blackjack, you have to find games with good rules, use a strategy card, and collect comps and use promotions and coupons. Using these methods with video poker and blackjack you’re not going to turn a long term profit, but you can come close to breaking even.
If you learn how to count cards playing blackjack you can learn how to break even, or even turn a profit. You can also make money betting on sportsif you learn how to handicap games well and find good betting lines. You can also make money playing poker games like Texas holdem if you learn how to use strategy well.
3 – Winnings per Hour
Winning gamblers can track their profits by the hour or on a long term basis. Either method is fine. And there are reasons why you might use either or both. I’m going to cover the long term tracking method in the next section, so I’m covering tracking your earnings per hour in this section.
The simple way to track your earnings per hour is to divide anything you end a playing session with over your starting bankroll by how long you played. If you start with $500 and end up your session with $600 and play for four hours, you divide your profit of $100 by four hours to get $25 an hour.
Because your actual results are going to vary from playing session to playing session, you should determine your winnings per hour over a week and month time period to see what kind of average you’re able to earn.
Most gamblers end up with a negative number when they start tracking their return per hour because they lose more than they win. In order to start tracking earnings you need to learn more about becoming an advantage gambler. Focus on the things I mentioned in the last section: blackjack card counting, poker strategy, and sports betting handicapping.
4 – Long Term Profit
Long term profit tracking can be useful for any winning gambler, but it’s most often used by tournament poker players. Poker tournament players might play several tournaments without making much money, or any money, and then place high in a tournament and have a big financial return.
I also recommend tracking all of your gambling results by the year. When you do this you can compare your results year to year. You can see if you’re results are improving or if you need to find areas where you can improve.
Just like tracking earnings per hour, if you’re not an advantage gambler you’re not going to have any long term profit to track. If this is the case, you should still track your results per hour and on a long term basis. You still want to try to improve your results, so if you know how much you lose every year, it can help you see if you’re improving.
5 – Limiting Your Losses
If you’re not willing to learn how to play at a break even pace or how to play as an advantage gambler, the best thing you can do is limit your losses. The best way to control your losses is to set a budget every time you gamble and stick with it no matter what.
If you set a budget of $150 when you go to the casino, you can gamble until you lose $150. It doesn’t matter if you play for 10 hours or lose it all in one hand; when it’s gone you stop playing.
One of the best ways to limit your losses is to start betting on sports. Find a sportsbook that accepts small minimum bets and only bet on one game at a time. You can bet $10 on a football or basketball games and watch the game for the next two or three hours.
Even if you’re simply trying to limit your losses, you still need to track how much you lose and how much you play. If you find that you’re losing your limit too fast, you can switch to a different game. Look at the games listed in the first section for the best games for extended play.
An even better plan is to look at the section about break even play, or learn how to play with an advantage. You don’t have to keep losing if you change the way you play and/or change the games you play.
Every gambler should track their wins or losses and how much they play. If you’re not tracking your results you should start doing it the next time you gamble. Make your tracking system as simple as possible by using a segregated bankroll.
Learn how to play a close to breakeven game, and then keep working on your skills to learn how to play with an advantage. The first time you see a profit instead of a loss after learning how to play with an advantage you’re going to know you’re on the right track.
Michael Stevens has been researching and writing topics involving the gambling industry for well over a decade now and is considered an expert on all things casino and sports betting. Michael has been writing for GamblingSites.org since early 2016. ...
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