I've been wagering on sports, among other things, for the better part of a decade and a half. For the last 2-3 years I've started to keep detailed records of my action and wins/losses.
Questions: Is it a good idea for the recreational gambler to maintain a separate "bankroll"? Is it worth it to set up a special account just for wagers if I already keep an excel spreadsheet with the action?
Perspective: Gambling is a hobby and entertainment for me. My gambling winnings/losses do not impact my lifestyle at all. When I win I do not go out and buy "something special" and when I lose, I do not have to "build my bankroll" to place my next set of wagers. I withdraw my funds when I feel uncomfortable leaving that amount in some place other than a bank and I deposit if an active account gets low and restricts my ability to take advantage of a good situation.
Currently, my gambling funding is mixed in with the accounts I use for investments (not intentionally but just coincidenitally)
My sense is that I had mixed results when I was younger but most likely an overall loser. For the last 5-7 years I sense that I've come out on top or slightly negative and I have certainly won over my last 2-3 years.
I've always enjoyed statistics, odds, and the challenge of beating the "book" or in the case of poker, fantasy games, and pools, other players.
Thanks for reading and replying.
Questions: Is it a good idea for the recreational gambler to maintain a separate "bankroll"? Is it worth it to set up a special account just for wagers if I already keep an excel spreadsheet with the action?
Perspective: Gambling is a hobby and entertainment for me. My gambling winnings/losses do not impact my lifestyle at all. When I win I do not go out and buy "something special" and when I lose, I do not have to "build my bankroll" to place my next set of wagers. I withdraw my funds when I feel uncomfortable leaving that amount in some place other than a bank and I deposit if an active account gets low and restricts my ability to take advantage of a good situation.
Currently, my gambling funding is mixed in with the accounts I use for investments (not intentionally but just coincidenitally)
My sense is that I had mixed results when I was younger but most likely an overall loser. For the last 5-7 years I sense that I've come out on top or slightly negative and I have certainly won over my last 2-3 years.
I've always enjoyed statistics, odds, and the challenge of beating the "book" or in the case of poker, fantasy games, and pools, other players.
Thanks for reading and replying.