Organise Yourself to Protect Your Gambling Profits – Even If You Aren’t an Accountant

I want to start by telling you a quick story that highlights why organisation is so useful. About one year ago I was taking advantage of a lot of sports betting free offers in quick succession. I went through probably six in under two weeks. It was great, the money was pouring in £25 here £50 there.

I was pretty new to online gambling in those days and didn’t really care about keeping records of what I was doing. I just went from one offer to another and looked in on my bank account every so often to make sure it was steadily increasing. Organisation and record keeping are for accountants – well that’s what I thought then.

A few months later I happened to log into a bookie account that I had forgotten that I had signed up to. It turned out that I had deposited £50 there and just forgot about it. Although £50 doesn’t sound like much money if I had done this several times it could have built to a substantial amount.

I went and checked back through my emails and tried different sites that I may have already joined up to. I found another £75 in winnings that I had forgotten to withdraw from 4 months previously. There may have been more out there I really don’t know.

But that was enough money almost lost to make me reconsider my attitude towards keeping records. Now I keep track of the date I join a site, the name of the site, the amount deposited, the odds staked and laid (if I am matched betting), the net profit and the details of any cashback I have received.

One benefit of this is that I had never considered before is that occasionally the bookie can make a mistake in your payout. I had never even checked before I started keeping records of my transactions. It also guarantees that you will never forget a deposit that you have made and any cashback owed to you can be chased up if it is not awarded.

It is so simple to create a spreadsheet in excel or whatever package you use. Keeping it up to date is easy too – just get into the habit of recording the information as soon as you have made a bet or joined a new site. It soon becomes a habit that you will be glad you adopted.

So no excuses, good record keeping isn’t just for accountants. Start being more organised and do your bank account a favour.