Wagering Records

[JWBurnie]

Would anyone be willing to share how they've set-up their wagering records? As well, what information they maintain.

What information have you all found to be the most valuable over the years in keeping your own records?




Kind of new, but recognize the importance of keeping records and want to start out right.

Thanks for the help.

[rrbauer]

I keep records for two reasons.

To satisfy the government (read: IRS).

To monitor my play so that I'm not kidding myself about how I'm doing and about where my strengths/weaknesses are.

I write down every bet that I make. Periodically I sit down with a stack of betting records and enter them into the computer and run reports of my betting activity, usually on a year-to-date basis. It may sound like a lot of work, but once you become accustomed to doing it, there's nothing to it.

[point given]

If you use Brisbet, all your wagers are entered and kept on file. You can query the database for any length of time (just input the desired dates) and which tracks and what type of bets etc. It spits out your ROI, number of bets made, amount wagered, won, profit/loss. Of course there is no rebate, but there are free pp's when you bet that track you download. You can try it out for 30 or 60 days free, I believe. Good luck !

[ELA]

I keep records for two reasons.

To satisfy the government (read: IRS).



Now there is am important reason! LOL. Seriously, I have had many clients undego audits of all types. Not a pleasant experience.

Eric

[dav4463]

I keep my records the old fashioned way. I have a notebook for Maiden Sprints, Maiden Routes, Dirt sprints, Dirt Routes, Turf sprints, and Turf routes.

I log a result of each race that I handicap. I keep the records of my top 5 choices in each race, and make comments in the margin if needed to remind me of an angle or something out of the ordinary that I want to remember. On each horse #1 through #5, I write the odds and win/place/show prices if they hit the board.

Every 50 races, I add them up and total them and start a new set.

Example:

#3 rank horse.......3.90......... x.......x.......x (suspicious class move)

means my third choice at odds of 3.90 to 1 finished out of the money...(comments followed)

[rrbauer]

David Stewart wrote:
"I log a result of each race that I handicap. I keep the records of my top 5 choices in each race, and make comments in the margin if needed to remind me of an angle or something out of the ordinary that I want to remember. On each horse #1 through #5, I write the odds and win/place/show prices if they hit the board."

Comment:
Outstanding! I monitor my handicapping in a less formal matter, reviewing each day's contender rankings against the 1-2-3-4 race finish. If I were starting over, I would figure out a way to get it automated. (But, I ain't starting over!) I think that the breakout by race type/distance/surface is good stuff, too. You soon learn what you're good at!

[trigger]

[QUOTE=rrbauer]I keep records for two reasons.

To satisfy the government (read: IRS).

To monitor my play so that I'm not kidding myself about how I'm doing and about where my strengths/weaknesses are.

/QUOTE]

Shouldn't that first sentence read: I keep two sets of records for two reasons.

[Vegas711]

I use a simple spreadsheet.


DATE TRACK ODDS BETS W/P/O $ WON/ LOSS PAYOFFS

--------------------------------------------------------------------

7-15 FP 3-1 10W W 30 8.00 5.40


In this case I bet $10 to win my horse was 3 to 1 he won if he came in 2nd I would have put in a P if he came in worse than that I put in a O ( OUT) . I win 30 profit the horse paid $8 to win, $5.40 to place.


At the bottom I have the # wins # places $ won or lost


It takes 2 seconds to enter the data, from it I know how often I lose 2 races in a row how often I atleast get the place horse etc etc...This allows me to formulate bet structures that kick the crap out of flat betting.

[Vegas711]

The example did not align like it looked when I was printing it.

[karlskorner]

I use a "daily" sheet broken down as follows: Each race is listed (1-13) Distance/type of race, conditions of race, amount wagered, amount won. On the bottom, I have spaces for amount wagered, amount won, profit or loss for the day followed by amount won/loss for week, month, quarterly, semi-annual and annual. Satisfys the IRS.

[Valuist]

I use Excel and keep a daily total for amount invested, amount returned, and rebates.

I keep records by bet type also but only update that monthly.

[rrbauer]

trigger wrote:
"Shouldn't that first sentence read: I keep two sets of records for two reasons. "

Comment:
I see your point but I don't know anyone who is playing the ponies from prison!
:)

[kitts]

My handicapping software, All-In-One V6 has a wager tracker built right into it and can track bets, contenders and ROI and a bunch of other stuff. If one is using download data, the results are automaically entered in the bet tracker.

[traynor]

A suggestion; attach a brief indicator (sometimes a key word or phrase is sufficient, once you get used to it) that indicates why you made that particular bet rather than some other option. It is especially useful when you break your records down into categories by surface, distance, and class level. The key point is that it "forces" you to justify every bet you make.