not keeping records

[AdamM]

I briefly discussed this with snoopy yesterday but I thought I'd throw it open to discuss. Firstly a confession;

I DON'T CURRENTLY KEEP RECORDS 

secondly a brief excuse

september 2001 to september 2004 I worked in a well know high street bank. It was a high pressure target driven sales roll. if you had a bad monday you could be sure you would be in for a week of bullying and pressure from up the line. My physical and mental health suffered and eventually a combination of back problems and anxiety attack, both stress related made me leave. I took a job in a cardboard box making factory to get as far away as possible from my previous job. I am since back to full health both physically and mentally (and also not making boxes). The reason I stopped keeping records is basically (and probably now obviously) that if I hit a bad run, even a relatively short one, it can completely destroy my game. I can tell by the money in my pocket and the food in my cupboards generally how I'm doing but if I keep specific records I become stressed and perform badly because of it.

anyone else have thoughts about record keeping, or a lack of it they'd like to share.

[TightEnd]

Adam, do you know from your own knowledge about yourself which games suit you at what times on what sites?

does your lack of record keeping extend to no player notes too?

that apart, if it stresses you then why do it, good luck!

[bolt pp]

Dont worry about not keeping records, pertainig to your poker finances anyway.
It can be used as evidence!!!!!!!!!! Keep the dough you earn from poker tucked away.
Most importantly dont let the Inland Revenue or benifits agency find out the'll dip you quicker than you can say:"Job Seekers Allowance"!

[Newmanseye]

I believe in keeping records for a few reasons,

You may go on a bad run, and not ralise just how bad it is without the numbers to see where you are at. Having this info helps you plug holes in your game quicker.
Saving you money

Second reason for me is to prove to my wife exactly how well I am doing.

thirdly the numbers also show if your game is improving.

[mikkyT]

Dont worry about not keeping records, pertainig to your poker finances anyway.
It can be used as evidence!!!!!!!!!!

Evidence for what?? Its not taxable. And unless you have a serious amount saved up, its not gonna affect any benefit you claim either.

[AdamM]

bolt, my winnings are tax free so no need to keep them hidden, and I dont claim job seekers, but thats a different discussion

I do keep some player notes but not too detailed because I believe there are too many factors I'm not aware of at the time. If Im playing $30 STTs on Laddies I know all the regular names and a bit about their games. on stars I rarely see the same names twice. Live it's a memory game and decisions based on instict

[bolt pp]

Dont worry about not keeping records, pertainig to your poker finances anyway.
It can be used as evidence!!!!!!!!!!

Evidence for what?? Its not taxable. And unless you have a serious amount saved up, its not gonna affect any benefit you claim either.

If your bank roll is of a sizable amout, then, for obvious reasons irrespective of any poker influence, the Inland Revenue can investigate to see if you are in the correct tax bracket.
With regards to poker winnings being taxed i have heard several different reports that the goverment plan to formulate a green paper that will outline proposals to re-introduce a gambling tax that will affect the entirety of domestic on-line gaming.These reports are unsubstantiated and speculative though i've had them all independent of one another. Heard of any such proposals?   

[Gamblor21]

GAMBLING is non taxable... the government will not inccur the losses!

I can guarantee it!

[bolt pp]

GAMBLING is non taxable... the government will not inccur the losses!

I can guarantee it!

I'ts only been non taxable for a few years. It was a tax that the Goverment was forced to recind, precipitated by the exodus of bookmakers offshore. With the amount of money traded on-line daily the goverment are indeed interested in reserecting the principal of the gambling tax that they indignantly gave up!

[TightEnd]

they are this is true, but if they do so remember to keep your entry receipts and losing horse racing tickets to use as losses to offset against your winnings 

[bolt pp]

GAMBLING is non taxable... the government will not inccur the losses!

I can guarantee it!

The Goverment didn't inccur the losses, which is why you could pay the 9% tax on your bet before you placed it or have 9% deducted from your winnings. Incidently the actual tax commanded by the goverment was 7%, the extra 2% as added by the bookmakers for "adminisration costs"

[bolt pp]

they are this is true, but if they do so remember to keep your entry receipts and losing horse racing tickets to use as losses to offset against your winnings 

I tried to save up the losers but greenpeace found out I had such a sizable amount of paper in my possesion that thay confiscated them under the conservation of rainforests act-)

[ifm]

I have no idea about whether there is truth in this or not but i do believe the government will find (yet) another way to add a new tax onto online gambling/poker playing.
They won't miss the oportunity.

[AdamM]

anyway, records...

[Wardonkey]

I only started keeping proper records at the beginning of September last year, this after I had left work in May.  
I am now meticulous to the point of anal in my record keeping. It is probably the only part of my life that is properly organised. I need to be organised in this area, it is a big motivational tool for me, it keeps me working hard and I am sure my performance is better for it.

I don't think that everyone needs to keep detailed records, it just doesn't suit some people. If you play primarily for fun and don't enjoy keeping records, as long your not gambling with the rent money then I can't see that it matters too much.