Reasons Why you Should Have a Gambling Diary

A gambling diary simply tells you when you won and when you did not win during your gambling. You might win a lot of money while playing real money online casino games. Authorities might need proof of where the money came from. If you keep a record of your gambling activities, being audited will not scare you.

Why you should keep a gambling diary

The Amount you Need for You to Have a Gambling Diary

There is a certain amount that you need to win for you to start thinking of getting a diary. Not all amounts are traced by authorities, in certain countries, you will be required to pay taxes. If you win $1000 while playing a game of Roulette then you need a diary.

Write Down your Wins and your Losses by Session

You do not have to write down every single play but you need to track by session. This is continuous play without cashing out.  In Australia, you do not need to pay taxes when you gamble however as the casino operators are the ones who pay taxes. If you win millions however it may be mistaken for money laundering and the country has strong laws that prevent money laundering hence the need to keep records of your winnings as well as your losses.

Authentic Documentation

Besides the diary, you will also need supporting verifiable documents so that you will not get in trouble.

Proof that you actually wagered and won that huge amount of money might be needed hence the reason why you should keep it.

See How You are Performing Through a Log

The gambling log can let you have a very good idea on whether you are doing good in your gambling career or if you are doing bad. You will have a very good idea of which real money games you are good at and those you are not good at. That way you can focus more on the games that you are registering more successes.