Get your balance sheet right

RichiSwift

Hi guys,
just a quick note about managing your finances/budget/bankroll etc.....

Yes, it's very easy to see how much you have deposited and how much you have withdrawn, now you can work out your gross profit/loss.

But some people miss 'other expences' such as internet connection fee or electric.

If you consider all the other expenses and then deduct from your gross value, you will get your net profit/loss to give you a more accruate end figure.

PS If you play via sky interactive on your TV and you sign up with Sky talk, the internet connection is free.

DTWBANDIT

In Response to Get your balance sheet right:

Hi guys, just a quick note about managing your finances/budget/bankroll etc..... Yes, it's very easy to see how much you have deposited and how much you have withdrawn, now you can work out your gross profit/loss. But some people miss 'other expences' such as internet connection fee or electric. If you consider all the other expenses and then deduct from your gross value, you will get your net profit/loss to give you a more accruate end figure. PS If you play via sky interactive on your TV and you sign up with Sky talk, the internet connection is free.
Posted by RICHISWIFT

      very good point m8 cheers

dowzer

Can you include your internet connection and electricity? Do you only use your internet for playing poker? If not then how do you split a % for poker? Likewise, electricity - can you work out how many units @ xp per unit you use each time you play poker? How about the cost of your PC? Cost of meals when playing? The list could go on and on.

Im not belittling your post and it would be a valid point if you were playing live, for example, and didn't include things like travel costs, hotel stays, meals etc but for online players its such a small amount of money that if it really did make the difference between a given player making profit and a making a loss then it wouldn't be worth factoring in.

RichiSwift

In Response to Re: Get your balance sheet right:

Can you include your internet connection and electricity? Do you only use your internet for playing poker? If not then how do you split a % for poker? Likewise, electricity - can you work out how many units @ xp per unit you use each time you play poker? How about the cost of your PC? Cost of meals when playing? The list could go on and on. Im not belittling your post and it would be a valid point if you were playing live, for example, and didn't include things like travel costs, hotel stays, meals etc but for online players its such a small amount of money that if it really did make the difference between a given player making profit and a making a loss then it wouldn't be worth factoring in.
Posted by dowzer

Thats absolutley right what you said and a good point about when playing live.

I guess my post i really more valid to those who play online for a living and to watch out they dont get charged a fortune for thier internet connection.

For example, what's the point in playing a freeroll on-line that lasts 4 hours to win £20 (if you win) and those 4 hours have cost you £15 dial up fee (for example) if you are on an expensive dial up connection.

scotty77

If you have to factor these expenses in, then this is a major, major life beat.

No-one is on dial up anymore, and even if they are there is no way it will cost them £15/4 hours.

Stop being so stupid.

OMahonyO

OP has a good point. Ive been factoring in all these things since I started, plus, things like wear and tear on mouse and keyboard as these will need replacing every few years.

I also put a little bit away each month for later in life for optician bills as I`m not sure staring at a computer screen for so long can be good for your eyes

SolidStan1

RICH, R U Serious here?

1st, These days the internet is free for 99% of us.
2nd, If your worried about the electric usage, then you should not even be thinking about playing poker.

3rd, Get Real M8!, you gota be having a laugh.

TORTUS007

If you are going to add pennies etc 4 things like wear +tear of your mouse. Oh dear my mouse is house trained, its not on a wire it has batteries that might cost £2 for 1,000 hours.but you would have to add some money on for the shoe leather you save, cos if you werent playing poker, you would be using up shoe leather walking about. So how would you calculate shoe leather V electric. ask Ed giddens he loves numbers+ you cant have a meal out while playing poker.I think working everything out, it probably costs about Tuppence a year to play poker. So dont forget every 50 years, put £1 on your balance sheet.

CLIOKID

In Response to Re: Get your balance sheet right:

If you have to factor these expenses in, then this is a major, major life beat. No-one is on dial up anymore, and even if they are there is no way it will cost them £15/4 hours. Stop being so stupid.
Posted by scotty77

LOL.

Bankroll crippled by electric costs.

brilliant.

OMahonyO

In Response to Re: Get your balance sheet right:

If you are going to add pennies etc 4 things like wear +tear of your mouse. Oh dear my mouse is house trained, its not on a wire it has batteries that might cost £2 for 1,000 hours.but you would have to add some money on for the shoe leather you save, cos if you werent playing poker, you would be using up shoe leather walking about. So how would you calculate shoe leather V electric. ask Ed giddens he loves numbers+ you cant have a meal out while playing poker.I think working everything out, it probably costs about Tuppence a year to play poker. So dont forget every 50 years, put £1 on your balance sheet.
Posted by TORTUS007

OMG, I had completely forgotten about factoring in battery costs, thanks for bringing it to my attention.  I will have to go back and recalculate my books.

OMahonyO

Sometimes,when I take a couple of beats I start tilting and run around the house turning on all the lights, the iron, kettle,washer, dryer and all electrical appliances. I also disconnect the broadband and go on dial up for a few hours.  I usually feel much better after this.