If you are the poker player taking the game a little more seriously than just having a night out with the boys, one important aspect is keeping good records. This is important for several reasons. First, it is always a good idea to know if you are a winning or losing player. Poker should be evaluated over a period of time, not just by the last session played. Usually players prominently remember the big cash they had a week ago, or the loss when someone sucked out on them, but they don’t remember in between. Keeping good records every time you play will help you to keep track of overall stats. If over the course of a month you find you are losing more than winning, then you will be able to evaluate what is going wrong.
Keeping good records will also tell you how much you are making per hour. If you are a serious poker player considering quitting your job to play poker, you should find out if you are making more at your day job than poker. This can be easily evaluated by calculating your hours of playing and dividing that by your profit. If you are making more at your day job, then you should wait to quit.
There are a few websites that lend themselves to helping players keep track of their stats, but I prefer to make a spreadsheet on excel. Excel will allow you to keep track of all the aspects that you find important. These are the essential items to keep track of:
1. Date
2. Buy In
3. Place and Limit
4. Hours Played
5. Cash Out Amount
You can also add things like tips, comps, player points earned, food, and notes. Make sure to keep accurate records so at the end of a week, month, etc. you can go back and view your progress. Keeping good stats not only tells you how you are doing over a period of time, but it also is good practice in bankroll management and bookkeeping. Your friends will also be impressed when you can show them your profit margin on paper.
